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One To Watch In Sheffield

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Nearly one year since this scheme was launched. So far, only 13 out of 29 sold (+ 3 reserved ......)

One (in the row alongside ecclesall road south) is for rent at £995 pcm. Assuming it was bought for £350K (what with all the incentives offered ........), this gives a gross yield of 3.41% !!! I think I'll keep my money with ING :lol:

http://www.shepherd-homes.co.uk/index.cfm?...d=26&useFlash=0

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Guest Bart of Darkness

I always get a bit worried when the photographer doing the interiors chooses to close in on small details.

Either he's forgotten his wide angle lens or can't afford one wide enough to photograph such tiny rooms.

image04.jpg

image02.jpg

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Who the hell can affor to pay a grand a month in Sheffield anyway???

It's officially one of the most deprived areas in the UK and salaries rarely top £20k...a friend of mine with a PhD is on £25k!! Council tax for a band A property is £886...tax on these flats must me in excess of £1200.

Problem is, SY is heavily supported by the government; 9 out of 10 jobs are public sector and once GB begins to tighten the purse strings, there will be a lot of hardship.

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Guest Bart of Darkness
Who the hell can affor to pay a grand a month in Sheffield anyway???

I used to wonder something similar myself. Either Sheffielders are a lot richer than we both thought or they're prepared to borrow like there's no tomorrow.

If public sector jobs are so crucial to the local economy, any downturn in the national economy is going to clobber us.

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Who the hell can affor to pay a grand a month in Sheffield anyway???

Well theres the old thing about Hallam having the highest disposable income.

Im suspicious of this being ******** till you have a think about it.

Most doctors and lawyers live in S10 and S11.

Apart from a few students in S10 and a few football players and porn barons in S11 :)

If you ignore these 2 postcodes there arent many aspirational yuppie bits of Sheffield for suits to live in.

Most doctors and lawyers earn approx 100k.

There is never going to be much new build as these areas are hemmed in by a national park.

Thus there is always demand for "executive houses" <puke>

And meeting a 300k mortgage is easy for some.

Next??

I_Hate

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Spoke to the surveyor who has done the house I'm buying. He's very busy at the moment: "houses like this have really perked up since Christmas".

Take this whatever way you want to...

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http://www.shepherd-homes.co.uk/index.cfm?...d=26&useFlash=0

No signs of the Spring bounce for this lot. Still only 13 out of 29 sold. Assuming the actual average selling price (after cashback etc...) was £320K, this gives a gross total of £4.16 mio. Even if these horrors cost only half that to build, we're probably talking about £5 mio + with the purchase cost of the land. So about £900K 'negative earning' so far, after more than one year since the launch of the scheme. I wonder how long they can keep going .......

Shepherd Homes is a ltd co. with a struggling industrial building division (wonder why ....). I, like a lot of people on HPC, am becoming convinced that the trigger will be small-scale, financially stretched developers being forced into starting distress sales (I think Dresdner Bank published a paper on this very topic a few months ago). One of the golden rules in economic is that prices are always set at the margin, ie by the small percentage of people who simply MUST sell.

Mind you, you do get a nice cooker for your 300 grand :lol:

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Blenheim Mews, 9 sold most at under £300K (from £384k advertised), last one sold in december.

http://www.houseprices.co.uk/e.php?q=S11+9PR

Thanks for that MEtallic.

We're talking 15% discount here, and this does not include all the other 'incentives' which are not reflected in the Land Registry selling price.

What about no.21 .... £51K loss in 4 months. Personally, I would describe this as a CRASH !!!!

And don't forget, Blenheim Mews, which consists of 4/5 bedroom houses (therefore not your typical BTL choice), is located in Sheffield most desirable area (Hallamshire) and in the catchment area of one of the top state secondary schools (Silverdale) - two factors that should guarantee ever-rising prices.

I am convinced that this is exactly the type of development that will act as psychological trigger for the great HPC. With the above information spreading, won't be easy for Shepherd Homes to shift the remaining houses (nearly 60% I reckon) ...... especially with IR on the up.

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Well, it looks like it is now officially 'over 50% sold' after 15 months (15 listed on www.houseprices.co.uk out of the 29 built).

So still nearly 50% unsold despite increasingly desperate offers. Latest (large ad in the Sheffield Telegraph main section - not the property one) is offering to pay half the mortgage of the lucky buyer for 24 months (capped at £100K) PLUS a brand new Mini Cooper S (they were offering a Smart a few months ago ...). Must be worth about 25 grand in total I reckon - ie. about 7% of the grossly inflated asking price when anyone with a 3-figure IQ can see that recent selling prices have been at least 15% off list price (and that's the gross figure before you deduct all the usual financial incentives).

Maybe they'll offer a Merc or Beemer next month when the IR has gone up to 5% :D:D

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Well, it looks like it is now officially 'over 50% sold' after 15 months (15 listed on www.houseprices.co.uk out of the 29 built).

So still nearly 50% unsold despite increasingly desperate offers. Latest (large ad in the Sheffield Telegraph main section - not the property one) is offering to pay half the mortgage of the lucky buyer for 24 months (capped at £100K) PLUS a brand new Mini Cooper S (they were offering a Smart a few months ago ...). Must be worth about 25 grand in total I reckon - ie. about 7% of the grossly inflated asking price when anyone with a 3-figure IQ can see that recent selling prices have been at least 15% off list price (and that's the gross figure before you deduct all the usual financial incentives).

Maybe they'll offer a Merc or Beemer next month when the IR has gone up to 5% :D:D

Good to see other Sheffield people on the forums!

Sheffield is buggered. If you want to see how buggered take a look down Cemetry Road next to Waitrose.

Yes those lovely new build flats next to the horrble council ones! BTLers are asking 800 a month for them. (I think I coin the term 'insta-rape' or should that be insta-reposession)

I moved down due to work and am currently living in 'Morton Works'. Over the last 6 months the only people who've moved in are DSS chavs or rich students. Nuff said.

And just to add insult to injury, lots more in the pipeline. Welcome to the bloodbath, I've moving out to Oughtibridge. 120K Flat £450 a month. Much better...

(sorry for the rather disjointed answer, but wine was involved!)

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Most doctors and lawyers live in S10 and S11.

Most doctors and lawyers earn approx 100k.

Most lawyers don't earn £100K in the City of London, let alone Sheffield - average lawyer wages are under £35K, yes some partners at large firms and those who run a tight ship make this, but by far the greatest majoirty don't.

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And just to add insult to injury, lots more in the pipeline. Welcome to the bloodbath, I've moving out to Oughtibridge. 120K Flat £450 a month. Much better...

Hi fellow Sheffielder,

£450 pcm for a £120K flat, that's a gross yield of 4.5% ...... Just as well for your landlord that prices are 'officially' booming :lol:

Re. the 'luxury executive apartments' overlooking Waitrose petrol station, you're spot on - who the feck will want to pay £800 pcm for the priviledge of living in a glass house right opposite a grim rough-looking council estate. I pay £725 for a detached 3-bedroom house with a great private garden, half a mile away in posh Hallamshire. Like Leeds and Manchester, Sheffield 'executive urban living' will prove to be a costly marketing con for a lot of gullible BTL'ers.

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Most lawyers don't earn £100K in the City of London, let alone Sheffield - average lawyer wages are under £35K, yes some partners at large firms and those who run a tight ship make this, but by far the greatest majoirty don't.

Average (median) GP salary is over GBP 100k.

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Practice partners might earn 100k+ but most newly qualified GPs I know have started on around £ 55-60k (depending on the area)..moreover, many Gps are now finding it diffuclt to find work as existing practices are reluctant to hire them, choosing the cheaper option of 'specialist nurse practicioners' instead..Things are not all rosy in GPland...

Edited by kris_77

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Practice partners might earn 100k+ but most newly qualified GPs I know have started on around £ 55-60k (depending on the area)..moreover, many Gps are now finding it diffuclt to find work as existing practices are reluctant to hire them, choosing the cheaper option of 'specialist nurse practicioners' instead..Things are not all rosy in GPland...

Median salary is median salary... oddly, newly qualified GPs tend to earn somewhat less than median.

There's lot's of GP jobs, but they're in crap places which was one key reason why the govt has swamped the med schools and opening new ones.

I speak as one newly in the system (as perhaps do you).

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Median salary is median salary... oddly, newly qualified GPs tend to earn somewhat less than median.

There's lot's of GP jobs, but they're in crap places which was one key reason why the govt has swamped the med schools and opening new ones.

I speak as one newly in the system (as perhaps do you).

Having recenty worked on the QMAS (you'll know it!) project.... I'm supprised you actually get payed.

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Median salary is median salary... oddly, newly qualified GPs tend to earn somewhat less than median.

There's lot's of GP jobs, but they're in crap places which was one key reason why the govt has swamped the med schools and opening new ones.

I speak as one newly in the system (as perhaps do you).

Thankfully I speak as someone who was clever enough to avoid the GPVTS frenzy of recent years. Recent changes implemented to the GP training scheme are prime examples of the labour govt's lack of forethought and reckless squandering of public funds. You may be right in saying that there is a need for GPs in the more deprived parts of the country but in most cases the PCTs do not have the funds to employ them.Also the much anticipated 'mass retirement' of GPs in 2005-2006 just did not materialise as many of the them chose to hang on to their jobs due to the massive hike in pay the govt offered them.Overinflated GP salaries account for more than 50% (300 mn) of the NHS deficit for 2005-2006 and the govt is bound to put a squeeze on future GP recruitment. It is highly likely that many of the new GP trainees would find it very hard to find stable employment upon qualification (infact, its already happening in the more 'desirable' parts of the country) In case you are someone new in the system, I would strongly recommend a quick career change (unless you are prepared to move to some place like...Wick, perhaps)

Edited by kris_77

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Thankfully I speak as someone who was clever enough to avoid the GPVTS frenzy of recent years. Recent changes implemented to the GP training scheme are prime examples of the labour govt's lack of forethought and reckless squandering of public funds. You may be right in saying that there is a need for GPs in the more deprived parts of the country but in most cases the PCTs do not have the funds to employ them.Also the much anticipated 'mass retirement' of GPs in 2005-2006 just did not materialise as many of the them chose to hang on to their jobs due to the massive hike in pay the govt offered them.Overinflated GP salaries account for more than 50% (300 mn) of the NHS deficit for 2005-2006 and the govt is bound to put a squeeze on future GP recruitment. It is highly likely that many of the new GP trainees would find it very hard to find stable employment upon qualification (infact, its already happening in the more 'desirable' parts of the country) In case you are someone new in the system, I would strongly recommend a quick career change (unless you are prepared to move to some place like...Wick, perhaps)

Mrs Ritchie is at the DoH... it is indeed a bataille de merde. Fortunately for Lionel, this is something of a hobby job and, for good measure, I'm buggered if I'll keep on in this country.

One thing to add: over 2/3 of medical students are women and of them 80% are pretty sure they'll be working part time. This will affect GP supply significantly.

However, back to the point of the topic: there is currently plenty of GPs on what cannot be argued are hugely inflated wages who can afford to pay Sheffield prices.

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One thing to add: over 2/3 of medical students are women and of them 80% are pretty

Not in my experience

<joke>

Seriously you guys seem to be in the know as regards docs up here

Most qualified docs are on in excess of 100k and all want to live in the same small area of town as the lawyers and the porn barons thus ramping prices there but not the rest of town which is as one would expect

I_Hate

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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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