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spyguy

Some of the megabucks mansions and manors in the North East still waiting to be snapped up

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And the market is where most will remain.

http://www.chroniclelive.co.uk/news/property-news/megabucks-mansions-manors-north-east-12046568

' The property has been on the market since early 2015. '

In the North, you need to be a lottery winner to buy most houses over 500k.

And you'll need a lottery winners luck to sell one over 500k too.

 

You can see how liquid property is in that area:

https://houseprices.io/?q=NE46+4DU

13 sales in 21 years

Maximum price paid 400k.

 

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Further south its the same there are a lot of rural houses where the land seems to have been sold leaving a very large house without enough land to give you the inheritance tax benefits that made buying the house worthwhile.

That being said the weird bit locally is that the only houses that seem to be Sale Agreed or either the very bottom (less than £120) or top of the market (over £400). Mind you the bit in between is full of utter dross.

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"waiting to be snapped up" lol

 

There is another way the gazette cold look at this!!

 

Definitely in the NE these gaffs are for lottery winners as footballers only.  With those sort of prices I would have thought well out of the reach of successful entrepreneurs, plus not many mega rich foreign buyers to help out.

 

Also as stated even if you could afford one, unless you wanted to stay there for 30 or 40 years, you would have to think about the market if you came to sell on.

 

All in all extremely overpriced!

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1 hour ago, reddog said:

"waiting to be snapped up" lol

 

There is another way the gazette cold look at this!!

 

Definitely in the NE these gaffs are for lottery winners as footballers only.  With those sort of prices I would have thought well out of the reach of successful entrepreneurs, plus not many mega rich foreign buyers to help out.

 

Also as stated even if you could afford one, unless you wanted to stay there for 30 or 40 years, you would have to think about the market if you came to sell on.

 

All in all extremely overpriced!

When boro bounced out of the Premiership there were quite a few places in Yarm up for sale.

Hit to NE EAs - wait for the local team to go into Europe before trying to shift anything more than 2M.

 

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Nobody (with any sense) would buy a chain around their necks if they don't have to....life is too short. Who would want to buy such a huge cost and liability if no growth, to do so they would have to be very wealthy ongoing and think they will impressing others for some reason.:wacko:

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