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Liverpool


EDDIE

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HOLA441

Not that im looking to get a city centre flat i do use these flats across to the arch in chinatown liverpool as a guide. Theres always been one or two up for sale during the last 2-3 years, always on for 140-150k. This has appeared recently and is very telling

http://www.rightmove.co.uk/viewdetails-195...=1&tr_t=buy

"Bulk purchase opportunity available comprising 30 apartments. The development is located in a very popular city centre location central to the Ropewalks Area, Georgian quarter and Chinatown." on for £4million.... still overpriced at 133k each.

Jon

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HOLA442
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HOLA443
i believe once 2008 has gone property prices will drop. looking to buy not yet, will wait a few years and save a greater deposit. Know someone in Liverpool bought a few flats, was told hen would make a profit when sold. In fact, has sold them with a loss of £5000 each. did think of renting them, but the rent he would receive was not enough to cover the mortgage payments. Also, lots of property to rent in Liverpool, but the rents are to high, most people only earn about £15000 a year.

Hi Eddie,

According to www.MousePrice.com, the average salary in Liverpool is (or was) £20,857, and the average house price to earnings was about 6.5x (compared to a national average of £24.5k and 9.0x. BUT I don't know what date these numbers were compiled on. May have been 2006.

http://www.mouseprice.net/AreaGuide/Price_...mp;PostCode=L15

Is your £15k average salary a rough guess, or does it come from a better / more up-to-date source?

If the mouseprice data is correct and current (-ish), then the lower price-earnings ratio may mean that Liverpool has less far to fall than other parts of the UK, in order to correct.

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HOLA444

The massive influx of low skilled immigration into the city is being citied as one of the key reasons why rents will remain high and property prices will not come down by groups like Liverpool Macroeconomics. Peter Stoney, honorary senior fellow in economics at the University of Liverpool, and a member of the forecasting group, Liverpool Macroeconomics, is saying that the Liverpool One development (a giant retail area) is thus only going to boom.

lol! Well what is clear to me is that Macro-Economically, this country will now start to save, either through evils like milk spiralling up reaching the £2 mark and reducing real incomes, or higher interest rates.

And that means this sort of retail development will face very large negative headwinds going forwards.

But the biggest headwind is due to the mass immigration being dumped on the city from on high as some sort of out the box 'solution' to instant economic growth.

Massive numbers of low earning, low skilled workers though liberal immigration policies coupled with massive dependant chain migration is an economic disaster. The same experiance in the 1970s of the near same policies to lower wages in many US cities like New York, L.A etc... soon turned into rocketing bills and desperation - unemployment and vile crimewaves lasting over a generation (Murder capitals etc... well into the late 1980s). With mismatched labour markets and grinding inflation.

Edited by brainclamp
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HOLA445

Liverpool didn't do too badly in the last recession compared to the rest of the country. One of Maggies quietest U-turns was her declaring war on the black economy. No sooner said than forgotten. At the time an accountant for M&S said that there wasn't enough wage packets in Liverpool to keep their main store open but it was thriving. I earned good money driving a taxi during those times and there was no shortage of taxi drivers unless you were trying to get home at the weekend after clubbing. Are you really going to bet against a city that has seen plenty of hard times and already knows how to cope? (I don't mean those in charge but those at the bottom or close to it.)

There are some new builds on Fern Grove, asking £75k for a half share, no chance. 2 up 2 down terraces on adjacent streets were advertised in shop windows on Lodge Lane for ~£5k in 2000.

afaik, all the BTL LLs here had plenty of voids apart from DHSS tenants. They'd be in for 6 months then bought their own place. I can't see how leveraged BTL can ever be sustainable, DHSS aside, they are only doing what their tenants can also do and if the loans are available and cheap enough then that is exactly what the 'soon to be ex' tenants did.

The 'city of culture 2008' is a damp squib, no buzz at all, total non event.

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HOLA446
Liverpool didn't do too badly in the last recession compared to the rest of the country. One of Maggies quietest U-turns was her declaring war on the black economy. No sooner said than forgotten. At the time an accountant for M&S said that there wasn't enough wage packets in Liverpool to keep their main store open but it was thriving. I earned good money driving a taxi during those times and there was no shortage of taxi drivers unless you were trying to get home at the weekend after clubbing. Are you really going to bet against a city that has seen plenty of hard times and already knows how to cope? (I don't mean those in charge but those at the bottom or close to it.)

There are some new builds on Fern Grove, asking £75k for a half share, no chance. 2 up 2 down terraces on adjacent streets were advertised in shop windows on Lodge Lane for ~£5k in 2000.

afaik, all the BTL LLs here had plenty of voids apart from DHSS tenants. They'd be in for 6 months then bought their own place. I can't see how leveraged BTL can ever be sustainable, DHSS aside, they are only doing what their tenants can also do and if the loans are available and cheap enough then that is exactly what the 'soon to be ex' tenants did.

The 'city of culture 2008' is a damp squib, no buzz at all, total non event.

Plenty of DSS here - just look at this always wondered why I feel like I'm one of the few that actually works

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HOLA447

I know 2 civil servants and a woman that invents data for the city council. Between them I doubt they do 20 hours a week of useful and necessary work but pull 3 decent salaries.

We give half of the unemployed similar 'not really needed' jobs and life becomes wonderful because unemployment has dropped by 50%

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HOLA448

I have just seen that the house I bought for £1, 750 in 1973 is now for sale at £86,000. A two bed terrace in Birkenhead. Great views of the Liverpool waterfront beyond Birkenhead's gasometer. I was glad to move despite having grown up thereabouts and nothing done to the area has enhanced it by a factor to match the change in house prices. Liverpool is sadly still a basket case for employment. The mismanagement of the Capital of Culture is a scandal I believe and yet the Chairman of the Culture Company, Drummond Bone of the University of Liverpool got a Knighthood. He was originally parachuted in to sort out the University's responsibilities for the Alder Hey affair. Since then the University has slid down the ratings. That to my mind, encapsulates Liverpool's problems. Outsiders with London perspectives go in full of overblown ideas but without the means to make a real difference. So Liverpool has wound up with a lot of irrelevent housing and no real employment opportunities. Gerald Westminster's big development is doomed, overpriced flats and shops no-one will have the means to shop in.

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HOLA449

You only have to look at the Lowry centre in Salford. Big names are enticed to set up 'flagship' stores. The same situation (more staff than customers) has meant that stores open up, do their sums, then close as soon as the lease is up, at a heavy loss. It's a costly White Elephant.

Good news if you hate crowds.

The Government announced it was moving many dapartments out of London to cut costs. If they, or other orgs like the BBC (relocating to Salford Quays) had been attracted to Liverpool, it would have provided long term, sustainable employment and growth and the city would continue to prosper well into the future.

Instead it's looking bleak when all of the temporary workers and tourists move on.

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HOLA4410

I have been investing in liverpool for the last 4 years or so.

Student areas will hold their value more or less due to good investor demand - its areas like Bootle and Anfield that will be hit the hardest.

Flats will be hammered, too - I am glad I never invested in apartments here.

Fortunately the interest rates mean my properties are giving me a good cashflow (about 4.5k a month) so I will keep renting out until house prices climb out of the hole.

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HOLA4411
I have been investing in liverpool for the last 4 years or so.

Student areas will hold their value more or less due to good investor demand - its areas like Bootle and Anfield that will be hit the hardest.

Flats will be hammered, too - I am glad I never invested in apartments here.

Fortunately the interest rates mean my properties are giving me a good cashflow (about 4.5k a month) so I will keep renting out until house prices climb out of the hole.

If it's all so good for you why do you feel the need to look at HPC.co.uk and also try to tell us your 'success' stories?

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HOLA4412
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HOLA4414

Flat number 31 in this soulless development that looks like something out of stalinist russia:

12199_995104_IMG_01_0004.jpg

Last sold in 2005 for £181,950

http://www.houseprices.co.uk/e.php?q=31+l1+5bs&n=100

Put on market last year for £124,995

Reduced to 119, 114, 99, 84, 79, and now £77,500 - over 57% crash in value since 2005. Still no takers :lol:

http://www.rightmove.co.uk/property-for-sa...y-10157493.html

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HOLA4415

There is a wide spectrum of prices in Liverpool.

A desirable 4 bed detached house in L18 or L25 (Woolton) has only dropped about 12% since 2007 and still fetches £400-600K, whereas most apartments have dropped considerably in price.

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HOLA4416

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