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flash harry

Manchesters Green Qtr

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Hi all,

I was in an estate agents in Manchester yesterday and overheard an interesting telephone conversation. The estate agent was advising somebody that they were not accepting apartments in the green quarter onto their books because they are currently 'under valuing them'. The person she was speaking to asked what this meant. She replied that they were pricing them at below the value which people had bought them for. The reason 'because the area had not become known well enough yet'.

The estate agent was acting (in my opinion) quite honarable by advising that it would be pointless placing them onto her books becuase it would just sit in the window for a year. Although her next piece of advise 'rent it out.. you'll make a profit in the end, you just need to wait'. Maybe that advise was not quite as sound judging by the amount of BTL flat which are due to come on the market over the next 12 months.

What do people think?

FH

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I'm in two minds: at least the EA was honest (oxymoron?) The EA just didn't want the hassle.

On the other hand, fobbing the caller off with the "rent it" spiel may have been misleading. But what else could the EA say? "Drop the price by £45K and SELL NOW, quick!"

Nonetheless, it's all good news for me and other BTLs who are just waiting and watching....

Looking forward to buying my appartment whenever I consider the prices are reasonable. Not before.

I'm very happy (and living cheaply) renting. I feel FREEEEE!

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  • 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%



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