What propertybee drops do you see in your area?

m00m00

poppy10 wrote: »

Over the last 2 weeks I've started to see a whole slew of £10k-£20k reductions in the areas I'm watching (York, Leeds Manchester.) Prior to that there had been mostly pointless minor reductions of a couple of grand.

york has been by far the most 'active' of the areas I'm looking at, in terms of number of reductions, and general activity in the market

the first 4 weekly graph for york is here

http://forum.globalhousepricecrash.com/index.php?s=&showtopic=29476&view=findpost&p=254254

Davesnave

im guessing you know about the reputation that the vale has for being the most expensive area in wales and one of the more expensive places in the uk to buy property.

I know the reputation too, but I don't know why it should be. I mean it's OK, but I've obviously missed something.

lil_me

The house I live in had an offer of £193000 last year. A larger, nicer house in the next street is on the market for £170000, been on the market since January, no viewers.....

PasturesNew

pavlovs_dog wrote: »

i think you are in kairdiff PN, so im guessing you know about the reputation that the vale has for being the most expensive area in wales and one of the more expensive places in the uk to buy property.

the vale has nothing on poole. property goes for stupid money there.

Yes, in caerdydd.

No, I have in fact just looked up the Vale of Glamorgan to find out where it is. Seen the name about a bit, but had no clue where it was... and it's not far is it.

As for reputation/cost, as I didn't even know where it was, then no I haven't. But clearly it isn't a pricey area or I'd have it on my list of places to look at

Already dismissed Lisvane, Radyr and Rhiwbina - they seem the sort of place where people keep themselves to themselves unless you're "just like them". e.g. professional, driving posh cars, couple of kids (who are probably in fee-paying schools), play golf, active in the community for charity fundraising, have botox as required, holiday abroad. While I could afford the houses, I am more the dress in leggings because they're comfortable, run a fuel efficient car and I don't care if my garden furniture's plastic and 5 years old, it's just for putting your 4rse on type.



But I can travel to the Vale if you guys are buying beers.

PasturesNew

This is what I am looking for at some future point:
http://www.rightmove.co.uk/viewdetails-15224818.rsp?pa_n=10&tr_t=buy

2 bed detached. Newish. Only £125k.
Over here in town, £125k would buy you a 1-bed house that is one of those "quarters", so 1 plot, four houses back to back in a square.

But I still don't want to be in Barry.



Edit: I kept looking, if I had to buy today, this one is the one that to me seems best for my ticklist to be fairly full: http://www.rightmove.co.uk/viewdetails-9941004.rsp?pa_n=34&tr_t=buy although it does need a conservatory.

pickledtink

Since August 2007 which was peak here asking prices dropped from between 5% and as much as 28%! Mostly around 10-15%.
My own scenario;
Accepted offer of 170,000 end of August. Finally pushed sale through to completion December for 166,000.
Now identical place in similar condition to mine next door dropped from asking price of 160,000 in January to 145,000 today.
These are prime seafront mansion flats with nice secluded large gardens which are usually snapped up before the board even goes up.
I was very very lucky......

Nenen

We've been looking to buy within a 5 mile radius of Cambridge for over a year now. After two aborted sales/purchases (due to people below us in the chain) we finally sold and went into rented in March 2007 to put us in a stronger position in order to be in with a chance of buying. At that time we couldn't usually even get to LOOK at a property in our price range as anything halfway decent was snapped up before we could arrange a viewing.

As we both work full-time, it was almost impossible for us to view mid-week as EAs were always unwilling to show us round after 4pm (the earliest we could make it as I'm a teacher and can't take time off midday) and getting appointments to view on Saturdays were like pulling teeth! You had to arrange it at least 5 days before and then it would be canceled before you got there as the property was sold already! Houses invariably went for asking price (or 'in excess of').

It's a very different state of affairs today. Houses are definitely on the market for much longer and things are nowhere near as 'frantic'. I've been using property-bee since 25th Jan 2008 and there are still a good number of houses for sale that were on the market then.

I get a daily update from Rightmove of all properties with 3+ beds coming onto the market within a 5 mile radius of Cambridge for between 200-350K. Of the ones showing 'new' I'd estimate about 1/3 to 1/2 of these are actually price reductions and not new instructions.

Using Property-bee I'd guess that the majority of the price drops are only 5-10K (around 2-4%) at the moment, although I have seen some drops of 25K (8-10%) in the upper end of the price range. Indeed we were offered a property for 250K that was originally on for 285K, dropped to 275K and is now on at 260K. Many people living here are convinced that prices won't fall in this area but I'm not so sure!

I think that many new properties coming onto the market are more 'realistically' priced (ie coming on lower than they were this time last year) but I have no hard evidence for that and it may just be wishful thinking on my part!:o

PasturesNew

dolcevita wrote: »

I was in barry yesterday and passed that very house.

Looks ok but is in quite a rough area.

Handy for the train station though - 4 stops from cardiff central.
In fact the railway line runs right past that house (the "tree" in the background of the photo is actually an overgrown bush on the railway embankment).

LOL
Yeah, I assumed the cheaper ones would be in places that weren't great.

Not many 2-bed detached houses exist though. Maybe I will try to buy a plot of land and have a house built when the time comes. The only problem with that is that most plots are sold with outline or full PP for a 3-bed or 4-bed detached house, so I'd start off buying land to try to change the PP to something smaller. Probably cut a plot in half and want two 2-bed detacheds. So it's not easy when your needs are smaller.

Anywhere I do buy will be thoroughly researched - I'd look at it online on virtual earth before I even phoned for a viewing.

One thing I now have on my house checklist is: check google virtual earth images and look for blue circles in nearby gardens. Nobody wants to live next to or near a garden trampoline! Sat there, minding your own business, only to have next door's 3 kids + their 3 mates screeching and a head appearing over the fence every 1 second for 4 hours.

jamescredmond

and now for my area.

propertysnake records an average 6% drop.

I, for one, will be pleased when the day arrives when I no longer witness young couples in my neck of the woods staring despondently through EA's windows and never going throught the door.

shelovestobuystuff

jak wrote: »

try www.propertysnake.co.ukYou type in your postcode and it brings up all the reduced properties in your area. So interesting...

Thats an interesting site.Thanks.
In my immediate area price drops between 2% and 15% thats £5,000 to £30,000 reductions.Only 6 properties on there but I know I have seen an overall drop of about £20-30k per property(quite expensive round here for a half decent house):rolleyes:

They started throwing up tiny little terraces and exec flats on every available bit of land less than 2 years ago now and its all went a bit wrong for them.A new estate at the end of the street has 12 unbuilt on floorslabs as they cant sell the rest off plan despite the fact that the tiniest 2 bed terrace start at a very cheap £125k.Even the housing association pulled out of the deal they had on this estate leaving more built but lying empty.