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New Houses in Norfolk Park

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In between the "banter" I notice there are a few people who have bought houses/flats on the 2 developments discussed. Has anyone payed much attention as to the prices on the respective sites and whether or not they have risen much over the past 6-12 months? Particularly the last 6 really when prices have generally settled a bit. I will hopefully be looking to move in another 6 - 12 months and I am considering both places in my very early research, and they may be out of the question if they are going to out perform the market and end up way out of my budget.

 

Thanks for any response.

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Hi march

 

My boyfriend and I bought a 2 bedroomed apartment on the Norfolk Park estate when the estate was first released back in spring 2003. Since then the price has escalated, both as a result of the property market madness and because we got a relatviely good price for buying early. Since then though I think the prices have settled somewhat - I know that Norfolk Park Ltd have been selling their last few apartments at £118,000 since last October time, and now our apartment is on the market at a similar price, valued in January, so I guess things are calming down somewhat. With regard to the next 6-12 months, who knows what will happen? The general vibe seems to be that the market is steadying, and our valuer told us that the bidding system isn't as rife as it was, so generally properties are now being sold at around the price advertised. I know this is no good if that price is unaffordable, but I suppose at least it stops things getting out of control once offers start being taken.

 

With regard to the on-going Norfolk Park vs Parklands debate, we bought on Norfolk Park simply because we didn't know about Parklands at the time!

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Lycraclad- That's been my point exactly!

 

People just don't know about the existence of Parklands- I'm pretty sure that I may have been the first to bring up the development on this discussion forum! The Norfolk Park Development is often billed as the cheapest new build site in Sheffield and the Parklands development (which is cheaper!) is always overlooked!

 

March- When I first bought property on the Parklands development in May 2004, the prices (for the second phase of the development- the first phase was basically sold out by then) started from £71,995. Since January 2005, prices for the second phase of the development now start from £78,995. That's a £7,000 increase and the second phase of the development (and hence my apartment!) has not even been finished yet! At it's current price, I would not be able to afford my apartment if I had waited until now to buy it!

 

The existing Bellway new(ish) build properties next to the Parklands development (they were built 3-4 years ago), have also risen in price. Using the 'Ourproperty.co.uk' website at http://www.ourproperty.co.uk/ (wonderful little tool!), I've found that the Bellway terraced houses (on Wulfric Road as an example!) which were originally bought for approx £50,000 in 2002 were selling for about £80,000 in 2004 (based on no. 115 Wulfric Road)

 

Lib1

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To E-Man Grooving- You said 'Ah but £20,000 over 25 years isn't a great deal to pay for a little lie in in the morning and for all the other conveniences'.

 

I've just put £20,000 into the Channel 4 mortgage calculator at a (v.v.v. low) interest rate of 4.75% (the Bank of England base rate- usually variable rate mortgages start from 5.75%). Calculator: http://www.channel4.com/4money/mortgages/features/overpayment_calculator.html

 

Over 25 years, for the £20,000 alone, you would be paying approx £14,000 in interest! That's £34, 207.04 in total! (When calculating, put 0 in the 'overpayments' field)

 

 

Getting out of bed 15mins earlier IS worth it in my book!

 

But- let's agree to disagree and keep the banter amicable!

 

Lib1

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Hello

 

I'm looking to buy in the area as it appears to offer better value than the walkley/crooked area

 

However I'm also faced with a similar dilemma of colleagues warning of the area's poor reputation - is this valid?

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their views are out of date, all the tower blocks were demolished and replaced with low rise new developments. More chance of getting mugged in walkley/crookes i would think.

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I've lived there for 5 years now and am happy here. The new houses are fine and the area is pleasant mostly. Only minutes away from the town centre and the park is lovely. There are no pubs though and only 1 shop (2 if you count the chemist that I understand won't be there much longer). Feel free to pm with any specific questions.

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i lived in a new build here for a year in 3rd year of uni. On the first new estate on the left as you go up park grange road. The house was excellent with solar power n all. It backed onto norfolk park and was very cheap. However within 3 months my friends car was broken into twice. After the 3rd time he stopped replacing the windopw glass and left a duck taped wooden panel in. Also the build quality of the new homes leaves a lot to be desired. They are nice and "angular" but are made of plaster board and have quite budget kitchens unless they have been improved by a previous owner or landlord so after a few more years im sure some will look a lot worse for wear.

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