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Stockport/heaton Mersey Flats In Massive Price Reduction

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This is quite amazing, noticed in the local rag a load of flats that one of my friends used to live in have come up for sale

http://www.rightmove.co.uk/property-for-sale/property-27499666.html

This complex was built in 2005, my mate rented a ground floor flat (very nice it was - all good top spec, Ikea kitchen/bathroom etc), 2 bedrooms, en-suite bathroom in one bedroom. The area is very good too - quiet, shops just around the corner, 2 minute walk to the didsbury road/wilmslow road corridor, parks, schools etc.

http://www.mouseprice.com/HouseDetails.aspx?PostCodeAddressID=890886

.... these places were going for around £175,000 in 2005/2006.

... now approx. £108,000 - and the adverts say NO CHAIN ... does that mean a re-possession??? Looks like it to me.

Damn, wish I had a spare 100k, I'd snap one up - they were great flats, ho hum

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Quite a different story if you look at semi's/detached house prices in Heaton Moor/Mersey. They are close to peak.

yeah, prices still remaining high - although there ARE houses on the market (at least 3 on our road) that have not sold and the price has been kept high, the prices are starting to drop. Not that many properties come up for sale in Heaton Mersey - so their prices will be kept up I think. In Heaton Moor, houses are large and there is 'established money' I think, these places are relatively insulated (unless interest rates shoot up?).

Didsbury is so over-priced and I bet a hell of a lot of BTL'ers and interest only mortgages are in this market, they will be stuffed. Certainly the stupid high prices being asked in Didsbury are starting to fall, volumes of sales have dropped too.

Another

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Looks like a repo from a BTLer doesn't it?

Not sure I'd be too happy with my kitchen being held up by the single brick column though. :P

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... further reductions, now at £95k and still no biters :rolleyes:

Noticed tonight that the £95k flat now has an offer of £80k:

http://www.rightmove.co.uk/property-for-sale/property-27499666.html

(Of course whether the interested buyer will actually complete the purchase is another thing entirely.)

Also of note, according to agents Philip James Wilson - "This block currently has no management company which could limit the buyers subject to mortgage approval", as mentioned here:

http://www.rightmove.co.uk/property-for-sale/property-31460276.html

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Noticed tonight that the £95k flat now has an offer of £80k:

http://www.rightmove.co.uk/property-for-sale/property-27499666.html

(Of course whether the interested buyer will actually complete the purchase is another thing entirely.)

Also of note, according to agents Philip James Wilson - "This block currently has no management company which could limit the buyers subject to mortgage approval", as mentioned here:

http://www.rightmove.co.uk/property-for-sale/property-31460276.html

80k huh, will be interesting...

yeah I noticed about the management company too - walk away!!!

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  • 150 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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