Yorkshire Prices

[Beadbo]

Hi LS7,

I am watching prices in LS7/17 & 8 area and have noticed price drops in these areas, 2 bed back to back terrace asking price in Harehills gone down from 75k to 71K, and 2 bed new build flat in oakwood/gipton down from 99k to 95k, and 2 bed former council flat in LS17 down from 120 to 110k asking price, tho still lots of silly asking prices, everywhere, a particular eg, is 329k for 3 bed detached in Gipton/Oakwood which taking p1ss a bit! http://www.rightmove.co.uk/viewdetails-868...pa_n=1&tr_t=buy

similar non detached a few streets away going for 170k...

Glad you are sticking to your guns!

[Lou G]

even beadnall copley are dropping prices,

Think they are more realistic with whats going on in the market..Beadnalls said to my husband and I "well it could all end in tears".!!!

My sister gazumped today.!! Cannot believe it!!

[Lou G]

Saw a house in the paper today and phoned up to view, it has already sold. In fact, it sold the day after it came on the market.!

It was a good price for this local market hence got snapped up...market isn't that quiet..

Lou

[Lou G]

Just an update. Spoke to local agent today, he said July was very very quiet but August has been very busy. Just this week they have sold 17 houses.! (Leading local agent).

Seems the August rate cut has spurred some more activity here, be interesting to see how this all pans out.!

Getting fed up in rented ourselves so we viewed two properties today. Came straight away and thought there is no way we are paying this price etc and were relieved to get back to our rented house.!

Sometimes there is nothing like viewing property for a reality check.! Think we could be in rented for years.!!!

[the end is a bit nigher]

I know how you feel - viewed a property about a year ago, up for £500 and then £480k - if it had been around £400k we would have bought - that's the approx. 20% reduction I'm looking for though

[Lou G]

I know how you feel - viewed a property about a year ago, up for £500 and then £480k - if it had been around £400k we would have bought - that's the approx. 20% reduction I'm looking for though

I notice that alot of houses over the £350k mark and especially the £400k mark are really struggling to sell. A couple I have noticed have been withdrawn and then let out. I think houses around this price are in for a major correction.

Ourselves are looking at around the £300k mark but could do with prices coming down 20-30% to makes things more comfortable. When we buy I would prefer a small mortgage hence the wait.!

[the end is a bit nigher]

i am lucky in that i have a very good job and as such can put down a decent sized deposit and could borrow quite a large sum - however, for the money i could stump up now i am being offered 4 bed houses when 5 years ago i could literally have bought a 5 or 6 bed property with an acre of land! and they wonder why houses aren't selling

incidentally, i notice the number of £400k+ properties on the B&C website has increased 5-fold in the last week or 2 as your post would suggest - i dont know if these people are struggling or looking to downsize or just move upwards but either way, they aren't selling

[IMupNorth]

My own take at the moment is that houses, below £350k, seem to be fairly static at the moment having been going up earlier in the year, but the stuff over this seems to be going up and up. I agree though that they don't seem to move that fast.

Over the past 12 months or so, the higher end seems to have gone up at least 20% and each month it seems to get more outrageous - hence those that have been on the market 6 months or so, suddenly seem to be priced relatively cheap compared to whats just come onto the market.

The market shows no signs of going down, anything reasonably priced gets snapped up. What seems to have happened is that asking prices have definitely gone up from last year, most are left on the market at this rate and only those keen to sell then drop them back a bit to get the sale, but these only drop back to last years prices at best.

Still no sign of any crash.

[the end is a bit nigher]

have to disagree there - beadnall copley in harrogate has 16 properties in the £400-£500k range - 6 months ago they had 4 - i would say 12 of the properties in the range would have previously been up for over £500k

of course i want a crash so you could argue that i am a biased, however, i would note that previously on this thread i have pointed out my disappointment that prices seemed to be rising - well now they are definitely falling

[foxytrader]

have to disagree there - beadnall copley in harrogate has 16 properties in the £400-£500k range - 6 months ago they had 4 - i would say 12 of the properties in the range would have previously been up for over £500k

of course i want a crash so you could argue that i am a biased, however, i would note that previously on this thread i have pointed out my disappointment that prices seemed to be rising - well now they are definitely falling

Hope you are right too End. The problem about looking at what one might term "family-sized" houses (in my case I need 5 bedrooms and preferably 6 and ideally 7!) in central Harrogate is that there simply aren't that many of them. My eldest child starts secondary school in September 2007 so we even have a deadline which is inflexible. If I work on the basis of buying once only and living there until my youngest (now 3) leaves home (!) then I need to get it right as I will still be living there in 20 years time. If that house currently costs £500k and I think £400k is a "fairer" price what do I do? Do I hold on in rented accommodation in the hope that the very house that fulfills all my requirements will become available in the course of the next 18 months or do I say that if I got that house for a 7% discount to the asking price (that I read is the average obtained) then I am paying 65k "over" what I should be paying and the cost of servicing that extra borrowing is the price I must pay for having little flexibility?

It's a tough choice. Buy near what you believe is the top of a market about to plummet and bear the pain and have a happy wife OR stay in rented accommodation in the hope of being able to swoop on a bargain which may not materialise and have a wife climbing the walls desperate for her own home and stability.

My head hurts.

Foxytrader

[Lou G]

have to disagree there - beadnall copley in harrogate has 16 properties in the £400-£500k range - 6 months ago they had 4 - i would say 12 of the properties in the range would have previously been up for over £500k

of course i want a crash so you could argue that i am a biased, however, i would note that previously on this thread i have pointed out my disappointment that prices seemed to be rising - well now they are definitely falling

Hubby spoke to another agent yesterday. Told the agent we were "fed" up with such high prices and would wait for things to change. The agent replied " well, things have changed!". We are forwarding offers to vendors of 10 to 20% below asking price and these are being accepted.!!

Interesting stuff..

Hope you are right too End. The problem about looking at what one might term "family-sized" houses (in my case I need 5 bedrooms and preferably 6 and ideally 7!) in central Harrogate is that there simply aren't that many of them. My eldest child starts secondary school in September 2007 so we even have a deadline which is inflexible. If I work on the basis of buying once only and living there until my youngest (now 3) leaves home (!) then I need to get it right as I will still be living there in 20 years time. If that house currently costs £500k and I think £400k is a "fairer" price what do I do? Do I hold on in rented accommodation in the hope that the very house that fulfills all my requirements will become available in the course of the next 18 months or do I say that if I got that house for a 7% discount to the asking price (that I read is the average obtained) then I am paying 65k "over" what I should be paying and the cost of servicing that extra borrowing is the price I must pay for having little flexibility?

It's a tough choice. Buy near what you believe is the top of a market about to plummet and bear the pain and have a happy wife OR stay in rented accommodation in the hope of being able to swoop on a bargain which may not materialise and have a wife climbing the walls desperate for her own home and stability.

My head hurts.

Foxytrader

Same here, although we have a smaller budget we have the same dilemma. I as the "wife" am getting very fed up not being able to "nest" build by painting and decorating etc, even my hubby is getting fed up with renting, BUT when I look at how overpriced houses are I believe a major adjustment has to take place. There is a house next to us for sale, it was £127k 8 years ago and is now for sale at £475k.!!!

It has not sold yet. In fact they are relocating so are time restricted, even if we put in a lower offer its beyond our budget. Maybe I should forward you the details.!!

Its a difficult situation for everybody, in my humble opinion if you have not seen a house you love then there is nothing to lose by staying in rented. If you see something that you "must have" and can comfortably afford it then I think I would buy.!! The main reason we are not buying is that if we did to get something nice and in a good area we would have a high mortage and I don't want a big mortgage as not a "spring chicken" anymore and would like to stop work soon.!!

Lou.

[Goat]

It's a tough choice. Buy near what you believe is the top of a market about to plummet and bear the pain and have a happy wife OR stay in rented accommodation in the hope of being able to swoop on a bargain which may not materialise and have a wife climbing the walls desperate for her own home and stability.

My head hurts.

Foxytrader

Its easy really, buy now and watch all of your capital annihilated (possibly into negative equity) over the next two years or hold your nerve. In six months or so, with property prices beginning the slope to a 20-30% fall she will thank you.

If you buy now and the crash happens you will hate her for talking you into it.

[ILBB]

Spoke to a girl who works at a Huddersfield EAs the other day and she said September was unusually quiet for what is normally quite a good month and October had started off even quieter. She expected things to pick up next year 'when interest rates come down'.

[Boom'n'Bust]

Seems like the HP Inflation is now having an affect in the north too

http://www.thisisbradford.co.uk/bradford__...BRAD_NEWS8.html

Price rise drives first-time buyers out of area

by Clive White

First time buyers are having to flee Craven to find a home because house prices are so high.

At the same time, increasing numbers of higher income families are moving into the Skipton area from Bradford, Leeds and North Lancashire, a housing survey has revealed.

It has also exposed a huge demand for affordable homes - with 288 needed every year for the next five years in the whole of Craven and the southern Yorkshire Dales.

And in the year up to June there were 2,000 people staying with friends or in another household because they could find nowhere affordable to live.

The survey, commissioned by Craven Council and to be published before the end of the month, is based on a districtwide questionnaire. It also involved an investigation into average house prices across the district. It revealed that first time buyers have to pay from £120,000 to £180,000 for a terraced home in the Skipton and Embsay area.

And house prices in many locations had gone up higher that in other areas of North Yorkshire in the last five years.

Craven was particularly popular because of its closeness for commuting to West Yorkshire, its countryside, good schools and low crime level.

In the past five years, 7,196 households had moved within Craven, 47 per cent relocating into the area. And the amount of social housing was one of the lowest in the North of England with only nine per cent of people renting a home, compared to 21 per cent in Yorkshire and Humberside.

Also, fewer homes were expected to come on to the market because people aged over 60 will want to remain in their own homes.

The report says: "A range of affordable homes needs to be delivered and research show a strong preference for two bedroomed properties."

Craven Councillor Eric Jaquin, housing needs spokesman, said: "There is a real housing need across the district. We must move forward and take action on the number of affordable housing schemes."

Peter Stockton, Yorkshire Dales National Park's strategic planning officer, said: "It means we now have accurate information more or less dale by dale on what the requirements are for affordable housing throughout the National Park.

"It gives us a good, sound basis for tackling the lack of affordable housing by working with our partners - district and parish councils and housing associations."

The full report will eventually be available on the Council website at www.cravenc.org.uk.

[ILBB]

Heard a whisper that the developer is about to halt work halfway through this project.

http://www.rightmove.co.uk/viewdetails-966...pa_n=3&tr_t=buy

Several apartments in phase 1 have been for sale for ages. Personally I don't think the £90 pcm service charge for having your windows cleaned once a month helps! Note the overenthusiasm of the selling agent who typically describes the filthy orange coloured stream which trickles nearby as a 'river'.

* The stream is orange because iron ochre leaches from old mine workings further up the valley.

Edited October 19, 2005 by ILBB

[eurows]

It cannot help to have Simon Blyth selling them. I find them the most arrogant and expensive EA in Yorkshire.

He over prices houses just for the fun of it. I personally would never buy anything he sells whatever cost.

I see loads of Simon Blyth properties on the market around Holmfirth some for over 2 years such as this one

http://www.rightmove.co.uk/viewdetails-460...pa_n=1&tr_t=buy

The other properties in this group of four sold for £250,000 a year ago with Halifax EA. This one has been on the market for 2 1/2 years. 1 1/2 with Halifax at £275,000 and the last year with Simon Blyth at £315,000.

Simon Blyths answer to not selling a house is putting the price up. No Dining Room, No garage, No garden no space. and there are loads like this.

Heard a whisper that the developer is about to halt work halfway through this project.

http://www.rightmove.co.uk/viewdetails-966...pa_n=3&tr_t=buy

Several apartments in phase 1 have been for sale for ages. Personally I don't think the £90 pcm service charge for having your windows cleaned once a month helps! Note the overenthusiasm of the selling agent who typically describes the filthy orange coloured stream which trickles nearby as a 'river'.

* The stream is orange because iron ochre leaches from old mine workings further up the valley.

As for Holmfirth. I have lived here for the past 2 years. Have now found another rental as I won't buy at these prices and find Holmfirth the most boring place I have ever lived. Its like a town turned into an old folks home. People roam round looking at pot models of compos welly's and the outside of cafes.

Anybody that spends £220,000 on a 2 bed flat in Holmfirth must be madder than mad.

[a j]

Anybody that spends £220,000 on a 2 bed flat in Holmfirth must be madder than mad.

A mate of mine bought a two bed flat in Holmbridge in early 1995 for £28,000. He had to move for work two years later. It took a year to sell and he lost £3k in the process.

[Lou G]

Seems like buyers are out their again! I think the rate drop has spurred alot of activity., buyers believe prices are going to go up again as interest rates might drop again.

Gosh, this seems to be never ending.!! Getting fed up with it all...

[the end is a bit nigher]

just looked in the weekly property paper and the drops in asking prices are quite dramatic which may help to explain sales going through

funny how people expect prices to be higher when IRs are at 4.5% than they were at 3.5% - not very sound economically

[JohnnyLaw]

Seems like buyers are out their again!

Out of their minds?

[Lou G]

just looked in the weekly property paper and the drops in asking prices are quite dramatic which may help to explain sales going through

funny how people expect prices to be higher when IRs are at 4.5% than they were at 3.5% - not very sound economically

Hubby and I read the property paper and got throughly depressed tonight.! There just seems to be low end stock, ie one bed flats and then a jump to stuff over £400k and upwards. Nothing inbetween.

the end is nigh, can I ask, are you seeing higher end stuff drop.? I tend just to look at around the £250k to £325k mark so am probably missing some of "whats going on" in other areas of the market..

ta

Lou...

[Leeds-Bozz]

Hubby and I read the property paper and got throughly depressed tonight.! There just seems to be low end stock, ie one bed flats and then a jump to stuff over £400k and upwards. Nothing inbetween.

the end is nigh, can I ask, are you seeing higher end stuff drop.? I tend just to look at around the £250k to £325k mark so am probably missing some of "whats going on" in other areas of the market..

ta

Lou...

As someone to wohm looking at £250K is just $ank mag territory I say take comfort. If plankton down here ain't stupid enough to snap on the t%rds being offered in my range in Leeds, neither will bigger mackerel further up the pyramid.

Edited October 21, 2005 by Leeds-Bozz

[Take me to the cleaners]

Don't worry. No-one can afford to buy anymore. If they do buy they are just taking on lots of unreasonable debt. Yorkshire is no different to anywhere else. It will all change eventually; just hold on.

Anyway, talking about central Leeds: had a client renting a central Leeds flat. Told me there is hardly anyone else in the block for the last 6 months. The Neville Street development looking over the back of Granady Wharf.

I have also heard that St George Church development, which you can see being built from the City Centre motorway has been sold in its entirety to a brother and sister team. Wonder if they will go bankrupt together.

On a final point, Hendys are still doing my head in.

[Boom'n'Bust]

Don't worry. No-one can afford to buy anymore. If they do buy they are just taking on lots of unreasonable debt. Yorkshire is no different to anywhere else. It will all change eventually; just hold on.

Not according to Yorkshire Post:

http://www.yorkshiretoday.co.uk/ViewArticl...ticleID=1230172

'Healthy' rises in house prices

Region's increases almost country's highest

Rob Waugh

HOUSE prices are rising in the Yorkshire region faster than almost anywhere else in the country, according to the latest survey by the Halifax. The annual rate of growth in Yorkshire and the Humber is now eight per cent – well above the national average of three per cent and the second strongest growth of any English region. But the growth is still much less than last year with prices beginning to level out.

Chris Stonock, regional manager, Halifax Estate Agency, said: "Yorkshire and the Humber has seen comparatively healthy property price increases of eight per cent over the past year, the second strongest growth of any English region. "Yet this growth is still well below the rates experienced in 2004 and a number of locations are now seeing a levelling in prices. The firmest house price growth has been outside the larger cities, in towns nearby with good commuter links. "Towns in West Yorkshire within commuting distance of Leeds, such as Cleckheaton, Halifax and Mirfield have been some of the best performers, while in North Yorkshire Skipton continues to see increases."

House prices in Yorkshire and the Humber area also rose by three per cent in the third quarter of this year. Overall prices have risen by 80 per cent over the last three years, ranking the region third out of 12 in the UK. As a result, Greater London prices are now only 1.9 times higher than those in Yorkshire and the Humber. In the third quarter of 2001 Greater London prices were 2.9 times higher. Mr Stonock added: "Prices in both Sheffield and neighbouring Rotherham have stabilised over the past year as buyers increasingly look further afield to surrounding towns and villages with good commuter links.

"Barnsley and Scunnthorpe have registered double-digit annual house price growth of 12 per cent and 10 per cent respectively over the past year. "In Doncaster a good supply of new build properties has helped to meet buyer demand. Annually house prices are up four per cent. The expansion of the new international airport next year combined with planned developments, including the expansion of the shopping precinct and transport interchange, should also help to boost interest in the town." But while commuter towns within reach of Leeds are booming, the city continues to experience a flatter market. Areas to the north of Leeds that have previously also experienced strong growth, such as Wetherby, which has one of the highest average house prices in the region, at £236,802, have seen a slower market.

By contrast, neighbouring Bradford (12 per cent ) and Halifax (13 per cent) continue to see above average house price growth.

In North Yorkshire, prices in York and Harrogate still remain well above the regional average, while Scarborough has reported a six per cent increase over the past year. The east of the region has seen varied house price performance. In Hull, growth over the past year stands at three per cent, with properties taking markedly longer to sell.

22 October 2005

[the end is a bit nigher]

the end is nigh, can I ask, are you seeing higher end stuff drop.? I tend just to look at around the £250k to £325k mark so am probably missing some of "whats going on" in other areas of the market..

ta

Lou...

hi lou - yes, the falls we are seeing are in the £400k+ bracket and there are plenty of them - earlier in the year Beadnallcopley had about 6 for sale in the £400-£500k range, today they have 20+ - some of these have already been reduced, others have been there for the last 3 or 4 months

also noticed a few in the lower brackets coming down too

"In North Yorkshire, prices in York and Harrogate still remain well above the regional average, while Scarborough has reported a six per cent increase over the past year."

House prices are always well above the regional average. Harrogate has one of the highest average prices in the country. York is quite a bit behind but is still above places like Mirfield and Halifax. It isn't really comparing like with like.