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70% Price Reductions In Nottingham


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Not an area that I know much about, but I came across a number of houses down one street that are up for auction with guide prices of £75k.

http://www.globrix.com/buy/ng7%204bj?ns=tr...&qt=ng7+4bj

http://www.rightmove.co.uk/viewdetails-169...=4&tr_t=buy

http://www.rightmove.co.uk/viewdetails-169...=4&tr_t=buy

Admittedly these may be artificially low, in order to tempt potential buyers, but a search on Rightmove etc shows similar for sale with prices of not much more (around the 90k mark)

Nethouseprices gives the previous sale prices for this street (including the two Rightmove properties from above) all at £250k (Oct/Nov 2005):

http://www.nethouseprices.com/index.php?co...mp;pcsaCode=NG7

Fascinating stuff.

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That also a new build. 6 bedrooms, 2 bathrooms, 2 receptions, GATED SECURE ENTRY and its very close to Nottingham Islamia school. Others on the street say 'A great investment and letting opportunity. It comes to the market with no upward chain'

The whole street looks empty, I wonder what will become of it in the next few years, housing association? Six bedroomed gated housing seems purpose built for the current generation of council house tenants. A good duel use property by the building firm in a boom its perfect for a buy to let empire and then when the bust comes along the housing associations can take over and fill the street full of chavs.

Good find Lee Harvey

Edited by enrieb
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If a property like that is potentially going to go for anything even close to that amount in Nottingham, it's over. I think all of us who said this sort of property would become social housing were right. The crap new build flats that are all over Nottingham (and are not exactly full to the brim with tennants) are going to be changing hands at circa <20k a pop, if anyone other than local authorities would consider buying them - which is highly unlikely.

**Edit**

Yes, I know it's Radford but property in the Meadows and Clifton has been over 100k k for some time now, so Radford must have been the same?

Edited by Mrliberty
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After living there for less than a year (inc 6 months in The Park, darling) I can confirm it will be the epicentre of the crash.

I have never been in a city with such a staggeringly inflated opinion of itself. Where else could the city centre square be redeveloped at massive expense and over a ludicrous timescale to be a big concrete slab?

On the plus side, it has a Flannels for all the cockatiel haired dandies to adorn themselves at great personal expense debt.

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£74,950 Gadd street, nottingham, NG7.

6 bedrooms. Near to Nottingham Railway Station (1.3 miles) and Nottingham Islamia School (0.1 miles)

With the sort of exciting multicultural outfits in the vicinity, its no surprise that the house is going for a massive discount. And with the Pakistani birthrate running at over 5 compared to the British average of 1.8, the house is about the right size for a small Moslem family..

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Not an area that I know much about, but I came across a number of houses down one street that are up for auction with guide prices of £75k.

http://www.globrix.com/buy/ng7%204bj?ns=tr...&qt=ng7+4bj

http://www.rightmove.co.uk/viewdetails-169...=4&tr_t=buy

http://www.rightmove.co.uk/viewdetails-169...=4&tr_t=buy

Admittedly these may be artificially low, in order to tempt potential buyers, but a search on Rightmove etc shows similar for sale with prices of not much more (around the 90k mark)

Nethouseprices gives the previous sale prices for this street (including the two Rightmove properties from above) all at £250k (Oct/Nov 2005):

http://www.nethouseprices.com/index.php?co...mp;pcsaCode=NG7

Fascinating stuff.

these were the flats that were shown on bbc's panorama. basically theyre student properties and are kitted out for student living.

there was some kind of underhand dealing with the management company whereby they gave a cashback deal so that the buyer didnt need a deposit. as a result they ended up paying inflated prices for the properties and the management company did a runner.

theyre all repossessed now and theres about 15 empty 6-bed houses all in the same complex.

Edited by mfp123
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Guest mattsta1964
these were the flats that were shown on bbc's panorama. basically theyre student properties and are kitted out for student living.

there was some kind of underhand dealing with the management company whereby they gave a cashback deal so that the buyer didnt need a deposit. as a result they ended up paying inflated prices for the properties and the management company did a runner.

theyre all repossessed now and theres about 15 empty 6-bed houses all in the same complex.

All I can say is

Bloody hell!!!

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All I can say is

Bloody hell!!!

lots of them bought without even looking at the properties. even now at these prices you would have second thoughts at £90k, never mind 200 odd thousand. the people that still own all the other flats that paid full price must be kicking themselves right now.

just goes to show how mad the frenzy was at the peak of the housing boom. when house prices drop people will look back and think "what the hell was i doing paying all this money" when in their heart of hearts they knew better.

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Guest mattsta1964
dryrot and thirdwave - i take it your racist bllx has some relevance to the property debate that I am incapable of understanding, not being a member of the master race you two obviously belong to. Kn0bheads, the pair of you.

No matter how much I hate this country's immigration policy, rascism is the ultimate manifestation of ignorance.

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No matter how much I hate this country's immigration policy, rascism is the ultimate manifestation of ignorance.

I've read this a few times, and am still confused. OK, my comment about "suicide bomber secondary" was a bit puerile - but can you expand on your "hatred" of "this country's immigration policy", omitting any terrifying shadow of "rascism" [sic]?

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dryrot and thirdwave - i take it your racist bllx has some relevance to the property debate that I am incapable of understanding, not being a member of the master race you two obviously belong to. Kn0bheads, the pair of you.

Religion of any description ( read superstitious nonsense ) deserves all the ridicule we can possibly aim at it.

Remember we`ve supposedly left the dark ages behind.

As for being racist, don`t be ridiculous. Religion is only an idea, and a crap one at that, nothing more or less.

After all if you can convert from one to another how can religion possibly be racial.

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That's like saying; "Since it's possible to have a sex change, how can anything be sexist?"

But it isn't possible to have a sex change.

What is possible is a revolting set of medical "procedures" carried out by greedy doctors misusing their training to create a pathetic imitation of the real thing.

Two plastic tits doesn't make a real woman out of anyone, just as pointing out hypocrisy doesn't make someone a racist.

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Guest Steve Cook
But it isn't possible to have a sex change.

What is possible is a revolting set of medical "procedures" carried out by greedy doctors misusing their training to create a pathetic imitation of the real thing.

Two plastic tits doesn't make a real woman out of anyone, just as pointing out hypocrisy doesn't make someone a racist.

Excellent.....

Steve

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