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Anyone Form The Birmingham Area...or Near To It?


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I've started a thread in the HOUSE PRICES IN YOUR AREA section for a friend who's maybe re-locating there and I wanted anyone from that area to give your thoughts on how things are fairing there. I realise this maybe isn't the right forum to post this but I just want to help the lad avoid making a huge financial mistake...all comments in that BRUM thread would be very appreciated ;)

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Great choice of location,I'll have yo know Birmingham and the Black Country is luv'lee.

A few recommended locations....Smethwick,Erdington ,Handsworth and Bloxwich Spa.Well if Droitwich can do it ,I reckon Bloxwich has a good case.

Edited by crashmonitor
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Not quite Birmingham but speaking about the Midlands in general, I've just moved to Bridgnorth (Shropshire) from a particularly afluent part of Hampshire.

First impressions housing-wise are that, whilst it initially appears a lot cheaper to rent compared to the South (i'm renting a nice 4-bed detached for £850pm, it would be at least £1500pm 'back home'), when buying I believe it is in fact even more over-priced than the SE relative to local wages. I seem to recall in a recent average-prices-to-local-wages chart this particular area was right at the top with >11x - it's absolute madness.

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Not quite Birmingham but speaking about the Midlands in general, I've just moved to Bridgnorth (Shropshire) from a particularly afluent part of Hampshire.

First impressions housing-wise are that, whilst it initially appears a lot cheaper to rent compared to the South (i'm renting a nice 4-bed detached for £850pm, it would be at least £1500pm 'back home'), when buying I believe it is in fact even more over-priced than the SE relative to local wages. I seem to recall in a recent average-prices-to-local-wages chart this particular area was right at the top with >11x - it's absolute madness.

Look to the North West and the Black Country and the Chase for the cheaper houses especially the Walsall area.Should pay for the commute.

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Not quite Birmingham but speaking about the Midlands in general, I've just moved to Bridgnorth (Shropshire) from a particularly afluent part of Hampshire.

First impressions housing-wise are that, whilst it initially appears a lot cheaper to rent compared to the South (i'm renting a nice 4-bed detached for £850pm, it would be at least £1500pm 'back home'), when buying I believe it is in fact even more over-priced than the SE relative to local wages. I seem to recall in a recent average-prices-to-local-wages chart this particular area was right at the top with >11x - it's absolute madness.

I'm just over the (county) border from you and things in the nicer bits of Staffordshire are much the same. The village where I live has a dearth of rental and sale property, houses are highly overpriced and rental prices are being pushed up hard. The problem is it's such a nice place to live - lots of pubs and eateries considering the size of the place.

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I'm just over the (county) border from you and things in the nicer bits of Staffordshire are much the same. The village where I live has a dearth of rental and sale property, houses are highly overpriced and rental prices are being pushed up hard. The problem is it's such a nice place to live - lots of pubs and eateries considering the size of the place.

I assume we are talking Litchfield and not the Chase.

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no, literally just over the border from shropshire in a little place called Eccleshall. Not too keen on chase myself. Funny accents and all that! :lol:

Should have read your post more thoroughly I was under the impression we were talking the Birmingham/Staffs border.Don't know why I am getting involved anyway,I live miles away in the East Midlands. :ph34r:

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I've started a thread in the HOUSE PRICES IN YOUR AREA section for a friend who's maybe re-locating there and I wanted anyone from that area to give your thoughts on how things are fairing there. I realise this maybe isn't the right forum to post this but I just want to help the lad avoid making a huge financial mistake...all comments in that BRUM thread would be very appreciated ;)

My parents STR October 06 in Sutton Coldfield and are currently renting an in Four Oaks as they couldn't decided when to buy. Recently Mums turned into a HPC convert.

They thinking of moving to another rented house soon and in looking they have spoken to a local Buy-to-letter. He said he was doing OK but he had reported that large house i.e £1m had dropped 20% in the area in the last 2 years. He also said that a number of buy-to-letters in the area were so deep in debt that they can't sleep at night.

I laughed my head off when I heard this on the phone last night. The thought that buy-to-letters are so racked with stress they can't sleep at night gives me a warm cosy fussy feeling inside just before I go into a deep sleep.

Edited by Oxfordite
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I've started a thread in the HOUSE PRICES IN YOUR AREA section for a friend who's maybe re-locating there and I wanted anyone from that area to give your thoughts on how things are fairing there. I realise this maybe isn't the right forum to post this but I just want to help the lad avoid making a huge financial mistake...all comments in that BRUM thread would be very appreciated ;)

Choose Cannock and its surrounding areas... Excellent value for money !!

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I'm in Four Oaks - and the local Sutton Coldfield Observer is giving the poor paper boys some serious back trouble - the property section is MASSIVE, seriously thick, almost every page has a little red banner with any number of EA ways of saying 'reduced'.

In my parents old road I noticed a property just sold, it was up for 520k 6mths or so ago, but ourproperty.co.uk states that it sold recently for 480 (IIRC). So remember to put in low offers (if you have to buy)!

Back OT - Sutton Coldfield, esp. Four Oaks is a nice place - excellent train links to B'ham city centre etc.

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Should have read your post more thoroughly I was under the impression we were talking the Birmingham/Staffs border.Don't know why I am getting involved anyway,I live miles away in the East Midlands. :ph34r:

cor it's so cheap over there you folks don't know your born, I've heard they're going to be giving away flats with boxes of cornflakes!!

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It's funny isn't it ?

I keep telling my mates from the South that house prices around me have been (at best) static for two years or more and they just look at you blankly.

Buckers

This is so true - your average 2 bed flat in SC £130-140k - it's been like this for years.

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The West Midlands is, according to the Land Registry, the worst performing area in the country. The market here is as dead as a doornail.

Yeah it's dead in sales terms near us to, the local estate agent was moaning about it when he was showing me round a rental (he said that rentals were red hot though - can't decide if that was just a line but prices are definitely going up). Sale prices aren't falling though, it's just sitting stagnating.

edit - for clarity

Edited by Sceptacled Bear
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Many people I know would list the following areas as being fairly decent in B'ham:

Kings Heath

Moseley

Bournville

Harborne

Bearwood

All are vastly overpriced and not much is selling. There is great deal of invisible price reducing going on. At the £250k level price reductions are usually between £10k to £25k ...... and they are still not selling. If you are going to put an offer in I would forget the traditional 10% below asking price and start at least 20% below. There have been huge job losses in and around B'ham over the last few years and massive over-building of city centre flats. Last week the TV news included an item about BTL'ers selling city centre flats at £50k and £40k below the price they paid a couple years ago ......... and this is only the start of the house price bust!!!!

I would wait at least a couple years and you will get a much bigger property in a much better area for your money.

Up until the start of the summer you could not mention the possibility of house prices going down but it has now moreorless become the 'common sensical' view (at work, in the pub, etc.) about the property market here in B'ham and indeed the UK. There are of course some diehards around but even they can only muster up arguements that we will have stagnation rather than price falls. However as people say above - we have had the period of stagnation for ages and have moved into the 'invisible' price reduction phase which I suspect come post Xmas will move into the 'visible' price reduction phase of the bust.

The same picture, re not selling and price reductions can be found in Worcester, Bromsgrove, Kidderminster, Stourbridge and Droitwich Spa.

Bearwood has been targeted by people over the boom as they could not afford Harborne. I suspect that Bearwood will see some of the most dramatic falls as it has seen some of the most dramatic rises.

Edited by Alfie Moon
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Anyone else have problems with property snake?

Very often (including the apartment mentioned in the original post) the links don't work or if they do the numbers on the actual advert don't match those on the PS website.

Seems Birmingham is on the edge of a cliff sentiment wise. Especially city centre apartments.

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Many people I know would list the following areas as being fairly decent in B'ham:

Kings Heath

Moseley

Bournville

Harborne

Bearwood

All are vastly overpriced and not much is selling. There is great deal of invisible price reducing going on. At the £250k level price reductions are usually between £10k to £25k ...... and they are still not selling. If you are going to put an offer in I would forget the traditional 10% below asking price and start at least 20% below. There have been huge job losses in and around B'ham over the last few years and massive over-building of city centre flats. Last week the TV news included an item about BTL'ers selling city centre flats at £50k and £40k below the price they paid a couple years ago ......... and this is only the start of the house price bust!!!!

I would wait at least a couple years and you will get a much bigger property in a much better area for your money.

Up until the start of the summer you could not mention the possibility of house prices going down but it has now moreorless become the 'common sensical' view (at work, in the pub, etc.) about the property market here in B'ham and indeed the UK. There are of course some diehards around but even they can muster up arguements that we will have stagnation rather than price falls.

Bearwood has been targeted by people over the boom as they could not afford Harbourne. I suspect that Bearwood will see some of the most dramatic falls as it has seen some of the most dramatic rises.

All the above is 100% correct. Well done Alfie

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Not quite Birmingham but speaking about the Midlands in general, I've just moved to Bridgnorth (Shropshire) from a particularly afluent part of Hampshire.

If you drive from Bridgnorth to Wolverhampton you will be amazed at how nice the western suburbs are by the ridge (the first thing you hit when you travel down the Bridgnorth Road) – thanks to all those rich industrialists! Just don't bother to visit the town centre! ;)

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colleague of mine has been trying to sell his house in Stafford to rent in Brum city centre as he thinks the back side is about to fall out of property prices.

In my line of work I meet many people with interesting views. One surveyor not so long ago told me that most of his work is now recovery work and the banks he works for are cr*pping themselves but still don't want to admit it.

I met recently with George osborne and Deirdre Alden (conservative party spokes person for Birmingham Edgbaston Community) to discuss opposition to the CGT changes. Deidre seemed to take a very dim view of further house price increases and George kind of gave his position away without saying too much. I mentioned that BTL is a social disaster and any further tax breaks to BTL investors would be counter productive for the economy - he didn't disagree.

I know a number of Birmingham based BTL investors (some of whom I have been discussing this with for 12 months). Sentiment there is changing rapidly. Everyone thinks that city centre "executive" apartments are basically toxic junk and many will lose their shirts there. Still get the same old "in it for the long term" and "demand vs supply" arguments for outside city centre investments.

Birmingham will go pop in a big way.

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colleague of mine has been trying to sell his house in Stafford to rent in Brum city centre as he thinks the back side is about to fall out of property prices.

In my line of work I meet many people with interesting views. One surveyor not so long ago told me that most of his work is now recovery work and the banks he works for are cr*pping themselves but still don't want to admit it.

I met recently with George osborne and Deirdre Alden (conservative party spokes person for Birmingham Edgbaston Community) to discuss opposition to the CGT changes. Deidre seemed to take a very dim view of further house price increases and George kind of gave his position away without saying too much. I mentioned that BTL is a social disaster and any further tax breaks to BTL investors would be counter productive for the economy - he didn't disagree.

I know a number of Birmingham based BTL investors (some of whom I have been discussing this with for 12 months). Sentiment there is changing rapidly. Everyone thinks that city centre "executive" apartments are basically toxic junk and many will lose their shirts there. Still get the same old "in it for the long term" and "demand vs supply" arguments for outside city centre investments.

Birmingham will go pop in a big way.

Colleague of mine is also trying to sell in Stafford. 10k reduction and still not an offer in 6 months!

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Not quite Birmingham but speaking about the Midlands in general, I've just moved to Bridgnorth (Shropshire) from a particularly afluent part of Hampshire.

First impressions housing-wise are that, whilst it initially appears a lot cheaper to rent compared to the South (i'm renting a nice 4-bed detached for £850pm, it would be at least £1500pm 'back home'), when buying I believe it is in fact even more over-priced than the SE relative to local wages. I seem to recall in a recent average-prices-to-local-wages chart this particular area was right at the top with >11x - it's absolute madness.

I am not far from there and have to agree, prices, especially for near the bottom of the ladder are way too high compared to surrounding areas. I dont understand why so much when you dont have great transport links round there.

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I know a number of Birmingham based BTL investors (some of whom I have been discussing this with for 12 months). Sentiment there is changing rapidly. Everyone thinks that city centre "executive" apartments are basically toxic junk and many will lose their shirts there. Still get the same old "in it for the long term" and "demand vs supply" arguments for outside city centre investments.

Birmingham will go pop in a big way.

My cousins boyfriend sold his at a loss about 18 months ago. He said if he didn't sell then, he would have lost more.

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I'm further over in North Herefordshire and it's exactly as you say - I'm paying £775 pm for a 4 bedroom cottage in 1 acre ! To buy this would cost £400K+ !

Total disconnect between prices and the local economy.

Buckers

I would say your example is a perfect example of why the property market is so mental right now. People pay rent from income (normally, unless you're STRed a huge sum) but buy houses from income and savings. So people only pay what they can afford for rent from their monthly income, hence rent is not keeping up with house prices.

People also get unnaturally attached to owning their "home" and so are prepared often to pay ridiculous amounts to buy their perfect home. It gives them security of tenure which AST doesn't. The besdt thing any government now could do is change the AST law to give at least 24 months secured tenure. That way these "I'm in it for the long term" landlords will be sure to have regular income streams.

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Many people I know would list the following areas as being fairly decent in B'ham:

Kings Heath

Moseley

Bournville

Harborne

Bearwood

Agreed, Alfie :) I live in Moseley in a lovely rented terrace for about 1/3 of what it would cost me to buy. It's a very nice place to live indeed. Highly recommended.

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