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Pablo-silver or lead?

I Was Lying In A Burnt Out Basement When.....

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This was posted by ‘undersupply’ on the ‘What are house prices doing in your area’ Newcastle Upon Tyne, tread.

“City Lofts Group slumped into the red last year with a pre-tax loss of £3.9m against a profit of £5.4m the year before.

The quoted property company, which has three prominent sites on the Quayside including a £30m scheme to convert Gateshead's Tyne Bridge Tower into 168 luxury flats, suffered from no sales from developments in the nine months to the end of December.

The Harrogate-based developer, which specialises in mixed use urban development schemes, yesterday said it had a total development pipeline of £457m. Six of these developments were on site at a total gross development value of £183m.

Five new developments of 1,326 apartments with a gross development value of £274m are due to start in 2006.

Chief executive Stuart Wright said: "The group has been investing in additional internal resources, especially in its management team.

"We have strengthened our project management, sales and marketing capabilities to lay further foundations for the significant growth and expansion of the City Lofts city centre residential development business."

The Tyne Bridge Tower scheme, expected to be completed by next summer, will have 80,000 sq ft of flats ranging in price of £100,000 upwards.”

http://icnewcastle.icnetwork.co.uk/0500bus...-name_page.html

If the ones of us living south of Watford and old enough to have lived through the ‘last time’ are suffering from collective greed driven amnesia, what’s going on up north? Is it different from last time? What happened 1988/9? Ah yes I remember, although prices continued to rise in the north after they started dropping in the south (the ripple lag effect) last time prices up north toped out well below (like for like) the peak southern prices). They went up less and came down less. This is shown in the stats and why some people quote an 18% drop in average UK prices, means there was no crash back then and therefore there won’t be now. The reality of course was you couldn’t give houses away and there were tens of thousands of bargains to be had (in the south) many over 50% lower than their previous highest sale prices.

I remember the refrain from the north “our prices are just catching up with the south it’s a correction that was long over due”. Last time around the market sorted itself out. The north fell a bit the south fell a lot, then prices settled into a sort of equilibrium.

Today looking a Blackpool, Bolton, Newcastle, Liverpool and the like there are prices that would make the most Bullish EA in Berkshire, Hampshire and Surrey blush!

Are their any bulls on here that really believe that the current prices in the north aren’t going to tank in the next 18 months to 2.5 years? If not why not?

Pablo Silver or Lead?

Edited by Pablo-silver or lead?

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Nice one Pablo!

I think the only answers you will get are the ones we have heard a thousand times.

Property is a good investment, its cheap blah blah f***ing blah....

I would like all the southern bulls to come to Liverpool and get an average job £22,500 and try and buy a decent house. The ones you can afford are in areas that I guarantee you would shit yourself living there.

We DONT have a massive economy. There are a LOT of jobs in the NW that are retail based. There are no major employers LITTLEWOODS - GONE!!! JAGUAR (was Fords Halewood) as unstable as an epileptic on a tightrope. MARCONI (GONE). We are average people on low wages in comparison.

I have seen some houses on RIGHTMOVE down south and they look good value in comparison to some of ours! Its MASSIVELY Overpricced in Liverpool and Wirral and the local economy CANNOT sustain it. The City of Culture status has left the usual 'entrepreneurs (*****ERS)' here but once they go......

BANG!!!

TB

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I have seen some houses on RIGHTMOVE down south and they look good value in comparison to some of ours! Its MASSIVELY Overpricced in Liverpool and Wirral and the local economy CANNOT sustain it. The City of Culture status has left the usual 'entrepreneurs (*****ERS)' here but once they go......

BANG!!!

TB

Absolutely - where my parents live in the north there's a house near them that's been on at 349,950, has been on for 18 months at that price and no sale, and they just won't drop the price!! Just to give you an idea - the top sold price in the street for identical house: 249,950 in 2004. There are currently 5 houses on sale in the street for between 300k and 350k and none selling. They're really nice houses (I'd LOVE to live in one like that, but probably will never be able to).

In 2001 those houses were 140k. Sheer madness!

Edited by Zaranna

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Ah pablo you reminded me of one of my favourite Anti War Songs...least ways I interpet it as an anti war song.

You know Tw*ts like GW/TB.......after all the bullsh*t, all the spin, all the lies, some other bugger pays the price....same could be said for all the spin and lies surrounding house values....if your prepared to stretch it I suppose :rolleyes:

Well, i dreamed i saw the knights

In armor coming,

Saying something about a queen.

There were peasants singing and

Drummers drumming

And the archer split the tree.

There was a fanfare blowing

To the sun

That was floating on the breeze.

Look at mother nature on the run

In nineteen seventeen.

Look at mother nature on the run

In nineteen seventeen.

I was lying in a burned out basement

With the full moon in my eyes.

I was hoping for replacement

When the sun burst thru the sky.

There was a band playing in my head

And i felt like getting high.

I was thinking about what a

Friend had said

I was hoping it was a lie.

Thinking about what a

Friend had said

I was hoping it was a lie.

Well, i dreamed i saw the silver

Space ships flying

In the yellow haze of the sun,

There were children crying

And colors flying

All around the chosen ones.

All in a dream, all in a dream

The loading had begun.

They were flying mother nature's

Silver seed to a new home in the sun.

Flying mother nature's

Silver seed to a new home.

Edited by Catch22

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Nice one Pablo!

I think the only answers you will get are the ones we have heard a thousand times.

Property is a good investment, its cheap blah blah f***ing blah....

I would like all the southern bulls to come to Liverpool and get an average job £22,500 and try and buy a decent house. The ones you can afford are in areas that I guarantee you would shit yourself living there.

We DONT have a massive economy. There are a LOT of jobs in the NW that are retail based. There are no major employers LITTLEWOODS - GONE!!! JAGUAR (was Fords Halewood) as unstable as an epileptic on a tightrope. MARCONI (GONE). We are average people on low wages in comparison.

I have seen some houses on RIGHTMOVE down south and they look good value in comparison to some of ours! Its MASSIVELY Overpricced in Liverpool and Wirral and the local economy CANNOT sustain it. The City of Culture status has left the usual 'entrepreneurs (*****ERS)' here but once they go......

BANG!!!

TB

Must agree with this. I am in Manchester (just outside m/c not city centre) and I have been shocked looking at right move prices and listening to those of you down south talking about house prices beeing beyond your reach. I see loads of houses in my area that now seem comparable with London prices - how is this going to be sustained?

To be honest if I had to buy a house now I would move to London because house prices are not that different but there is more employment opportunities in London than here.

Average price of new build two bed flats coming on the market near me are now £199K. These are not city centre apartments - they are your 'run of the mill' two bed FTB flat.

I was talking to an EA a few weeks ago and she got onto the subject of people from London moving 'oop north'. She said she had had a number of viewers who were moving up here for work who were shocked at how little they got for their money. They thought they were going to be buying 5 bed detached houses with massive gardens and they were genuinly shocked at what they could actually afford within their price range.

I have often thought that the increase in public sector employment could go so way to explaining the increases in the north. A teacher/social worker etc gets paid the same wage if they live in London or Manchester/Leeds etc but I don't see this having a massive impact.

Those in the south talk about a lack of housing and increased demand on housing in London because of immigration and job creation. BUT we don't really have this in my area. There are loads and loads of houses stood empty that just are not selling and people are still asking 'silly prices'.

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Those in the south talk about a lack of housing and increased demand on housing in London because of immigration and job creation. BUT we don't really have this in my area. There are loads and loads of houses stood empty that just are not selling and people are still asking 'silly prices'.

Agree - it's pure greed IMO. Even the nastiest houses in manchester and L'pool, ones that were selling for 16-20k in 1999-2000, are now on at 75-80k+ (just look on rightmove at the number of houses currently on in L'pool for that price range to see what I mean - in fact Rightmove says 510 properties available in L'pool between 70-100k - and just look at 'em :lol: not exactly lovely - and, :lol: so many with NO CHAIN!! :lol:). They're not selling - but the sellers won't budge. Crazy people just blinded by their own illusions that someone is going to pay near 100k for a run-down terrace in the red-light district of L'pool, or areas that would make your blood curdle. The average wages there simply cannot support that kind of HPI.

Ferst time buyers, please buy me 'owse!

Edited by Zaranna

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This was posted by ‘undersupply’ on the ‘What are house prices doing in your area’ Newcastle Upon Tyne, tread.

“City Lofts Group slumped into the red last year with a pre-tax loss of £3.9m against a profit of £5.4m the year before.

, suffered from no sales from developments in the nine months to the end of December."

Fook me, now that is scary.

No sales in 9 months - I suspect this is going on in other places too.

BTW the correct link is here

Edited by needle

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Catch22

Anti Raping the Planet

Anti War

It’s like ‘John Shuttleworth’ said

“That Neil Diamond’s got a decent hair cut since he

Split with those hippies Crosby, stills & Nash!”

Needle

Thanks for the correct link

I’m waiting for the Bulls to tell me why I should drawdown on the mass of easy money available to me head north to buy property? What’s the likely 5 year upside?

Pablo Silver or Lead?

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Where are all the bulls when you need them. According to the NAEA and Rightmove, Property is selling like hot cakes and flying off the shelves?

Leeds City Centre.

1. Bed Flat 170K

2. Bed Flat 600K

What my upside HPI in the next 3 years + 20, 30 or 40%?

I need advice.

Pablo Silver or Lead?

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  • 338 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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