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I have been amazed at just how resilient prices in Hull have been over the past year or so, I mean I love Hull but it's not on many peoples list of cultural hotspots, but yet with the seemingly endless flood of investment from idiot BTL'ers mainly from the south, prices on property snake have been performing OK, and the number of properties listed for sale on home.co.uk have been steady.... up until now that is!!

16/03/08

Total properties for sale in Hull: 2,593

Properties for sale in Hull listed in the last 14 days: 262

12/04/08

Total properties for sale in Hull: 4,464

Properties for sale in Hull listed in the last 14 days: 1,854

I think the crazy rush to sell has just started! LMFAO!!

I can't believe it's taken this long but my my, the people are panicking now!!

:lol::lol:

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  • 2 weeks later...

We have movement...

have been monitoring the shoeboxes in HU1 for a couple of weeks, and while there have been a few small reductions, prices have proved remarkably resilient. Though I suspect that as most are BTL properties, the owners are just gonna hang on at any cost, but if this is the first of many.. then Hoorah!

http://www.rightmove.co.uk/viewdetails-192...=8&tr_t=buy

date event 25th Apr 2008

* Price changed: from '£145,950' to '£115,000'

15th Apr 2008

* Initial entry found.

that's a healthy 21% drop! When they reach sub £100k I'll be happy...

;)

Edited by unclefudgly
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One thing I've noticed in Hull is that although many sellers still seem reluctant to drop their asking prices, the next time a similar property goes on the market in the same street they undercut the previous one's asking price by about £5k. But that doesn't sell either, and then yet another comes on the market for another £5k less than the second....and so on, until the original house is still on the market and now looks about 30% overpriced compared to the more recent entrants ......which aren't selling either!

I think there is going to be one massive crash in Hull.

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One thing I've noticed in Hull is that although many sellers still seem reluctant to drop their asking prices, the next time a similar property goes on the market in the same street they undercut the previous one's asking price by about £5k. But that doesn't sell either, and then yet another comes on the market for another £5k less than the second....and so on, until the original house is still on the market and now looks about 30% overpriced compared to the more recent entrants ......which aren't selling either!

I think there is going to be one massive crash in Hull.

Central Hull hasnt seen as massive price increases as say the suburbs like Ferriby, Swanland, Hessle and Brough (posh end of Hull). If there is going to be a crash somewhere then it will more than likely be in these areas as the houses that are here are massively over priced.

Going a bit further east towards Howden I read a bit in the Goole Times paper about the town which one of the top 10 market towns in which to live. Part of the article mentions houses prices:

"Since the arrival of the Press Association, businesses in Howden are said to be thriving and house prices are on the up too. They have risen on average from £104,957 to £228,186 over the past five years, a 118 percent increase, putting it number 8 on the national list of highest house price growth"

YL

Edited by Yorkshire Lad
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Central Hull hasnt seen as massive price increases as say the suburbs like Ferriby, Swanland, Hessle and Brough (posh end of Hull). If there is going to be a crash somewhere then it will more than likely be in these areas as the houses that are here are massively over priced.

Hmmm, I'm not so sure. I bought a house in HU3 in mid 2001 for £29500, and sold it for £108000 last August. In money terms that may not be as much of an increase as some of the posher areas, but in percentage terms it certainly is.

Although I did some work on the place, this 3-4 times increase is pretty typical of other sold prices on the same street from around 2000 to 2007, whether they've had work done or not. The vast majority sold in the past 5 years seemed to be to BTLers.

In comparison, the house I live in now in rural Lincs has roughly doubled in value since 2001. I couldn't have afforded it in 2001, but 6 years later Hull prices had overtaken it to the point I could sell my old house in Hull and buy this one with money left over.

Edited by Neil D Possitt
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http://www.thisishullandeastriding.co.uk/d...e=sidebarsearch

EAST YORKSHIRE PROPERTY MARKET BUCKING THE TREND

3 readers have commented on this story. Click here to read their views.

11:16 - 15 April 2008

The housing market in East Yorkshire is bucking the national trend, according to estate agents.

Chartered surveyors from across the UK revealed property prices have been falling faster this month than previous months, apart from in Yorkshire and the Humber region.

Estate agents say across East Yorkshire the picture is very different with the market remaining "stable".

Jeremy Wong, director of Cody's Estate Agents, which has four offices across Hull and the East Riding, said the region's housing market has seen increases.

He said: "There has been a lot of doom and gloom regarding housing markets across the country over the past few weeks, but this is not the case for East Yorkshire.

"The housing market is very difficult to consider at a national level and this leads to some distortion.

"Prices in Hull and the East Riding have not dropped and in some cases we have actually seen inflation - especially in Hull, the market is very stable."

Mr Wong also said the company was close to opening another office and its figures for this month showed better performance than April last year.

He said: "Certainly there is no indication the problems being experienced in other parts of the country are comparable to this region."

"People are still buying houses and although they do tend to ask more questions and expect a little more for their money they are still committing to purchases.

"And looking at how the markets are performing in places such as Leeds or York and considering the figures from the chartered surveyors, we may actually be propping up the region's performance."

And Mr Wong said alongside individuals buying single properties, the investment market is still going strong in the city and showing no signs of slowing down.

The concerns come after the Royal Institute for Chartered Surveyors (RICS) published figures which showed prices were decreasing across the country at a faster pace.

But the figures showed this region was the only one to buck the trend.

RICS spokesman Jeremy Leaf said: "The slowdown in prices is directly attributable to a lack of available finance, which has hit demand. However, until new supply increases dramatically a significant crash remains unlikely."

Despite this concern, confidence in the region's market is still obviously high among estate agents.

Martin Rumbelow, a property valuer at Dee, Atkinson and Harrison, said: "The figures published on a monthly basis are unreliable as the periods of time covered are not long enough to make sufficient comparisons.

"Houses in East Yorkshire are selling."

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Yes Hull people are stubborn... and they often go against the grain so to speak, but this is just crazy behaviour. I can't get my head round it, do they not get it... at all??

It seems the new flagship development on the east side of the river hulll is still progressing though at a much reduced pace, I'm waiting for the time when even they face up to the future and grind to a halt. And the marina development "Freedom Quay" which sold out to much fanfare last year, has it seems ran into trouble as almost every unit is still listed at Riverside Property as "sold subject to contract" ha ha ha!!

Edited by unclefudgly
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It's good to see some fellow Hull / East Yorkshire dwellers on the board.

I currently rent in Hessle, have lived in Hessle nearly all my life.

Hull has it's good and bad points, I don't think it is as bad as some people make out.

As for house prices, I think certain areas will take a massive hit. Kingswood springs to mind first (see my recent thread in anecdotal about David Wilson). Historically there was a massive gap between East and West Hull prices. During this boom that gap has narrowed, I think it will return shortly!

I aspire to live in Swanland / Welton / poss Elloughton so I hope they drop significantly too!

Simon

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  • 4 weeks later...

a cracking find!!

Have been keeping an eye on lettings in Hull HU1 as well, as usual there are hundreds of empty BTL properties around all asking stupid rental prices, because some fool told them that rents will keep going up because house prices are going down!!

anyway reality bites..

http://www.rightmove.co.uk/viewdetails-174...6&tr_t=rent

date 27th May 2008 event * Price changed: from '£550 pcm' to '£400 pcm'

21st Apr 2008 * Initial entry found.

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We have movement...

have been monitoring the shoeboxes in HU1 for a couple of weeks, and while there have been a few small reductions, prices have proved remarkably resilient. Though I suspect that as most are BTL properties, the owners are just gonna hang on at any cost, but if this is the first of many.. then Hoorah!

that's a healthy 21% drop! When they reach sub £100k I'll be happy...

;)

Hi everybody, been lurking around for a little while, I really like this forum

a lot. Have lived in London for about 20 years, am originally from Hull.

Did anyone notice one of these flats (2-bed) has just been auctioned by Allsops

for the grand price of £84,000 ?

http://www.auction.co.uk/jumpauction.asp?l...D=542&aTY=r

Thanks!

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I agree, the house is not to my taste either....but come on 5 years on the market, that is some going!

Totally agree. What a strange shade and and a strange location. No open access, only footpath, I just couldn't figure out how to drive in or out! And it also looks like it is for disabled people/elder people---then why it was built to a 3 story? I just can't figure out the reason.

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  • 2 weeks later...

As someone born and bred in Hull, but who left as soon as I could to go to university because of the rife covert prestige and anti-education attitudes in Hull - can I suggest that the reason falls will be experienced later in Hull than other places is because a lot of people probably don't watch the serious 'grown up' news as they find it boring, and haven't cottoned on yet that Kirsty and Phil do not have the final word on property prices. Maybe it's Hull's 'stubborness' or 'going against the grain' personally I think its cos a lot of people in the city are (how to say this politely) underinformed (often because they deliberately screwed up their chances at school because they couldn't be bothered) and are misguided as a result. Lack of education and awareness of the wider world (i.e. anywhere not covered by the Hull Daily Mail or Look North) combined with property porn inspired greed will not I fear lead to a happy ending. I mean I have a cousin who works two mornings a week in a leisure centre (on the cash desk) and yet got a liar mortgage for a four bedroom house... whilst down South I know lots of dual income couples who work hard and long hours but can't get on the ladder, although most of them are well informed enough to realise that not being on the ladder yet is a good thing. I really don't see how it can end nicely in Hull, but if people can't be arsed to do a bit of research for themselves or look and take interest in the world around them, then well I guess they will end up being the one stood up without a seat as the music stops. And I'm sure they'll try to blame the government for that too..... :blink:

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  • 4 months later...
http://www.rightmove.co.uk/viewdetails-162...=3&tr_t=buy

Still for sale six months later, coming up for SIX years now.

http://www.rightmove.co.uk/viewdetails-121...=2&tr_t=buy

This one still up too (about 5 years I think)...why don't they just give up?!

Those properties are as fug as hell.

Any idea how the asking prices went over those years? That's a long, long time.

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Those properties are as fug as hell.

Any idea how the asking prices went over those years? That's a long, long time.

Memory is a bit fuzzy but I think the one now up at £322K started around £360K and the £290K one started at about £315K.

My opinion: the £290K one is worth about £230K the other probably about £250K...until next week when they will drop further!

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Memory is a bit fuzzy but I think the one now up at £322K started around £360K and the £290K one started at about £315K.

My opinion: the £290K one is worth about £230K the other probably about £250K...until next week when they will drop further!

Not being very proactive, are they? They've probably forgotten they're still on the market.

You'd have thought the penny would have dropped by now. :huh:

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Not being very proactive, are they? They've probably forgotten they're still on the market.

You'd have thought the penny would have dropped by now. :huh:

The cheaper one is "new" build (or not so new in this case!), never been lived in.

Maybe you're right about the other one, they've just forgotten their house is for sale!

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  • 4 weeks later...

I've been following the fortunes of this one for a while now.

It first appeared on the market in May of this year as a repo at auction (link) with a guide price of £15k. It was the price that caught my attention - that's low by anybody's standards. It actually ended up selling in June for £28k (link), still cheap, I suppose, even if you take the area into consideration.

Looks like someone watched too many "property developer" programmes and came unstuck. It reappeared at £54,950 and just had a reduction to £49,950.

2 bedroom semi-detached for sale, 46 Foston Grove, Hull, HU9 5UX - http://www.rightmove.co.uk/viewdetails-109...p;mam_disp=true

Here we have a fine two bedroom semi-detached home in the East of the city having just undergone a programme of improvements including a new kitchen and double glazing. Sure to be popular with the first time buyer and investor, being offered with no chain.

History

date event

Thu Nov 20 21:18:01 2008

* Price changed: from '£54,950' to '£49,950'

Wed Sep 24 17:11:51 2008

* Price found: £54,950

* Status found: Available

Edited by darwin
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  • 442 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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