7 Bed In Salford M7

[Andy T]

Came across this one by chance, was startled by the asking price relative to 'last sale' price, it's 'increased' by over 10 times !!

Sold for 25k in 1998, now asking £265k.... crazy.

Actually quite a nice road (well it would of been 100 years ago) some lovely Victorian houses on there but not a very nice area in general.

http://www.zoopla.co.uk/for-sale/details/31261919?more_details_carousel=1_carousel=1

[19 year mortgage 8itch]

Convenient for synagogue or orthodox church but I think I'll pass.

[R K]

Convenient for synagogue or orthodox church but I think I'll pass.

It is.

'98 price may have been a flat in the building. Lots of those lovely old Victorian houses which would have had a multi-generational family in 100 years ago were/are now flats.

If you could squeeze 6 or 7 students into it, that sort of house would sell for c . £1m in the right student location purely on the yield.

Edited December 24, 2013 by R K

[19 year mortgage 8itch]

Go for it.

In the spirit of cooperation, I won't bid against you. You have my word.

[19 year mortgage 8itch]

I've lived in a big shared house here. Far better area

http://www.rightmove.co.uk/house-prices/M14/Granville-Road.html

http://www.rightmove.co.uk/property-to-rent/property-36228394.html

Not sure you're going to get your million by letting to students in many locales.

[Venger]

If you could squeeze 6 or 7 students into it, that sort of house would sell for c . £1m in the right student location purely on the yield.

Which location would that be in the NW, for such a house? Sounds totally barmy to me. For people prepared to pay £1m for such houses in the NW, on some students/lha-bedroom shift change yield, they better get used to not thinking of money as wealth.

And the hassle / problems.

19-07-2013,10:10 AM

Why are so many HMOs for auction in the Manchester area?

Looking at Edward Mellors lots for their next auction, there seems to be lots of HMOs, does anyone know what is going on?

And there's extra hoops to jump through, iirc, with Dwellinghouses to HMOs now + my bet is on tighter regulation still, what with licenses, and that they're subject to big valuation drops.

Manchester City Council has made an Article 4 Direction to remove permitted

development rights that allow for a change of use from Class C3 - Dwellinghouses to

Class C4 - House in Multiple Occupation. This means that from 8 October 2011,

planning permission is required for a change of use from a Dwellinghouse to a House in

Multiple Occupation.

[Andy T]

Which location would that be in the NW, for such a house? Sounds totally barmy to me. For people prepared to pay £1m for such houses in the NW, on some students/lha-bedroom shift change yield, they better get used to not thinking of money as wealth.

And the hassle / problems.

And there's extra hoops to jump through, iirc, with Dwellinghouses to HMOs now + my bet is on tighter regulation still, what with licenses, and that they're subject to big valuation drops.

£1m? another house on the same road in M7 (7 bed Vic Terrace) bought for £116k in 2009, sold for £210k in 2011, looks like it was converted to HMO. In Fallowfield large Victorian semi's as HMO's are around £250k and there seems to be a lot of them come on the market recently.