Jump to content
House Price Crash Forum
Sign in to follow this  
taxmyrs

Prices Will Not Go Up Any Further In N & Ne Mcr

Recommended Posts

Right that's it. After several weeks of dithering I now know for certain the crash (not sure how big) is underway in North and North East Manchester - the area I'm interested in. I haven't got complicated statistics, fancy charts or a masters degree in finance, but I don't need them. All the signs are there. A glut of overpriced properties that are not selling (even when reduced); loads of adverts in the local papers for "stop repossesion now", bridging loans, debt remortages and repo auctions. The end of the beginning or the beginning of the end (who said that) is finally here.

I'll leave all the economics (IR's, inflation etc.) to the experts and rely on my eyes; there was a limp wristed 'dead cat bounce' for a couple of weeks after Christmas, but that's gone; there may be another, but I'm not worried - it's just a matter of time. Thanks god I STR'd late last year. Now I can sit back, watch the interest grow knowing the long warm summer night's will soon be upon us. Let the havoc begin...

Anyone for a Castella?

Share this post


Link to post
Share on other sites

Right that's it. After several weeks of dithering I now know for certain the crash (not sure how big) is underway in North and North East Manchester - the area I'm interested in. I haven't got complicated statistics, fancy charts or a masters degree in finance, but I don't need them. All the signs are there. A glut of overpriced properties that are not selling (even when reduced); loads of adverts in the local papers for "stop repossesion now", bridging loans, debt remortages and repo auctions. The end of the beginning or the beginning of the end (who said that) is finally here.

I'll leave all the economics (IR's, inflation etc.) to the experts and rely on my eyes; there was a limp wristed 'dead cat bounce' for a couple of weeks after Christmas, but that's gone; there may be another, but I'm not worried - it's just a matter of time. Thanks god I STR'd late last year. Now I can sit back, watch the interest grow knowing the long warm summer night's will soon be upon us. Let the havoc begin...

Anyone for a Castella?

Well done, you've got the right idea.

There'll be many dead cat bounces over the next few years, so don't wobble or panic. The crash has started and we're in a recession.

Share this post


Link to post
Share on other sites

Right that's it. After several weeks of dithering I now know for certain the crash (not sure how big) is underway in North and North East Manchester - the area I'm interested in. I haven't got complicated statistics, fancy charts or a masters degree in finance, but I don't need them. All the signs are there. A glut of overpriced properties that are not selling (even when reduced); loads of adverts in the local papers for "stop repossesion now", bridging loans, debt remortages and repo auctions. The end of the beginning or the beginning of the end (who said that) is finally here.

I'll leave all the economics (IR's, inflation etc.) to the experts and rely on my eyes; there was a limp wristed 'dead cat bounce' for a couple of weeks after Christmas, but that's gone; there may be another, but I'm not worried - it's just a matter of time. Thanks god I STR'd late last year. Now I can sit back, watch the interest grow knowing the long warm summer night's will soon be upon us. Let the havoc begin...

Anyone for a Castella?

please tell us you're still plastering the for sale boards in your area ?

Share this post


Link to post
Share on other sites

please tell us you're still plastering the for sale boards in your area ?

He ho he. :D No need; they're doing it all by themselves.

I'll hold you to the Castella in summer 2008/9 when we all bag a load of cheap houses and let them to the greedy who are letting them to us now. hahahahhahahahahahahahahah

hahahahhahahahahahahahahahhahahahhahahahahahahahahahhahahahhahahahahahahahahahhahahahhahahahahahahahahahhahahahhahahahahahahahahah LOLhahahahhahahahahahahahahahhohihohiho! You're on.

Edited by taxmyrs

Share this post


Link to post
Share on other sites

:)

Right that's it. After several weeks of dithering I now know for certain the crash (not sure how big) is underway in North and North East Manchester - the area I'm interested in. I haven't got complicated statistics, fancy charts or a masters degree in finance, but I don't need them. All the signs are there. A glut of overpriced properties that are not selling (even when reduced); loads of adverts in the local papers for "stop repossesion now", bridging loans, debt remortages and repo auctions. The end of the beginning or the beginning of the end (who said that) is finally here.

I'll leave all the economics (IR's, inflation etc.) to the experts and rely on my eyes; there was a limp wristed 'dead cat bounce' for a couple of weeks after Christmas, but that's gone; there may be another, but I'm not worried - it's just a matter of time. Thanks god I STR'd late last year. Now I can sit back, watch the interest grow knowing the long warm summer night's will soon be upon us. Let the havoc begin...

Anyone for a Castella?

i am in a similar position to you. little bit further north.i sold just over a year ago though !

even to this day not one has gone for a better price than the one i got for mine

i have saved another 14k since then

ive visited this forum everyday since on a daily basis

just lately with talk of( the last bear turning bull) this could be happening to me!

but i tell you if prices do go up anymore (and thats a big if) i still wont buy a house

i will just keep saving till i can buy what i want without a mortgage

f@@@k em all!

oh and i might not visit this god damn site so often :)

Share this post


Link to post
Share on other sites

I wish I could be as optimistic as you guys, but then I'm a bear and a therefore a pessimist by nature.

I'd say Manchester is in for the mother of all crashes. It'll wipe more that 50% off prices and the whole city will be bankrupt for years and social decline off a type not seen for many years will set in. Prices are so far away from fundamentals there.

The only thing you'll see smoking is a gun, not a castella.

Share this post


Link to post
Share on other sites

I wish I could be as optimistic as you guys, but then I'm a bear and a therefore a pessimist by nature.

I'd say Manchester is in for the mother of all crashes. It'll wipe more that 50% off prices and the whole city will be bankrupt for years and social decline off a type not seen for many years will set in. Prices are so far away from fundamentals there.

The only thing you'll see smoking is a gun, not a castella.

karhu its not im optomistic or am i?

i was a bear now im a bull ?

one things for sure im not buying yet not with the banks money anyway

i will just save more and plod along

edit/ im still a bear!

Edited by halebop

Share this post


Link to post
Share on other sites

Right that's it. After several weeks of dithering I now know for certain the crash (not sure how big) is underway in North and North East Manchester - the area I'm interested in. I haven't got complicated statistics, fancy charts or a masters degree in finance, but I don't need them. All the signs are there. A glut of overpriced properties that are not selling (even when reduced); loads of adverts in the local papers for "stop repossesion now", bridging loans, debt remortages and repo auctions. The end of the beginning or the beginning of the end (who said that) is finally here.

I'll leave all the economics (IR's, inflation etc.) to the experts and rely on my eyes; there was a limp wristed 'dead cat bounce' for a couple of weeks after Christmas, but that's gone; there may be another, but I'm not worried - it's just a matter of time. Thanks god I STR'd late last year. Now I can sit back, watch the interest grow knowing the long warm summer night's will soon be upon us. Let the havoc begin...

Anyone for a Castella?

Same happening in South Manchester.

But, be aware, its been like this for over a year now down here.

Nonetheless, I agree its just a matter of time.

Share this post


Link to post
Share on other sites

Do you really think so? Maybe looking to buy in South Manchester in a couple of years. Don't see any falls myself at the moment.

This is the Sale/Altrincham/Timperley area. M33/WA14/WA15

"Come on down" - I'll show you 2 houses on the market for nearly 2 years.

On my road (32 houses in total) there are 5 for sale and 2 for rent.

What all the surveys fail to show is the number of houses not sellling.

Also increased numbers of "For Sale or To Let" signs.

On top of that there is a vast quantity of three/four bed semis in the area.

Plenty to choose from. So there should be no pressure to buy.

I'm in no rush.

Share this post


Link to post
Share on other sites

The end of the beginning or the beginning of the end (who said that) is finally here.

Churchill I think, possibly after the Normandy landings

Share this post


Link to post
Share on other sites

Churchill I think, possibly after the Normandy landings

He may have done originally, but I heard it the other day. I think it might have been the defence sec. when he was being interviewed on radio4 about the pullin gout of 800 troops from Iraq. Yes it was.

Anyway back to the crash in Manchester.

The incessant morning dew teases, the afternoon sun tantalizes - until the flower can resist no longer unfurling into a magnificently fragranced rose. ;)

Share this post


Link to post
Share on other sites

Maybe looking to buy in South Manchester in a couple of years. Don't see any falls myself at the moment. [How soon is now]

Here's a sale in Sale...

'Summer Court, 101 Firsway, Sale':

http://www.rightmove.co.uk/viewdetails-10480691.rsp

£94,950

....

Flat 7 can be found on the first floor.

A check with Land Registry for '7 Summer Court Sale':

http://www.houseprices.co.uk/e.php?q=7+summer+court+Sale

  1. 03/02/2004 £137,000
  2. 01/08/2003 £94,200

= 31% fall from February 2004 (at full asking price).

Share this post


Link to post
Share on other sites

Maybe looking to buy in South Manchester in a couple of years. Don't see any falls myself at the moment. [How soon is now]

Here's a sale in Sale...

'Summer Court, 101 Firsway, Sale':

http://www.rightmove.co.uk/viewdetails-10480691.rsp

A check with Land Registry for '7 Summer Court Sale':

http://www.houseprices.co.uk/e.php?q=7+summer+court+Sale

= 31% fall from February 2004 (at full asking price).

Nice find Jeff.

Illustrates what most people know about their own area - local knowledge.

Hopefully, should abate the panic some people are obviously feeling.

Share this post


Link to post
Share on other sites

Nice, keep em coming.

I've kept an eye on city centre and asking prices haven't gone up in 2 years, some reductions. Lots more going up, little selling. Rental market is strong, though low yields obviously.

Thinking more of Chorlton/Whalley Range for myself. Maybe Eccles, though not for a couple of years, but can't live at home forever.

Northwest seems overpiced even compared to the rest of the country.

Check out Nationwide stats

50%? you are joking right?, 20% tops.

Share this post


Link to post
Share on other sites

Nice, keep em coming.

I've kept an eye on city centre and asking prices haven't gone up in 2 years, some reductions. Lots more going up, little selling. Rental market is strong, though low yields obviously.

Thinking more of Chorlton/Whalley Range for myself. Maybe Eccles, though not for a couple of years, but can't live at home forever.

Northwest seems overpiced even compared to the rest of the country.

Check out Nationwide stats

50%? you are joking right?, 20% tops.

I wouldn't be so sure it will stop at 20% ... some house price reductions

Share this post


Link to post
Share on other sites

Much as I hope there will be a crash, a few reductions do not make one. Just because one nutter paid 130k for a 2 bed flat next to the Racecourse estate that is actually worth £90k tops does not mean that the rest of manchester will drop 30%+

Come on guys some prices may be dropping, far too early to say it's a crash.

Edited by How soon is now

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 302 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%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.