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simon49

Yorkshire Housing Down 2.1% In A Month

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I have just seen a report on the BBC regional news where i live. It said Yorkshire s housing has droped 2.1% in the last month and is the largest fall in the country. This was quite a hard hitting report for them, stating that the average price has dropped more than £4000 in a month. I am wishing to buy here at some point, but not at the prices we have currently. This seems to be a step in the right direction, and far outweighs the loss in income that my savings received today. I check the prices most days on Rightmove and have seen many reductions recently and new listings prices slightly lower than before. It has a long way to go yet for me to buy, but I think the worm has finally turned.

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Im in Yorkshire and at ground level I am seeing it, houses here are sitting for sale for a long time, a 3 bed bungalow in my street sold but it took nearly 2 years and involved dropping from 179k to 159k.

Its happening!

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Im in Yorkshire and at ground level I am seeing it, houses here are sitting for sale for a long time, a 3 bed bungalow in my street sold but it took nearly 2 years and involved dropping from 179k to 159k.

Its happening!

A 3 bed bungalow for £159k! Round my way that buys a 1 bedroom ground floor flat, if you're lucky.

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Im in Yorkshire and at ground level I am seeing it, houses here are sitting for sale for a long time, a 3 bed bungalow in my street sold but it took nearly 2 years and involved dropping from 179k to 159k.

Its happening!

At that price sounds like its already happened - what's the build cost for a 3 bed bungalow,

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I have just seen a report on the BBC regional news where i live. It said Yorkshire s housing has droped 2.1% in the last month and is the largest fall in the country. This was quite a hard hitting report for them, stating that the average price has dropped more than £4000 in a month. I am wishing to buy here at some point, but not at the prices we have currently. This seems to be a step in the right direction, and far outweighs the loss in income that my savings received today. I check the prices most days on Rightmove and have seen many reductions recently and new listings prices slightly lower than before. It has a long way to go yet for me to buy, but I think the worm has finally turned.

In Whitby I'm seeing a very mixed bag. Housing that is attractive to 'white settlers ' as we call incomers, aka damp fishermen's cottages that no locals would want are going up still. Housing that locals would buy are sticking on the market and not really moving. No significant drops, but a lot of small reductions

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The average wage in south yorkshire is low 20s so in local terms they are just as un affordable as anywhere else, however you can buy a house here for the "deposit" on a house in london. They have essentially doubled in price since 2001 and wages haven't changed. It is going the right way though the house i rent was bought at peak for 200k by my landlord and is now valued at 160k! a 40k loss in 8 years property only goes up innit :)

Thing is now though with numbers going down the way would it even be a good idea to buy? maybe push it another couple of years and see where they are at?

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West Yorkshire economy

Consumer finance

Public sector. Some more public sector

Paralegal.

The first two industries have been in recession since 2007

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Sheffield - the nicer districts still seeing 10+ viewings within a week and going 5-10% above asking. Asking prices well up on 1 and 2 years ago.

It's got a little more refined since brexit but sadly it's still blind bids against multiple offers.

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I've also noticed here in Yorkshire that anything old like Georgian or Victorian property, especially if it is listed, seems to be very hard to sell, and in my opinion is better value than a lot of the newbuilds.

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I've also noticed here in Yorkshire that anything old like Georgian or Victorian property, especially if it is listed, seems to be very hard to sell, and in my opinion is better value than a lot of the newbuilds.

There's no help to get into debt on older properties....

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I have just seen a report on the BBC regional news where i live. It said Yorkshire s housing has droped 2.1% in the last month and is the largest fall in the country. This was quite a hard hitting report for them, stating that the average price has dropped more than £4000 in a month. I am wishing to buy here at some point, but not at the prices we have currently. This seems to be a step in the right direction, and far outweighs the loss in income that my savings received today. I check the prices most days on Rightmove and have seen many reductions recently and new listings prices slightly lower than before. It has a long way to go yet for me to buy, but I think the worm has finally turned.

'Yorkshire' is a big place. That's why you will get a variety of responses here. Leeds is not Whitby. York is not Wakefield. Harrogate is not Halifax.

Lots of very different economies and definitely lots of different drops and rises going on.

It's like comparing Kensington and Edmonton. All the same because it's London.

So it depends where you are buying in Yorkshirr as to whether any high level stats are useful.

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There's no help to get into debt on older properties....

I see many older properties that reflect Yorkshire frugality, haven't been updated in perhaps decades. I wonder if the whole asset class of older properties has been tarred with the same prejudice as a result?

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'Yorkshire' is a big place. That's why you will get a variety of responses here. Leeds is not Whitby. York is not Wakefield. Harrogate is not Halifax.

Lots of very different economies and definitely lots of different drops and rises going on.

It's like comparing Kensington and Edmonton. All the same because it's London.

So it depends where you are buying in Yorkshirr as to whether any high level stats are useful.

I always do the same Rightmove search, which is York and surrounding 15 miles.

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A 3 bed bungalow for £159k! Round my way that buys a 1 bedroom ground floor flat, if you're lucky.

Round my way that will buy you a bedroom, if you're lucky.

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In Whitby I'm seeing a very mixed bag. Housing that is attractive to 'white settlers ' as we call incomers, aka damp fishermen's cottages that no locals would want are going up still. Housing that locals would buy are sticking on the market and not really moving. No significant drops, but a lot of small reductions

High oner.

Get yourself up for a walk up to the pub at Ruswarp.

Holiday cottage are wierd.

The chance of getting a mortgage for one is about the same as puling a women in the Jolly Sailor who doesnot have VD and is under 40.

SO what people do is extract money from their main residence and top it up with savings or a personal loan.

'Dont worry. We'll make a fortune letting it out ...'

Give it a sh1t nautical name.

Turn a 3 bedder into a sleeps 50.

Bingo!

What could go wrong?

Stumbled on this.

Way too overpriced.

Esk Terrace.

Nice big houses. But 10 people? Fckoff.

And people have:

http://romanticcottageholidays.co.uk/marina-view-availability-tariff/

I make that 5 weeks for the next 8 months.

Fcked.

And its a long way from a cottage!

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Round my way that will buy you a bedroom, if you're lucky.

So, if so bad what causes you to stay living there being continually ripped off.......some people are glutton for punishment. ;)

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High oner.

Get yourself up for a walk up to the pub at Ruswarp.

Holiday cottage are wierd.

The chance of getting a mortgage for one is about the same as puling a women in the Jolly Sailor who doesnot have VD and is under 40.

SO what people do is extract money from their main residence and top it up with savings or a personal loan.

'Dont worry. We'll make a fortune letting it out ...'

Give it a sh1t nautical name.

Turn a 3 bedder into a sleeps 50.

Bingo!

What could go wrong?

Stumbled on this.

Way too overpriced.

Esk Terrace.

Nice big houses. But 10 people? Fckoff.

And people have:

http://romanticcottageholidays.co.uk/marina-view-availability-tariff/

I make that 5 weeks for the next 8 months.

Fcked.

And its a long way from a cottage!

Hi Spy,

Thanks for the link. Doesn't look, from the bookings, that they are not making a successful go of this. Visitor numbers seem weird this year though and some days the town is heaving, others not. Not too busy today (for an August Saturday) but guess they might all be looking at the traction engines. I do wonder whether the holiday property bubble is sustainable but fed up with meeting people in the town pubs who have bought a holiday home. Seems to be enough for who money seems to be no problem.

Btw, never been in the bridge, but the jolly sailors was one of my locals years ago. Don't think I've been in for 20 years

Ed for clarity

Edited by One-percent

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Hi Spy,

Thanks for the link. Doesn't look, from the bookings, that they are not making a successful go of this. Visitor numbers seem weird this year though and some days the town is heaving, others not. Not too busy today (for an August Saturday) but guess they might all be looking at the traction engines. I do wonder whether the holiday property bubble is sustainable but fed up with meeting people in the town pubs who have bought a holiday home. Seems to be enough for who money seems to be no problem.

Btw, never been in the bridge, but the jolly sailors was one of my locals years ago. Don't think I've been in for 20 years

Ed for clarity

Wrell thats it.

If you said to a holiday let owner - lets start a business doing XYZ,, then theyd say I dont know what Im doing.

But letting a house in Whitby - Nah, genius. Steve Jobs.

So they overpay, spend too much doing it up - people go to whitby to go out, not stay in!

Overcharge to try and make the finances work, resulting in under letting.

Vicious circle.

The visitors are dictated by the mornings weather forecast.

70% are from great boro.

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These have just come on the market, looks like someone is trying to offload holiday cottages.

http://www.rightmove.co.uk/property-for-sale/find.html?locationIdentifier=REGION%5E7512&numberOfPropertiesPerPage=24&radius=0.0&sortType=2&index=0&maxDaysSinceAdded=3&includeSSTC=true&viewType=LIST&currencyCode=GBP

Look at the terms, weird. Why would anyone give money to get entangled into that

"Price A: £275,000 with a guaranteed 6% annual return = £16,500 on investment plus capital growth, no maintenance charges and a 125 year lease.

Price B: £275,000 plus £10,000 per annum maintenance and facility costs with a 125 year lease."

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These have just come on the market, looks like someone is trying to offload holiday cottages.

http://www.rightmove.co.uk/property-for-sale/find.html?locationIdentifier=REGION^7512&numberOfPropertiesPerPage=24&radius=0.0&sortType=2&index=0&maxDaysSinceAdded=3&includeSSTC=true&viewType=LIST&currencyCode=GBP

Look at the terms, weird. Why would anyone give money to get entangled into that

"Price A: £275,000 with a guaranteed 6% annual return = £16,500 on investment plus capital growth, no maintenance charges and a 125 year lease.

Price B: £275,000 plus £10,000 per annum maintenance and facility costs with a 125 year lease."

Very wierd.

Pickering near nowhere, other thanMalton.

17 cottages to choose from. Thats goung to be packed. Looks like a farmyard conversion.T heres no such thing as s guaranteed return. Rsithewsite Hall owners got 2 8% payouts before it went bust. Im very surprised the FSAis allowing this ad.

Here you go

http://www.beckhousecottages.co.uk/#

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Very wierd.

Pickering near nowhere, other thanMalton.

17 cottages to choose from. Thats goung to be packed. Looks like a farmyard conversion.T heres no such thing as s guaranteed return. Rsithewsite Hall owners got 2 8% payouts before it went bust. Im very surprised the FSAis allowing this ad.

Here you gohttp://www.beckhousecottages.co.uk/#

Ah yes, what about raithwaite? Guess we should really take this to another thread, but it is about Yorkshire property. Did the investors there lose everything?

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