Butthead Posted January 3, 2011 Share Posted January 3, 2011 Some more decreases are coming in Although I think this one was a little optimistic at 170k in the first place. http://www.rightmove.co.uk/property-for-sale/property-28439398.html It's hard to make an arguement for that costing more than £130k isn't it? This one is rather nice: http://www.rightmove.co.uk/property-for-sale/property-27395920.html Would be good to see that drop below £250k and into "first time buyer - no stamp duty" territory. Quote Link to comment Share on other sites More sharing options...
Lagarde's Drift Posted January 17, 2011 Share Posted January 17, 2011 It's hard to make an arguement for that costing more than £130k isn't it? This one is rather nice: http://www.rightmove.co.uk/property-for-sale/property-27395920.html Would be good to see that drop below £250k and into "first time buyer - no stamp duty" territory. Doubt it ever will. Crazy, considering it is a 2-bed flat which has had its dining room changed into a bedroom. How are you supposed to seat 4 adults for dinner in the place? And let's not even talk about the parking there. I would consider that ok for <£250k but who knows, that area is bonkers. Quote Link to comment Share on other sites More sharing options...
sylv123 Posted February 4, 2011 Share Posted February 4, 2011 Don't know if it is omly wishful thinking but it looks price start going down and few seller seems desesperate for example: http://www.rightmove.co.uk/property-for-sale/property-29393165.html from 210 to 120 http://www.rightmove.co.uk/property-for-sale/property-15931578.html?premiumA=true from 150 to 115 http://www.rightmove.co.uk/property-for-sale/property-26775709.html?premiumA=true http://www.rightmove.co.uk/property-for-sale/property-30702506.html?premiumA=true Obviously, it is not fantastic places to say the least Also the seller drop the price very quickly after induction. Sellers seem to adapt supermarket tactics now. As every buyers want to see the sign reduced before starting bargaining. they reduce it within 1-2 weeks. Quote Link to comment Share on other sites More sharing options...
Bear in mind Posted February 11, 2011 Share Posted February 11, 2011 I've been keeping a close eye on BS15,16 and 30 over the last year. There are some nice reductions coming in since christmas balanced out with the you have no chance 2007 prices some are STILL holding out for. Hold on I've lost touch with reality like everybody else. A 3 bed semi in kingswood at 150K IS NOT A BARGAIN. Next year maybe! Good luck to all. Quote Link to comment Share on other sites More sharing options...
sylv123 Posted February 12, 2011 Share Posted February 12, 2011 My worry is that the raise of interest rate will mask the drop in house prices. is it better to pay 150K at 4-5% or 120K when the IR will raise to 7-8 %, knowing the spending cut will impact me as hard as anybody? That's what still confuse me. Quote Link to comment Share on other sites More sharing options...
sylv123 Posted February 12, 2011 Share Posted February 12, 2011 Another point on commercial estate: I spent some time yesterday in the broadmead galleries. Talking with some shop owners, all of them said they are making a loss since christmas and don't expect the market to pick up before may. the ground and first first are almost half empty., the acrade to go to primark if 3/4 empty. yet no sign of price reduction for renting to businesses. about 10K a year to rent a tiny unit in the arcade, good luck with that. Quote Link to comment Share on other sites More sharing options...
Bear in mind Posted February 12, 2011 Share Posted February 12, 2011 My worry is that the raise of interest rate will mask the drop in house prices. is it better to pay 150K at 4-5% or 120K when the IR will raise to 7-8 %, knowing the spending cut will impact me as hard as anybody? That's what still confuse me. If you fix your mortgage at 5% now for 5 years, if rates go up to 7,8 or 9% that is what you might pay for the next 20years! A 3 bed in Kingswood should be not any more than 4x average salary and I make that 100K. Its Kingswood for god's sake. I would not pay 100k for this. Would you? http://www.rightmove.co.uk/property-for-sale/property-14793189.html We have been brainwashed. Even the wise on this site. Quote Link to comment Share on other sites More sharing options...
Democorruptcy Posted February 12, 2011 Share Posted February 12, 2011 If a house costs 10K less in a couple of months then that is 5k less you pay over 25 years at 6% or 10K less you pay over 25 years at 8%. I thought per 10k drop saves you 9,329 at 6% and 13,156 at 8% http://www.drcalculator.com/mortgage/ Quote Link to comment Share on other sites More sharing options...
Democorruptcy Posted February 12, 2011 Share Posted February 12, 2011 Y ou are correct I used this calculator and stupidly used interest only http://www.moneysavingexpert.com/mortgages/mortgage-rate-calculator#result So it saves even more than I thought. Thanks The bankers are very pleased I was right and you were wrong. For a moment they were worried about the bonuses they would get from the extra interest on all their millions of mortgages. Quote Link to comment Share on other sites More sharing options...
Bear in mind Posted February 13, 2011 Share Posted February 13, 2011 Whilst I agree there is plenty of optimistic asking prices in Bristol, there is also some better value stuff consistently appearing now. You can get a choice of places for under 100,000 now, without buying in knowle west, if your not sniffy about where eg. redfield, st. george, withywood, eastville, easton. Personally I would not live in easton, but prices are getting more realistic. A total of 277 properties including flats appear on rm search Bristol under 100,000. Its reasonable to offer 10% off. Im sure I remember around the top of the market the same search would have produced maybe 6 - 10 properties. Its getting better for buyers but theres a way to go yet. I've just done the the same rm search .A total of 301 properties available in Bristol sub100k. So it's heading in the right direction. Why don't we bench mark and re-visit? Also 431 3 bed properties sub 150k is a need to know for a FTB with a family like myself. Add your own and we could get a good track on the trend. Quote Link to comment Share on other sites More sharing options...
Jimmy_James Posted February 18, 2011 Share Posted February 18, 2011 Quick update on Bristol market tracking Have been doing this for 14 months now - so have a good annual record to compare. We are now out of the New Year dip, and supply is rising again healthily. Supply in my area is over 30% more than it was at this time in Feb last year (pretty much to the day). Is at the level of well into spring bounce territory last year (early May) Interestingly lots of multiple roomed houses coming on (landlords bailing out) at prices well below the OO equivilant. If you want to get a better price on houses, then bailing landlords are the place to go - they calculate by rental yield, which gives values well below the hopes of most aspiring Bristol home sellers Quote Link to comment Share on other sites More sharing options...
Lagarde's Drift Posted February 21, 2011 Share Posted February 21, 2011 (edited) Except.... rentals in Bristol (some of them, anyway) are also in pie-in-the-sky territory. The major short-term rent providers (Unis, MoD, businesses) don't help really. I mean, £800pcm for a shite house in a shite area or a tiny rabbit hutch in Cotham, what's the point? :angry: Edit: Keep up the monitoring, though. Property moves so slowly and price data is manipulated, so a long-term view is needed to see any decent changes. Edited February 21, 2011 by Cash with Nowhere to Go Quote Link to comment Share on other sites More sharing options...
Untoward Posted February 21, 2011 Share Posted February 21, 2011 I have been observing many price drops in areas I am analysing. Ironically, properties priced over 300k seem to be moving, below that, it's a complete stand off between sellers and non-existant priced-out buyers. This property is very much outside of my search area (Because it's a hovel), but it probably is the most deluded EA description I have ever seen and caused much hilarity when spotted in the local property papers over the weekend. WELCOME TO PARADISE: http://www.haart.co.uk/buying-house/Mapsearch/search-results/Property-details_170666.aspx Quote Link to comment Share on other sites More sharing options...
Bear in mind Posted March 5, 2011 Share Posted March 5, 2011 WELCOME TO PARADISE: http://www.haart.co.uk/buying-house/Mapsearch/search-results/Property-details_170666.aspx So paradise is in eastville. It's always the last place you look that you find what you are looking for. Quote Link to comment Share on other sites More sharing options...
moesasji Posted March 6, 2011 Share Posted March 6, 2011 I have been observing many price drops in areas I am analysing. Ironically, properties priced over 300k seem to be moving, below that, it's a complete stand off between sellers and non-existant priced-out buyers. Keep in mind that this is a picture that exists on a national scale. Effectively the market appears to be divided between those that have a massive backpocket and those that need a mortgage. Look at page 13 in the landregistry statistics, see http://www1.landregistry.gov.uk/assets/library/documents/HPI_Report_Jan_11_lanifs45.pdf Declining sale-numbers are only present for houses <400k. Quote Link to comment Share on other sites More sharing options...
Bristol Dylan Posted March 10, 2011 Share Posted March 10, 2011 (edited) Just comparing the number of properties available on Rightmove with that of a year ago for Bristol postcodes shows a 30% increase overall DAY DATE BS1 BS3 BS4 BS6 BS7 BS8 BS9 Total=======================================================================Wed 10/03/2010 96 180 260 162 195 202 165 1260Wed 09/03/2011 154 268 291 201 273 245 206 1638% increase 60% 48% 11% 24% 40% 21% 24% 30% I'm not sure how prices seem to be continually rising given these numbers but I guess a lot of them could be overpriced and staying on the market for several years due to people not needing to sell. What is everyone else seeing in Bristol at the moment? Any increase in the number of properties coming to market? Any areas where prices are dropping? Edited March 10, 2011 by Bristol Dylan Quote Link to comment Share on other sites More sharing options...
Ames Posted March 10, 2011 Share Posted March 10, 2011 Just comparing the number of properties available on Rightmove with that of a year ago for Bristol postcodes shows a 30% increase overall DAY DATE BS1 BS3 BS4 BS6 BS7 BS8 BS9 Total=======================================================================Wed 10/03/2010 96 180 260 162 195 202 165 1260Wed 09/03/2011 154 268 291 201 273 245 206 1638% increase 60% 48% 11% 24% 40% 21% 24% 30% I'm not sure how prices seem to be continually rising given these numbers but I guess a lot of them could be overpriced and staying on the market for several years due to people not needing to sell. What is everyone else seeing in Bristol at the moment? Any increase in the number of properties coming to market? Any areas where prices are dropping? Similarly DAY DATE BS7 BS16 BS32 BS34 BS35 BS36 Total=======================================================================Wed 18/03/2010 194 427 118 141 144 68 1092Wed 09/03/2011 271 569 133 225 153 100 1451% increase 39% 33% 12% 60% 6% 47% 32% Ames Quote Link to comment Share on other sites More sharing options...
Bristol Dylan Posted March 11, 2011 Share Posted March 11, 2011 Similarly DAY DATE BS7 BS16 BS32 BS34 BS35 BS36 Total=======================================================================Wed 18/03/2010 194 427 118 141 144 68 1092Wed 09/03/2011 271 569 133 225 153 100 1451% increase 39% 33% 12% 60% 6% 47% 32% Ames Thanks for those extra numbers, interesting that BS34 has so many extra properties available, that's Bradley Stoke isn't it? Seems relatively cheap compared to other districts too. Quote Link to comment Share on other sites More sharing options...
Ames Posted March 11, 2011 Share Posted March 11, 2011 Thanks for those extra numbers, interesting that BS34 has so many extra properties available, that's Bradley Stoke isn't it? Seems relatively cheap compared to other districts too. "Sadly Broke" maybe broke again / BS35 is full of ageing boomers/empty nesters sitting in large 4 bed houses, thus only 5% and modest falls. Ames Quote Link to comment Share on other sites More sharing options...
Untoward Posted March 20, 2011 Share Posted March 20, 2011 Facts to back up almost exactly what I have been seeing since Christmas. Ignore the Annual change and look at the delicious Bear Nibbles being offered up by the quarterly changes. Detached House prices are particularly delicious. Num Num Num. Also, check out how few properties have actually sold. http://news.bbc.co.uk/1/shared/spl/hi/in_depth/uk_house_prices/counties/html/county19.stm#table Hold on to your Hats. Quote Link to comment Share on other sites More sharing options...
MrPin Posted April 22, 2011 Share Posted April 22, 2011 I've been looking around Bristol for the last six months or so! All my (not unreasonably) low offers have been rejected! I'm fairly sure I will be thankful of this, in a year or so! Quote Link to comment Share on other sites More sharing options...
badsector Posted April 24, 2011 Share Posted April 24, 2011 I live close to the Clifton Downs shopping centre. I have noticed quite a number of recently closed commercial properties in the surrounding area. In this area new businesses appear to spring up to replace the recently closed, but a recent count was 6 or 7 empty properties in a usually buoyant area. In the centre is the Panasonic shop. Businesses in this particular unit do not appear to stay around for long (it was at one time a McDonalds, then an furniture shop). The shop always looks empty when I pass by. Quote Link to comment Share on other sites More sharing options...
naturals Posted April 27, 2011 Share Posted April 27, 2011 I live close to the Clifton Downs shopping centre. I have noticed quite a number of recently closed commercial properties in the surrounding area. In this area new businesses appear to spring up to replace the recently closed, but a recent count was 6 or 7 empty properties in a usually buoyant area. In the centre is the Panasonic shop. Businesses in this particular unit do not appear to stay around for long (it was at one time a McDonalds, then an furniture shop). The shop always looks empty when I pass by. This could mean extra supply on the residential market soon - the Government are making it easier to convert commercial to residential without planning permission. http://www.bbc.co.uk/news/business-12792614 Quote Link to comment Share on other sites More sharing options...
The Spaniard Posted July 4, 2011 Share Posted July 4, 2011 (edited) Six hundred grand for a little mews house where they used to put the coachman ... http://www.rightmove.co.uk/property-for-sale/property-34458647.html The mind boggles. Edited July 4, 2011 by The Spaniard Quote Link to comment Share on other sites More sharing options...
Untoward Posted July 6, 2011 Share Posted July 6, 2011 Six hundred grand for a little mews house where they used to put the coachman ... http://www.rightmove.co.uk/property-for-sale/property-34458647.html The mind boggles. Without doubt the most ridiculous sale price yet seen in a BS postcode. Quote Link to comment Share on other sites More sharing options...
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