North West England

HAMISH_MCTAVISH

Here's a thread for jimmy31 to discuss house prices in the North West of England. Rather than trying to repeat the same tedious lies in every thread he can in the house buying and debate house prices boards.

The facts:

The biggest annual fall in prices occurred in Northern Ireland (-10.8%), followed by the north-west (-3.7%) and Yorkshire and the Humber (-3.6%). Annual price falls were also recorded in Wales, the north-east, the east Midlands and the south-west.

In London, the average home rose in value by 5.5%, and in the east by 1.4%. Annual gains were also recorded in the south-east and the West Midlands.

http://www.guardian.co.uk/money/2011/apr/12/house-prices-up-february

Have fun......

shortchanged_2

Just goes to show really how much London and the South East skew the house price trends for the whole of the UK.

B_Blank

Hamish is giving us permission to discuss north west house prices?

Thanks Hamish! Thats very kind of you. I was hoping to discuss delusional bulls, could you make me a topic too please?

Thanks in advance

Mr Blank

LisbonLaura

THE_SLUMDOG_GHUOLS

What is a 'GHUOL'?

Jimmy_31

Did you not see the post in the other thread that somebody made, apparently nobody wants to live in the north west because its a bit sh*t so no wonder prices are falling in my neck of the dump.

Hamish go on rightmove and i bet you that you will see plenty of houses that were listed at 120, 130, 140, 150k 12 months ago and are now listed around the 90,100,110,120k mark.

Madness absolute madness that a house could lose 20k in value in a year.

Please feel free to ignore this post Hamish if you deem it to be silly, or send the back up crew in to give you a hand

Graham_Devon

You are both talking about different things.

Hamish won't discuss asking prices in this sense.

Jimmy is talking about asking prices.

Hamish is trying to get the upper hand, and confusing what Jimmy is saying. Both are right in what they are talking about, but there seems a complete refusal to actually engage in what Jimmy is talking about. As I say, both are reasonable discussions. Starting new threads like this only gives evidence to what I said about Hamish trying to get the upper hand.

Jimmy_31

THE_SLUMDOG_GHUOLS wrote: »

This is the young gentleman who also posts his lies on the fact he could buy for cash. Yeah right you can kido.

If you are referring to me then can you direct me to a post in which i have said i can buy a house for cash, you may find posts that say i have a 40% deposit and could quite easily get a mortgage and buy a house that way.

That being said i will take a guess and say within 6 months time i would be able to buy the most basic house in the area im looking to buy for cash due to them also falling in price.

chris_m

LisbonLaura wrote: »

THE_SLUMDOG_GHUOLS

What is a 'GHUOL'?

It's a sock-puppet that has to mis-spell it because the correct spelling has been blocked by the admins due to the same character's persistent abuse by signing up under new names every time the previous one got banned.
Eventually the mis-spelling will be blocked too, I expect.

As to prices in the North-West, you lot go ahead and talk them down, please do - then I won't have to pay so much when I decide to retire and move to the North-West ;-)

Cleaver

Jimmy_31 wrote: »

That being said i will take a guess and say within 6 months time i would be able to buy the most basic house in the area im looking to buy for cash due to them also falling in price.

Currently speaking, how much is the most basic house in the area you're looking at? And how much do you think it will be in 6 months time?

Cleaver

Jimmy_31 wrote: »

Hamish go on rightmove and i bet you that you will see plenty of houses that were listed at 120, 130, 140, 150k 12 months ago and are now listed around the 90,100,110,120k mark.

Madness absolute madness that a house could lose 20k in value in a year.

The house hasn't 'lost' £20k of value in a year, the seller has reduced the asking price by £20k because no one is willing or able to buy at the higher price.

The value of a house is the final price agreed between buyer and seller that then goes to a final sale. Then, by comparing sale prices of that type of house in that area between the sale price now and the sale price a year, you can find whether houses have lost £20k of value within a year.

Where abouts in the North West are you? The average sale prices in the North West from Q1 2010 to Q1 2011 are below. You don't need to look at asking prices if you have actual sale prices.

Q1 2010 £136,984
Q2 2010 £141,716
Q3 2010 £140,217
Q4 2010 £137,133
Q1 2011 £137,618

Source: Nationwide.

So the difference between Q1 2010 and Q1 2011 stats show that houses have pretty much remained static in the North West (actually a tiny £633, or 0.4%, year on year increase). Obviously many houses that made up these end stats had their prices reduced by £20k, £30k or £40k before they eventually sold. So, presumably, if you're seeing houses now in the North West with £20k being taken off the asking price then you're not seeing houses for sale any cheaper than they were this time last year. Because if houses are having £20k taken off their asking price and are selling for £137,618 on average, then you have to assume that they were getting £20k off the asking price 12 months ago, when the average price was £136,984?

Unless you're looking in a part of the North West that has very much gone downhill since this time 12 months ago?

Jimmy_31

Cleaver wrote: »

Currently speaking, how much is the most basic house in the area you're looking at? And how much do you think it will be in 6 months time?

A basic back to back pavement terrace that needs modernisation can be had for 35 to 40k.

I think these houses will be cheaper in 6 months time.

Builders generally buy these types of houses and with me being in the construction industry i know most of the builders in my area. None of them are buying propertys to do up and sell anymore because they dont want the risk of not being able to sell it due to the fact that there are still houses on the market from early last year that have been bought to be done up and sold at a profit.

I know plenty of people who want to buy their first home but cannot do so because they dont have anywhere near enough deposit to gain a mortgage.

The few FTBs that i know who do have a good enough deposit to get a mortgage are not buying yet because they think that prices will drop further.