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dubaiexpat

Middlesbrough Watch

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Thought I would track auctions in the Middlesbrough area, anyone like to chip in..... prices have gone mad from about 2001. Auctions are a real leading indicator.

Here is a good example

59, Lothian Road £47,000 05 Jul 2001

Middlesbrough

Middlesbrough

TS4 2HL

Terraced

Freehold

Build status not stated

(netpricehomes)

Up for Auction ..Guide price 125,000 - 155,000 ....going to be held October 4th,

judging by the recent auctions its more likely to be withdrawn.

http://www.pattinson.co.uk/Public/Modules/...aspx?auction=68

(You will need to click on the 4 page to see the house)

Crazy prices for a town that has an average wage of about 20,000.

I think house price deflation will be the worst here due to the heavy amounts of speculation in the area.

Edited by dubaiexpat

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Insane amounts of speculation and way too many properties on the market. I'm completely amazed that prices can be sustained in the 'Boro. Even in the good areas there's way too much supply.

Got a mate who's just got himself a BTL near Acklam, poor b*stard!

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As predicted unsold ...and available ...what is striking is the number of properties that didn't move in this auction.

Was just having a look at the next auction, and the prices are silly for the part of the UK we're talking about.

I bet a lot of people aren't even bothering to go to these auctions, the reserve prices are probably too high as well.

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Crazy prices for a town that has an average wage of about 20,000.

Do you really think it's that high? :o

I think house price deflation will be the worst here due to the heavy amounts of speculation in the area.

Agreed

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Teesside will definitely be interesting to watch. Not only the cr*p job situation, gross over suplly but also Hometrack reckon you could only get on average 87% of the asking price. Isn't this considered to be full on crash territory?

None of my friends in the area have jobs outside the government!

:huh:

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Teesside will definitely be interesting to watch. Not only the cr*p job situation, gross over suplly but also Hometrack reckon you could only get on average 87% of the asking price. Isn't this considered to be full on crash territory?

None of my friends in the area have jobs outside the government!

:huh:

wow! I've only been away a couple of years and look what's happened! :o

e.g. an acquaintance of mine bought a 3bed semi in a decent part of East Redcar for £60k in 2000. Now that would only get you a one-bed flat on the main road in Loftus.

and the average wage will be nowhere near £20k

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wow! I've only been away a couple of years and look what's happened! :o

e.g. an acquaintance of mine bought a 3bed semi in a decent part of East Redcar for £60k in 2000. Now that would only get you a one-bed flat on the main road in Loftus.

and the average wage will be nowhere near £20k

Ok did some research ...on upmystreet.... Middlesbrough Council pay on average 350 per week ...so around 18,000 per year. National Average is 22,000.

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Ok did some research ...on upmystreet.... Middlesbrough Council pay on average 350 per week ...so around 18,000 per year. National Average is 22,000.

the council? And according to the sensationalist stat d'jour, public sector pay is an average of 20% higher than private sector... so using that as a (very) rough calc, the avg wage in Boro in the private sector is £15k... call it £16k to take account of both. Sounds about right from the people I know who live in Boro (ie not Yarm, Stokesley etc)

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Repossession?

I know this street very well ! although I was not there when Barratt made new terraced houses, the terraced houses then were going for about 25,000. .

Anyway here is an example of 'affordability' in that road.

57, St Barnabas Road

Middlesbrough

Middlesbrough

TS5 6AT

£29,000

Semi-Detached

Freehold

Build status not stated

09 Aug 2001

Map(TS5 6AT)

57, St Barnabas Road

Middlesbrough

Middlesbrough

TS5 6AT

£68,000

Semi-Detached

Freehold

Build status not stated

13 Jul 2003

Map(TS5 6AT)

57, St Barnabas Road

Middlesbrough

Middlesbrough

TS5 6AT

£108,000

Semi-Detached

Freehold

Build status not stated

31 Aug 2004

Map(TS5 6AT

But here is the auction watch of the month...a brand new house bought at 160,000. (They are mad) Most of my family live in Linthorpe and find it hard enough to repay their existing mortages, and they have been there since 1950's. Anyway I digress.

Netpricehomes......

109, St Barnabas Road

Middlesbrough

Middlesbrough

TS5 6AZ

£160,000

Terraced

Freehold

Newbuild property

26 May 2005

.....now up for auction guide price 145 - 170 ... Auction list for 29 November 2005

http://www.pattinson.co.uk/Public/Modules/...?property=46030

We shall wait and see.

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Repossession?

109, St Barnabas Road

Middlesbrough

Middlesbrough

TS5 6AZ

£160,000

Terraced

Freehold

Newbuild property

26 May 2005

.....now up for auction guide price 145 - 170 ... Auction list for 29 November 2005

http://www.pattinson.co.uk/Public/Modules/...?property=46030

We shall wait and see.

So 10 times income for a terrace, its madness.

I've followed these auctions posted on the Newcastle thread and there are no bargains. They all sell within the guide price, so presumably they set a high reserve. But not many are selling, so something will have to give soon.

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So 10 times income for a terrace, its madness.

I've followed these auctions posted on the Newcastle thread and there are no bargains. They all sell within the guide price, so presumably they set a high reserve. But not many are selling, so something will have to give soon.

With the huge over supply of properties in Middlesbrough, I would be very nervous about buying there. One weekend I think I guesstimated 3500 properties for sale!

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GUIDE PRICE REDUCED TO £130,000 ST BARNABAS ROAD, LINTHORPE

Although up for auction tomorrow its been reduced to generate interest ...even at that price its a non starter in that street.

109, St Barnabas Road

Middlesbrough

Middlesbrough

TS5 6AZ

£160,000

Terraced

Freehold

Newbuild property

26 May 2005

.....now up for auction guide price 145 - 170 ... Auction list for 29 November 2005

Edited by dubaiexpat

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Can't wait to see the result, later today hopefully.

It's like watching the HPC unfold in real time.

Great fun (although not for the former owners unfortunately).

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Auction Results from the Boro 27th February ..... only a few fools left

http://www.pattinson.co.uk/public/content/...aspx?auction=82

Street Entry Type Status Sold For

West Cornforth, West Cornforth Section Two SOLD £44,000

Acklam Road, Acklam Section Two SOLD £92,000

Breckon Hill Road, Middlesbrough Section Two AVAILABLE

Hunwick Hall Farm, Church lane, Hunwick Section Two AVAILABLE

Appleton Road, Primrose Hill Section Two AVAILABLE

John Street, Easington Section One SOLD £30,000

Southport Close, stockton on tees Section One AVAILABLE

Front Street, Cockfield Section One AVAILABLE

Thetford Avenue, Priestfields Section One SOLD £65,000

Stirling Way, stockton Section One AVAILABLE

South Road, Norton Section One SOLD £177,000

Stockton Road, cold hesledon Section One AVAILABLE

Rosewood Court, Marton Section One AVAILABLE

Alpha Grove, stockton Section One AVAILABLE

Guisborough Road, Section One AVAILABLE

Lanark Road, Hartlepool Section One AVAILABLE

Sunnyblunts, Peterlee Section One AVAILABLE

Fincham Close, The Glebe Section One SOLD £107,000

Fernwood, Coulby Newham Section One AVAILABLE

Park Crescent, Darlington Section One AVAILABLE

Clifton Avenue, Hartlepool Section One AVAILABLE

High Newham Road, hardwick Section One AVAILABLE

Poplars Road, Linthorpe Section One AVAILABLE

Polden Close, Peterlee Section One AVAILABLE

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