Friday, October 8, 2010

North East property price plunge

Darras Hall affected by property price plunge

The impact of the economic downturn on North East property prices is revealed today, with homes in some of the regions most desirable postcodes plunging by up to 45%, while those elsewhere have held their value. An investigation by The Journal has revealed how some householders have been forced to reduce their asking prices to more realistic levels. One of the most affected areas identified by estate agents is the exclusive Darras Hall estate in Ponteland, Northumberland, where many have seen hundreds of thousands of pounds taken off the value they put on their homes.

Posted by jack c @ 02:07 PM (4202 views)
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12 thoughts on “North East property price plunge

  • John Oats thankfully remains unaffected

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  • Strange how the most desirable homes are not as desirable anymore yet others, presumably less desirable are unaffected.

    Perhaps the lack of interest only mortgages and due diligence from lendors has something to do with it.

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  • a million quid mid terrace in london is far from desirable in fact i would put it into the crap box

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  • What makes a NE house desirable?

    A place you can have a drink alfresco, whilst enjoying a sea view?

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  • the number cruncher says:

    My mum and dad live about 5 miles from Darras Hall (on a much less posh estate) they will be far from amused, they thought there gaff was worth £1/2 Million. I was always amazed at the house prices around South Northumberland, as there was lots of house building, but not a lot of good jobs.

    I reckon its the amount of house building that has gone on around Darras Hall is the real reason as well as the economic fragility of the area (the thing about footballers is rubbish). The area is chocker block with new detached McMansion style 4 bedroom developments with en-suite facilities.

    By the way – the picture of Carter(Michael Caine) is where my Granada used to take me sea fishing – its all turned back to beautiful golden beaches now. My dad served his apprenticeship at the pit where the spoil for the cable-way is coming from. I have much better memories of that area. Bloody good film though

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  • happy mondays says:

    Top notcth Braindeed ! You forgot to mention the cable car!

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  • A place you can have a drink alfresco, whilst enjoying a sea view?

    Oh, I don’t know – sea coal can be very lucrative.

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  • ‘You’re a big man, but you’re out of shape; to me it’s a full time thing, so behave yourself’

    Who did Caine say this to?

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  • markj69 str05 says:

    Eric Pickles? Gordon Brown? Boris Jokeson?

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  • “‘You’re a big man, but you’re out of shape; to me it’s a full time thing, so behave yourself’

    Who did Caine say this to?”………….

    Was it Cyril Smith (Rochdale MP – R.I.P.) then again it could have been that bloke who played the part of Alf Roberts in Coronation Street.

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  • Here is a clue, see 0:33

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  • I live in the North East and the football reason is ridiculous – its not the reason darras hall is going down the toilet…. people just can’t afford the inflated prices, and are starting to realise they have to drop their prices significantly to sell. In Jesmond alot of students rent properties as its close to the town centre and Gosforth is full of high paid professionals. Darras hall is out of the way, the rental market is far smaller and cost of communiting is too high….

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