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Sheer Heart Attack

" Pity-centre " Sh$tboxes Now Being Sold At 2002 Prices?

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Flat 7, 58 St. Andrew's Street, Newcastle-upon-Tyne

This is an interesting one. Originally offered on 21 March for £109,950 and has plummeted down to £80,000 by 23 June. It is now sold subject to contract.

According to houseprices.co.uk, that was last sold on the 1st May 2003 for £105,000. Five-and-a-half years to lose £25,000 - if it is actually £80K it sells for in the end. This flat would represent good value at £40,000, but not £80,000.

We've seen 50-60% off in auctions, now we're seeing sub-2003 prices in non-forced sales. This one's not even at 2003 prices. The crash is coming thick and fast.

Any shockers in your part of the UK?

Edited by Pacific State

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The Ramping of Apartments is the biggest con this country has ever seen...

Birmingham : Peak selling price for a flat price was in 2003

http://www.home.co.uk/guides/house_prices_...tion=birmingham

Leeds: has seen a steady decline in prices since 2003

http://www.home.co.uk/guides/house_prices_...?location=leeds

newcastle has had falling flat prices since 2005/6

http://www.home.co.uk/guides/house_prices_...astle_upon_tyne

during all this time developers were building apartments, flogging them to investors with no secondary market to resell them onto...

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The people who bought these places were lifestyle-chasing fools. I remember seeing adverts for a block of these places in Sheffield, and noting that for the price of a cramped 2-bed flat in this new block, you could have walked literally 150 yards and bought a 4 bed, 2 living room house with a small front and back garden, and spent £30,000 doing the house up as well.

I have no sympathy, and even a sneaking respect for the smart people who managed to market these places so well!

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The people who bought these places were lifestyle-chasing fools. I remember seeing adverts for a block of these places in Sheffield, and noting that for the price of a cramped 2-bed flat in this new block, you could have walked literally 150 yards and bought a 4 bed, 2 living room house with a small front and back garden, and spent £30,000 doing the house up as well.

I have no sympathy, and even a sneaking respect for the smart people who managed to market these places so well!

Buy the dream and live the nightmare! Government "targets" have ensured that many of these "luxury developments"

have been allowed, possibly with a back-hander, or two, and perhaps the promise of some "social housing"!

Built out of "cardboard" with no minimum room-size,

thanks to the Tories in 1981-ish, "relaxing" building regulations!

You are all better off buying a 1950's ex-council house with a bit of garden,

than these chicken coops!

Not what people wanted, but they have been sold this "riverside lifestyle" (flood plain?),

instead of a proper house, and the Nu-Labour can meet their "targets"!

I think I'm getting cynical! :huh:

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A younger friend of mine has been itching to move out of her parents place for a while, but couldn't really afford it on her low salary. Last summer, I explained that prices will eventually plunge and to be patient, but alas she took no notice and last month bought a shared-ownership, new build, 1-bed flat, adjacent to a dirty canal in STOKE-ON-TRENT :o

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When I were I lad I could only dream of living in a sh$tbox!

Luxury. All we had to look forward to was a dung heap on back of t'council tip.

Kept us warm though.

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80k for what looks like a loft conversion. It's worth 50k tops in a sane market, and for that money the interior better be high spec.

It's just on the outskirts of the city centre, away from all the shops and historic buildings.

80% of Newcastle city centre is world-class in its beauty, 20% looks scruffy and derelict. This flat is in the 20%. If I'm not mistaken as well, I am sure there is a "social housing" element to this building (ie loud music, screaming matches at 3 in the morning, etc).

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A younger friend of mine has been itching to move out of her parents place for a while, but couldn't really afford it on her low salary. Last summer, I explained that prices will eventually plunge and to be patient, but alas she took no notice and last month bought a shared-ownership, new build, 1-bed flat, adjacent to a dirty canal in STOKE-ON-TRENT :o

Guess your mate is really fecked - 200 property portfolio is going to be dumped on the Stoke market if the latest news is anything to go by.

FH

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It's just on the outskirts of the city centre, away from all the shops and historic buildings.

80% of Newcastle city centre is world-class in its beauty, 20% looks scruffy and derelict. This flat is in the 20%. If I'm not mistaken as well, I am sure there is a "social housing" element to this building (ie loud music, screaming matches at 3 in the morning, etc).

i recently visited the centre of Newcastle and was shocked to see that half of it was derelict and the other half looked like Leeds or Manchester 25 years ago.............

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i recently visited the centre of Newcastle and was shocked to see that half of it was derelict and the other half looked like Leeds or Manchester 25 years ago.............

The medieval parts of the city centre (Quayside, Blackfriars, West Walls, etc) look fantastic as does Grainger Town. My good lady lived in Paris for 8 years and, even as a Macam (Sunderland person), she thinks that large parts of Newcastle look like the French capital.

The bits around Pilgrim Street roundabout and St James do look very "Ashes to Ashes". What is the city council's solution? Build more high-rise shiteblocks with glass everywhere.

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Poor chap across the street from me has has his 2-bed "luxury apartment" on the market for almost a year now. Changed EAs 3 times, and dropped the price by £5K, all to no avail. It's on at £250k, houseprices.co.uk says he bought it for £170k in 2005, so he should have rom to slash the price and get a sale, but judging by the flat screen tvs and leather sofas in the front room, and the Mini cooper S outside, he's MEWed to the max.

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Poor chap across the street from me has has his 2-bed "luxury apartment" on the market for almost a year now. Changed EAs 3 times, and dropped the price by £5K, all to no avail. It's on at £250k, houseprices.co.uk says he bought it for £170k in 2005, so he should have rom to slash the price and get a sale, but judging by the flat screen tvs and leather sofas in the front room, and the Mini cooper S outside, he's MEWed to the max.

Doesnt the term quarter of a million sound much scarier than 250K.

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Doesnt the term quarter of a million sound much scarier than 250K.

Indeed, but I like to think of it like this.......

10 years take home pay, if you are earning a good wage (about £33K ?).

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Well! When I were a lad we lived in sh$t. No box.

My family used to live in a dollop of green spittle - we could only dream of living in a warm enveloping turd...

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Poor chap across the street from me has has his 2-bed "luxury apartment" on the market for almost a year now. Changed EAs 3 times, and dropped the price by £5K, all to no avail. It's on at £250k, houseprices.co.uk says he bought it for £170k in 2005, so he should have rom to slash the price and get a sale, but judging by the flat screen tvs and leather sofas in the front room, and the Mini cooper S outside, he's MEWed to the max.

It'nmake 100k by auction... :ph34r:

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My family used to live in a dollop of green spittle - we could only dream of living in a warm enveloping turd...

A whole dollop for just one family! Luxury. We had to share our dollop with two other families.

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Flats will fall much more than houses over the coming years as FTB's will leap frog the bottom runs of the ladder and this is the time to buy these flats up ready for the next boom that will come even if it ten years away.

top floor flats are good if riots break out and i think thats just where goverment is pushing the general public.

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It's just on the outskirts of the city centre, away from all the shops and historic buildings.

80% of Newcastle city centre is world-class in its beauty, 20% looks scruffy and derelict. This flat is in the 20%. If I'm not mistaken as well, I am sure there is a "social housing" element to this building (ie loud music, screaming matches at 3 in the morning, etc).

Away from the shops and historic buildings?It is above the back page book shop on St Andrews st right next to Eldon sq Newgate street entrance, near the gate complex,the old city walls, china town,Haymarket.No where near summerhill as you said in the newcastle upon tyne thread.

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The medieval parts of the city centre (Quayside, Blackfriars, West Walls, etc) look fantastic as does Grainger Town. My good lady lived in Paris for 8 years and, even as a Macam (Sunderland person), she thinks that large parts of Newcastle look like the French capital.

As you can tell from the Paris Tourist Board, who plan the 2009 marketing campaign as "Paris, le Newcastle du Sud!" :)

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  • 395 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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