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hark...was that a touch of optimism on these boards...

Possibly, but not for long I'm afraid:

http://www.auction.co.uk/residential/LotDe...amp;S=C&O=A

Leeds 10 Wood Moor Court, Sandmoor Avenue, West Yorkshire LS17 7DR

A Leasehold Self-Contained Purpose Built Second Floor Flat

BY ORDER OF L BROOKS MRICS AND A PACKMAN MRICS OF ALLSOP LLP ACTING AS JOINT FIXED CHARGE RECEIVERS

Lot 405 Auction 2nd and 3rd June 2009

Guide Price £145,000 - £165,000

Result £169,000

From Land Registry:

Originally sold 29/06/07 for £300,000

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This is a project I have been running for a little while and is a study of re-sale prices for a block of newish build flats called Magellan House (near the Royal Armouries, Leeds).

I have updated the data, based on recent sales, and it is presented in tabulated and graphical form.

The colour scheme for the table is a bit notional, on my part, but red represents loss or marginal gain on re-sale and blue a gain.

Magellan_House_sale_prices_table.pdf

Magellan_House_sale_prices_graph.pdf

Magellan_House_sale_prices_table.pdf

Magellan_House_sale_prices_graph.pdf

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Good work Bootsox (you forgot to update the sale at the back end 08 of 37 Magellan for £98,000 which is what caused controversy in the thread when i said that this was a good price to buy it at (possibly because it's not on Ourproperty.co.uk which i believe is the site you use...)

So then, 37 Magellan house - £30,000 profit for the 'fool' that bought it at £98,000 in less than a year, what a terrible investment that was, and the market has only really just started to recover.... ummm what a terrible yield that is!!! Everyone that argued so vehemently against me was full of [email protected]*t, and you seem to pride yourselves on knowing so much about property!

Lesson to readers - be brave when the market is fearful and fearful when the market is brave... trust your own instincts and don't listen to pessimistic comments from people on discussion forums!

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This is a project I have been running for a little while and is a study of re-sale prices for a block of newish build flats called Magellan House (near the Royal Armouries, Leeds).

I have updated the data, based on recent sales, and it is presented in tabulated and graphical form.

The colour scheme for the table is a bit notional, on my part, but red represents loss or marginal gain on re-sale and blue a gain.

Thanks for this - very interesting. Perhpas the cancellation of the Lumiere has contributed to the uptick? Also the improvement of the infrastructure near to the Royal Armouries. Though there are several (?) hundred coming on to the market around now with the completion of the (also Linfoot-delayed) Manor Mills development between the city centre and Holbeck. Though I think that might be it now for a while?

I don't see any Leeds flat making gains and holding on to them for the next few years.

I'm moving into Brewery Wharf this week, a little pricy but I had myself to blame for needing somewhere soon-ish and finding the rental market tight at that particular time. Great views to the east though.

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This is a project I have been running for a little while and is a study of re-sale prices for a block of newish build flats called Magellan House (near the Royal Armouries, Leeds).

I have updated the data, based on recent sales, and it is presented in tabulated and graphical form.

The colour scheme for the table is a bit notional, on my part, but red represents loss or marginal gain on re-sale and blue a gain.

Thanks for this - very interesting. Perhpas the cancellation of the Lumiere has contributed to the uptick? Also the improvement of the infrastructure near to the Royal Armouries. Though there are several (?) hundred coming on to the market around now with the completion of the (also Linfoot-delayed) Manor Mills development between the city centre and Holbeck. Though I think that might be it now for a while?

I don't see any Leeds flat making gains and holding on to them for the next few years.

I'm moving into Brewery Wharf this week, a little pricy but I had myself to blame for needing somewhere soon-ish and finding the rental market tight at that particular time. Great views to the east though.

PS I'm glad I'm making a habit of copying posts at themoment before submitting...

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Good work Bootsox (you forgot to update the sale at the back end 08 of 37 Magellan for £98,000 which is what caused controversy in the thread when i said that this was a good price to buy it at (possibly because it's not on Ourproperty.co.uk which i believe is the site you use...)

So then, 37 Magellan house - £30,000 profit for the 'fool' that bought it at £98,000 in less than a year, what a terrible investment that was, and the market has only really just started to recover.... ummm what a terrible yield that is!!! Everyone that argued so vehemently against me was full of [email protected]*t, and you seem to pride yourselves on knowing so much about property!

Lesson to readers - be brave when the market is fearful and fearful when the market is brave... trust your own instincts and don't listen to pessimistic comments from people on discussion forums!

lesson to readers - be incredibly selective about your illustrative data and you can say almost anything you like!

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Yes, what became of no.37 Magellan House?

According to Allsop's website, sold at auction on 30/10/08 for £98k.

http://www.auction.co.uk/residential/LotDe...amp;S=C&O=A

This sale does not appear on nethouseprices or ourproperty websites (these sites provide details of LR database), although a sale of no.37 for £128k is recorded on 22/06/09.

Also note that no.32 sold on 30/10/08 for £148,500.

Sometimes LR can be slow to input info, or solicitors can be slow to issue same. Or maybe, despite being sold at auction the sale failed to complete. Or between Allsop, solicitors and LR, 32 got muddled with 37.

When I have a spare mo, I will raise the issue with LR (for info, link below).

http://www1.landregistry.gov.uk/propertypr...t_error_rep.asp

Sox

Edited by Bootsox
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lesson to readers - be incredibly selective about your illustrative data and you can say almost anything you like!

What example do you want me to use Si... this was the exact property that we were talking about? Do you want me to also mention that No. 12 Magellan also just recently sold for £127,000 and this was originally £24,000 cheaper than no. 37 back in '03!

Sox, I spoke to several different estate agents in Leeds at the time about this, including one at Morgans who dealt the sale, so i'm fairly certain it happened. I also at the time remember seeing it on the auction house website that you've linked.

Even if it is hypothetical (which I'm sure it isn't) the argument still stands...

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What example do you want me to use Si... this was the exact property that we were talking about? Do you want me to also mention that No. 12 Magellan also just recently sold for £127,000 and this was originally £24,000 cheaper than no. 37 back in '03!

Sox, I spoke to several different estate agents in Leeds at the time about this, including one at Morgans who dealt the sale, so i'm fairly certain it happened. I also at the time remember seeing it on the auction house website that you've linked.

Even if it is hypothetical (which I'm sure it isn't) the argument still stands...

no it doesn't - general vs selective. yawn.

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Oooh touchy!

lack the logical powers of a 14 yr old
Do you actually have a valid argument, or are you going to continue to make yourself look more and more stupid with bull [email protected] and very weak insults (I suspect from your lack of being able to articulate a valid response it's the latter). You obviously do care or you wouldn't by acting like a pre menstrual teen who’s loosing at checkers...
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Oooh touchy! Do you actually have a valid argument, or are you going to continue to make yourself look more and more stupid with bull [email protected] and very weak insults (I suspect from your lack of being able to articulate a valid response it's the latter). You obviously do care or you wouldn't by acting like a pre menstrual teen who’s loosing at checkers...

it's unsubtley hidden in my irony in my post dated Sep 10 2009, 12:21 AM

if you don't understand a simple statistical assertion then I really don't care

and saying you lack the logical powers of a 14 yr old was meant as an observation, sorry you took it as an insult.

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Do you actually have the capacity to substantiate your argument? Or are you simply trying to hide the fact that you don't have one!

Do you really think that you're intellect is so superior that I don't know what you're trying to insinuate... I just want to hear you say it!!

You’re not fooling anyone by talking about statistical assertions. If I wanted to I could do a collate a study and use Pearson Product Moment to signify my findings (which I doubt many 14 year olds could do) but that's not going to help this discussion.

Are you really that narrow minded and arrogant?

It was a very specific discussion we were having following my statement that 37 Magellan was a good investment at £98,000, to which I received a torrent of disagreement, including from yourself. I felt it was a very good investment at this level. Since then, I can't find any other 2 bed properties in this block that have sold for this level and it has now resold for £32,000 profit. The only other two bed sold recently in that block went for a similar amount and was of a lesser standard! That to me is a good investment. If you would like to present some alternative data then go ahead.

If you would like to change the subject and discuss other city centre properties then please feel free, but it was Magellan that was identified as a good opportunity, at this level.

Let me remind you what you said back in January

I think the timing is out tho - purchase prices, and rents (it is EASY gettign nice rental anywhere really for cheap price) have further to fall

If you feel you have anything else valid to add then say it… and stop being so ignorant.

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  • 2 weeks later...

You’re not fooling anyone by talking about statistical assertions. If I wanted to I could do a collate a study and use Pearson Product Moment to signify my findings (which I doubt many 14 year olds could do) but that's not going to help this discussion.

congratulations on being able to use excel or a specialist stats package to do a VERY simple test. I suspect that many 14 yr olds could indeed do this, and to boot demonstrate a better understanding of basic stats than you do in this thread. Ho hum.

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It's not about statistics you pr*ck!!!! It's about speculation. You don't have the mabels to vocalise independant thought so simply try to discredit mine by saying there's not enough statistical evidence (oh and juvenile name calling). I don't think the guy that just made a cool £32,000 on his property needs any more 'statistical evidence'. You've a sad [email protected] who obviously gets his only kicks from spending all his time on internet chat rooms and so pessimistic clearly shouldn't bother getting out of bed in the morning. I can't believe i've even given you this much time of day, if I new you I'd crack you one...

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It's not about statistics you pr*ck!!!! It's about speculation. You don't have the mabels to vocalise independant thought so simply try to discredit mine by saying there's not enough statistical evidence (oh and juvenile name calling). I don't think the guy that just made a cool £32,000 on his property needs any more 'statistical evidence'. You've a sad [email protected] who obviously gets his only kicks from spending all his time on internet chat rooms and so pessimistic clearly shouldn't bother getting out of bed in the morning. I can't believe i've even given you this much time of day, if I new you I'd crack you one...

I think it is worth repeating this nasty post to highlight the paucity of argument you have

I'll remind you that you were inferring the market was turning and we had missed a good general time to invest - based on a single succesful flip

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Guest X-QUORK

It's not about statistics you pr*ck!!!! It's about speculation. You don't have the mabels to vocalise independant thought so simply try to discredit mine by saying there's not enough statistical evidence (oh and juvenile name calling). I don't think the guy that just made a cool £32,000 on his property needs any more 'statistical evidence'. You've a sad [email protected] who obviously gets his only kicks from spending all his time on internet chat rooms and so pessimistic clearly shouldn't bother getting out of bed in the morning. I can't believe i've even given you this much time of day, if I new you I'd crack you one...

Why hasn't this tiresome ***** been given a troll avatar yet?

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Boom and bust

The buy-to-let boom and bust epitomises the rise and fall of the housing market in the last decade.

There is a chance that empty city-centre apartment blocks will be the legacy, not just economically but socially and architecturally too.

Jules Brown, planning co-ordinator for the North of England Civic Trust, says developments in cities such as Leeds and Newcastle might show that we have failed to learn from previous mistakes.

"They went up very quickly, and some of the decisions might be regarded in decades to come in the same way as we look at some of the blocks that blighted city centres in the 60s and 70s," he says.

"In a generation, we might ask what an earth were we doing."

Mr Brown says that the market will decide whether it will also be considered as a financial mistake as well. He says that prices will show if the "pile them high and sell them cheap" approach has led to an oversupply.

Quite.

http://news.bbc.co.uk/1/hi/business/8287828.stm

Edited by Bootsox
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I'll remind you that you were inferring the market was turning and we had missed a good general time to invest - based on a single successful flip

Sorry when did I infer that exactly? This is exactly my point and just proving that you are in fact a retard. I mealy hypothesised after a good amount of personal research that in a very unstable market especially for Leeds Town Centre properties, Magellan House was a good purchase opportunity if you could secure a property at or around the level that No 37 went for at auction. Which received the following counter arguments specifically regarding this sale-

Bootsox

Even at £98k though (assuming it is a buy to let), I can't see how you will get an adequate yield!

Sleepless

Been watching these myself - still further to fall IMO

Jimmy tenner

"absolute steal", ....Are you the Seller? Dream on...

Si1

I disagree, but I'm not certain!

Si1

I find it hard to see why you would take a punt here and now when there are more fluid opportunities in other markets with a greater immediate upside

S2r2005

it will be a much better investment when the price drops another 20% which is entirely possible

I made this assumption not by statistics but using common sense and gut instinct. The most recent sales of 2 beders in Magellan have gone for over £130,000, including the resale of that exact property for £32,000 more than originally bought, proving so far that my original assumptions were correct. If in future, this trend is not continued you're more than welcome to point it out, although i doubt very much I'll be around to listen because I'm very bored of this now.

Thanks X-Quork, you would say that because judging by the fact you haven't even been involved in this discussion and your total number of posts, you and Si are clearly cyber geek bum buddies!

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Sorry when did I infer that exactly?

....I think in my opinion you won't be seeing many more deals like this 98K around for such a good property. At the moment "everyone wants a repo" and people are savvy to the repo's and forced sales market, it's driving a better deal. It offers affordable housing to first time buyers, which should hopefully see an influx of more owner occupiers in city centre which again, can only be a good thing for the city centre market.

The important factor for me is how long can the private sales market remain stagnent? Pure economics denotes that an increase in affordable housing (albeit with the forced sales) will give the market a boost. Whether it will be enough to stimulate privates sellers again I don't know, but certainly with the booming rental markets the majority of owners will be more than happy to wait and see...

Thoughts dutifully welcome.

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  • 2 weeks later...

You're proved my point entirely...

the first paragraph was an accurate prediction about Magellan property, against all other opinion, as I've demonstrated. The second was a question (hence the ?) to stimulate discussion - not a statement. However, if I had made it a statement that you accuse me of (which i clearly didn't), i would have been right here anyway as the market does indeed appear to have picked up...

Thanks for proving me right!

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