Spoke to boss man of one of the big property websites - big issue driving up prices is low supply due to COVID

[Si1]

6 minutes ago, sammersmith said:

Ancoats?

Incidentally, Manchester has only had 'zones' for about a year and you are the first person i've ever heard refer to them in any context other than for tram ticket pricing.

Wondering if he's from londinium

[GenZ]

Is'nt zone 1 in london from the tube zoning.  I guess i've been looking at manchester peoperty too long 😃I do  think the marketing in the new Manchester flats is aim at the international crowd and using London terminology.  It use to be called city centre which is'nt clear.

It's in the Deans gate area 

 

 

 

[househunter123]

3 hours ago, TheCountOfNowhere said:

Look at the propery lion posts for today....volumes have done through the floor except london.

Prices not really going up anywhere.

 

I wish, Count. Houses selling for 180 going for over the 195-200k mark now.

 Been closely observing the Leicestershire market aiming to buy since pre lockdown 1.

Edited March 5, 2021 by househunter123

[sammersmith]

Just now, GenZ said:

Is'nt zone 1 in london from the tube zoning.  I guess i've been looking at manchester peoperty too long 😃I do  think the marketing in the new Manchester flats is aim at the international crowd and using London terminology.  It use to be called city centre which is'nt clear.

I always thought Burnham (GM mayor) introduced zones to give Manc a London feel. Londoners understand zones and talk about them often in relation to property. HKers priced out of London will think that the universal truth is 'Zone 1 = good' so will pay a premium.  

However, it's slightly different in Manchester. Most people in Manc, even young single people, want to live in Didsbury. Londoners moving up do rent in the city centre at first often because it's a novelty being able to afford it! If they stay any length of time though they'll usually move somewhere south of the city centre.

2 minutes ago, GenZ said:

It's in the Deans gate area 

Exactly where i used to live when i first came here. Near the MoSI. If you have to live in central Manc then this is probably one of the better places. 

[TheCountOfNowhere]

16 minutes ago, househunter123 said:

I wish, Count. Houses selling for 180 going for over the 195-200k mark now.

 Been closely observing the Leicestershire market aiming to buy since pre lockdown 1.

East mids up a bit

West Mids, flat for a year+ 

Prices on RM are beyond a joke, the ones I see are anyway so I am surprised that it's not higher but it is what it is, believe it or not.

It's going to be a long hard slog down for asking prices now.

[MancTom]

1 hour ago, Staffsknot said:

In crazy world a friend has just had their 2 up 2 down terraced ( sorry mews) house valued by an agent - £165k... they paid £80k start of 2015. WTF and they thought so too. It is on a main road, a concrete back yard no greenspace and no off street parking in one of the towns that make Stoke-on-Trent.

Their late mum's bungalow with garage was valued at less barely 18 months ago and sold just before lockdown 1.

my house has increased by 60k since I bought it in 2015. 40k of that was in last year. Asking prices going up and 90% of houses still going STC within 2 weeks. Have been told by a few its Londoners who want to move somewhere cheaper to WFH with the result that prices are becoming unaffordable for people who actually do work in these areas.

[BufferBear Bitcoin Bull]

6 hours ago, sammersmith said:

I always thought Burnham (GM mayor) introduced zones to give Manc a London feel. Londoners understand zones and talk about them often in relation to property. HKers priced out of London will think that the universal truth is 'Zone 1 = good' so will pay a premium.  

 

It might be a 'new' Londoner type thing.  Zones are used as a snobbery tool.  I am a Londoner and do not describe areas in this way at all - the old guard tend to know premium areas based on geographic location.  I'm only interested in zones when travelling on PT, v rarely, as there is an associated cost.

 

Could also be younger Londoners as their folks use different terminology than I use for local areas, which I take great pleasure in correcting.  I don't like the game.  Some of them even have the audacity to refer to my home area by the completely wrong area which shows their ignorance as they are actually referring to a different borough a mile or so up the road.  Upmarket trendy shops are also guilty of this and I am known when at dinner/shopping to point out their incrorrect address be it on the menu, shopfront or website.  Really irritates me! No better than fake news/history.

 

I am a fan of the original "Horrible Histories"  

Edited March 5, 2021 by Buffer Bear
Added a paragraph!

[Staffsknot]

6 hours ago, MancTom said:

my house has increased by 60k since I bought it in 2015. 40k of that was in last year. Asking prices going up and 90% of houses still going STC within 2 weeks. Have been told by a few its Londoners who want to move somewhere cheaper to WFH with the result that prices are becoming unaffordable for people who actually do work in these areas.

Stoke is nearly 2hrs from London + 40 min drive to train station from there so I doubt its that.

I think it is a valuer needing a realityslap

[Si1]

7 hours ago, Staffsknot said:

Stoke is nearly 2hrs from London + 40 min drive to train station from there so I doubt its that.

I think it is a valuer needing a realityslap

Stoke! Haha!

[Saving For a Space Ship]

wrong thread 

Edited March 6, 2021 by Saving For a Space Ship

[Staffsknot]

4 hours ago, Si1 said:

Stoke! Haha!

You know there are actually parts around Stoke that are wonderful green and The Roaches are just a few mins away. All that stuff Londoners go wild and pay a fortune to be near a small park of.

This house is closer to the old mining areas and industrial bit. But Staffs folk love seeing the jaws drop on Londoners who think Brighton is Las Vegas when see Staffs & Cheshire. They only ever see industrial bits like Stoke & Crewe centre from football.

[Si1]

10 minutes ago, Staffsknot said:

You know there are actually parts around Stoke that are wonderful green and The Roaches are just a few mins away. All that stuff Londoners go wild and pay a fortune to be near a small park of.

This house is closer to the old mining areas and industrial bit. But Staffs folk love seeing the jaws drop on Londoners who think Brighton is Las Vegas when see Staffs & Cheshire. They only ever see industrial bits like Stoke & Crewe centre from football.

No worries. I'm from Liverpool and I live in Leeds. I agree with you. But yeah lots of kite flying valuations round me too.

[Bugger BTL]

21 hours ago, GenZ said:

I just bought in Manchester zone 1 and got a 26% discount

 

A city centre type flat, I'm guessing? If so, not at all shocked the **** is falling out of those. 

Re pent up demand, there's certainly a cohort of the population who are sufficiently shit scared of covid that they won't have been up for choosing to have anyone in their home or being in anyone else's since all this kicked in. We know that. So the issue is going to be whether this attitude going away, if it does (and I'm not sure they're all going back to normal that easily) is going to have a significant impact or not.

[Mikhail Liebenstein]

On 05/03/2021 at 11:21, PeanutButter said:

This does explain the massive leaps near my area. If you want to live in some parts, you have to buy whatever house comes up next, no matter the cost. 

That is big issue in the Surrey Villages. 

Still loads of old people rattling around in houses they can't afford the upkeep on. When they do come up the agents announce "on the market for the first time in 40 years" or whatever.  That means run down, but might have potential if you have a decent decoration fund.

[Staffsknot]

5 hours ago, Si1 said:

No worries. I'm from Liverpool and I live in Leeds. I agree with you. But yeah lots of kite flying valuations round me too.

Yeah wasn't kicking off - justcreases me up that Londoners see a sparrow by the Serpentine and think its The Serengeti. I take a photo of a kingfisher and they think its impossible I haven't had to drive to see it.

[Bugger BTL]

52 minutes ago, Staffsknot said:

Yeah wasn't kicking off - justcreases me up that Londoners see a sparrow by the Serpentine and think its The Serengeti. I take a photo of a kingfisher and they think its impossible I haven't had to drive to see it.

They do amuse me when they fail to realise how much countryside is easily available to so much of the population outside the M25.

[Si1]

6 minutes ago, Bugger BTL said:

They do amuse me when they fail to realise how much countryside is easily available to so much of the population outside the M25.

+1

You hear comments about relocating to Australia to get closer to the outdoors. 

[spacedin]

On 05/03/2021 at 15:24, GenZ said:

Is'nt zone 1 in london from the tube zoning.  I guess i've been looking at manchester peoperty too long 😃I do  think the marketing in the new Manchester flats is aim at the international crowd and using London terminology.  It use to be called city centre which is'nt clear.

It's in the Deans gate area 

 

 

 

Reminds me of the scandalous marketing councils do at property tradeshows. MIPIM is the one that springs to mind.

Many would rather have wealthy international investors snap up these properties to rent on, than local people buy them as homes. 

Edited March 6, 2021 by spacedin

[MARTINX9]

1 hour ago, spacedin said:

Reminds me of the scandalous marketing councils do at property tradeshows. MIPIM is the one that springs to mind.

Many would rather have wealthy international investors snap up these properties to rent on, than local people buy them as homes. 

International investors pay council tax - but use no local services as they don't live there. Perfect - all the income but none of the costs.

Edited March 6, 2021 by MARTINX9

[PeanutButter]

4 hours ago, Mikhail Liebenstein said:

That is big issue in the Surrey Villages. 

Still loads of old people rattling around in houses they can't afford the upkeep on. When they do come up the agents announce "on the market for the first time in 40 years" or whatever.  That means run down, but might have potential if you have a decent decoration fund.

What Surrey Villages? I'm familiar with Cobham, but that seems more like a town.

[smash]

6 hours ago, Staffsknot said:

Yeah wasn't kicking off - justcreases me up that Londoners see a sparrow by the Serpentine and think its The Serengeti. I take a photo of a kingfisher and they think its impossible I haven't had to drive to see it.

You can access some decent countryside from London quite easily, just got to make the effort and most Londoners don't bother with effort. One of my favourite cycle rides for example is out through Richmond/Kingston and then a big length of the Surrey hills ending at Boxhill, faster route back. Used to use a very nice little campsite in the Chilterns and that area has endless Red Kite's circling above and great walks, a 40 minute drive on the A40. Occasionally you can get great and unexpected nature spots in London, a Seal on a Thames slipway at Hammersmith has been a fave of mine.

Edited March 6, 2021 by smash

[morty]

2 hours ago, smash said:

You can access some decent countryside from London quite easily, just got to make the effort and most Londoners don't bother with effort. One of my favourite cycle rides for example is out through Richmond/Kingston and then a big length of the Surrey hills ending at Boxhill, faster route back. Used to use a very nice little campsite in the Chilterns and that area has endless Red Kite's circling above and great walks, a 40 minute drive on the A40. Occasionally you can get great and unexpected nature spots in London, a Seal on a Thames slipway at Hammersmith has been a fave of mine.

But the prices are on the moon.  Luckily there’s affordable places north off the grand union canal with Oyster card accepted transport links but currently no supply.

[Hullabaloo82]

OK, so there's pent up supply but, logically, doesn't the same apply to demand? Headline housebreaking figures that get breathlessly quoted by industry shills are largely based on notionsl asking prices that are designed to be a unpalatable ask yo ensure a negotiation ends up closer to what the vendor will really sell for. Given the market has basically ground to a halt I don't believe there's any way of knowing what the real market is like.

Strikes me the market right now is people who have to sell for some reason dealing with people who think they're getting a good deal due to the stamp duty holiday. I think most "regular" people are just battoning down the hatches until things get back to normal and will accept stamp duty if they have to because, as we all know  "you can't lose on bricks and mortar."

Furlough, payment holidays cladding issues, HK investors etc;  how much demand or supply are these holding back? With a reported 50% of firms looking to hire this year and the vaccination program going better than expected, I wouldn't bet against a real terms bounce in the coming year to be honest.  

We know sentiment is a huge factor; if bojo can somehow come put smelling of roses it might be a longer term bounce. Better hope England doesn't get to host the euros......

[Staffsknot]

12 hours ago, smash said:

You can access some decent countryside from London quite easily, just got to make the effort and most Londoners don't bother with effort. One of my favourite cycle rides for example is out through Richmond/Kingston and then a big length of the Surrey hills ending at Boxhill, faster route back. Used to use a very nice little campsite in the Chilterns and that area has endless Red Kite's circling above and great walks, a 40 minute drive on the A40. Occasionally you can get great and unexpected nature spots in London, a Seal on a Thames slipway at Hammersmith has been a fave of mine.

My point is how much effort it requires. Mine is out the front door, turn left and I can see as much wildlife as I want. Want the cinema - car 15-20 min pick of 3.

One of the things a lot of colleagues in London go on about is the amenities, when asked about those things you find they mainly do West End shows or eat out only when guests down. So its all a bit crazy - move for that but too busy to do that, bit like I've never been to the pottery museums but people visiting wang on about the Pottery Throwdown and wanting to go.

[Si1]

16 minutes ago, Staffsknot said:

My point is how much effort it requires. Mine is out the front door, turn left and I can see as much wildlife as I want. Want the cinema - car 15-20 min pick of 3.

One of the things a lot of colleagues in London go on about is the amenities, when asked about those things you find they mainly do West End shows or eat out only when guests down. So its all a bit crazy - move for that but too busy to do that, bit like I've never been to the pottery museums but people visiting wang on about the Pottery Throwdown and wanting to go.

I love the assumption that other cities don't have culture.