Liverpool

E

Exile100

Guest
Hi All,

I have been looking of late at investment properties in Liverpool / Manchester area, was wondering if anyone has had any prior experience purchasing in the areas?

I ask this as I was offered a one bed (double room) apartment in Liverpool City Centre for 115,000 Sterling, with a rental of 550 pcm... now this seems extremely attractive, the service charge was 600 sterling per year which was reasonable given the fact there were two lifts.

They assured me no chain was involved but were pressing hard for the sale... the longer negotiations went on the more wary I became and in the end up didn't proceed with the property...

Can anyone advise of comparables in the areas or any experiences they would have had when purchasing in similar locations?

All feedback appreciated...

Regards,

J
 
My brother my Dad and I have 2 apts in Liverpool city cente. It started as a accomodation for my bro who decided to do anothe 4 yeras college there and so he and I went in to save him blowing another 4 years rent.

The city has a huge student population and the srudent accom scene is dominated by companies who run blocks of the standard student accomodation. 4 en suites off a communal living room type accom.

Offering a 2 bed private accom, where tenants ( maturer students ) do not have to live in the full on, 24/7 party, student environment of the student blocks, has worked out fine so far. No shortage of takers for the students who want a more quieter, civilised life and better quality of accom.

The rent yield as a % is higher than available here and there are no stamp duties in the city centre areas near the colleges as part of the urban regen.

There is a council tax and mainuenace fees are lower than what I have experienced here. The city is a bit of a dump and one would hope that it improves in the direction of Manchester over the next 10 years.

There is huge regeneration as part of city of culture also.
 
Exile100, have a look at this auction website (auction takes place on 5 December) lots of properties for sale in liverpool
cheshirepropertyauctions.co.uk

(i am not connected with this company in any way)
 
Exile100 said:
Hi All,

I have been looking of late at investment properties in Liverpool / Manchester area, was wondering if anyone has had any prior experience purchasing in the areas?

I ask this as I was offered a one bed (double room) apartment in Liverpool City Centre for 115,000 Sterling, with a rental of 550 pcm... now this seems extremely attractive, the service charge was 600 sterling per year which was reasonable given the fact there were two lifts.

They assured me no chain was involved but were pressing hard for the sale... the longer negotiations went on the more wary I became and in the end up didn't proceed with the property...

Can anyone advise of comparables in the areas or any experiences they would have had when purchasing in similar locations?

All feedback appreciated...

Regards,

J
Click to expand...

Be careful, the UK has had almost 15 years of property growth in residential and commercial without any serious correction.

The buy to let investor has left the Uk market for the moment, interest rates are high, banks are nervous, alot of apartments have been built, interest rates are high, employment has been strong but anticipated to weaken.

It is almost impossible to see what will drive capital appreciation in next couple of years and there is a risk in certain parts of UK mostly outside the southeast that you could see a 10 to 15% fall.
 
monkeyboy said:
My brother my Dad and I have 2 apts in Liverpool city cente. It started as a accomodation for my bro who decided to do anothe 4 yeras college there and so he and I went in to save him blowing another 4 years rent.

The city has a huge student population and the srudent accom scene is dominated by companies who run blocks of the standard student accomodation. 4 en suites off a communal living room type accom.

Offering a 2 bed private accom, where tenants ( maturer students ) do not have to live in the full on, 24/7 party, student environment of the student blocks, has worked out fine so far. No shortage of takers for the students who want a more quieter, civilised life and better quality of accom.

The rent yield as a % is higher than available here and there are no stamp duties in the city centre areas near the colleges as part of the urban regen.

There is a council tax and mainuenace fees are lower than what I have experienced here. The city is a bit of a dump and one would hope that it improves in the direction of Manchester over the next 10 years.

There is huge regeneration as part of city of culture also.
Click to expand...


I was in Liverpool today, my first time for years and yes it is a bit of a dump wouldnt ardgue with you there. The financial area of new hall street etc there are loads of dirty derelict office blocks which i could see being turned into plush apartments. This is the trend in citys like leeds birmingham and manchester.

If this is the case in a year or 2 there will be a mass of oversupply but i would be happy to ride that out if i new i caould get a property cheap in the city that would rent and down to the cheap price give s good yield. What is the opinion on Liverpool? WHat is the rental market for city centre?
 
Ice cool some basic things which make it appealing IMO. Its not a glamouros or sexy investment like Cape verde etc but.......

1. No Stamp
2. High demographic of 18-30 yo
3. Increasing expectations and the "posher" Manchester to aspire too
4. Huge student pop to city size ratio
5. Huge investment for city of culture and Europes largest ( so they say,but I also heard Bally mun was ) urban regeneration project.
6. General pop less able to afford to buy than here and higher interest
7. Higher yield than much of Ireland. 200k apt 900p/m rent.
8. Take advantage of Irish interest rates to compete with locals on UK rates.
 
It could be an idea alright houses are way more reasonable than Irish ones at the mo at least. Certainly worth looking into just my two cents.
 
colc1 said:
It could be an idea alright houses are way more reasonable than Irish ones at the mo at least. Certainly worth looking into just my two cents.
Click to expand...


Why do people continue to compare one country/ area to another and say it is good value simply because it is cheaper than at home?

This argument is a rediculous one.

Look at the fundamentals of Liverpool - low salaries, high supply
 
I agree,
It's all about supply/demand and afordability for the locals.
 
qwertyuiop said:
I agree,
It's all about supply/demand and afordability for the locals.
Click to expand...

I'd stay away from the UK for at least another 6 months and await what way IR’s pan out. Rates are forecast to travel no lower than 5.25% IMO if the BoE is serious in curtailing inflation at 2%. A very hard task. If Manchester is experiencing problems then I can't see why Liverpool should remain insulated. Liverpool has many low earners who are now being priced out of the market since aggressive lenders such as Paragon and NR are history and tougher stress test means are now in place. Under the circumstance the risks outweighs rewards significantly.


Check pricecrash.co.uk and go into Liverpool for more local insight. I'm afraid the party might be over.
 
ringledman said:
....

Look at the fundamentals of Liverpool - low salaries, high supply
Click to expand...

& sadly, not high levels of employment either !



Anyone who works with property investors ( & is not trying to flog you something ) will tell you: Bolton, Liverpool, Much of Manchester and many other counties in the middle of Britain are not good targets for residential investors at the moment.

Oh, btw, I've not enjoyed posting this as I'm a Liverpool footie fan and love going over, the people are very nice etc :)

Cheers

G>
 
Financial Times on the new build flat market in northern England.

“All of these city centres are operating at close to saturation,” said Lucian Cook, head of residential research at Savills, the agents. Mr Cook said turnover was down, “particularly among private buy-to-let investors who generally account for the majority of purchasers in these markets.”
David Fenton, of Knight Frank, said he was aware of some developers offering discounts of up to 25 per cent to shift properties.
There had always been a tendency for housebuilders to inflate prices in order to offer “artificial” discounts, said Mr Fenton. “Now there is reasonably heavy discounting, what I’d call discounts off the real values as opposed to the inflated values.”
Click to expand...

http://www.ft.com/cms/s/0/c9181e82-99f1-11dc-ad70-0000779fd2ac.html
 
City flat prices plunge
PLUNGING property prices saw a flat in one of Liverpool’s swankiest blocks selling for half its 2004 value.
A two-bed apartment in Old Hall Street skyscraper Beetham Tower was snapped up at auction this week for only £101,000.
Yet the same flat changed hands for £206,500 in May 2004.
City estate agents today admitted prices in Liverpool were dropping and said the market for flats was saturated.
Click to expand...

http://www.liverpoolecho.co.uk/live...2/07/city-flat-prices-plunge-100252-20217952/
 
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