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Tallest In Manchester All Sold Out


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HOLA441

Thanks for the clarification Brian. As you may have guessed, I'm not in the industry, this was just a hunch about why the amount of apartment construction I see in Manchester is certainly very bullish right now, despite the conflicting bearish news!

All the best to you, anyhow.

cheers, megaflop.

I suffered in the downturn of the early 90's and it took until at least 97 to see shoots of recovery again.

The apartments in Manchester are complete overkill. I personally (as a freelance Planning Engineer) have worked on at least 2000 flats in the last 2-3 years. I thought the bubble would burst 2 years ago but its still going.

However, itf you want anecdotal evidence of oversupply look in the large EA at the corner of Piccadilly Gardens on Portland St. There are dozens and dozens of btl flats available. Renters have tons of choice with more to follow.

What has alarmed me being in construction and meeting clients is the amount of small time developers which are springing up. Land has become comically high in price - to the point where there is no scope in building a property even if its for yourself. It really is madness.

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HOLA442

cheers, megaflop.

I suffered in the downturn of the early 90's and it took until at least 97 to see shoots of recovery again.

The apartments in Manchester are complete overkill. I personally (as a freelance Planning Engineer) have worked on at least 2000 flats in the last 2-3 years. I thought the bubble would burst 2 years ago but its still going.

However, itf you want anecdotal evidence of oversupply look in the large EA at the corner of Piccadilly Gardens on Portland St. There are dozens and dozens of btl flats available. Renters have tons of choice with more to follow.

What has alarmed me being in construction and meeting clients is the amount of small time developers which are springing up. Land has become comically high in price - to the point where there is no scope in building a property even if its for yourself. It really is madness.

...the growing no. of flats agents are advertising which end ' no chain' is comical. Ive been saying for a while that when the correction comes, city centre Manc will be hit hard. In relation to Land Prices, speaking to some Land-buyers from Woodfords last week, made exactly the same comment as you Brian.

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HOLA443

However, itf you want anecdotal evidence of oversupply look in the large EA at the corner of Piccadilly Gardens on Portland St.

Thanks, I will endeavour to do that. I have been viewing the situation on the drive in to work, and perusing Rightmove.

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HOLA444

Skyscapers in Manchester? LOL. Serioulsy though, looks cool. Shame no one can afford to live in them. :rolleyes: I guarantee you will see tons of for sale signs, and to let signs, then auctions though. There needs to be a balance between these investor bastards and people who actually want to/live in them.

As yet the government has done nothing to prevent uber rich people etc. buying up houses and flats that would be otherwise bought by young people. So what if its a free market economy, doesn't mean you have no regulation. A more forthright policy would be caps on HPI by law, so that its in-line with wage inflation-- thus leaving houses for what they in essence should be: homes, and having a more normal growth economy, not something that booms then busts (which will happend btw). Now many people are spent up whether it be:

MEW

"Doing up the house" a la spending £1k in order to receive 10k back pfft.

Everyone is card crazy

Everyone now has "the in gadget" -- ipod, dvd, plasma etc.

More people have two mortgages and are very highly geared (recipe for disaster)

Average starter home (not including plastic crap 200sqft flats) is much more expensive -- thus reducing expendable income if people buy one

People have purchased outside the UK thus reducing the amount of money within these shores

Many people have maxed out store cards (hence rise in debt adverts)

I think the older generation would agree they were taught to save, whilst the new generation have been taught to spend?

There is no room for further growth, no has any money left apart from uber rich property goon (who should be regulated).

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HOLA445
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HOLA446

Where are you from George? I guess your American if you're laughing at "skyscrapers" in the UK??

:lol:

"In my case usually on Regent road .."

I'm on Exchange Quay. Most cranes are property. However, some have been building my employer a new building, and others have been erecting a stand extension for Malcom Glazer Rovers F.C.

:lol:

Edited by megaflop
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HOLA447

Where are you from George? I guess your American if you're laughing at "skyscrapers" in the UK??

:lol:

"In my case usually on Regent road .."

I'm on Exchange Quay. Most cranes are property. However, some have been building my employer a new building, and others have been erecting a stand extension for Malcom Glazer Rovers F.C.

:lol:

Exchange quay, is that where 'moonbar' is?

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HOLA448

Exchange quay, is that where 'moonbar' is?

I have no idea about 'moonbar'. It's the arty-farty business block with the blue and white "skyscrapers", fancy waterfalls, and a large patio area with benches and little shops, and a pub/cafe.

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HOLA449

Where are you from George? I guess your American if you're laughing at "skyscrapers" in the UK??

:lol:

"In my case usually on Regent road .."

I'm on Exchange Quay. Most cranes are property. However, some have been building my employer a new building, and others have been erecting a stand extension for Malcom Glazer Rovers F.C.

:lol:

My dad worked on exchange quay in 1990 just before the whole industry went tits-up.

1991:

Dad got made redundant

I got made redundant

Worst recession in living memory. What a christmas that was in our house.

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HOLA4410

My dad worked on exchange quay in 1990 just before the whole industry went tits-up.

Really? I found a web site by a geeky skyscraper enthusiast who catalogued the dates and photographed the building of these. Amongst other buildings around here, of course!

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HOLA4411

Really? I found a web site by a geeky skyscraper enthusiast who catalogued the dates and photographed the building of these. Amongst other buildings around here, of course!

It was a joint Laing/Shepherd Design & Build project totalling £66m, I believe.

Walked around the site in early 1991 with my Dad - was a big job for the time.

Im being an boring b'stard now.

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HOLA4412

...the growing no. of flats agents are advertising which end ' no chain' is comical. Ive been saying for a while that when the correction comes, city centre Manc will be hit hard. In relation to Land Prices, speaking to some Land-buyers from Woodfords last week, made exactly the same comment as you Brian.

IMO, these city centre 'bespoke luxury' apartments will be full of, erm, (how does one put it?)...scum in ten years time. City Centre living is all the rage now but fashions change. After the forthcoming bust these places will be so cheap to rent that all sorts of people will be able to move in, from all backgrounds. What gets me is that 1960s tower blocks were huge inside by comparison, a full sized separate kitchen, balcony, large living room etc etc. These trendy shoeboxes are a joke.

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HOLA4413
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HOLA4414

I presume this is another sign that the market is crashing then ?!

Crash ? - not a snowballs chance in hell of a crash !

Why do you think this has anything to do with the general housing market.

Next thing you'll be saying because a development in Knightsbridge is selling well - it proves the whole market is doing well.

Those flats are just for the wealthiest people in the country - they prove nothing - other than the fact that footballers are paid ludicrous amounts of money.

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HOLA4415
  • 3 years later...
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HOLA4416
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HOLA4417
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HOLA4418
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HOLA4419
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HOLA4420
Guest theboltonfury
I just read the first few posts thinking it was a new thread and was a bit gobsmacked!

Then I realised it was 3 years old! :)

Nomadd

+1

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HOLA4421

Yes to the surprise bit, I checked the dates and had a look round for more info on it.

http://newpaper.asia1.com.sg/sports/story/...,191979,00.html

From an article published this month:

MICHAEL OWEN

OWEN, who paid £750,000 for a cul-de-sac of five homes on the outskirts of Chester for his family in 2001, has also seen the value of a flat he gave to his sister tumble.

When the Newcastle star bought the two-bedroom flat in Liverpool's Beetham Tower in 2004, it was worth about £205,000.

Eighteen months ago, a similar flat was sold at an auction for £96,000 and average prices have fallen by another 15 per cent since then.

Not that well then...

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HOLA4423

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