Recommended Posts

tumbleweed.gif

It's tumbleweed for this forum, because from what I can see, Brighton is steadfastly holding against a hpc. Certainly in the market I am looking at - family houses in decent school catchments - decent houses or those with potential are being sold, and not far off asking price.

Flats, and really high-end stuff is sticking around, but I don't see any EAs going out of business just yet. I know several people who have moved into or around Brighton in the past year. Sales might be taking longer than at peak, but the money (or lending, but I suspect money) is still around.

In fact, the housing market (from my viewpoint as a keen observer) feels to be more positive than it has for a few years. More's the pity.

Loads of building improvements/extending going on too - plenty of money still sloshing sround from somewhere :unsure:

Share this post


Link to post
Share on other sites

It's tumbleweed for this forum, because from what I can see, Brighton is steadfastly holding against a hpc. Certainly in the market I am looking at - family houses in decent school catchments - decent houses or those with potential are being sold, and not far off asking price.

Flats, and really high-end stuff is sticking around, but I don't see any EAs going out of business just yet. I know several people who have moved into or around Brighton in the past year. Sales might be taking longer than at peak, but the money (or lending, but I suspect money) is still around.

In fact, the housing market (from my viewpoint as a keen observer) feels to be more positive than it has for a few years. More's the pity.

Loads of building improvements/extending going on too - plenty of money still sloshing sround from somewhere :unsure:

That's the impression I've got. A friend of mine sold right at the peak, so I use that as a marker, and now I'm seeing similar properties on the market for similar amounts. Last year it looked like prices might be slowly creeping down, but now it looks ike things have "picked up" again.

Share this post


Link to post
Share on other sites

Well that was depressing........

Visited estate agent in Lewes. Selling for asking price she said.

Dont think we will ever be able to afford a house . Some crash this is turning out to be.

Share this post


Link to post
Share on other sites

As soon as a town is deemed commutable from London, the gap between local wages and prices will grow. (...)

Good point.

(...) For many places this is ok since the locals can simply commute as well. (...)

But not from the direction opposite (farthest) from London, 'cause it's the sea.

(...) The problem with Brighton is that it's a borderline commuter town where the time and cost of commuting make it viable for only a fortunate few who have high wages and/or flexible hours.

Share this post


Link to post
Share on other sites

It's tumbleweed for this forum, because from what I can see, Brighton is steadfastly holding against a hpc. Certainly in the market I am looking at - family houses in decent school catchments - decent houses or those with potential are being sold, and not far off asking price.

Flats, and really high-end stuff is sticking around, but I don't see any EAs going out of business just yet. I know several people who have moved into or around Brighton in the past year. Sales might be taking longer than at peak, but the money (or lending, but I suspect money) is still around.

In fact, the housing market (from my viewpoint as a keen observer) feels to be more positive than it has for a few years. More's the pity.

Loads of building improvements/extending going on too - plenty of money still sloshing sround from somewhere :unsure:

Maybe people priced-out off London keep Brighton prices up. If this is the case... we are fecked, 'case the supply of buyers priced out from London may keep coming for years! :ph34r::(

Share this post


Link to post
Share on other sites

Maybe people priced-out off London keep Brighton prices up. If this is the case... we are fecked, 'case the supply of buyers priced out from London may keep coming for years! :ph34r::(

I think brighton is one of those places that people want to live, so prices will always be higher than other places. There is certainly an effect where people sell in London and move to Brighton, there are also people with personal wealth who seem to move to the town. The average salary in brighon is probably not very high, and there are alot of people who are bumping along the bottom but if they are forced to sell there will probably be a willing buyer or tenant, so for the meantime I cant see a massive price drop.

As posted widely on this forum there are alot of downward pressures on the housing market but the whole thing is complicated by government and bank intervetion in the market (low interest rates, printing money, stopping foreclosures etc). Unless you have to live in the brighton there are alot of places with more much more affordable housing not that far away like eastbourne and along the coast in kent.

Share this post


Link to post
Share on other sites

I think brighton is one of those places that people want to live, so prices will always be higher than other places. There is certainly an effect where people sell in London and move to Brighton, there are also people with personal wealth who seem to move to the town. The average salary in brighon is probably not very high, and there are alot of people who are bumping along the bottom but if they are forced to sell there will probably be a willing buyer or tenant, so for the meantime I cant see a massive price drop.

As posted widely on this forum there are alot of downward pressures on the housing market but the whole thing is complicated by government and bank intervetion in the market (low interest rates, printing money, stopping foreclosures etc). Unless you have to live in the brighton there are alot of places with more much more affordable housing not that far away like eastbourne and along the coast in kent.

Firstly, welcome to the forum.

I think you are right. But in Brighton is also a perfect example of what I keep saying under my avatar: "Too much credit + planning blockage = house price bubble". I really don't understand why Brighton Council doesn't allow more developments around Brighton. There is massive space. A few months ago I was flying back to Britain, to Gatwick, and the plane circled a few times over the South before landing (Gatwick congested or something, as usual...), anyway, it is amazing how tiny Brighton is actually in relation to the huge empty spaces around it.

This national obsession with a rigid and too tight "green belt" (greatly peddled by the BBC et all) is a major reason this bubble doesn't deflate, as it happened in countries that have allowed more housing, like the USA, Ireland, Spain, etc.

Share this post


Link to post
Share on other sites

Firstly, welcome to the forum.

I think you are right. But in Brighton is also a perfect example of what I keep saying under my avatar: "Too much credit + planning blockage = house price bubble". I really don't understand why Brighton Council doesn't allow more developments around Brighton. There is massive space. A few months ago I was flying back to Britain, to Gatwick, and the plane circled a few times over the South before landing (Gatwick congested or something, as usual...), anyway, it is amazing how tiny Brighton is actually in relation to the huge empty spaces around it.

This national obsession with a rigid and too tight "green belt" (greatly peddled by the BBC et all) is a major reason this bubble doesn't deflate, as it happened in countries that have allowed more housing, like the USA, Ireland, Spain, etc.

You think we should allow housing development on the South Downs? perhaps a new estate at Devil's Dyke?

What Sussex needs is a fast east-west connection so it would be easier to get from Littlehampton and Hastings (cheaper housing) To Brighton.

Share this post


Link to post
Share on other sites

I think you are right. But in Brighton is also a perfect example of what I keep saying under my avatar: "Too much credit + planning blockage = house price bubble". I really don't understand why Brighton Council doesn't allow more developments around Brighton. There is massive space.

Think the answer is simply it wont win them votes so I wouldnt hold your breath. I have lived in the town for a number of years and there has been very little if any development going on, except self styled builders turning houses into flats. I also think that for the most part the prices of houses is determined by the supply of credit, but it is also determined by whether people who have above average wealth want to buy in an area. I often meet people who have inherited a few quid moving to brighton (or Lewes) simply because they think it is a nice/fashionable place to live, and that part of housing demand is pretty uncorrelated with the availability of credit. There is also a very large student population and young population who want to live in the town, which means that the lower end of the housing market is something BTLers who have personal wealth accumulated in the property boom are interested in. I think if you took these two groups out of the equation the outlook would be alot more bleak. I totally agree with the premise of this forum that property prices are probably not sustainable, although I am starting to think given the course the government has taken of inflating away the countries debt we will see the nominal price remain farily constant with a steady decline in real value over the next decade.

In answer to the comment about developing houses at Devils Dyke there is infact a small row of houses on the downs near the radio beacon north of southwick. How the hell they got planning permission is totally beyond me.

Share this post


Link to post
Share on other sites

You think we should allow housing development on the South Downs? perhaps a new estate at Devil's Dyke?

What Sussex needs is a fast east-west connection so it would be easier to get from Littlehampton and Hastings (cheaper housing) To Brighton.

Or a fast connection from Hastings to London?

You're right though - the last thing the SE needs is more people, which is what will happen if they build more houses (and it won't put any downward pressure prices either) it doesn't have enough water for a start.

Much better to improve existing towns and their transport connections.

Share this post


Link to post
Share on other sites

Or a fast connection from Hastings to London?

You're right though - the last thing the SE needs is more people, which is what will happen if they build more houses (and it won't put any downward pressure prices either) it doesn't have enough water for a start.

Much better to improve existing towns and their transport connections.

NIMBY

Share this post


Link to post
Share on other sites

Yeah, apparently one in three landlords in the UK has a BTL in Brighton. It's going to be quite the case of, 'Oh the humanity' when this market finally unravels.

I love Brighton. What a fantastic city!

But I can't help but think I'm never going to get round to buying a property here.. But I wouldn't want to live anywhere else in the UK.

I think Spain would be a good move!

Share this post


Link to post
Share on other sites

I've kept an eye on Brighton over the last few years as a potential refugee from London. In the last few weeks I've noticed a large increase in the number of properties being listed daily on Rightmove. Am I imagining things? Anybody local care to comment?

Share this post


Link to post
Share on other sites

Went to visit family/friends last weekend, and inevitably got chatting with a few about property prices, it seems that what I thought would be the inevitable peak is a distant memory - it's up up up all the way apparently :rolleyes:

These aren't "buy now or you'll miss the boat" or "property is my pension" types, but more that people are resigned to ever rising asking prices and can't see any end to the madness, an "if you can't beat them, join them" reasoning at work I think. Depressing.

Brother in law looking to sell his small dark one-bed basement flat (with damp problem and no outside space) thinks they'll get £215000 for it without much trouble! :blink:

Share this post


Link to post
Share on other sites

Prices starting to fall here now Significant % and numbers esp flats

AT least a quarter of daily listings have the big green reduced sticker!

Things really need to change and I hope they do sooner rather than later.

Share this post


Link to post
Share on other sites

I've kept an eye on Brighton over the last few years as a potential refugee from London. In the last few weeks I've noticed a large increase in the number of properties being listed daily on Rightmove. Am I imagining things? Anybody local care to comment?

Shouldn't that be the other way around Brighton refugees to London.

The only day I spent in Brighton I got a very depressing feeling about the place.....drug addicts, locals unable to answer simple questions lest I was a mugger, antique shops that kept their doors locked and only opened them to ''traders''....actually that means someone they don't think is going to steal goods. How can anybodt live in a place like that.

My worst feeling about a place than any single town in the UK.

Share this post


Link to post
Share on other sites

Thats not the Brighton I know! Lived here years

Some shops locked and entry by doorbell? on the Lanes. Not something I have come across in any other town. Rather a seige mentality. And definitely not the sort of place you can go up to a complete stranger and ask them something without complete surprise. Possibly a southern invasion of space thing.....certainly wouldn't get that in Nottingham or Manchester.

Possibly had a bad day and bad luck...but I have never had such a bad feeling about any other UK town.

Edited by crashmonitor

Share this post


Link to post
Share on other sites

Some shops locked and entry by doorbell? on the Lanes. Not something I have come across in any other town. Rather a seige mentality. And definitely not the sort of place you can go up to a complete stranger and ask them something without complete surprise. Possibly a southern invasion of space thing.....certainly wouldn't get that in Nottingham or Manchester.

Possibly had a bad day and bad luck...but I have never had such a bad feeling about any other UK town.

I grew up in Brighton and it has changed over recent years, certainly the demographic has changed dramatically. It's always had a bit of a strange vibe to it (I was once told that several ley lines converge there and it has always been a place for sorcery!) but it has seemingly gotten a bit edgier recently, quite hard to describe. Of course, it may also be that I've not lived there for a while now, so see things with a different perspective. I have no wish to move back there, despite many family/friends there.

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

  • Recently Browsing   0 members

    No registered users viewing this page.