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Realistbear

West Midlands Feeling Great Crash 2

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http://icbirmingham.icnetwork.co.uk/birmin...-name_page.html

Midland buyers drifting away
Aug 14 2007
New house buyer enquiries in the West Midlands fell at their fastest pace since October 2004 with the stock of unsold property increasing to the highest level since the start of the year, according to the latest survey.
Ben Hudson, RICS West Midlands spokesman and director at CB Richard Ellis, said: "Despite house prices in the region holding up, the combination of softening demand and supply is causing market conditions in the West Midlands to
weaken further
.

In my area it is not surprising its weakening even further as employment prospects are appalling following successive closures of local manufacturing and job cuts accross the board. When HP closed in Brum is really symbolised the beginning of the effective end of manufacturing in the W Midlands. Brown has done a real number on this region but I expect he will nevertheless be voted back in October 25th.

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Guest Yeahbutnocrash
http://icbirmingham.icnetwork.co.uk/birmin...-name_page.html
Midland buyers drifting away
Aug 14 2007
New house buyer enquiries in the West Midlands fell at their fastest pace since October 2004 with the stock of unsold property increasing to the highest level since the start of the year, according to the latest survey.
Ben Hudson, RICS West Midlands spokesman and director at CB Richard Ellis, said: "Despite house prices in the region holding up, the combination of softening demand and supply is causing market conditions in the West Midlands to
weaken further
.

In my area it is not surprising its weakening even further as employment prospects are appalling following successive closures of local manufacturing and job cuts accross the board. When HP closed in Brum is really symbolised the beginning of the effective end of manufacturing in the W Midlands. Brown has done a real number on this region but I expect he will nevertheless be voted back in October 25th.

Hmmm.. seems like a definite slow-down, maybe a bit early to be calling it GC2

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With the huge amount of empty overpriced new build apartments in Birmingham city centre, and the lack of young (immature) professionals (someone in a paid job) for developers to sell a dream to, I am not really suprised.

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Guest Yeahbutnocrash
With the huge amount of empty overpriced new build apartments in Birmingham city centre, and the lack of young (immature) professionals (someone in a paid job) for developers to sell a dream to, I am not really suprised.
I guess you could be right there :D

Though I expect Edgbaston is holding up ok..

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Though I expect Edgbaston is holding up ok..

When I was a lad in 1960 (yawn) The price of a new build luxury two bedroom flat at the bottom of Harborne Hill, Edgbaston was £1,999. Edgbaston then was very very posh unlike today when it is now only slightly posh. The average skilled wage was around £25 a week . A a skilled worker may, just may, have obtained a mortgage at 2.5 earnings over thirty years and made the final payment in 1990. The same flats today sell at around £250K. The average skilled worker today would need to find a loan at 10 times earnings to buy the 30 year old flat that is looking tired and tatty. In thirty years time the flats will have been demolished. No wonder buyers are holding back.

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http://icbirmingham.icnetwork.co.uk/birmin...-name_page.html
Midland buyers drifting away
Aug 14 2007
New house buyer enquiries in the West Midlands fell at their fastest pace since October 2004 with the stock of unsold property increasing to the highest level since the start of the year, according to the latest survey.
Ben Hudson, RICS West Midlands spokesman and director at CB Richard Ellis, said: "Despite house prices in the region holding up, the combination of softening demand and supply is causing market conditions in the West Midlands to
weaken further
.

In my area it is not surprising its weakening even further as employment prospects are appalling following successive closures of local manufacturing and job cuts accross the board. When HP closed in Brum is really symbolised the beginning of the effective end of manufacturing in the W Midlands. Brown has done a real number on this region but I expect he will nevertheless be voted back in October 25th.

But that can't be right, can it, cos as we all know (repeat mantra after me...) 'there is a housing shortage'! <_<

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With the huge amount of empty overpriced new build apartments in Birmingham city centre, and the lack of young (immature) professionals (someone in a paid job) for developers to sell a dream to, I am not really suprised.

I had a look in an estate agents window last week and nearly wet myself laughing. Someone was trying to rent out a flat in the new masshouse development for £825 pcm. :lol: Oh poor deluded fools. I've seen executive penthouses in Dickens Heath (which is actually a genuine prestige development just outside Solihull) going for £650.

The Masshouse and the like are the slums of tommorow. And don't get me started on the Orion building, total White Elephant. Took about 6 years to build and looks like a sack o' 5hite.

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I had a look in an estate agents window last week and nearly wet myself laughing. Someone was trying to rent out a flat in the new masshouse development for £825 pcm. :lol: Oh poor deluded fools. I've seen executive penthouses in Dickens Heath (which is actually a genuine prestige development just outside Solihull) going for £650.

The Masshouse and the like are the slums of tommorow. And don't get me started on the Orion building, total White Elephant. Took about 6 years to build and looks like a sack o' 5hite.

In twenty years time developers will be turning these derelict buildings into office blocks :lol::lol:

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When I was a lad in 1960 (yawn) The price of a new build luxury two bedroom flat at the bottom of Harborne Hill, Edgbaston was £1,999. Edgbaston then was very very posh unlike today when it is now only slightly posh. The average skilled wage was around £25 a week . A a skilled worker may, just may, have obtained a mortgage at 2.5 earnings over thirty years and made the final payment in 1990. The same flats today sell at around £250K. The average skilled worker today would need to find a loan at 10 times earnings to buy the 30 year old flat that is looking tired and tatty. In thirty years time the flats will have been demolished. No wonder buyers are holding back.

Yawn! So should this site be renamed flatpricecrash, as the apartment market seems to be beating the house market in the race to the bottom. :P

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I've seen executive penthouses in Dickens Heath (which is actually a genuine prestige development just outside Solihull) going for £650.

:blink: It's Stepford. If I lived there I would want to top myself after a week.

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:blink: It's Stepford. If I lived there I would want to top myself after a week.

:lol::lol:

Well Stepford was a prestige development aswell. I wouldn't make any claims about the character of the place. It is very toytown, although in 50-100 years it will probably have grown a bit of character, you can't just build a new village and expect it to be nice overnight.

Original point still stands though: £650pcm for a flat (sorry apartment) in DH and £825 in the masshouse? somebodies having a giraffe.

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:lol::lol:

Well Stepford was a prestige development aswell. I wouldn't make any claims about the character of the place. It is very toytown, although in 50-100 years it will probably have grown a bit of character, you can't just build a new village and expect it to be nice overnight.

Original point still stands though: £650pcm for a flat (sorry apartment) in DH and £825 in the masshouse? somebodies having a giraffe.

Is that where the "Stepford Wives" come from? :lol:

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You can't bead £825/mo to be part of this horror:

9077_P1116_IMG_01.jpg

They're on sale at comedy prices as well, easily rivalling good quality houses just a mile or two away.

This looks like London Road N-U-L - if it isn't there's another build looks exactly the same - always think of it as the lego building! It's also got massive cracks in the render and while I'm having a moan who would buy a flat with a fake balcony? Why can't we have real ones like folk in Europe?

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With the huge amount of empty overpriced new build apartments in Birmingham city centre, and the lack of young (immature) professionals (someone in a paid job) for developers to sell a dream to, I am not really suprised.

That is very funny.

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It certainly is London Road ;)

Me & the missus call it "Filthy Towers" 'cos it's already coated in traffic film. The ones closes to the road are hilarious - even the real balconies must be unusable.

I noticed some scaffolding on it the other day...

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You can't bead £825/mo to be part of this horror:

9077_P1116_IMG_01.jpg

They're on sale at comedy prices as well, easily rivalling good quality houses just a mile or two away.

Thats as expensive as London, if you are prepared to live out East (I'm thinking Royal Docks and beyond). Madness!

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What a blatantly misleading photo :angry:

Be quite nice for about £80 p/w :lol:

I suspect these come "furnished" so you have to put up with the landlords sh*t choice of furnishings.

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What a blatantly misleading photo :angry:

I'll show you misleading:

This is a picture of the masshouse development on rightmove:

35756_Masshouse2Bed_IMG_01.jpg

Only, actually it doesn't look like that. As only phase one is completed, which looks like this:

35756_Masshouse2Bed_IMG_06.jpg

The ground hasn't even been cleared for phases 2 and 3 yet.

Here's the blurb:

New horizons beckon for those choosing to live at Masshouse. On the doorstep of the £500m Bullring shopping centre and the city’s booming retail core, this exciting landmark scheme is continuing central Birmingham’s ambitious expansion to the East, whilst creating a new era for city living. For those working in the traditional professional quarter, Colmore Row is only a few minutes walk away, so journeys by car, train and bus become non-essential in a new lifestyle. And, further contributing to the city’s leisure scene, select on-site bars and restaurants will add to the eclectic choice already available in Birmingham. Ultimately bringing over 1000 new residents, 4,000 office workers and a highly attractive public realm to this revived part of the city, Masshouse is leading the way in creating a new community at Eastside. This pacesetting, quality development is the next chapter in Birmingham’s future.

If you have other questions about this property, please telephone 0845 337 4031 (BT 4p/min).

Translation:

People living here will have to look out to the horizon to see anything remotely nice. It's on a traffic island in the middle of brum criss-crossed by main roads. This is the first residential building on the eastsisde of birmingham for years, and as such you're surrounded by delapidated buildings. If you work in a bank or insurance company call-centre you can risk life and limb everyday crossing the road to get into work. And there's no parking. Phases two and three will bring in pubs, clubs and offices so it will be good if you never really liked sleeping anyway.

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Been watching the whole Masshouse development for a while now as I guess this is replicated across the nation. Either there is a complete shift going on within this country's psyche and living en-masse in the centre of towns, in TOWER BLOCKS, is suddenly attractive or they've been marketed very very well.

Somone somewhere must know someone who lives in these things? Are they happy, guess that's all that counts really but i cannot see how cramped living conditions in a tower stuffed full of people can be a recipe for anything other than misery. While you or I dislike them it would seem plenty of people are buying them. There is only one place left to buy in phase one. Rather than buying that pokey two bed flat on the tenth floor imagine what you could buy with the 220K elsewhere.

Phase two's 163 'luxury' gaffs hit the market between now and spring. Studio's can be snapped up for a mere 125K.....but that's for the less trapped inhabitants. The more trapped you become the more you pay, top studio's will be 135K which will include the best views of Eastern Birmingham, which lets not forget could include the delights of........the Saltly Viaduct, Birmingham City Football Ground, and if you are really fortunate the pink and green glow of Star City as it bounces light offensively off the gas towers nearby.

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My god that's shit :o

My GF rents a 2 bedroom house with front and back garden in a nice area close to the lake district for £310 a month :lol:

Yes but this is boom town Birmingham!.... oh right yes, take your point :blink:

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