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40% Cut In Manchester City Centre

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Reduction on the 1st October and a monster cut today.

05 October 2010

* Price changed: from '£104,950' to '£64,950'

01 October 2010

* Price changed: from '£109,950' to '£104,950' [Found by n/a]

16 August 2010

* Initial entry found. [Found by n/a]

http://www.rightmove.co.uk/property-for-sale/property-27276964.html

All of my Rightmove 'last 3 day' Rightmove searches are showing 2-3 pages of cuts.

It's the most bearish few days on PropertyBee I can ever remember.

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Reduction on the 1st October and a monster cut today.

05 October 2010

* Price changed: from '£104,950' to '£64,950'

01 October 2010

* Price changed: from '£109,950' to '£104,950' [Found by n/a]

16 August 2010

* Initial entry found. [Found by n/a]

http://www.rightmove.co.uk/property-for-sale/property-27276964.html

All of my Rightmove 'last 3 day' Rightmove searches are showing 2-3 pages of cuts.

It's the most bearish few days on PropertyBee I can ever remember.

Well, the September rush is over now. :rolleyes:

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You should add that here: http://www.housepricecrash.co.uk/forum/index.php?showtopic=148803

I think that one is biggest so far for the mainland.

These flats and big cuts at the high end are encouraging stuff.

BUT, this is with a ton of worries about impending job cuts and an ongoing recession.

What state the economy will have to be in before lovely houses in the mid section of the English market are down 35-40% in real terms?

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That'll be the BBC Media City demand pushing up prices that will.

I'm guessing banksters aren't lending on 1 bed city centre new builds then?

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bed room is 3mx3m.......that;'s quite small no?

10ft x 10ft. Not great, but not that terrible either.

I'm no expert, but £65k seems alright for, say, a BTL or student accommodation.

Until you check out the Streetview, that is. :ph34r:

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can't see why not.except maybe for the view.the build quality,the location and lack of a bicycle shed.

It's also on the canal walk (back way) to the City of Manchester stadium, a stone's throw (literally I suspect) from Piccadilly station and a short mince the other way to Canal St. So it's not entirely without appeal to a certain demographic. :P

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It's also on the canal walk (back way) to the City of Manchester stadium, a stone's throw (literally I suspect) from Piccadilly station and a short mince the other way to Canal St. So it's not entirely without appeal to a certain demographic. :P

I know someone who rents a 2 bedder in that block for £600 pcm. Judging by what she pays you could probably get £450 pcm for a 1 bed, which wouldn't be a bad return for £65k.

The block itself isn't in a bad position, particularly in relation to some of the new builds that have popped up on the edge of Manchester city centre over the last few years.

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It's also on the canal walk (back way) to the City of Manchester stadium, a stone's throw (literally I suspect) from Piccadilly station and a short mince the other way to Canal St. So it's not entirely without appeal to a certain demographic. :P

I know someone who rents a 2 bedder in that block for £600 pcm. Judging by what she pays you could probably get £450 pcm for a 1 bed, which wouldn't be a bad return for £65k.

The block itself isn't in a bad position, particularly in relation to some of the new builds that have popped up on the edge of Manchester city centre over the last few years.

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It's also on the canal walk (back way) to the City of Manchester stadium, a stone's throw (literally I suspect) from Piccadilly station and a short mince the other way to Canal St. So it's not entirely without appeal to a certain demographic. :P

I'm in! :lol:

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I know someone who rents a 2 bedder in that block for £600 pcm. Judging by what she pays you could probably get £450 pcm for a 1 bed, which wouldn't be a bad return for £65k.

The block itself isn't in a bad position, particularly in relation to some of the new builds that have popped up on the edge of Manchester city centre over the last few years.

I guess if it were mortgeable she'd be paying around £300 pcm to own it. But then she'd also have the service charge which I guess the landlord is picking up. In any event SHE NEEDS TO HAGGLE HER RENT DOWN!

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It's also on the canal walk (back way) to the City of Manchester stadium, a stone's throw (literally I suspect) from Piccadilly station and a short mince the other way to Canal St. So it's not entirely without appeal to a certain demographic. :P

:D

That flat is screaming.. 'Buy Me Up, Before I'm Repo'd'

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Has to be a typo, surely? I'm not saying anything about this particular agency but some of the city cnetre agents are bandits so I would not be surprised if there was something up here. Dare someone to call up and check.

Even so at £450pm rental, estimating £100 for service charge and a bit more for the agents cut, £300 income pm on a £65K asset is still pretty poor. 5.5%? Still overpriced.

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I know someone who rents a 2 bedder in that block for £600 pcm. Judging by what she pays you could probably get £450 pcm for a 1 bed, which wouldn't be a bad return for £65k.

The block itself isn't in a bad position, particularly in relation to some of the new builds that have popped up on the edge of Manchester city centre over the last few years.

except it's a studio flat from readin gbetween the lines, no iving room?, so cheaper still? (350 pcm)

Edited by Si1

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Exactly. Something a bit fishy about a drop like that. dry.gif

some manc city cetre flats are not liveable, even as studio flats the spaces are awful, just crammed in funny shapes to fit a spare corner n an old bulding and sold at 90k+ between 2003 and 2006

these places were always gonna dive badly, as most people would not choose to live like that

edit: I read a sensible property buying/invesing bookin the early 2000s that said an individual studio flat is unsellable in any market except a boom, with the exception of the best river views in central london.And belive me, these odd-shaped manc city centre studio flats are worse than purpose built studio flat blocks - apart from the chrome kitchen fittings (!)

edit2: (shouldn't do this and work at same time) - ok it is a proper flat with a poxy living room with kitchen units, and a tiny bedroom. Similar theme - odd-shaped flat with tiny bedroom. Nobody would choose to live there given other options.

Edited by Si1

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I lived city centre manc for a year in a new build. Within 9 months the place had serious build problems. I spent two nights away, walked up the stairwell from the under ground garage (which suffered two or three spates of every car broken into over just three months) and in the stairwell found a mushroom the size of your hand, growing on the carpet. Place had damp problems and all the flats in the neighbourhood had their car parks regularly raided by thieves!

Love the locations and nights out, forget living there again though. Price for flat at that time was £650 pcm with car park space, two bedroom.

There are loads and loads of flats just like this there. Asking price sounds reasonable if you can put up with a bad build quality that seemed typical.

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tempting though. I could walk to work, pay off the mortgage in 5 years.

No car parking space though :-(((

Hire a car when you need one or find a granny with an empty garage nearby who will rent it to you.

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  • 140 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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