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Interesting Chat With Lass At Work

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Just been speaking to a mate at work, who 'bought' (IO mortgage) a 1 bedroom flat in North Sheilds, near Newcastle for £58,000 in January. Shes had an EA valuer in from Reeds Rains who estimated the property at £76,000.

She is now proclaiming how to spend her new found wealth and is now saying I definately wouldnt sell for less than £74000 because the EA says North Shields is still rising above the rest of the north :blink:

Sorry I dont know the street or the postcode, but am I not right in thinking the North has been stagnant or slight declines in the last 12 month. Is this the agent just giving a wild valuation?, because it's got my colleague thinking shes a property mogul. ;):lol:

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Just been speaking to a mate at work, who 'bought' (IO mortgage) a 1 bedroom flat in North Sheilds, near Newcastle for £58,000 in January. Shes had an EA valuer in from Reeds Rains who estimated the property at £76,000.

She is now proclaiming how to spend her new found wealth and is now saying I definately wouldnt sell for less than £74000 because the EA says North Shields is still rising above the rest of the north :blink:

Sorry I dont know the street or the postcode, but am I not right in thinking the North has been stagnant or slight declines in the last 12 month. Is this the agent just giving a wild valuation?, because it's got my colleague thinking shes a property mogul. ;):lol:

Does this price include a bodygaurd for this area ?

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Just been speaking to a mate at work, who 'bought' (IO mortgage) a 1 bedroom flat in North Sheilds, near Newcastle for £58,000 in January. Shes had an EA valuer in from Reeds Rains who estimated the property at £76,000.

She is now proclaiming how to spend her new found wealth and is now saying I definately wouldnt sell for less than £74000 because the EA says North Shields is still rising above the rest of the north :blink:

Sorry I dont know the street or the postcode, but am I not right in thinking the North has been stagnant or slight declines in the last 12 month. Is this the agent just giving a wild valuation?, because it's got my colleague thinking shes a property mogul. ;):lol:

Prices have risen in the NE since January, although not by as much as that:

http://www.houseprices.uk.net/articles/odpm_regional/

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Just been speaking to a mate at work, who 'bought' (IO mortgage) a 1 bedroom flat in North Sheilds, near Newcastle for £58,000 in January. Shes had an EA valuer in from Reeds Rains who estimated the property at £76,000.

She is now proclaiming how to spend her new found wealth and is now saying I definately wouldnt sell for less than £74000 because the EA says North Shields is still rising above the rest of the north :blink:

Sorry I dont know the street or the postcode, but am I not right in thinking the North has been stagnant or slight declines in the last 12 month. Is this the agent just giving a wild valuation?, because it's got my colleague thinking shes a property mogul. ;):lol:

I presume you explained to her that she's got a net worth of £18K and that whilst you are not going to start calling her Joanna D Rockefeller just yet, she may wish to consider offshore investments like buying a bit a bit of Piz Buin (unless she's the usual Tango Geordie girl).

I also presume you asked her how she was going to afford to move up the ladder as if it's still rising, surely the gap to the next rung just got bigger....

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True, flats have done okay in the last Q according to the ODPM. Up over one third of one percent which is better than a kick in the teeth. However, the rate of increase is slower than the YoY which suggests a slightly slowing market:

Newcastle Upon Tyne

Flats

£133,643 Q: 0.4% Yoy: 3.3% 463

Good thing your mate is not in Gateshead as flats there are losing money:

Gateshead

Flats

£92,628 Q -3.3% Yoy: 3.8% 210

Detached homes in NoT are in full crash pace:

Newcastle Upon Tyne

Detached

£296,044 Q: -11.2% YoY: 13.4% 79

Sources:

England and Wales

Land Registry of England and Wales. The information above is based on figures provided by the Land Registry of England and Wales.

Figures for England and Wales are for the period April to June 2006.

http://news.bbc.co.uk/1/shared/spl/hi/in_d.../county96.stm?f

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Guest Alright Jack

Just been speaking to a mate at work, who 'bought' (IO mortgage) a 1 bedroom flat in North Sheilds, near Newcastle for £58,000 in January. Shes had an EA valuer in from Reeds Rains who estimated the property at £76,000.

She is now proclaiming how to spend her new found wealth and is now saying I definately wouldnt sell for less than £74000 because the EA says North Shields is still rising above the rest of the north :blink:

Sorry I dont know the street or the postcode, but am I not right in thinking the North has been stagnant or slight declines in the last 12 month. Is this the agent just giving a wild valuation?, because it's got my colleague thinking shes a property mogul. ;):lol:

I don't get it? Did you manage to get into her pants or what?

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Looks like North Sheilds is NE29 and NE30

average sold flat prices have been falling/level since late 04, however they

are well up on late 03 prices.

http://www.home.co.uk/guides/house_prices_...=ne29&all=1

http://www.home.co.uk/guides/house_prices_...=ne30&all=1

She either bought at a low price or the valuation is too high, the average selling price for a flat is currently 85->90k

Edited by moosetea

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Looks like North Sheilds is NE29 and NE30

average sold flat prices have been falling/level since late 04, however they

are well up on late 03 prices.

http://www.home.co.uk/guides/house_prices_...=ne29&all=1

http://www.home.co.uk/guides/house_prices_...=ne30&all=1

She either bought at a low price or the valuation is too high

Not according to the LR, prices are rocketing :lol: , marry the bitch :P and take half :D

http://news.bbc.co.uk/1/shared/spl/hi/in_d...s/html/ck.stm?f

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I find North Shields fairly appealing for an number of reasons. Walk to metro and main routes to town, ferry to South Shields, metro to airport, and next to Tynemouth and a nearby beach road going North up the coast. I have a friend living there and I keep half an eye on property prices there on certain roads and areas.

So if you know your colleagues address then nethouseprices will confirm the sale price, and also any sales on the same road this year. In the North Shields area 184 flats have sold this year to date. Not many (3 or 4 ) sold below 60,000, so I wonder if your colleague is exaggerating their gains by fibbing about the price paid.

Today I can see that a number of recently built 2 bed flats are reducing their asking prices from £150K+ earlier this year. They weren't in short supply and were way overvalued anyhow. The older Tyneside flats, most of which are 2 bed, were going for £80-£95 earlier this year, depending on the road.

You need some corroborative data to check out the anecdotal evidence I think.

:)

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Send a shiver up your spine if they are right.

Bought in January for 58k and valued in August for 76k.

While you've been arguing the toss on here about interest rates and gold and stock markets .... someone else has got on with their life and made some money.

North Shields is clearly a hot spot. Was it on Phil and Kirsty's list?

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While you've been arguing the toss on here about interest rates and gold and stock markets .... someone else has got on with their life and made some money.

She hasn't 'made' any money until she sells.

:rolleyes:

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find North Shields fairly appealing for an number of reasons. Walk to metro and main routes to town

and I find it rather depressing. Go on gizza job

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She hasn't 'made' any money until she sells.

:rolleyes:

That's a bit like saying someone hasn't got any money until they've spent it! The point is, compared to someone who didn't buy there in January, and is buying now, she's about 20k better off.

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That's a bit like saying someone hasn't got any money until they've spent it! The point is, compared to someone who didn't buy there in January, and is buying now, she's about 20k better off.

No, she is not better off. She had to live in North Shields for 6 months. That is well worth £20K IMHO!

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Having poked around, jsut found out she had to spend 8 grand on it getting it livable. That excludes mortgage / buying fees etc etc etc. Lets say the valuation is 7 or 8 grand over the top, that leaves her with not much.

Feel better now.

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Having poked around, jsut found out she had to spend 8 grand on it getting it livable. That excludes mortgage / buying fees etc etc etc. Lets say the valuation is 7 or 8 grand over the top, that leaves her with not much.

Feel better now.

Love your terminology... 'having poked around' .. I bet you did... northern girls are well up for it ! ;-)

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I know someone who bought a £500 watch for 50 quid!

Who's the mug?

The person I know probably.

I expect so. You can buy a watch that tells time perfectly adequately for a tenner.

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Having poked around, jsut found out she had to spend 8 grand on it getting it livable. That excludes mortgage / buying fees etc etc etc. Lets say the valuation is 7 or 8 grand over the top, that leaves her with not much.

Feel better now.

Why say the valuation is £7/8k over the top? why not make up a better figure? Lets say £50k over the top!

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Having poked around, jsut found out she had to spend 8 grand on it getting it livable. That excludes mortgage / buying fees etc etc etc. Lets say the valuation is 7 or 8 grand over the top, that leaves her with not much.

Feel better now.

Sounds to me like she bought a complete shit hole and has spent a lot of time and money on it. Fair play if she has made a profit on it, if she was prepared to put the work in then you can't begrudge her that.

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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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