Jump to content
House Price Crash Forum
Sign in to follow this  
bearORbullENIGMA

61 Houses Under £60k For Sale In Hartlepool

Recommended Posts

There are 61 Houses under £60K for sale in Hartlepool on Rightmove.

And, although there are houses up for £15 & £16k in middlesbrough (& the cheapest is £40k in H'pooh), there are only 43 houses under £60k for sale in Middlesbrough, not including the ethnic supermarket & the buy a mortgage house.

I refuse to buy one till they reach £3k each!

Share this post


Link to post
Share on other sites

Why arent these being bought up? Are they still very unaffordable for FTBers up there?

Doesn't anyone have 20% deposit these days? [dont bother answering that]

Are young people even bothered now in racing to buy a house?

Share this post


Link to post
Share on other sites
Why arent these being bought up? Are they still very unaffordable for FTBers up there?

Doesn't anyone have 20% deposit these days? [dont bother answering that]

Are young people even bothered now in racing to buy a house?

Easy. They are not being bought up because nobody sees any value in them. They really are crummy. 10 years ago crummy for 3-6k and now crummy for 39.990 - 59.990. You gotta be there.

Share this post


Link to post
Share on other sites

There's no pressure to "get on the ladder" any more, which is great.

Even nice houses can't sell. On Northgate, near where my sister lives, there are some three- and four-bedroom new builds on the site of a pub that was knocked down. They were finished in summer 2007 and to date only a couple have been occupied.

The three-bedroom houses were originally £120,000. The four-bedrooms were £180,000. And according to a friend of my sister who lived in one for a short time, they're really well made. He's since moved somewhere else and wishes he hadn't.

One of the four-bedrooms was put up for auction a couple of months ago and failed to reach the £110,000 reserve. "If I'd had £110,000 I'd have snapped their hand off," said my sister, who lives in a rented flat.

I just chuckled and said: "They'll be going for even less in a couple of years."

(Although I could be wrong. I read somewhere the other day that Hartlepool is one of the few places where house prices have gone up this year.)

Share this post


Link to post
Share on other sites

I don't know Hartlepool so well but I used to go up to Middlesbrough regularly.

Some of the developments near the centre, like St Hildas, were really dangerous places. People who'd bought them new back in the 80s ended up being hounded out by their neighbours. I think a lot of central Middlesbrough will be virtually unsellable now. I certainly wouldn't want to live anywhere near the place. So I think even at £30,000 they are still way overvalued.

Share this post


Link to post
Share on other sites
Why arent these being bought up? Are they still very unaffordable for FTBers up there?

Doesn't anyone have 20% deposit these days? [dont bother answering that]

Are young people even bothered now in racing to buy a house?

They are not only unaffordable for FTBers but also very undesirable places to live, in a "you'd have to pay me danger money to live there" kind of way. Not nice at all.

Considering that at the start of the decade, £60k would buy you a nice 3 bedroom semi in a decent suburb of Newcastle (let alone economic black holes like Hartlepool and Middlesbrough), these "great value" properties suddenly seem very overpriced indeed.

You think £60k is cheap? Remember that £13k is a typical wage in these places for the sort of person who, in more sensible times, would be considered a "typical FTBer". People on this sort of wage cannot easily save up a £12k deposit, even if they can find an institution willing to lend them the remainder at a rate they can afford.

£60k (or even £30k) is only cheap if you're a well paid Southerner who knows nothing about the true economic horrors of the North. It really is grim up here, you know.

Edited by ricbax

Share this post


Link to post
Share on other sites
A lot of them on the delightful Dent Street and Belle Vue areas. It would seem an 'investor' is offloading his BTL empire.....

Yes, when the Borrowdale houses were £11-20k each 3 or 4 years ago, nobody in Hartlepool wanted them (they hadn't wanted them previously when similar houses had been £3-9k). Investors bought them & put them up at £30k 6 months later & obviously no one wanted them then. So more investors (probably from down south) bought them & attempted to do the same later.

Look at 55 Borrowdale Street on Housprices.co.uk:

22/04/2005 £19,644 Ter. F No Map 55, Borrowdale Street, Hartlepool, TS25 1QJ

22/12/2005 £37,000 Ter. F No Map 55, Borrowdale Street, Hartlepool, TS25 1QJ

04/01/2006 £47,000 Ter. F No Map 55, Borrowdale Street, Hartlepool, TS25 1QJ

22/05/2008 £43,500 Ter. F No Map 55, Borrowdale Street, Hartlepool, TS25 1QJ

http://www.houseprices.co.uk/e.php?q=borro...epool&n=100

This type of investment can only be described as pyramid selling. Since nobody actually wanted the 'product' at the cheaper price. Investors seemed to be playing pass the parcel with the houses. It seems the buyer of 55 Borrowdale street in 2006 got caught when the music stopped. However, the buyer in 2008 may make an even greater loss.

Share this post


Link to post
Share on other sites
Why arent these being bought up? Are they still very unaffordable for FTBers up there?

Nobody who lives there could afford to buy, and nobody who could afford to buy would want to live there.

Share this post


Link to post
Share on other sites
Thanks for the heads up - I m cancelling the idea of communting over a hundred miles from there to buy a house there and work here.

Hartlepool's a much nicer place on the whole now. You just don't really want to live anywhere priced under £100k.

Share this post


Link to post
Share on other sites
I m just kidding about the commuting. At the bottom, I think most of us hopefully will be able to buy a place, roll out of bed and go to work. Commuting is so 2005!

It better hurry up - banks collapsing and semi's still at 2006 prices in Midlands... Detached in nice areas - unchanged! The market hasn't crashed - it's just slowed into a classic car market - not many buyers but expensive!

Share this post


Link to post
Share on other sites

I agree 100% that everything under 100k is pretty much shite.

Thing is - the £100k houses need to come down to at least £70k to make them consistent with rents achieved.

I might buy at £60k....

Share this post


Link to post
Share on other sites

That sort of house at £60,000 are likely still at peak 2007 price.

A few years ago you would likely be paid a few quid to buy them to take them off the owners hands.

Ok some might have been modernised but asking peak prices in late 2008 and in bulk as well. They are trying it on.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 224 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%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.