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Converted Lurker

Property Auction In Liverpool Yesterday Morning

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Venmore have downsized the programme completely. Now held in a small suite in a new hotel as opposed to the huge suite used in the Adelphi 18 months ago. Started at 12, 2 hours later than some previous, plenty of seats available. After approx. lot thirty half had left, curious to know why.

There were 93 lots, I reckon the auctioneers gavel went down as sold only 20-25 times. The rest of the lots, nearly seventy, were withdrawn or didn`t reach the reserve.

The atmosphere was strange, no buzz or excitement that accompanied auctions in the past, I`d estimate that only 3 or 4 lots had buyers competing, even that didn`t last long.

The auctioneer really struggled to get first bids, typically he repeated the starting prices a dozen times, plenty received no bids whatsoever.

Items that raised an eyebrow, 2 opportunities to buy land with full planning permission, including all the architect plans etc. begs the question why doesn`t the developer follow through and do it themselves?..hmmm <_< Didnt sell in any event.

Small terraces near me usually sell for 125-135, one for sale in good order could not reach 105 and was withdrawn. Now these have previously been snapped up, there`s a visible 20-25% drop in market value for any one to see as these are the entry level properties in my area.

Interesting times ahead :)

Edited by Converted Lurker

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Very interesting, Kirsty and Phil's magazine this month stated that Liverpool and Leeds are rising at the highest rates in the country atm, doesn't say much for the rest then does it :lol:

I always rate auctions as the best indication of market sentiment, albeit a lagging one. There is no seasonally adjusted mixed up methodology to be tinkered with, the evidence is compelling. Developers, builders, newbie BTL players, hardly in evidence. One or two LLs, that have been in the game for twenty years, keeping their hands firmly in their pockets. Bear in mind they were buying terraces in Everton/Anfield for 15K 5 years ago, they`re not going to pay 50-60K now, the yields don`t stack up for them. The last three auctions have seen significant falls in sales values and volumes, my overall impression yesterday is that there was very little money in the room <_<

Seriously the sentiment, or lack of it, on evidence yesterday will feed through in the next few months, if I were you I`d be offering 240 for every 300 ;)

Edited by Converted Lurker

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Lurker,

looking good for us!!!!

Been doing a fair bit of research on the Liverpool prices, and it seems the city living WAS the thing propping it up (outside investors etc) but look at L3,L2,L1 City centre now for flats!

They are dropping like a whores knickers!

Liverpool has seen MASSIVE rises that are way off target to the average wage - I expect up to 50% off insome areas over the coming years! And I believe that is realistic. Based on REAL average wage I would say that Liverpool was more expensive than the Souff! IN RATIO!

Which means, the bigger they are, the harder they fall!

City of vultures NOW is officially the right time to F*CK OFF!!

:)

MONDAY 5TH DECEMBER WAS, OFFICIALLY, A VERY GOOD DAY INDEED :)

Edited by teddyboy

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Lurker,

looking good for us!!!!

Been doing a fair bit of research on the Liverpool prices, and it seems the city living WAS the thing propping it up (outside investors etc) but look at L3,L2,L1 City centre now for flats!

They are dropping like a whores knickers!

Liverpool has seen MASSIVE rises that are way off target to the average wage - I expect up to 50% off insome areas over the coming years! And I believe that is realistic. Based on REAL average wage I would say that Liverpool was more expensive than the Souff! IN RATIO!

Which means, the bigger they are, the harder they fall!

City of vultures NOW is officially the right time to F*CK OFF!!

:)

MONDAY 5TH DECEMBER WAS, OFFICIALLY, A VERY GOOD DAY INDEED :)

There were 2 units for sale from the view 147 development in the last auction. Identical bar one floor higher, 7th and 8th (let`s face it the view is awful) the 7th floor was guide price of 80K, 8th floor 70K for some strange reason. Didn`t sell, some cheeky bloke apparently offered 130K for the two post sale, these are nearly back to their original selling prices of 18 months ago :blink:

Certainly close to, or in the city centre I`d agree that a lot of property is massively over priced, the worst for me has to be the Albany. The only apartment development without lifts :o

This Big Dig is not going to be finished in time for this Emperor`s new clothes nonsense that is capital of culture 2008, I hear an estimate that council tax will be rising by 30% over the next 2 years to pay for it, that could be the real reason the leader of the council resigned ;)

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Could be right about M S (ex-leader).

He seemed to come across a sincere leader and I am sure that he would step down if there was something he strongly disagreed with.

Time will tell. Im sure the people of Liverpool will not take any rises of that proportion lightly.

TOXTETH '81 comes to mind???

LURKER have you tried sending any BEAR articles or BEAR biased DATA ANALYSIS to the ECHO or Daily Post?

I think that their property sections might show a bias towards the EA's but they do LIKE to uncover injustices?

We could set up an ACTION GROUP called SCOUSE HOUSE!

:):)

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Could be right about M S (ex-leader).

He seemed to come across a sincere leader and I am sure that he would step down if there was something he strongly disagreed with.

Time will tell. Im sure the people of Liverpool will not take any rises of that proportion lightly.

TOXTETH '81 comes to mind???

LURKER have you tried sending any BEAR articles or BEAR biased DATA ANALYSIS to the ECHO or Daily Post?

I think that their property sections might show a bias towards the EA's but they do LIKE to uncover injustices?

We could set up an ACTION GROUP called SCOUSE HOUSE!

:):)

Yes, they don`t like me :(:P

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Yeah,

Dead right Teddy Boy, been discussing the same thing with my workmates. Liverpool City Centre is gonna be a 21st Century Ghetto with all these so called "Luxury Exclusive" Flats, once 2008 has been and gone, and all the Big Noises from Down South have taken their money elsewhere to devour the next big thing with their greed, these structures, (which are quite frankly ugly) will be left to rot 'cos no-one in this City will be able to afford to live in one, not that they'd want to anyway...they will become the dwellings of Asylum Seekers and Smack Head Single Mum's on benefits.

Who is stupid enough to want to live in a High Rise Flat just 'cos it's called an "Apartment"?, they're just as unsightly as the blocks they knocked down in Kensington and Croxteth a while back, only idiot out-of-towners would be stupid enough to live in the centre of Hell. A guy who I work with, (Southerner, but sound) lives in a new "Apartment" in Liverpool City Centre, £180,000 he paid for it, put £80,000 down and has a £100,000 mortgage!

Anyway, isn't something deemed "Exclusive" described so because of their limited numbers, outstanding build quality and desirable location?

msp

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The flat sales thing is interesting in Liverpool. I am working on on large development just outside the centre and it has sold out off plan.

I think a lot of people are buying these for their kids to live in whilst at University in the hope that they can sell it on for at least the same price in 3-4 years to recoup the money. I know this because another development I worked on in Manchester did the same.

Liverpool is lagging a long way behind Manchester in terms of flat development. It has only really started to any significant degree in the last 18 months. I know many more are planned.

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Yeah,

Dead right Teddy Boy, been discussing the same thing with my workmates. Liverpool City Centre is gonna be a 21st Century Ghetto with all these so called "Luxury Exclusive" Flats, once 2008 has been and gone, and all the Big Noises from Down South have taken their money elsewhere to devour the next big thing with their greed, these structures, (which are quite frankly ugly) will be left to rot 'cos no-one in this City will be able to afford to live in one, not that they'd want to anyway...they will become the dwellings of Asylum Seekers and Smack Head Single Mum's on benefits.

Who is stupid enough to want to live in a High Rise Flat just 'cos it's called an "Apartment"?, they're just as unsightly as the blocks they knocked down in Kensington and Croxteth a while back, only idiot out-of-towners would be stupid enough to live in the centre of Hell. A guy who I work with, (Southerner, but sound) lives in a new "Apartment" in Liverpool City Centre, £180,000 he paid for it, put £80,000 down and has a £100,000 mortgage!

I had an interesting conversation with one developer a couple of months back, this is worth repeating, his view was that all the apartments would be lived in due to the Grosvenor development, which as you know will deliver more shops by simply shifting the focus of retail from one part of the city to another. His logic was this, 12,000 extra jobs will be created and all these workers will need somewhere close to the city to live :o My reply that most of them would be earning 15K, as that was the average salary in retail, and that as a consequence they would struggle to afford his 150K flats was met with a puzzled look. "That`s OK they`ll all kop off and can afford it jointly" :P However, that will, by his estimate, leave half of the units empty :D

Edited by Converted Lurker

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Don't you think that the slow down in the economy will mean there aren't many retailers willing/able to open up in the Grosvenor complex? So we'll have empty flats, sorry apartments, empty retail space and no tram to get between any of them! Should look nice though, that's the main thing don't you think ? <_<

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The flat sales thing is interesting in Liverpool. I am working on on large development just outside the centre and it has sold out off plan.

I think a lot of people are buying these for their kids to live in whilst at University in the hope that they can sell it on for at least the same price in 3-4 years to recoup the money. I know this because another development I worked on in Manchester did the same.

Liverpool is lagging a long way behind Manchester in terms of flat development. It has only really started to any significant degree in the last 18 months. I know many more are planned.

Hopefully they bought not just for their kids but to then put into their SIPP..he..he! This annoys me, why do so many feel the need to do a Cheryl Blair and buy somewhere for their kids to live whilst at Uni? Oh, I remember why now, rent is dead money

:D

Edited by Converted Lurker

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When you walk around Liverpool today you cannot fail to there are vast numbers of muslims going about in niqab/veils, who cannot speak much english, with many other immigrants. A vast influx of mass immigration means that the city is totally different from just a few years ago.

They all have to live in dwellings, funded by housing benefit (to pay rent all those rich southerners who knew the mass immigration hidden government policy), in turn paid for by higher local taxes. Most of the housing stock around L1,2,3 etc.. has been bought up for this purpose.

Locals were of course the last to know our community would be a 'asylum dispersal zone', or how immense the influx would be.

Apart from a lot of smaller businesses such as corner shops I cannot see any real skills/value added to the local economy as the skillbase is so low and very large ghetto areas have already formed. A large amount of the increase in non-jobs are now providing services to this community.

If Liverpool is anything to go by on the large population influx outlined by the the University of Bristol Study/BBC, the recent very massive flows of immigration must contain a very large number of basically unadaptable 'bodies', with very low skill levels and education, but plenty of costs for housing, education etc... This, in addition to the 2nd round effects (you get the 'good bit' from young worker immigrants 1st, followed by rising social and longer term costs as family are imported etc..) will drop productivity further in the private sector as costs(taxes) rise.

And in advance of all the bears shouting nonsense at mass immigration not being a fact - just look at the Crimestoppers most wanted website to see what I am talking about in relation to the quality and skillbase of immigration - http://www.crimestoppers-uk.org/wanted/ukmostwanted/

Certainly the yield curve is starting to point to lower expansion going forward.

Edited by brainclamp

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I think I might go back down to Warwickshire :( It's a shame because the City of Culture did great things for Glasgow, Liverpool should be milking it. As for the council tax, Wirral MBC can't put it up any more surely ? It's daylight robbery as it is.

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Don't you think that the slow down in the economy will mean there aren't many retailers willing/able to open up in the Grosvenor complex? So we'll have empty flats, sorry apartments, empty retail space and no tram to get between any of them! Should look nice though, that's the main thing don't you think ? <_<

Spot on and welcome :) From a personal point of view I detest the lack of planning that leads to the decision of simply building one shopping complex so near to another, displacement is all that occurs surely, unless you have a wave of 500K extra employed bodies this will surely end in tears? How can any economy be sustainable on shops alone, a recipe for deflation IMHO :huh:

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What's the deal with auctions people - do you have to pay to attend? Or can you just turn up. There are two coming up in Swansea after Christmas and I feel like doing some sniffing around.

You should attend , shame is you can`t compare the athmosphere to that of 18 months ago to now, I`ve noticed a distinct change. They are a very good indicator of sentiment IMHO. Pay? no..catalogues are generally free on the day..if you do attend share your thoughts ;)

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What's the deal with auctions people - do you have to pay to attend? Or can you just turn up. There are two coming up in Swansea after Christmas and I feel like doing some sniffing around.

Just pop along.

They can get a bit boring if you stay long, you can walk in late, the places are usually bustling with people.

If you do go along try and visit a couple of properties that you would interest you, and establish as accurately as you can how much you think they're worth.

Then sit back and watch what the market thinks.

I also sometimes stand at the front of the auctions, just to watch the faces of the people bidding, it's quite interesting to see a young girl bidding and an experienced landlord bidding.

Also watch for tactics, the experienced buyers only start to bid towards the end of each sale, and see if you can catch the auctioneer taking bids "off the wall"( ie out of thin air)

Definitely worth going along, I will start going more often as the time to buy approaches.

Edited by BandWagon

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Just pop along.

They can get a bit boring if you stay long, you can walk in late, the places are usually bustling with people.

If you do go along try and visit a couple of properties that you would interest you, and establish as accurately as you can how much you think they're worth.

Then sit back and watch what the market thinks.

I also sometimes stand at the front of the auctions, just to watch the faces of the people bidding, it's quite interesting to see a young girl bidding and an experienced landlord bidding.

Also watch for tactics, the experienced buyers only start to bid towards the end of each sale, and see if you can catch the auctioneer taking bids "off the wall"( ie out of thin air)

Definitely worth going along, I will start going more often as the time to buy approaches.

Off the wall..saw that several times last week, I`m sure he pointed in my general direction, I was at the back and could see no one bidding in my eye line. A few sales appeared to be livened up by phone or proxy bids also..

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WALL BIDDING

Yet another example of FRAUD that a blind eye is turned to.

I am not racist but it does make you wonder when the majority of immigrants come to this country. Get free housing and benefits. Commit a LARGE majority of the crime and what de we do for the British people in return? Outprice them for housing, FORCE you to take a crap job because we send all their jobs to India!!!!

http://news.bbc.co.uk/1/hi/england/derbyshire/4525010.stm

And the company is called BRITISH Telecom FFS!

GREAT BRITAIN MY ASS!!!

Whilst I'm on my rant! This is a spokesperson from BT

BT spokesman Mike Jarvis said the firm is confident the move to India will be done "without sacrificing the quality of the call centre service".

Have you every spoke to anyone from Microsoft (XBOX)? Can't understand a bloody word they say!

Its the same with a guy in work getting a mortgage with the HALIFAX. Put through to India and this guy is saying things to him in punjabi or something (bad english) which he could not understand! This was the paperwork for a mortgage for £80,000 FFS - should these details not be CONCISE!!!

I DESPAIR!

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  • 301 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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