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NJP

Central Bristol Flats

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I currently rent a flat in a near the harbourside. Last year, according to NetHousePrices, flats in our block were selling for around £150,000.

There are now two on the market for less than £130,000. One of these has been reduced by £5000 today, after only being advertised for a fortnight.

http://www.rightmove.co.uk/property/8776367

http://www.rightmove.co.uk/property/8776271

AFAIK, both of thse flats are currently empty. Seems like the BTLs are starting to get nervous. I'm half-tempted to put in a 'cheeky' offer of around £100k to see what happens.

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I currently rent a flat in a near the harbourside. Last year, according to NetHousePrices, flats in our block were selling for around £150,000.

There are now two on the market for less than £130,000. One of these has been reduced by £5000 today, after only being advertised for a fortnight.

http://www.rightmove.co.uk/property/8776367

http://www.rightmove.co.uk/property/8776271

AFAIK, both of thse flats are currently empty. Seems like the BTLs are starting to get nervous. I'm half-tempted to put in a 'cheeky' offer of around £100k to see what happens.

I rent a flat on bristol harbour side as well and the 2 things that I have noticed are: All flats of 1-2 beds now 15% lower than last year and they used to be snapped up in days, now 7 are on sale by me and have been for 6 months or more. Still 20% over priced though

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I want to buy a flat in that area so this is interesting. The huge number of new builds around the center of Bristol which are not yet complete will only help push the prices down. I don't expect to be seriously looking for another year as I refuse to pay so much for so little. Even if it is a great location.

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I have noticed falls too for 1/2 bed flats, but in my opinion they are still far too pricey for what you actually get.

If you venture out of Bristol into the villages of North Somerset i.e. Nailsea, Clevedon, Portishead, the falls are slow in coming. 5k off a 160k house is about as good as it gets :(

Although you may get more if you shop around.

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UPDATE:

There is now an 8th flat for sale were I live on bristol harbour side, but this one has come on 15K less that the other 7 which are all the same price, that should put pressure on them lowering the prices.

ril.

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UPDATE:

There is now an 8th flat for sale were I live on bristol harbour side, but this one has come on 15K less that the other 7 which are all the same price, that should put pressure on them lowering the prices.

ril.

Do you mind if I ask which development that is?

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is anyone worried that the regeneration of broadmead shopping centre might cushion any potential falls in city flats?

i drive past the latest development on the harbourside (360 degrees) and i cant imagine who would buy them at those prices.

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Falling fast - see this one.

http://www.rightmove.co.uk/viewdetails-445...pa_n=5&tr_t=buy

The flat next door but one to this, abeit with a bigger balcony but otherwise identical sold for 249,950 last May.

This one is now on at 199,000.!!!!!!

Also, I think the people who bought off plan at 360° maybe upset when they see how near the eastern flats are to the next office block! Hope they didn't pay 265k+.

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Slightly off topic ...

Just been to the rubbish tip with a load of old plates and kitchen stuff. They were wrapped in Bristol newspapers from the beginning of the present property cycle. Loads of cheap properties for sale, e.g. Southville flat @ £34k, 2 Bed Terrace in Totterdown @ £35k, flat in Clifton @ 69k. It prompted me to remember a mate I went to University with who moved into a rented room in a terrace in Totterdown that needed some TLC but was bought for £27k in 1996.

How times have changed!

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Update: Bristol harbour side

The crazy Flat:

The 2 bed flat next to me was bought in Nov '04 for 175k and has been on the market ever since for £210k, it is empty and i have never seen anyone viewing it, not sure what they are thinking, trying to make 35k for nothing?

The other flats:

The other 8 (2 beds) flats are all on for 179k and not moving after months and months, one has now droped price by 15k and still nothing happening, not sure how long they will leave them empty? I wonder if they realise they are over priced by 40k.

ril

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I live in rented accomodation in Clifton (Like anyone can really afford to buy anything there anymore). I've noticed that there are several flats in my street for sale. However the EA's haven't put up boards for whatever reason. A new build in the street has 2, two-bed flats for sale for the last 3 months. One has been slashed by 20K already (mind you it was priced at 325k in the first place).

i think the pattern of not putting up for sale signs is probably fairly rife, so the number we see on the streets is not really indicative of the numbers for sale. Things have definately slowed, and more and more price reductions noticed in the evening post. Hold on there anyone thinking of buying. I believe this is the calm beofre the storm..............at last!

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Intro seeing as I'm new around here: 35/female/kid from previous relationship; owned a flat a few years ago with ex-partner in an expensive village just outside Shrivenham (our landlord died suddenly and his inheritors offered us a deal for a quick sale so they could pay off inheritance tax bill or something), sold on splitting up a year later (30K profit, split 50-50), lived with parents for 6 months, been renting since moving to Bristol.

I rent in Clifton, but am looking to move as the landlord has now put the rent up by 5% two years in a row, so it is getting out of my price range to remain in the same flat.

As far as buying goes, no chance in Clifton, of course. I could just stretch to some of the cheapest 2bed recent conversions in the Centre, but I see that many of those up to rent at less than I'd be repaying a month on a mortgage so whats the point.

So we'll be moving to a cheaper 2bed flat and waiting a few years, rather than going back into owning.

Meanwhile parents nag about throwing money away on rent. They sold the family home in central Reading for about 2000% more than they had bought it for 32 years before, bought their current ex-council semi in Aberdeen outright for cash, and put the rest in their pension annuity.

As for the not putting up for sale signs, in my street at least it is not allowed as it would "bring down the tone of the neighbourhood, spoil the look of the listed buildings, and attract burglars" apparently. The terrace committee members take them down as soon as the EAs put them up.

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As for the not putting up for sale signs, in my street at least it is not allowed as it would "bring down the tone of the neighbourhood, spoil the look of the listed buildings, and attract burglars" apparently. The terrace committee members take them down as soon as the EAs put them up.

Nothing to do with displaying oversupply of for sale properties - obviously!

Do they react so quickly if a sold sign goes up I wonder?

/G

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Nothing to do with displaying oversupply of for sale properties - obviously!

Do they react so quickly if a sold sign goes up I wonder?

/G

No, they just don't go up in the first place. No conspiracy, just the rules.

Lucky

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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