Guest Daddy Bear Posted January 15, 2007 Report Share Posted January 15, 2007 Is there any evidence of a downturn in two bedroom flats in the citycentre or on the outskirts of the city centre? Are there many still being built and awaiting the market. How many and what are the completion dates? Have Flats & family homes (3/4 bedroom houses) held their prices/risen much since 2005? Has there been a slow down in turnover or increasing FOR SALE signs? Answers and other thoughts (anecdotal evidence) most welcomed. DB Quote Link to post Share on other sites
mrhappy Posted January 16, 2007 Report Share Posted January 16, 2007 I've been watching a development in Wakefield finished in 2004, none of the flats which have resold have touched their 2004 prices. I'm now very interested in the waterfront project (or what rentals will be expected) when it is finished in March. Quote Link to post Share on other sites
Fancypants Posted January 16, 2007 Report Share Posted January 16, 2007 friend of mine is trying to sell her 4br terrace in Harehills (one of the nicer parts, to be fair). Has been on since before Christmas, no biters, has already had to drop asking by £10k. I'd happily live there, but I can't think of many people in Leeds with over £200k to spend who would want to. Quote Link to post Share on other sites
breeze49 Posted January 17, 2007 Report Share Posted January 17, 2007 (edited) friend of mine is trying to sell her 4br terrace in Harehills (one of the nicer parts, to be fair). Has been on since before Christmas, no biters, has already had to drop asking by £10k.I'd happily live there, but I can't think of many people in Leeds with over £200k to spend who would want to. I have lived near Harehills and a fairer price would be 150k Max. Its amazing that in some of the 'worst' areas of Harehills prices have tripled in 3 Years. I bought property at Crossgreen and also just off Halton Moor 4 years ago and they have more than doubled. I wonder what effect on the area the new dual carriage from the M1 into S Leeds and the new retail park will have on the Cross Green and Halton Moor areas... obviously i'm hoping that prices will go up. Tony Edited January 17, 2007 by breeze49 Quote Link to post Share on other sites
breeze49 Posted January 17, 2007 Report Share Posted January 17, 2007 (edited) Daddy Bear, Three years ago I cycled along side the river Aire through Leeds and I couldn't believe how many high rise flats were being built along the river sides and now it seems inner city flats are appearing all over the place. I read somewhere that Leeds has a very high proportion of these flats empty, pssible due to too many being built, rents too high etc. Personally I think the prices of these will drop drastically and a bargain could be had within a few years. I also think a lot of the tower blocks will become the slums of the future.. one cant beat a good old terrace or semi as they are much nicer enviroments to live in . I think the City Council has encouraged the building of inner city properties to reduce the amount of traffic in and out of Leeds as part of the government's target of reducing city pollution. Incidently , I am against the twin towers project, 500 foot skyscraper, because I think it is dis-tasteful after what happened in America and think it could be a target for terroism. I also think it is out of character with the City's architecture and embodies the sickness within Leeds City Council of glamourising the inner city at the expense of the poor suburbs. Leeds will have two parasitic buildings now , the 'Kremlin' social security/NHS building and now the twin towers. Sorry for going on but felt like a moan. Tony Edited January 17, 2007 by breeze49 Quote Link to post Share on other sites
mrhappy Posted January 17, 2007 Report Share Posted January 17, 2007 (edited) I read somewhere that Leeds has a very high proportion of these flats empty, pssible due to too many being built, rents too high etc. I read that too, it said landlords were happy to sit on empty properties due to capital appreciation. One of the first bearish articles I ever read was on the Leeds market. It was around 2002 I think in the Yorkshire post. It said that if you take the current stock of flats in Leeds in 2001 the same number is currently under construction and the same number AGAIN had been granted planning permission. It said the total stock would tripple by 2010 and questioned if they were all needed on current demographics. Edited January 17, 2007 by mrhappy Quote Link to post Share on other sites
Garry AKA Pod Posted January 17, 2007 Report Share Posted January 17, 2007 Incidently , I am against the twin towers project, 500 foot skyscraper, because I think it is dis-tasteful after what happened in America and think it could be a target for terroism. It's Leeds for F**ks sake! Not a capital city or anywhere of significance on the World scene. (Sorry if that doesn't help your house rise in value!!) The 7/7 ba$tards came from Beeston, why would they bomb their own doorstep? Quote Link to post Share on other sites
the end is a bit nigher Posted January 21, 2007 Report Share Posted January 21, 2007 Wetherby has more new build flats and even houses than you can count and even the ones from 2003 haven't all sold yet Quote Link to post Share on other sites
Guest Daddy Bear Posted January 22, 2007 Report Share Posted January 22, 2007 I read somewhere recently there are 5000 new units (2 bedroom flats) scheduled to come onto the Leeds City centre market in the next 18 months - is this a true figure - anyone got any evidence? Anyone think there will be demand for these? Looking at 2 bed flat prices over the last 6 months there is a lot of evidence of price falls. However houses don't appear to be falling as much - if at all. DB Quote Link to post Share on other sites
rjm2k1 Posted January 29, 2007 Report Share Posted January 29, 2007 The town planners in Leeds should be shot for what they have allowed to happen. A couple of years ago, the place started to look quite nice, a lot of tall ugly old buildings had been pulled down and it all started to look nice and open and light. Now, you have so many tall buildings sat virtually on the roadside that the only way to see daylight is by looking up, soon you'll have to collect a lamp to enter the city if you want to be able to see anything. And as the the green bulbous ship like monstrisity which now sits where Howarth timber used to be, who on earth came up with that idea? Perhaps someone should start a website on the hideous sights that are springing up! Quote Link to post Share on other sites
Fancypants Posted January 30, 2007 Report Share Posted January 30, 2007 friend of mine is trying to sell her 4br terrace in Harehills (one of the nicer parts, to be fair). Has been on since before Christmas, no biters, has already had to drop asking by £10k. still no offers, now on with another agent, dropping price by another £10k. Quote Link to post Share on other sites
Fancypants Posted April 3, 2007 Report Share Posted April 3, 2007 still no offers, now on with another agent, dropping price by another £10k. SOLD! At £199K... (was originally on at £225k). Quote Link to post Share on other sites
Bootsox Posted April 3, 2007 Report Share Posted April 3, 2007 (edited) For interest, I have attached some research based on sale prices for a large block of 1/2 bedroom city centre apartments called Magellan House (near the Royal Armouries). Colour coded as follows: red = loss/marginal profit blue = reasonable/large profit Regards Sox Magellan_House_Sale_Prices_PDF.pdf Magellan_House_Sale_Prices_PDF.pdf Edited April 4, 2007 by Bootsox Quote Link to post Share on other sites
Guest Daddy Bear Posted April 4, 2007 Report Share Posted April 4, 2007 For interest, I have attached some research based on sale prices for a large block of 1/2 bedroom city centre apartments called Magellan House (near the Royal Armouries).Colour coded as follows: red = loss/marginal profit blue = reasonable/large profit Regards Sox Spoke to an estate agent today he actually agreed with me that 2 bedroom flats hit their peak in spring/summer 2005 and generally have held or dropped since then. Cautious of irish investors holding a huge number of units (empty) purely for capital gain and then flooding the market as forced to sell due to domestic irish market turning to rat's chit..... Also mentioned the 1000's of units still to come to market in pipeline over next 18 months.... Leeds HPI on houses 20% 2003 10% 2004 5% 2005 0-5%2006 0 2007 spot the trend? DB Quote Link to post Share on other sites
the end is a bit nigher Posted April 13, 2007 Report Share Posted April 13, 2007 met a bloke today who bought a 2 bed flat in leeds in 2005 for £230k - currently trying to offload for £185k - guess what? no-one interested Quote Link to post Share on other sites
kagiso Posted April 13, 2007 Report Share Posted April 13, 2007 met a bloke today who bought a 2 bed flat in leeds in 2005 for £230k - currently trying to offload for £185k - guess what? no-one interested £1800pcm I am sooooo glad I am renting. Quote Link to post Share on other sites
House Master Posted April 21, 2007 Report Share Posted April 21, 2007 SOLD! At £199K... (was originally on at £225k). Hi Fancypants I am amased this 4 bed terrace sold in Harehils for £199K! You say it is in the nicer part of Harehills, wherabouts? Is it the chapel Allerton/Potternewton side of Roundhay Road? Quote Link to post Share on other sites
lesqualita Posted April 27, 2007 Report Share Posted April 27, 2007 love the way all flats are all luxury flats, not bog standard. in the words of a marc almond song, there pulling down the old slums to build the new. people never learn! by the way whaat do you think to the absurd prices in kirkstall? Quote Link to post Share on other sites
Fancypants Posted April 29, 2007 Report Share Posted April 29, 2007 whaat do you think to the absurd prices in kirkstall? I think they're absurd! Quote Link to post Share on other sites
Carabansity Posted April 30, 2007 Report Share Posted April 30, 2007 Eddisons auction at LUFC on 10th May has Lot No. 130, Flat 1, Aspect 14, Elmwood Lane, Leeds up as follows; Status: Available Guide Price: £110000+ Category: Vacant Residential Full Address: Flat 1, Aspect 14, Elmwood Lane, United Kingdom, LS2 8WE Category Heading: Vacant modern style 2 bedroom apartment in purpose built block Description: Situated Off Clay Pit Lane close to the junction with the Inner ring Road A58(M) in the city centre. Ground Floor Communal entrance hall, Private hall, bathroom, open plan living area with kitchen having built in appliances, two bedrooms, en suite shower room to one bedroom. Outside Communal grounds. Note * Double glazing * We are informed that the flat was formerly let at £600 p.c.m. * A service charge is payable. Tenure Leasehold for a term of 999 years from 1.1.2003 @ £150pa Net House prices says....£201,500 on 23rd November 2003 http://www.eddisons.com/pages/auctioncatal...n=16&Page=9 http://www.nethouseprices.com/index.php?co...&curPage=15 Quote Link to post Share on other sites
House Master Posted April 30, 2007 Report Share Posted April 30, 2007 Eddisons auction at LUFC on 10th May has Lot No. 130, Flat 1, Aspect 14, Elmwood Lane, Leeds up as follows;Status: Available Guide Price: £110000+ Guide prices mean absolutley nothing! I was looking at a property in Eddisons Auction in March that had a guide of £110,000 and it sold for over £250,000. They often make guide prices very low to attract bidders. This is the opposite mentality to estate agents but that is how auctions work. Quote Link to post Share on other sites
House Master Posted April 30, 2007 Report Share Posted April 30, 2007 Guide Price: £110000+ Quote Link to post Share on other sites
adren Posted April 30, 2007 Report Share Posted April 30, 2007 It's Leeds for F**ks sake! Not a capital city or anywhere of significance on the World scene. (Sorry if that doesn't help your house rise in value!!)The 7/7 ba$tards came from Beeston, why would they bomb their own doorstep? Because no-one would be able to tell! Tha - bum - TISHHHHH. Quote Link to post Share on other sites
the end is a bit nigher Posted May 1, 2007 Report Share Posted May 1, 2007 Outside Communal grounds. oh yes........and several multi-lane carriageways, the motoring equivalent of Clapham junction! Quote Link to post Share on other sites
bobby davro Posted May 3, 2007 Report Share Posted May 3, 2007 what do people think of the market in Armley? Do you still think it has the potential to increase? Quote Link to post Share on other sites
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