Recent Sold Prices South Manchester + Cheshire

[Venger]

Just a mix, for a glimpse into how different parts of the market is playing out, South Manchester + Cheshire.

Alderley Edge

23 Jul 2013 Terraced, Leasehold £325,000

06 Jul 2009 Terraced, Leasehold £250,000

Welcome back to the market...

as another rental, asking £1,450 pcm: http://www.rightmove...y-42885779.html

Hale

01 Jul 2013 Detached, Freehold £220,000

13 Jul 1999 Detached, Freehold £76,500

In 2011, asking £299,950 http://www.zoopla.co...5440287?image=2

Later in 2012: asking £239,950 http://www.rightmove...y-34759123.html

Saw that yesterday.

IIRC originally on for 300k, went SSTC a year-ish ago, came back on later at 275k and dropped to 249k a few weeks/ a month ago

I wondered why it had popped up yesterday. Think they might have swapped EA? Damn, I should start recording this stuff when it happens.

Trouble with this house is that its a small 3 bed, loft looks unconvertable and the plot is poorly shaped.

[jmm6612]

The hale property was sold by friends. They made good money out of property in the area over the last 25 + years. You can see where they spent It at www.alfrescoproperty.co.uk

[Venger]

The hale property was sold by friends. They made good money out of property in the area over the last 25 + years. You can see where they spent It at www.alfrescoproperty.co.uk

Good money out of property in the area over the last 25 years? That house previously sold in 1999 for £76,500. Are you suggesting the people who owned it had more than one house/property in the area. Renting out or selling up? Perhaps you can't say, if they are your friends.

Actually despite me being very dismissive of your claim, there is a link back to Grove Lane, Hale, from that holiday home / 'internship' (no thanks) website. I ran a search on one of the villas on the website elsewhere, and the contact address....... perhaps it require updating now the house has sold. So I have no reason to disbelieve you. Property owners/investors selling up? Sounds good to me. Would like to see more of it.

https://www.airbnb.co.uk/rooms/979290

[jmm6612]

Hi Venger

I know a lot of people in the area having lived in Bowdon for 15 years. Most are couples rattling around in large houses now that the children have left home. A few have cashed in and downsized or moved aboard, but the majority have stayed put. It is a sad waste of accommodation but I don't know what might trigger an exodus.

[19 year mortgage 8itch]

The hale property was sold by friends. They made good money out of property in the area over the last 25 + years. You can see where they spent It at www.alfrescoproperty.co.uk

They should have kept it, they would have made another £100k in 3 months

[Venger]

They should have kept it, they would have made another £100k in 3 months

Ah I see what you mean. I saw it on RM a moment before I had to get ready to go for a checkup/scale-polish at the dentist, and wasn't immediately sure it was the same place, or a hidden similar house I didn't know of. Saw the asking price and looked forward to going to dentist to take my mind off it.

At least the last seller had to come down on their asking price, to sell at £220K. And transacting with a property-developer at that, not a normal housebuyer/couple looking for a home. Archived 2011 listing, asking price was the very thick end of £300K. I look forward to more sellers having to come down, and fewer flipper/landlords coming in. (Although that theory might get shot up, as I await to see the outcome of some other recent sales, at what I suspect were high transaction prices.) That particular area, and some roads directly off it, are not high up my preferred buying areas anyway. Some concerns about traffic/parking, now and into the future.

http://www.rightmove...-41112220.html#

Sale price was £220,000 on 1 July

http://www.rightmove...country=england

[19 year mortgage 8itch]

I don't have the link but I'm sure it pre-dates late 2011 and was on for more than £300k in the early days.

There are no internal photos so you can't currently gauge the full scope of works but from the floor plan and external photos I doubt its very much. The conservatory has been extended but its not exactly in the garden and is closely bordered by their hedge/fence. Internally, the only thing I can see is the removal of the upstairs toilet to extend the 3rd bedroom. I say 3rd bedroom but originally it must have been the bathroom but at some point, someone carved up what was otherwise a good size bedroom at the front of the house to make a cramped bedroom and an even more cramped bathroom and turn the bathroom into a bedroom. Presumably leaving the original separate WC in its place upstairs. I wait to be proved wrong but I can't see them having jacked up the roof and added extra living space up there.

In its previous state I viewed the house at an 'open house' long before it actually sold. Quirky is being kind and I will be kind because we've had 2 posters now that have claimed to know the owners. I bet J on this thread is the previous owner. Yes the house was quirky, the random conservatory with no view, yes the bathroom ruined it, yes the finish ina few areas was not exactly pristine (The breakfast area looked like it had been stopped half way through finishing it). The plot is a strange shape but it might have worked. The problem is the house effectively was an island in the middle so you had a small area all around the house and the biggest space was at the front, only really to be used as parking. And then the little wedge you have at the back for a garden has to be seen to be believed. The photos don't do it justice. The slope/fall of it is unbelievable. it is not even remotely level. With small kids it would never have worked and my bed would not have fitted so I'm out.

So yes, It was a house best suited for blind pixies with mountain goats for pets. Sorry. And I bet it will sell to a pair of yuppies with no chins, a HTB 95% mortgage and £5k of RM shares

EDIT: Photos now up. No major surprises although I'm sure the neighbours won't be so pleased with their garden overlooked by the increased conservatory. Would you really use it? I know you're not a fan V, my wife hates them too. Redone the kitchen but from the picture it doesn't even look like it would cost £3k retail let alone cost to a developer. Don't think bathroom was done, it looked very similar before.

And the buyers won't have £5k of RM shares, will they.

Edited October 10, 2013 by 7 Year Itch

[Venger]

Thanks for sharing your thoughts there 7YI, and from comparing the new floorplan and external pics with the old. That was a good read. I like the way you put your trained technical mind/professional expertise into considering the site, including with the fall. Best to be able to do that, before allowing emotions to lead a purchase.

Whilst news is bad at the moment, with HtB2, I'm still hopeful of some sort of opposite market reaction, including improved inventory to market, especially at mid-market range. There's a few hints I'm seeing around in different areas, and in the rental market. Although could be misleading myself, and this flip heading straight to someone who sees HtB2 as free money.

Re 'J'. Hehe. For a moment I was worried I'd not been as cynical as you there, then I remembered I had been, having done a search a while ago. High likelihood same person as our J here, I would have thought. Seems legit to me, and mostly 'on our side' / the fair side of things. (click the 'continued' links for full details from each entry.. I've not read each one though). Maybe you're correct about the other person posting claiming 'knew the owners'.

http://boards.fool.co.uk/LastPosts.asp?uid=15747781&limit=10&byrecs=y

Market conditions certainly given me a lot of healthy cynicism, with steel to handle the attrition of policy-action(QE) and politicians/media view/family and friends VI. It's where I draw my strength to continue on from. And I'm hoping it helps with checking everything that's relevant to a house purchase, to avoid the bigger mistakes, and for fewer minor oversights, if and when the market turns enough that I'm ready to buy.

[19 year mortgage 8itch]

Thanks for sharing your thoughts there 7YI, and from comparing the new floorplan and external pics with the old. That was a good read. I like the way you put your trained technical mind/professional expertise into considering the site, including with the fall. Best to be able to do that, before allowing emotions to lead a purchase.

Whilst news is bad at the moment, with HtB2, I'm still hopeful of some sort of opposite market reaction, including improved inventory to market, especially at mid-market range. There's a few hints I'm seeing around in different areas, and in the rental market. Although could be misleading myself, and this flip heading straight to someone who sees HtB2 as free money.

Re 'J'. Hehe. For a moment I was worried I'd not been as cynical as you there, then I remembered I had been, having done a search a while ago. High likelihood same person as our J here, I would have thought. Seems legit to me, and mostly 'on our side' / the fair side of things. (click the 'continued' links for full details from each entry.. I've not read each one though). Maybe you're correct about the other person posting claiming 'knew the owners'.

http://boards.fool.co.uk/LastPosts.asp?uid=15747781&limit=10&byrecs=y

Market conditions certainly given me a lot of healthy cynicism, with steel to handle the attrition of policy-action(QE) and politicians/media view/family and friends VI. It's where I draw my strength to continue on from. And I'm hoping it helps with checking everything that's relevant to a house purchase, to avoid the bigger mistakes, and for fewer minor oversights, if and when the market turns enough that I'm ready to buy.

Just edited my post with critique of new photos. There was a semi on Clarence road, recently gone sstc at £300k asking. Less than 100m away but it was better in every respect, even as a semi.

[Venger]

Just edited my post with critique of new photos. There was a semi on Clarence road, recently gone sstc at £300k asking. Less than 100m away but it was better in every respect, even as a semi.

I recall one there being discussed on the Hale thread. This one? http://www.rightmove.co.uk/property-for-sale/property-42146399.html

If so, I take your point about it being better in every respect, even as a semi. So the flip has real competition around. On my PB that Clarence Road semi (link above) has gone from Sold STC to null today, although that may not mean anything.

I'm not particular taken by how the road seems higher up than the house. The dip and then the tall hedge blocks off the view of the house from the road. Bit of an impression it's sinking, viewing from the road side. I can understand privacy, but with a pretty house I'd like to, see and enjoy it properly from the road. Hedge looks taller on the listing pic, than it does from when streetview passed by, using the gate as a reference. Could have tidied it up for listing pics maybe?

This may be it again, from listing pics just before it last sold in late 2009, at just under £250K. When we were hoping for more real value to emerge, 'in the cheap seats', just before HPI kicked in again on the back of QE and other stimulus, to give a limited window and mostly save very high house prices on behalf of older interests and the over-indebted.

http://www.rightmove.co.uk/house-prices/detailMatching.html?prop=22372399&sale=42247724&country=england

[sisyphal]

Prices up 50% since 2001 in Bramhall apparently

Sold for £140K in 2001

http://www.rightmove.co.uk/house-prices/detailMatching.html?prop=43392779&sale=45354386&country=england

New to the market today at £200.

http://www.rightmove.co.uk/property-for-sale/property-43392779.html

[19 year mortgage 8itch]

Prices up 50% since 2001 in Bramhall apparently

Sold for £140K in 2011

http://www.rightmove.co.uk/house-prices/detailMatching.html?prop=43392779&sale=45354386&country=england

New to the market today at £200.

http://www.rightmove.co.uk/property-for-sale/property-43392779.html

You should change that first one to 2011

People are now looking back as 2009-11 being 'the dip'. Whatever they bought in that period was 'a bargain' and now they are in a perfect position to realise 20-30% 'profit'.

Easy money.

[sisyphal]

You should change that first one to 2011

Whoops, thanks for the catch. Don't think I get to edit posts yet.

People are now looking back as 2009-11 being 'the dip'. Whatever they bought in that period was 'a bargain' and now they are in a perfect position to realise 20-30% 'profit'.

That's pretty much what I'm witnessing too unfortunately. It wasn't selling before, but it is now :S

I'm in the process of moving (within Stockport) and have seen things go from 'the market is dead' in June, the 'bubble is back' right now.

I'm putting a lot of stock in what HonestEA has said and sitting tight until early next year, and hoping there's a lot of new supply come Q1 2014 to put a dampner on this.

[Venger]

in Bramhall apparently

That's really just only on edge of 'Bramhall' imo. Would do my research on things, with it looking to be close to Adswood tip/landfill/recycling centre.

A long time ago a school-friend of mine lived in a very similar house very nearby, with the same white trim/panelling. Except it had an internal garage iirc. At the time I thought it was a pretty cool house, (and it was always warm when I visited) functional use of space, and not that bad looking, my then limited world-view being it could pass for a Swiss/Scandinavian suburban house. Can't comprehend the now asking price of the house in your link though.

[Venger]

BTW - I'm still got the same fondness of such houses as back when I was a teenager.

3 storey townhouses with the white trim.

Ok, they lack the character, elaborate trim and cachet of many period houses... but for practical living, I think they're very good, and they still have something of an appealing look to me. I'd rather have one of those houses, although in a different area, than almost all mid-market newbuilds I've seen built during the boom and in recent years. You see more 2-floor versions but they just don't do anything for me.

Closer look at it and seems to have had works since streetview passed (internal garage gone?), and at a guess, perhaps the extension at the back? Even though it last sold in 2011, I'm not sure if it was the buyer intended to flip it from the beginning. Hard to tell.

Don't think I'd hesitate to buy such a 3-floor house if one came up in one of my target areas for a deal at the right price, although you don't see many such houses. There are funky cool to me. I like these in Prestbury, but it's too far out for me (and too close to the water for my liking), and from what I can tell is flat-roof, which is a no-go for me. http://www.rightmove...y-41087578.html

Edited November 7, 2013 by Venger

[Venger]

Son of a.... it's everywhere I look. Landlords busting in on everything. In search of the precious yield lol, for most of them, with their "it's not earning anything in the bank" clever attitudes (mistakes imo).

Sold Jun 2011 for £265,000 : http://www.rightmove...country=england

(Just below what it sold for in in 2007 @ £270,000, and below sold price of £285,000 in 2005, but still way above its year 2000 sold price of £137,500... which for me is about where value is, in this world of red-ink balance sheets)

Yours now to rent for £1,250pm http://www.rightmove...y-41381857.html

(Unless they bought to own, and unexpected circumstances have forced them to rent it out. Just thinking.. with a piano in there, and other indications.)

Edited November 7, 2013 by Venger

[sisyphal]

BTW - I'm still got the same fondness of such houses as back when I was a teenager.

3 storey townhouses with the white trim.

Ok, they lack the character, elaborate trim and cachet of many period houses... but for practical living, I think they're very good, and they still have something of an appealing look to me. I'd rather have one of those houses, although in a different area, than almost all mid-market newbuilds I've seen built during the boom and in recent years. You see more 2-floor versions but they just don't do anything for me.

Closer look at it and seems to have had works since streetview passed (internal garage gone?), and at a guess, perhaps the extension at the back? Even though it last sold in 2011, I'm not sure if it was the buyer intended to flip it from the beginning. Hard to tell.

Don't think I'd hesitate to buy such a 3-floor house if one came up in one of my target areas for a deal at the right price, although you don't see many such houses. There are funky cool to me. I like these in Prestbury, but it's too far out for me (and too close to the water for my liking), and from what I can tell is flat-roof, which is a no-go for me. http://www.rightmove...y-41087578.html

I'm a fan of those townhouses too, they're usually good value for money. Pity the wife isn't as she's not a fan of a first floor kitchen (amongst other things).

[sisyphal]

Son of a.... it's everywhere I look. Landlords busting in on everything. In search of the precious yield lol, for most of them, with their "it's not earning anything in the bank" clever attitudes (mistakes imo).

It's everywhere I look too. Romiley is one of my target areas:

Asking £200: http://www.rightmove.co.uk/property-for-sale/property-43675310.html

Last sold for £167 just before peak: http://www.rightmove.co.uk/house-prices/detailMatching.html?prop=43675310&sale=30181886&country=england

Asking £190: http://www.rightmove.co.uk/property-for-sale/property-41500522.html

Next door (almost identical) sold for £160 12 months ago: http://www.rightmove.co.uk/house-prices/detailMatching.html?prop=23513088&sale=48303569&country=england

Think I'm going to have to change my strategy (just agreed to sell mine and looking to upsize) I can't/won't compete with this.

[19 year mortgage 8itch]

I'm a fan of those townhouses too, they're usually good value for money. Pity the wife isn't as she's not a fan of a first floor kitchen (amongst other things).

This would be my thought too. Maybe when my kids are older it would be ok.

[19 year mortgage 8itch]

Son of a.... it's everywhere I look. Landlords busting in on everything. In search of the precious yield lol, for most of them, with their "it's not earning anything in the bank" clever attitudes (mistakes imo).

Sold Jun 2011 for £265,000 : http://www.rightmove...country=england

(Just below what it sold for in in 2007 @ £270,000, and below sold price of £285,000 in 2005, but still way above its year 2000 sold price of £137,500... which for me is about where value is, in this world of red-ink balance sheets)

Yours now to rent for £1,250pm http://www.rightmove...y-41381857.html

(Unless they bought to own, and unexpected circumstances have forced them to rent it out. Just thinking.. with a piano in there, and other indications.)

Quite possibly. I wouldn't be so quick to jump to conclusion having made similar mistakes in the past. A call to the agent should sort it out.