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delighted

Liverpool House Prices

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:rolleyes:

What is happening in Liverpool, prices seem to dropping all the time particularly this week. Have you seen the sales in the merseymart? I am waiting to buy as it will come down further - One bungalow asking price down from 189,000 to 149000 within 6 months :

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Yes, lots of properties have been on the market for at least a year. Quite a few have dropped their prices but still not sold (unsurprisingly as they are still vastly overpriced). I'm waiting a couple more years before buying, hopeful;ly the sellers will be more realistic by then.

I really hope the estate agents are suffering.

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Yeah just tonight I noticed even more houses with 10k reductions, something is definitely happening.

Even more suprising is the amount of property for sale now!!

[edit] now 1378 houses for sale using Aintree +3 miles search on Rightmove

Thats way up from last month....

Edited by Nem

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I recently interviewed the guy who took over the Albany development, fascinating insight, also interviewed one of the partners at Venmores. I came away from both interviews stunned at the overall denial, not just them as individuals, but their industry as a whole. I began to think it was me, I just didn`t get it. The over development of L`pool city centre apartments is unreal, its the dot com of the real world, lots of fingers getting burnt as we speak. Venmores last two auctions have seen a real sea change in sentiment.

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Do you read the property mag "Your Move" (I think)?

It makes me so angry how they can't admit that it's a bad time to buy and keep spouting such VI rubbish. But then it is obviously not going to upset the EAs who pay for all the ads.

The pictures of people who work for solicitors/EAs having parties are awful too. I mean who gives a sh1t?

And the restaurant reviews never ever say a bad word about anywhere, and some of them I've been to and it's difficult to believe they're talking about the same places.

(Sorry if you work for them converted lurker....although Idoubt you do as you are obviously an astute chap/chapess)

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Liverpool..jeez..where do you start..one massive construction site in anticipation of this pointless 2008 culture effort. Agree with you on that mag, Liverpool prices will crash IMHO bigger than anywhere. Have you checked out the latest figures from Venmores auction last week? Not quite this time last year. :lol:

Paul

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i really hate your move magazine, but it is rather delightful to see so many flats - sorry 'luxury apartments' for sale or rent obviously a glut in the market.

I recently moved and looked at loads of gorgeous flats for really reasonable rents - cheaper than this time last year. Now decided to take on renting a house, would cost 250 - 300k to buy and i am paying 600 pcm to rent.

I have been taking a casual look at buying E.A s suggesting that i make offers on already reduced houses. Still prices are to high annd I would prefer my house in nice area to what i could buy.

I am actually enjoying renting, it feels like a positive position :)

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Venmore auction site is excellent the property is not moving, prices are down, take a look. But the ones that have sold are still inflated.

A far cry from the auctions where they had to lock people desperate to buy out. :D

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Check out these two houses. They are next door to each other. Very close to M62 and a train station and not that nice an area IMO. One is £329K (recently reduced from £350K). The other is £209K.

Are the EA mad or are the vendors extremely greedy?

House ONE

House TWO

I wonder which one will sell first.

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Nothing more than minor drops in Liverpool at the moment, however not many completed sales it seems. Using my Aintree+3 miles search on RightMove we're now up from 1378 properties to 1510 in 6 weeks.

It can't be long now before people realise if they want to sell, they're going to have to drop the price......

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Nothing more than minor drops in Liverpool at the moment, however not many completed sales it seems. Using my Aintree+3 miles search on RightMove we're now up from 1378 properties to 1510 in 6 weeks.

It can't be long now before people realise if they want to sell, they're going to have to drop the price......

Flat in the collegiate, Liverpool 6 (2 bed I think - Urban splash development) - was purchased for £135k or so a few years ago. Sat empty due to poor demand (or unreasonable required rent). Was close to reposession, sat in an EA window for six months (at least) at the 105k mark. Finally went to auction - sold at 80k (in the last month or so). Scary.

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Flat in the collegiate, Liverpool 6 (2 bed I think - Urban splash development) - was purchased for £135k or so a few years ago. Sat empty due to poor demand (or unreasonable required rent). Was close to reposession, sat in an EA window for six months (at least) at the 105k mark. Finally went to auction - sold at 80k (in the last month or so). Scary.

That's a good 40% down. That sounds quite amazing.

I'm expecting prices to fall that far in places, but I didn't think it would have happened by now.

Do you have any links or postcode?

If you're into BTL, could you actually buy the place and make some money (on the income, not on speculation)?

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I'm starting to see much bigger drops now, this place was 125k last year. Obviously needs some renovation, but houses in the same street are currently up for sale at 130k!!

I need to sell my place asap!

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That's a good 40% down. That sounds quite amazing.

I'm expecting prices to fall that far in places, but I didn't think it would have happened by now.

Do you have any links or postcode?

If you're into BTL, could you actually buy the place and make some money (on the income, not on speculation)?

http://www.houseprices.co.uk/e.php?q=collegiate%2C+l6&n=10 - latest sale not on yet (only auctioned off in last month or so) - 135k sale price not on there, but could have been the 139 one. This was anecdotal from an agent, but will know 100% once the new sale price pops up on the radar.

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Is this the Silent Crash?

We arent hearing about it in the media

This so called "Stagnant" market is a bit like a Creme Brulee; Crisp hard top with a soft vanilla custard underneath.

What you see on the surface is very different from what lies beneath, and it can be quite a suprise.

A quick tap of the spoon, the top cracks and you dig right down to the bottom.

Yum Yum

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Im seeing a lot of properties that were 130K and upped to 170K in February coming back down to 140K. Looks like they were trying it on and the local market will not buy into the prices. Couple of houses in my area have been snapped up though. One in my street was on for 200K and went within weeks. This is good news as most of them in my area are 235K! This is GOOD NEWS!!!!

The only way to get prices down is to force them down with sales. Do not feel disheartened if houses sell - they always will! And sometimes its a good thing!

TB

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Is this the Silent Crash?

We arent hearing about it in the media

One of the largest EA's SYKES WATERHOUSE (Countrywide) have had a spring sale since February. MUST END SOON!!!!

They have now started a SUMMER SALE! :lol:

The key to Liverpool dropping is Sutton Kersh and Sykes dropping rpices. They are the greddiest out the lot. BEPropertyservices get a lot of EX SK and SW properties - re-price them to realistic prices and sells them in weeks generally. When the big 2 do the same then we should be ok.

To give you an idea of how many properties are for sale (per agent) with these 2 (as of 28th May 2006)

Sykes Waterhouse (Allerton) 328

Sykes Waterhouse (Formby) 78

Sykes Waterhouse (Maghull) 163

Sykes Waterhouse (Old swan) 150

TOTAL= 719 or 180 per agent (av.)!!!

Sutton Kersh (Allerton) 358

Sutton Kersh (Anfield) 89

Sutton Kersh (City Centre) 118

Sutton Kersh (Old Swan) 152

Sutton Kersh (Walton) 105

Sutton Kersh (West Derby) 145

Sutton Kersh (Woolton) 168

TOTAL=1135 or 162 per agent (av.)!!!

Not exactly FLYING OF SHELVES - more BREAKING the shelves in my opinion. The spring bounce here has finished. There is no outside investment on the scale of the last few years. Houses in parts of the city Anfield/Walton/West Derby/Old Swan were relatively cheap becuase there are not the best areas. Not shitholes in most part but not a place I would live. These now have asking prices that make BTL a no-brainer. It dont add up at these prices.

Everyone is confident that Liverpool will crash big time? Well from what I hear - other people back this up GLASGOW/MANCHESTER - cities who won City of Culture had a bit of a recession for a few years afterwards when all the gloss was taken off the stupid award? I think CoC will actually help prices down because there is a lot of speculative cash in the city which will start to rot imho.

TB

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Yeh, try Kensington, Kirkdale and Norris Green. Quite posh, you'll like those areas. Really good schools and nice places to raise your kids.

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Yeh, try Kensington, Kirkdale and Norris Green. Quite posh, you'll like those areas. Really good schools and nice places to raise your kids.

Turn off the sarcasm mode :)

They are not great areas!!!

BOHS what price range are you looking at and what type of house. Do you have kids, are schools important? Are you young and want a city pad or a good drinking area with bars? Give us a little info on what your looking for and I will suggest a few areas?

TB

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Turn off the sarcasm mode :)

They are not great areas!!!

BOHS what price range are you looking at and what type of house. Do you have kids, are schools important? Are you young and want a city pad or a good drinking area with bars? Give us a little info on what your looking for and I will suggest a few areas?

TB

Sorry yes, it was a poor first post but i couldn't resist. My mother's been working for a letting agent for while and she gets that question all the time from "investors" who know nothing about the area. I consider myself suitably reprimanded.

As teddyboy says, if you want to now about the area, let us know your circumstances and I'm sure we can give you some pointers. I'm from North Liverpool I'm guessing (from lurking this board) that Teddy is from the south.

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sorry should have giving more info,like to buy for investment good let important,good growth.Would i get good value now there seems to be a decline.Many thanks!

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sorry should have giving more info,like to buy for investment good let important,good growth.Would i get good value now there seems to be a decline.Many thanks!

I know little about the investment opportunities in Liverpool other than what I see with my own eyes. There is a massive overbuild (imho) of luxury flats. These are for sale for around 120K to 200K or more. I cannot see ANY YIELD on these.

Although Liverpool is a university town it does not mean there is massive demand for rent, even if Krusty & Phil say otherwise! John Moores University have expanded their property portfolio for these students and there are shed-loads of people buying BTL's in the areas that Kris suggested. These areas are god potential for yield because they are cheap in comparison to ther areas. They are cheap for a reason though... make your own conclusions.

If your looking for an area that has BARS and amenities for the 'young-professional' (hate that f*cking word, so its used in a sarcastic way) then I could suggest Wavertree. Not great, had a few shooting a few years back but its calmed down a bit! This is where the 'high street' is - something like 40 pubs on this stretch all the way into Liverpool city centre. Alternatively for a bit more up-market you could try Woolton. Has a noce village area and a few bar and restaurants. Next to this is Halewood (1 mile) which is a worse area but a lot cheaper.

I dunno if yields would work on on these imho. I think BTLMakingMoney has some BTL's in Liverpool (sorry if I'm wrong), might be an idea to PM him.

If you want the honest truth. With the forthcoming IR rises I think BTL at this moment is a no-go! You may not make enough rent to pay the mortgage and maintenance and HPI has slowed down a lot, so you cant depend on Capital gain. As you know we believe prices are going to drop so its just too risky. Think you need to find a smaller city imho. This one is over-populated with speculators. You could however wait a year or two and pick up on all the failed BTL's?

Sorry yes, it was a poor first post but i couldn't resist. My mother's been working for a letting agent for while and she gets that question all the time from "investors" who know nothing about the area. I consider myself suitably reprimanded.

As teddyboy says, if you want to now about the area, let us know your circumstances and I'm sure we can give you some pointers. I'm from North Liverpool I'm guessing (from lurking this board) that Teddy is from the south.

In Hindsight Kris your suggestions were'nt too bad :) I agree though, only people outside of Liverpool would consider them areas. We certainly would NOT pay the prices either!!!

I am from the sounth mate, Aigburth. Looking to buy in Aigburth, Mossley Hill, Allerton, Woolton area. Not asking for much am I? :)

TB

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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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