Apartments in Manchester

Hugbubble

If you are talking about city centre, you still won't get much for your money for 90k, even now.

And others have said, prices will keep dropping, especially for the new build boxes situated in Ancoats (although they might call themselves Northern Quarter).

I am one of the "mad" people who has recently bought a flat/ apartment/ call it what you like in the City centre, but I bought somewhere for the same price it sold for in 2003, and 20k less than when it sold in 2001, so am hoping I have future-proofed myself as far as possible against the iminent crash (and no plans to sell for long time). And it is a conversion, not a new build, of 1000sq ft.

machofairy

I live in Manchester and considered buing a flat as an "investment" 2 years ago. Thankfully, seeing the conditions today, we did not go through with it. Back then, a "desirable place" would cost around £150k for a 1 bed and it would fetch rent of approx £100 above the monthly interest-only mortgage payment.
Now, a similar flat, would cost around £80- £130k, depending on location and with so many empty apartments all over the city and its outskirts, it is a tenants/buyers market... if you dont like the price, move on. You will eventually find one that meet you requirements.
I would recommend you not to approach the developers as they tend to be less flexible with their pricing. However, private sales from landlords desperate to cut their losses would probably get you the best results. Look for huge developments like Greenquarter in north manchester, Fusion in Salford or any of the Urban Splash regeneration / redevelopment schemes for the best deals in terms of price and location. Dont forget auctions too .... may be risky for older buildings but with new builds, you have a 10 year warraanty with the builders anyway. Only problem is you would need to pay all the money within a few weeks of winning the auction.

House prices in Manchester do not seem to be going down at the moment, so I would suggest that you would probbly need over £100k to buy a 2bed in a decent-ish house in an ok location. However, what is "ok" for some may be "lovely" for others, or "terrible" for some. We lived in a postcode area with the highest band car insurance premiums, but never had a problem. However, two miles away, within the same postcode area, things are not so good.

Riq

Thanks for all your input, I decided it's probably best to rent in the outskirts, so been looking around houseshares in Didsbury.

LandyAndy

Riq wrote: »

Thanks for all your input, I decided it's probably best to rent in the outskirts, so been looking around houseshares in Didsbury.

Nice place Didsbury. I was married (for the first time:rolleyes: ) in the church there (behind The Didsbury pub). The first Mrs LA lived at 11 Didsbury Park. Its now a hotel:eek: .

Good train and bus connections and good access to the motorway. You're young and will be better off renting in a place like Didsbury for a while as long as you don't get sucked too far into the 'lifestyle' (plenty of ways to spend your money round there).

Good luck.

LA

Riq

Cheers, well it's far enough away to make it worth cycling in and close enough not for it to be a Tour de France stage!

I shall be on the look out for this lifestyle though and avoid (mostly)

JanCee

I don't want to hijack the thread but, are there any apartment blocks in Manchester city centre that those with local knowledge would recommend, either to rent or possibly buy.

robpw2

abito - has some studios left
starting at 110000 they also willing to pay 24 months guarenteed rental income etc even if you are not buying btl

JanCee

I am looking for a 2 bed flat rather than a studio. Also I am interested to know which blocks are more sought after (if any).

clutton_2

chapeltown street does attract ladies of the night ........

you may wish to buy there - or not

Hugbubble

JanCee wrote: »

I am looking for a 2 bed flat rather than a studio. Also I am interested to know which blocks are more sought after (if any).

Any of the older conversions. I would reccommend places like Chorlton Mill & Cambridge Mill. In fact there is a gorgeous one in Chorlton Mill that has had it price reduced a lot in the past few months because it obviously can't sell (sorry can't be bothered looking for the rightmove link). I like the sorting house too although it is a newer building, and the duplex style of the apartments might not be to everyones taste.

Depends what side of town you want to live.