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gruffydd

The Whole Market Is Over-valued - Chartered Surveyor

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http://business.guardian.co.uk/story/0,,2184157,00.html

'The whole market is over-valued'

Angela Balakrishnan and Antoinette Odoi

Friday October 5, 2007

The Guardian

Paul Airey, a chartered surveyor in Sunderland, says the property market has been over-valued for a long time and there will be more big falls in house prices to come in the north-east.

"There is definite cooling, I think the market is over. There are fragmented markets with certain bubbles which are starting to pop. Prices have already fallen by about 2-3% in the last quarter and I think they will fall by another 5-8% before the year end as soon as the realisation sets in with vendors that they are going to have to decrease their prices to get a sale. By Christmas vendors will see that they have to be more realistic

Edited by gruffydd

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Stop Press: Pope is a Catholic, says Chartered Surveyor.

:lol:

I was in Sunderland for a meeting the other day and I wouldn't give you 10 pence for the whole place, what a shite hole. People were nice, though.

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Stop Press: Pope is a Catholic, says Chartered Surveyor.

:lol:

I was in Sunderland for a meeting the other day and I wouldn't give you 10 pence for the whole place, what a shite hole. People were nice, though.

I bet you would!!! :P

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I bet you would!!! :P

Perhaps, but there are estates there that just reek of shit. It's weird because I've never figured out how it's possibe for a whole area to stink so bad.

Edited by BoomBoom

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I really wouldn't. I drove through the outskirts and up to the Univ. Whole place was one big Council estate. Grim....and I used to live in Stoke on Trent (therefore am an expert on grim places).

N.B. I drove through quite a nice village on the way there (about 10-15 miles outside Sunderland), just checked it out on Rightmove - 2 bed terrace £180k, 2 bed flat £200k. Madness.

Edited by Mancghirl

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I really wouldn't. I drove through the outskirts and up to the Univ. Whole place was one big Council estate. Grim....and I used to live in Stoke on Trent (therefore am an expert on grim places).

N.B. I drove through quite a nice village on the way there (about 10-15 miles outside Sunderland), just checked it out on Rightmove - 2 bed terrace £180k, 2 bed flat £200k. Madness.

Stoke is indeed grim. I once saw houses for sale there in 1999 for £5000. That's five thousand.

"D'ya warnt aarse een ya ceoooke duk?" As they say up there.

Edited by 29929BlackTuesday

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Can I 'ave a lewk in yer cewk bewk?

Yeah, £5k houses were not uncommon as late as 2000. Those days are gone - but realistically that is all they are worth. No industry, no jobs, no middle class to speak of. Nice folk but hellish place.

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