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emmkay

Citipeak In East Didsbury

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I am currently renting a two bedroom flat in Fallowfield for £625pm and i've been looking at the Persimmon built Citipeak flats in East Didsbury. There are 5 unsold flats there and the one I am looking at was originally £180,000 but they are asking for £135,000. I was thinking of putting in a cheeky offer for £115,000. I have a £25,000 deposit so I would be looking at a mortgage of around £85000.

I've already noted some of the downsides for this flat and they are:

- Ground rent: £100 p/a

- Service charge £82 p/m

- Near a busy junction (Kingsway) and Train station (although this would be handy for getting to work quickly)

The main question is do people believe that the price of this flat would most likely fall below £115000? There are many predicting now that prices will continue to fall for a further 15% until April and then things will pick up again. I would ideally like to get on the ladder now rather than rent for another year or two but i'm obviously here to be persuaded. I'd be grateful for any opinions.

Thanks in advance.

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Are these the ones beside the Parrs Wood cinema and bowling? I'm certain there were a couple of flats from there in an auction in the last month and that one of them sold at less than 100K. I don't know if it was a ground floor one or badly located but i would be careful about buying there. I will have a look and try and find a link.

edit:

here's the auction result.

http://www.eigroup.co.uk/auctioneers/templ...ah&l=507991

It hadn't sold when I first looked at the auction results with a reserve of 100K (I think) but it has now.

Jon

I am currently renting a two bedroom flat in Fallowfield for £625pm and i've been looking at the Persimmon built Citipeak flats in East Didsbury. There are 5 unsold flats there and the one I am looking at was originally £180,000 but they are asking for £135,000. I was thinking of putting in a cheeky offer for £115,000. I have a £25,000 deposit so I would be looking at a mortgage of around £85000.

I've already noted some of the downsides for this flat and they are:

- Ground rent: £100 p/a

- Service charge £82 p/m

- Near a busy junction (Kingsway) and Train station (although this would be handy for getting to work quickly)

The main question is do people believe that the price of this flat would most likely fall below £115000? There are many predicting now that prices will continue to fall for a further 15% until April and then things will pick up again. I would ideally like to get on the ladder now rather than rent for another year or two but i'm obviously here to be persuaded. I'd be grateful for any opinions.

Thanks in advance.

Edited by JonD

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Are these the ones beside the Parrs Wood cinema and bowling? I'm certain there were a couple of flats from there in an auction in the last month and that one of them sold at less than 100K. I don't know if it was a ground floor one or badly located but i would be careful about buying there. I will have a look and try and find a link.

edit:

here's the auction result.

http://www.eigroup.co.uk/auctioneers/templ...ah&l=507991

It hadn't sold when I first looked at the auction results with a reserve of 100K (I think) but it has now.

Jon

Apartment 30, 874 Wilmslow Rd, Manchester, Lancashire, M20 sold for 225,995 in july 2006. See link. The price sold at auction should hit the registry figures soon

http://www.nethouseprices.com/index.php?co...0&curPage=3

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  • 401 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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