I do NOT believe it... £50,000 drop in Cambridge!

gingin_2

grebbo wrote: »

hmmm I was thinking about putting in an offer on the above. Spoke to the agent and was told there's been some negotiating on the property (so I naturally think people are negotiating the price down) in fact there's three offers for £460k and rising!

The upper end market in the city centre seems resilient....as bearish as I am, I can't see the upper end falling as hard as other areas. It's bl**dy frustrating as the price increases over the last few years have been huge.

I keep trying to tell myself patience...patience, but it's hard.

grebbo

I'm sure the average price will be cheaper but those flats usually come onto the market at the rate of one per year! I can't see mass fire sales.

As with everything; there will always be a market for quality.

PasturesNew

grebbo wrote: »

I'm sure the average price will be cheaper but those flats usually come onto the market at the rate of one per year! I can't see mass fire sales.

As with everything; there will always be a market for quality.

While Riverside houses used to look nice in the summer as one walked down to the common, the reality is they always flooded. And at night that area was always a bit uninhabited. Plus, being behind the unsightly gas works, I never saw it as a desirable place to live.

PasturesNew

This one (linked to in a previous post) http://www.rightmove.co.uk/viewdetails-18444212.rsp?pa_n=9&tr_t=buy was bought exactly 4 years ago for £370k
http://www.houseprices.co.uk/e.php?f=pd&q=St+Bartholomews+Court+cambridge+51&n=100

PasturesNew

Re the one at Magdalen Bridge: http://www.rightmove.co.uk/viewdetails-17762968.rsp?pa_n=3&tr_t=buy

There have been 13 sold in the last 7.5 years:
http://www.houseprices.co.uk/e.php?q=Beaufort+Place+cambridge&n=100

The one currently for sale is number 33, which hasn't been resold since 2000.

I remember these being built. I used to drive down the back roads round that way sometimes. I remember the back road being flooded too on occasions. I just looked at the map, seems the road I used to drive along has been completely built over. It was the old service road/s area for the warehouse etc that used to be there.

And all and sundry would be under your windows from Henrys. It wouldn't be the place for me.

grebbo

PasturesNew wrote: »

While Riverside houses used to look nice in the summer as one walked down to the common, the reality is they always flooded. And at night that area was always a bit uninhabited. Plus, being behind the unsightly gas works, I never saw it as a desirable place to live.

I think we're talking about different areas. The flat I highlighted isn't near any gas works IIRC. It's in Quayside, near the nice part of town. It's the sort of property that I imagine will be much less affected by a recession.

PasturesNew

grebbo wrote: »

I think we're talking about different areas. The flat I highlighted isn't near any gas works IIRC. It's in Quayside, near the nice part of town. It's the sort of property that I imagine will be much less affected by a recession.

Yeah, I thought that after I'd posted it, so tried to back track through the thread and came up with Quayside... by the time you read this you'll have discovered my additional Quayside Thoughts posting.

grebbo

PasturesNew wrote: »

Re the one at Magdalen Bridge: http://www.rightmove.co.uk/viewdetails-17762968.rsp?pa_n=3&tr_t=buy

There have been 13 sold in the last 7.5 years:
http://www.houseprices.co.uk/e.php?q=Beaufort+Place+cambridge&n=100

The one currently for sale is number 33, which hasn't been resold since 2000.

I remember these being built. I used to drive down the back roads round that way sometimes. I remember the back road being flooded too on occasions. I just looked at the map, seems the road I used to drive along has been completely built over. It was the old service road/s area for the warehouse etc that used to be there.

And all and sundry would be under your windows from Henrys. It wouldn't be the place for me.

I doubt number 33 has ever been resold judging by the decor.

So less than 2 per year come on the market and whilst I agree about all and sundry walking under your windows you'd be unaffected by it in the penthouses. If they ever come down by 10-20% I'd buy one but don't think it'll ever happen.