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Solihull - Still Insane Prices


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In the last 12 months a fair amount of property in the roads surrounding me in central Solihull has been going up for sale.

I laugh at the crazy prices they ask and then go "WTF?" when they sell a few months later at very close to asking.

I realise there is a premium around here as we're a short walk to the town center, train station and good schools, etc, but really, i think it's daft. Who has the money to buy these places?

Here's the latest one to appear just around the corner from me.

Nice sized rooms and on a decent plot, but a pretty bland looking house compared to the pretty 1930's and 1950's houses that are mainly in the road and it's got a railway line at the bottom of the garden.

£795,000. Really ?

They're having a laugh. What's sillier though is I wouldn't be suprised if it does sell for close to asking.

Crazy days...

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The Chinese are buying in Solihull. I know that first hand. They always pay 30-40% above market rate, they need to transfer funds from China as the housing market in China is in a bubble.

Err... Serious?

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Would the currently successful Land Rover/Range Rover factory based there have an effect?

I would think the availability of local work might have a slight upward push on your £200 - £300 houses but there's stuff selling around here for truly silly money.

I saw a total neglected wreck of house up for £500K last year and it sold for £480K. I had a viewing it and it would've been a great house to do up, but not at that price. As i'm just someone looking for a bigger family home and not a developer (so can't do stuff on the cheap) I did some back of fag packet calculations and reckoned it was about £200K to fix all the problems and do up to a good standard.

Not worth it when a couple of years ago a heavily extended and updated house on the same road sold for £650K.

Down the same road someone had sold their back garden and built a 6 bedroom house that was up for £1.5m. That was a year ago and the price is now a bargaintastic £1m (hahahahahaha).

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  • 2 years later...

My wife and I are thinking of moving to Solihul, instead of buying in the over-priced s**thole that is Northampton.

The prices in solihull were mental in 2012 but they've gone mega bubble mental as far as I can tell.

Anyone got any comments on what is happening locally ?

I see on the Land registry the west midlands has gone up about 4% in the last 18 months but asking prices seem to have shot up.

Something, like northamptonshire, does not compute.

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Solihull to London is commutable (if you're mad) - it's about 1hr 20 mins to London from Birmingham International.

Solihull is hence attractive to a number of lawyers/accountants who have to split their time between the two cities. It's also one of the "premium" Birmingham locations alongside Sutton Coldfield and Edgbaston/Harborne. There has been a trend lately of law firms using Birmingham as a "service centre" with client facing offices in London. I know a number of lawyers who are now effectively based out of two different offices.

That fact that JLR are close, and have been quite active in hiring lawyers etc on good salaries for HQ is probably a factor driving prices.

I also suspect some Brummie kite flying to cash out while the goings good.

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Solihull to London is commutable (if you're mad) - it's about 1hr 20 mins to London from Birmingham International.

Solihull is hence attractive to a number of lawyers/accountants who have to split their time between the two cities. It's also one of the "premium" Birmingham locations alongside Sutton Coldfield and Edgbaston/Harborne. There has been a trend lately of law firms using Birmingham as a "service centre" with client facing offices in London. I know a number of lawyers who are now effectively based out of two different offices.

That fact that JLR are close, and have been quite active in hiring lawyers etc on good salaries for HQ is probably a factor driving prices.

I also suspect some Brummie kite flying to cash out while the goings good.

Sounds about right.

Might as well wait.

I definitely see the same pattern here at northampton, asking prices at 2007+20%, sale prices no where near.

I dont get it.

P.S. I keep an eye on sutton coldfield and edgbaston too. Many places up for sale for years now, crazy asking prices and although on the face of it the areas are good and the housing stock high quality, when you look at the boomer own properties in detail they atre falling apart, need total renovation and there are few real jobs locally.

Edited by TheCountOfNowhere
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I've finally found a bargain:

http://www.rightmove.co.uk/property-for-sale/property-31309560.html

Unfortunately "**BUY TO LET OPPORTUNITY ONLY**"

yes, thats right, decent famillies need not apply.

If you street view it, not only are you paying £500K to live on a main road...it might be next door to a petrol station.

I suspect the only person this side of china that would buy that is a BTLer to be honest.

There is some real s**t up for sale.

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  • 2 weeks later...

sounds like you have our problem, birmingham housing has been a wierd affair viewing wise. I think too many have been watching 'pimp my house' and think that 5k of improvements mean you can add 50k to the asking price. they also seem to think that tearing out the garage to make an odd shaped reception room 2 is a good move.

we've just sold ours in gloucester to move to the south west of brum, I could have redone the kitchen but I wouldn't have got anything back for my investment.

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Arent you glad you didnt buy last year:

http://www.rightmove.co.uk/property-for-sale/property-29617986.html

28/04/2014
Price changed: from '£849,950' to '£799,995'
10/03/2015
Agent changed: Hunters Group Limited
Agents Location changed: from 'Solihull.' to 'Solihull'
Price changed: from '£785,000' to '£749,950'
IMHO stuff like this is never worth £750K, this baby is going down.
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Solihull town looks like good value when compared to Knowle and Dorridge - can anyone explain the price rises there? I don't know how to link but there are several properties asking for 150k on top of 2007 prices - the prices for poor housing stock seem to be insane!

Come and join us on the, is the shires crashing thread...it looks very much like the west midlands top end market is collapsing...40-80% of listings daily now on rightmove are price drops .

e.g. Solihul + 1/2 mile over the last 7 days, prices above 475K

Drops/Fails: 12 out of 30 = 40%

Solihul + 10 miles over the last 7 days, prices above 675K

Drops/Fails: 20 out of 50 = 40%

Some days the front page listing for rightmove has been 8/10 drops.

Similar figures for Sutton Coldfield.

This is how the london market started collapsing....

Edited by TheCountOfNowhere
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  • 2 months later...

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