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Hi

I've been keeping my eye on a few three bed semi's in Sale. I'm planning to move back up north next year and I'd like to buy when the price is right.

This place:

http://www.rightmove.co.uk/viewdetails-372..._t=buy&chnl=buy

was on for around 9 months before ssc. It started at 160k dropped to 155 and then had a offer accepted on the asking price of 145k. So thay looks like at least a 9.5% drop.

Do you know what the accepted offer was?

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Welcome Anteos. I dont know a great deal about the sale area (more interested in central/south manchester). My advice would be to look back over the past couple of years at the house prices in that locality using land reg figures etc. If you're new to all this, a good start would be to check the price trends via 'upmystreet.com' or even the bbc website, just to get a feel of the 'tone' of values, and where they are going.

I wish I could come up with a more interesting reply, but really my only personal opinion is one oft stated on these boards, which would be to hold back a little longer as the current economic environment is more than a little unstable. Rent, be free, be patient. If you must buy, ensure you stay within 3.5 multiples of income, and stress test your mortgage plan to ensure you could still cover it if interest rate went up to 8% (perhaps more?), and be prepared to live there for a while! Good luck with it mate.

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Hi Everyone,

Was wondering if any of you could help. I'm thinking about moving to Manchester and am looking for somwhere to rent. I don't know the area at all and was wondering if you had any ideas of what areas are nice or where you get something nice for the money. My pricerange is £450-600 and i'l like somwhere funcky but not one of these city centre rabbit hutches,

Any help appreciated

FH

Didsbury's funky, and nice too, and within your rental budget from looking at fish4.co.uk's lettings section. I think Rachel and Adam used to live there in 'Cold Feet'....

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Hi

I've been keeping my eye on a few three bed semi's in Sale. I'm planning to move back up north next year and I'd like to buy when the price is right.

This place:

http://www.rightmove.co.uk/viewdetails-372..._t=buy&chnl=buy

was on for around 9 months before ssc. It started at 160k dropped to 155 and then had a offer accepted on the asking price of 145k. So thay looks like at least a 9.5% drop.

I hate to say this, but having lived in the South East for a number of years this looks good value. Is this a good part of Sale, or a borderline area trading on the name?

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  • 4 weeks later...

Ok, time to wake up the Manchester thread...

Does anyone have any idea why city centre rentals are'nt dropping yet? There's a backlog of half empty flats in some area's (north manchester) but rental prices for a 1 bed are still in the £550-£600 bracket for a reasonable one, some are getting more exspensive? Why aint they dropping...surely market forces should be driving them down..

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No idea.

But have you seen this:

http://www.manchesteronline.co.uk/men/pers...nkruptcies.html

Huge rise in bankruptcies

Ian Craig

A BIG rise in bankruptcies and home repossessions has hit Greater Manchester - and brought demands for action from the government.

County court mortgage repossessions are up 42 per cent from last year and bankruptcies up 66 per cent. One of the most staggering increases is in Manchester itself, where there are 164 per cent more bankruptcies.

North west Euro MP Chris Davies fears this could signal recession and is calling on Chancellor Gordon Brown to take urgent action. He says many families are cutting back on borrowing.

"Their credit cards have kept the high street boom going and their mortgages inflated the housing bubble. But people are starting to tighten their belts," said Mr Davies, leader of the British Liberal Democrat group in Brussels.

According to figures from the Department of Constitutional Affairs there were 284 repossession orders in the last quarter, up 55 per cent, and 185 bankruptcies, a rise of 164 per cent.

Mr Davies is calling for a payments protection insurance to provide a safety net for borrowers who can't meet payments.

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We are now so near Christmas so it will be very quiet. All the news points to poor retail sales, indicating lack of disposable income. If it's bad now expect January to be very sluggish, and only by February may we start to see things picking up. Indeed Easter is when the traditional house-hunting season starts again.

In the meantime I expect to see the large amounts of bad news that is already upon us grow, so sentiment may not be as strong in Easter as would be expected. Then is the time to listen out for the messages coming out of the VIs as to the state of the market.

Nothing much will happen until then.

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Ok, time to wake up the Manchester thread...

Does anyone have any idea why city centre rentals are'nt dropping yet? There's a backlog of half empty flats in some area's (north manchester) but rental prices for a 1 bed are still in the £550-£600 bracket for a reasonable one, some are getting more exspensive? Why aint they dropping...surely market forces should be driving them down..

The owners can't afford to drop the price because they are mortgaged up to the hilt.

If they don;t drop though..they will be sat with empty property and still paying the mortgage.

Shame :P

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  • 439 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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