Green shoots abound...

Spiv_2

chupov wrote: »

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

Of course you are right.The following graph shows the quarterly unemployment rate compared to real house prices. House prices have been adjusted for inflation and are given in 2009 Q1 prices.




When you look at the early 80's relative to the rise in unemployment the fall in house prices doesn't look so bad, does it?




Anyhoo, prices are rising at the moment and I was just trying to examine the reasons why...

StevieJ

Yakubu22 wrote: »

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.

Nice, have you got a shotgun you can keep handy Cheetham Hill :eek:

IveSeenTheLight

Yakubu22 wrote: »

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

I very much doubt that all 800,000 or 1 million properties are the new build Manchester city centre apartments type

Looking at this site, there are quite a few in Cranley Mews, Kensington, so for those of you in London, check it out
http://reportemptyhomes.com/alert

In my VI area, there is a whole estate with tenemants like the below empty. Nothing to stop being bought, done up and a good cheaper place to live, but in reality, nobody wants to live there, those that do, want to get out to a better area.

StevieJ

IveSeenTheLight wrote: »

I very much doubt that all 800,000 or 1 million properties are the new build Manchester city centre apartments type

Looking at this site, there are quite a few in Cranley Mews, Kensington, so for those of you in London, check it out
http://reportemptyhomes.com/alert

In my VI area, there is a whole estate with tenemants like the below empty. Nothing to stop being bought, done up and a good cheaper place to live, but in reality, nobody wants to live there, those that do, want to get out to a better area.

I thought Kensington was smart

IveSeenTheLight

StevieJ wrote: »

I thought Kensington was smart

We'll if it is, there are empty properties that might be available.
Bit worrying that there is so many on one street mind you, but nevertheless, if I was in London and wanted property, this mught be an avenue I would investigate.

Pixulated

I don't think they are rising really, I mean lets be honest how can they if people are losing jobs?

The only way I could see around it, is if house prices are rising because they are letting more people into the country, thus less places available.

IveSeenTheLight

Pixulated wrote: »

I don't think they are rising really, I mean lets be honest how can they if people are losing jobs?

The only way I could see around it, is if house prices are rising because they are letting more people into the country, thus less places available.

One theory is that there are less properties being put on to the market.

Ok, demand is down, but if supply is also, then there could still be competition for the better properties.

Another theory is that there are people who have been saving and wanting to get on the property ladder and see the price drop (around 17% from peak) coupled with low interest rates and find they can afford to buy

Pixulated

IveSeenTheLight wrote: »

One theory is that there are less properties being put on to the market.

Ok, demand is down, but if supply is also, then there could still be competition for the better properties.

Another theory is that there are people who have been saving and wanting to get on the property ladder and see the price drop (around 17% from peak) coupled with low interest rates and find they can afford to buy

I totally agree with that last statement as I hope this is me in 5 years

Yakubu22

StevieJ wrote: »

Nice, have you got a shotgun you can keep handy Cheetham Hill :eek:

there are some in rough areas granted, but otherwise the majority are in decent locations- as they were intended for the young professional requiring close access to city centre.

Yakubu22

IveSeenTheLight wrote: »

I very much doubt that all 800,000 or 1 million properties are the new build Manchester city centre apartments type

I agree, but my point (which is now being taken out of context by others) is that there IS plenty of decent vacant property about the UK. There is a myth that prices are high because we've ran out of housing, probably justified because we're a small island or some other ridiculous reason.