Green shoots abound...

Spiv_2

Yakubu22 wrote: »

The Empty Homes Agency;

http://www.bbc.co.uk/homes/property/buying_rescueahouse1.shtml

or

http://www.emptyhomes.com/

I dont believe the problem is unique to Manchester. I understand a lot of major cities have similar areas.

Thanks. Ummmm - not really some where I'd want to live.




But I take your point....

Yakubu22

Dan: wrote: »

Yeah, but know one wants to live there.

Yes, because they're not priced realistically.
IF the developers halved the price (hypothetically) I'm sure they would most definitely sell.

IveSeenTheLight

Yakubu22 wrote: »

What about the estimated 800,000 empty properties in the UK? You only need to look at apartment blocks around Manchester to see this. Towers of almost entirely empty flats. There is no shortage of property.

Fair point, so why are they not occupied?
Surely an oppertunity for FTBers, BTL LL's, Housing associations, Council Social Housing etc.
Is it because no-one wants to live there?

I know some areas where properties are empty and it's because no-body wants to stay there.
They could buy cheaply and do up, but who would want to be the first to do that in your tower of flats.

ad9898_3

Conrad wrote: »

Whilst I wouldn't point to a rise in prices this year, it's fairly likely the bottom has been reached now, for good.

Hehe, oh how I laugh at such foolish comment, when things were as bad as they were last autumn, things, in the words of Tony Blair could only get better, however, better than things were last autumn does not mean good, even by the longest stretch of the imagination, don't folk understand only QE is proping up the market at this time, and the market is still falling, when the money has been removed, and worse, when it has to be paid back, the market will again tank, at the moment it's just pausing for breath.

Now, if we were coming out of recession, GDP was rising, unemployment falling, future taxation falling, base rates were relatively high but were coming down, then I can see the market stablising, all those indicators are negative, and so it goes will the housing market.

Yakubu22

Spiv wrote: »

Thanks. Ummmm - not really some where I'd want to live.




But I take your point....

http://www.rightmove.co.uk/property-for-sale/find.html?locationIdentifier=REGION%5E94019&maxPrice=160000&displayPropertyType=flats&radius=1.0

Enjoy

Yakubu22

IveSeenTheLight wrote: »

Fair point, so why are they not occupied?
Surely an oppertunity for FTBers, BTL LL's, Housing associations, Council Social Housing etc.
Is it because no-one wants to live there?

I know some areas where properties are empty and it's because no-body wants to stay there.
They could buy cheaply and do up, but who would want to be the first to do that in your tower of flats.

Good question. Well they're certainly handy for City Centre Manchester (which is a very desirable place to live). There's plenty of amenities, bars, shops etc...its just that there's so many of these apartments all built at the same time. The problem is that they're all priced at a level in which another developer sold their lot previously. Developers intended to attract the young professional type who had means rather than the lower end of the market (DSS, Housing Association etc). Rather than considering that maybe there isnt a never ending demand for property, and that people can see there's loads of these properties available.
Why should a buyer for £150K for a property like this when they can see there are hundreds of identical flats lying vacant?
My point is that IF they were priced more affordably then maybe FTB or BTLs would take notice. This could apply to lots of vacant properties accross the UK

ad44downey

Yakubu22 wrote: »

What about the estimated 800,000 empty properties in the UK? .

I think the true figure is closer to a million. So this nonsense about there being a shortage of housing is a myth.

Yakubu22

Here is the link I meant;

http://www.rightmove.co.uk/property-for-sale/find.html?locationIdentifier=REGION%5E94019&maxPrice=250000&displayPropertyType=flats&radius=1.0&oldDisplayPropertyType=flats&newHome=true

These are brand new, already built properties, not your run down slum type.

ruggedtoast

Spiv wrote: »

I can't see demand for property falling in Londan can you? London is surrounded by its orginal green belt created in the1930s. This caps London's population at 6 million....instead of 16 or 23 or higher. The Green Belt in London makes property scarce relative to the number who want to live there and therefore high prices come from this scarcity value.....

I dont think demand for property has fallen anywhere, that was the point of my post. But demand is one of three factors that have to be present to support a market for any product, alongside supply, and buyer liquidity.

As I said, I could make up all kinds of exciting graphs about Lamborghinis having massive demand, small supply and high prices, and baked beans being high supply, low demand and price, but given a choice I would much rather be in the bean industry at this current time.

Another factor that hasnt been considered in this Nationwide statement is that there is currently no shortage of property to rent. Its not like people are forced with being homeless or choosing to buy somewhere they dont want to live because they cant afford anywhere better.

chupov

Wookster wrote: »

I'd like to know how people think house prices have started to rise consistently if unemployment continues to rise at such a fast rate.

its a well known fact (among some) that unemployment and recessions are great for boosting house prices :rotfl: