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Channel 5 Prog - Liverpool

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Caught the tail end of some property show on Channel 5 this morning.

I think it was imaginatively called "How to be a property developer"

It was based in Liverpool and "Starred" the two women who bought a doer-upper semi for £125K, blew £46K on renovations, then couldn't sell it on at all.

I dunno what area it was in.

The property went onto auction, didn't meet its reserve price of £130K.

But they "luckily" got an offer of £134K after the proceedings.

Tears ensued.

But the presenter actually said "The housing market in Liverpool HAS crashed" (!!!!!!)

Did anyone else see this, or did I dream it? - Also can anyone from Liverpool confirm his bold statement.

http://www.mydigiguide.com/dgx/wbl.dll?a=6...9&PID=19894

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Yep, I saw it.... The bloke definately said the "C" word too...

Sort of feel sorry for the two women, they had good intentions but had the business acumen of children. Let their hearts rule their heads, they were advised not to buy the place originally. Same for the other two muppets who bought a bedsit somewhere, just HAD to become landlords/Prop' Developers....

Bring on the crash!

Frank

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How exactly does one "develop" a bedsit? :rolleyes:

With a lot of cheek. One of the last sub 100k properties in Bath went for 90k in November, got a new kitchen and went back on the market for 135k (!!!) in February. It's got no bedrooms, on the noisiest road in the city and is opposite a murder scene. Class.

Dave

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Caught the tail end of some property show on Channel 5 this morning.

I think it was imaginatively called "How to be a property developer"

It was based in Liverpool and "Starred" the two women who bought a doer-upper semi for £125K, blew £46K on renovations, then couldn't sell it on at all.

I dunno what area it was in.

The property went onto auction, didn't meet its reserve price of £130K.

But they "luckily" got an offer of £134K after the proceedings.

Tears ensued.

But the presenter actually said "The housing market in Liverpool HAS crashed" (!!!!!!)

Did anyone else see this, or did I dream it? - Also can anyone from Liverpool confirm his bold statement.

http://www.mydigiguide.com/dgx/wbl.dll?a=6...9&PID=19894

blimey - I looked up that tv guide link and got the following:

Franny's Feet (Animation)

Time - 06:25 - 06:35 (10 minutes long)

When - Thursday 19th July on five

Whiz Kid.

Children's animation. Franny helps a young girl learn how to ice skate.

(Repeat, Subtitles)

has the l'pool market crashed so hard it's even ended property porn? it's like the bermudan triangle out there...

(I'm thinking this was a repeated show:

http://www.housepricecrash.co.uk/forum/ind...showtopic=22011

)

Edited by Si1

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Hey!

The market in Liverpool is still alive unfortunately, they're still asking ridiculous prices for crack houses in Kensington, £80K will get you a boarded up bondy in Smack City at best. Just waiting for the 2008 Capital of Vultures to end and the **** to fall out of all these "Luxury Apartments", sorry High Rise Flats that are being built. Such massive oversupply as all the out of town money comes up here to try and make a quick buck...A guy I work with has a £100K mortgage on a 1 bedroom Penthouse above a Hair Salon in the City Centre in addition to the £180K deposit he put down for it...madness!

And they're still building them, they're gonna end up being populated by Single Parent Families on Benefits and Smack Heads after 2008 as developers try to get some of their outlay back by selling them on to the local Council who'll put anyone in there above and below the Young Professionals they're aimed at...21st Century Ghetto here we come!

msp

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that's approx. 14 months since its first viewing, auctions have died in Liverpool, the last 3 or 4 I've been to have been odd. Mates of mine (v. experienced) stating it's similar to 10 years ago, but no point in buying at these levels as no easy profit. Rest of market saturated and stagnant. Now entering a period of 'denial' IMHO, the empty flat units in the city centre is of scary, biblical proportions. Still one or two huge developments to be finished, which will simply add to the pain. L'pool is a v. good window on the rest of the UK market.

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The property market in Liverpool has not crashed, but in some parts the wheels are wobbling. South suburbs still mental but more simmer than boil these days. North and central crack palaces still going 'cheap' but I wouldn't pay more than 4k for one myself unless I was criminally insane. Think the people on the tv prog mentioned are off their nut but that's the way of it these days. Post 2008 look for the 'pool to stagnate then dive-bomb. That's just my view.

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