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AvidFan

Brierley Hill, Stourbridge, West Midlands

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An okay little part of the country, right on the border of Staffordshire, Hereford & Worcester and Shropshire.

Look at the two entries attached - screen grabbed from rightmove.co.uk today.

I swear the 1 bedders were 72K for around 3-4 months and 79K before that, with the 2-bedders going for between 82K and 89K over the same period - I think the 2-bedders were 99K going back to 2004. Six years ago they were around 35-40K.

Now on for 62K. And every other property in that block will have to match that price if the vendors want to sell.

And so it begins...

BRING IT ON

:D

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040106b.jpg

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post-2575-1136397909_thumb.jpg

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An okay little part of the country, right on the border of Staffordshire, Hereford & Worcester and Shropshire.

Look at the two entries attached - screen grabbed from rightmove.co.uk today.

I swear the 1 bedders were 72K for around 3-4 months and 79K before that, with the 2-bedders going for between 82K and 89K over the same period - I think the 2-bedders were 99K going back to 2004. Six years ago they were around 35-40K.

Now on for 62K. And every other property in that block will have to match that price if the vendors want to sell.

And so it begins...

BRING IT ON

:D

Thanks for that avid. I live near Worcester ("It's a swingin' town..." as Frank sang) and are watching things round Malvern like hawks. Nothing seems to be shifting. In fact there's an EA called Denny and Salmond who have a load of Sold signs around - 3 have been up for almost a year now! Wierd. THey have a For Sale sign up just as you get into Malvern Link that (I swear) has been up for 2 years.

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Sorry to burst yet another HPC bubble but your wrong :lol:

Firstly, these flats are not in an ok little part of the country, they are in an area called Brierley Hill close to the Merry Hill shopping centre and almost in the heart of the old Blackcountry.

Brierley hill isnt too bad if you like being surrounded by roads and factories and brownfield sites.

And brownfield sites is exactly what these type of development were probably built on.

It is a boxlike, souless estate and the properties have ALWAYS taken a good old while to sell if they sell at all.

How do I know? Becasue I used to try and sell identical flats in 1996 - 1999.

2 beds HAVE NEVER SOLD FOR £99,000 - Doooohhhhhhhhh

Check http://www.nethouseprices.com/index.php?co...mit=0&curPage=1

The highest one off price for a flat was £92,000 which I can almost guarantee was a dodgy deal, the rest average low to mid £80,000's

The really embarrasing thing for you is that you have only posted the negative bits.

Another HPC crash bubble burst

Sorry

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Sorry to burst yet another HPC bubble but your wrong :lol:

Firstly, these flats are not in an ok little part of the country, they are in an area called Brierley Hill close to the Merry Hill shopping centre and almost in the heart of the old Blackcountry.

Brierley hill isnt too bad if you like being surrounded by roads and factories and brownfield sites.

And brownfield sites is exactly what these type of development were probably built on.

It is a boxlike, souless estate and the properties have ALWAYS taken a good old while to sell if they sell at all.

How do I know? Becasue I used to try and sell identical flats in 1996 - 1999.

2 beds HAVE NEVER SOLD FOR £99,000 - Doooohhhhhhhhh

Check http://www.nethouseprices.com/index.php?co...mit=0&curPage=1

The highest one off price for a flat was £92,000 which I can almost guarantee was a dodgy deal, the rest average low to mid £80,000's

The really embarrasing thing for you is that you have only posted the negative bits.

Another HPC crash bubble burst

Sorry

I am not really getting this - the highest was sold ofr £92k - they average low £80k - they are now for sale with an asking price of £62k but that isn't a drop!!!!

Sorry am I missing something - are we confusing 1 and 2 beds here because if not it looks to me like a drop.

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Guest Bart of Darkness
Sorry am I missing something

Put the words lookingafterthekids and Awooga together and all will become clear.

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Sorry to burst yet another HPC bubble but your wrong :lol:

Firstly, these flats are not in an ok little part of the country, they are in an area called Brierley Hill close to the Merry Hill shopping centre and almost in the heart of the old Blackcountry.

Brierley hill isnt too bad if you like being surrounded by roads and factories and brownfield sites.

And brownfield sites is exactly what these type of development were probably built on.

It is a boxlike, souless estate and the properties have ALWAYS taken a good old while to sell if they sell at all.

How do I know? Becasue I used to try and sell identical flats in 1996 - 1999.

2 beds HAVE NEVER SOLD FOR £99,000 - Doooohhhhhhhhh

Check http://www.nethouseprices.com/index.php?co...mit=0&curPage=1

The highest one off price for a flat was £92,000 which I can almost guarantee was a dodgy deal, the rest average low to mid £80,000's

The really embarrasing thing for you is that you have only posted the negative bits.

Another HPC crash bubble burst

Sorry

I too have local knowledge. The Foxdale Drive estate isn't the most desirable place to live in the UK, but compared with its surroundings, its clean, tidy and the houses are all less than 15 years old. I used to pick someone up to take them to work from that estate many many years ago, and have been inside a typical 2 bed terrace. I've bought computer equipment off someone who lived in one of the 2-bed flats, so I've had a nose around one of those before now as well. Plus points are that its within a stone's throw of Merry Hill shopping cente and yet the main roads out of and running past the estate don't get clogged with traffic like many of the other roads closer to the action.

The point, very clearly, is that someone has just shaved 10K off the asking price of a flat, which makes everything else look very overpriced on that estate. Given that, from the Net House Prices link you so kindly provided, properties seemed to be selling markedly below asking price even in 2004/2005, you can take that 62K and discount it by another 15-20% before you get a figure close to what the vendor will sell for.

I state FACTS again - 1 bedders were high 70's down to 72K now down to 62K. 2 bedders were 99K asking prices (yes, okay, they sold for 92K max) down to 89K down to 80K asking. Who knows what they're really selling for now.

The housing market is entering the "Emperor's new clothes" phase. As people spot the huge discrepancies between salaries and property prices and the state of the economy, the headline rate of inflation and the lack of upward (and rather downward) momentum in prices, the only conclusion to draw is that none of the property out there is worth even half what's been asked for it today.

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I can assure you that these 2 examples are not a reflection of the market in the area. For the record 2 bed flats on Foxdale Drive are likely to come to makret for between 79,950 (lower if in poor condition) and 85,000 depending mainly on the vendors needs and the agents. Some agents will over value property to gain an instruction. A one bed is probably around 70,000. These prices have not gone up in line with the rest of the area, but the defiantely have not dropped in value. There is also no sign of any prices dropping in the Dudley area

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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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