Hampshire - Basingstoke

[newaccount99]

Time for an update to those figures:

Quarter: Av Price (£) : Sales: % increase

Dec-98 111019 972

.......

Mar-05 220681 538 -3.84

Jun-05 212422 735 -3.74

So the last 2 qtrs have shown drops, however I do think we need at least another qtr, possibly two before we can add much credance to it.

What is more significant is the drop off in completions over the last three quarters, below those of 2 years previously where many agents were calling a tough market due to the uncertainty over Iraq.

We'll have to wait another 6 weeks or so for the Q3 stats to come through.

Time for an update to those LR figures:

Dec-98 111019 972

Mar-99 112614 788 1.44

Jun-99 115841 1066 2.87

Sep-99 133144 1195 14.94

Dec-99 128144 1223 -3.76

Mar-00 142663 849 11.33

Jun-00 143565 1029 0.63

Sep-00 157589 888 9.77

Dec-00 143325 928 -9.05

Mar-01 148405 790 3.54

Jun-01 158664 1094 6.91

Sep-01 172965 1246 9.01

Dec-01 174144 1051 0.68

Mar-02 152786 843 -12.26

Jun-02 180640 1144 18.23

Sep-02 184436 1144 2.10

Dec-02 190878 1017 3.49

Mar-03 196597 678 3.00

Jun-03 190664 780 -3.02

Sep-03 205786 1000 7.93

Dec-03 206467 1227 0.33

Mar-04 207369 800 0.44

Jun-04 203590 1167 -1.82

Sep-04 223047 1174 9.56

Dec-04 229516 904 2.90

Mar-05 220681 538 -3.84

Jun-05 213590 918 -3.21

Sep-05 223678 768 4.72

The final figures for Q3 won't be released until Feb (along with Q4) but they are currently posting a positive on the previous 2 and a stagnant for the 12mths. These figures are of course raw stats and don't take account of improvements in stock, mix adjustment nor inflation. But the evidence does point to a flat (or perhapes dipping) rather than 'crashing' market.

If things don't start kicking off come the spring or early summer I'm tempted to switch my vote to the 'mother of all stagnations' camp

I'm afraid I did switch my forecast this year on the outlook for housing, I feel we are going to see a repeat of '05 for '06-'07 and perhapes for the next few years (perhapes even 2010 ).

However this doesn't apply to Victory Hill and Crown Heights.....where my predictions of doom remain robust..............you guys are sitting on the worlds biggest Turkeys this Xmas and for many more to come - unlucky

[newaccount99]

The final figures for Q3 won't be released until Feb (along with Q4) but they are currently posting a positive on the previous 2 and a stagnant for the 12mths. These figures are of course raw stats and don't take account of improvements in stock, mix adjustment nor inflation. But the evidence does point to a flat (or perhapes dipping) rather than 'crashing' market.

There's been a lot of press this weekend about dodgy valuations for new builds:

http://money.guardian.co.uk/property/story...1669126,00.html

Here the developer will offer an incentive for a prospective purchaser. The figure quoted back to the LR is the pre-discount price hence any subsequent "valuations" will be based on these 'comparables'. e.g. Published price is £200K, developer offers incentives (cash-back, furnished, deposit-paid, rental-uplift) to the tune of £40K+. True price is £160K.

Developers have always offered incentives, but these have spiraled in recent years, in some cases 20%+. Now Basingstoke has had some massive house development programs in recent years including: City lifestyle (Crown heights/Victory Hill), Kempshot park, Chineham and the re-building of Oakridge ("village").

If the LR figures took these discounts into account those LR % increases may look significantly different.

[newaccount99]

Here the developer will offer an incentive for a prospective purchaser. The figure quoted back to the LR is the pre-discount price hence any subsequent "valuations" will be based on these 'comparables'.

If the LR figures took these discounts into account those LR % increases may look significantly different.

Of course when it comes to re-sale the owner is not in a position to offer an incentive or a discount and the reality of the true price shines through. Examples of 15% reduction in values from two crown heights properties bought in Autumn '03 and sold in summer '05

Crown Heights

84 Alencon Link,

RG21 7TY £190,995

26-Sep-2003

Crown Heights

84 Alencon Link,

RG21 7TY £165,000

28-Jun-2005

Crown Heights

139 Alencon Link,

RG21 7TW £213,995

28-Nov-2003

Crown Heights

139 Alencon Link,

RG21 7TW £183,000

29-Jun-2005

Judging by the number of crown heights re-sales coming on the market i'm anticipating posting many more examples on here in the next few months.

[supremestar]

Friends, please help me

I have been offered victory hill 2 bed flat for 187k (5% deposit paid by Rialto) deal. Is it worth considering for Buy-to-Let. Your suggestions would be appreciated.

[newaccount99]

Friends, please help me

I have been offered victory hill 2 bed flat for 187k (5% deposit paid by Rialto) deal. Is it worth considering for Buy-to-Let. Your suggestions would be appreciated.

Absolutely, you'll be looking at a 4% yield on your investment not taking voids, maintance and agents fees into account.

Judging by Crown heights comparables you should then be able to flip the property in 18mths time for 85% of the price you paid.

Compared against other new-build BTL opportunities this one looks a gold-plated cert...........

[Abstra]

Have you seen basing View. What on Earth has happened to those office blocks.

You have to admit it, Basing View overlooking Eastrop Park is really quite beautifull but most office blocks now seem only partly occupied. Some are empty and one has all its windows put in and is derelict. Even the Sun Life building is loosing its glory.

If Basing View can't attract tennants then we are stuffed!

I hope someone is still looking after the Hanging Gardens of Babylon on the Wiggins Teape biulding.

[Abstra]

Please move to house prices in your area!

ThanX!

[youthoftoday]

Have you seen basing View. What on Earth has happened to those office blocks.

You have to admit it, Basing View overlooking Eastrop Park is really quite beautifull but most office blocks now seem only partly occupied. Some are empty and one has all its windows put in and is derelict. Even the Sun Life building is loosing its glory.

If Basing View can't attract tennants then we are stuffed!

I hope someone is still looking after the Hanging Gardens of Babylon on the Wiggins Teape biulding.

That building is rammed full of workers. Not a square inch left.

[7clubs]

And so I find myself back in Amazingstoke, after so many years away. Such a glut of crappy "apartments" both for sale and to rent, seemingly stuck forever in a Rightmove version of Groundhog Day. Nevertheless, I am still strangely drawn to the idea of swapping my rented 2 bed executive box (with de rigeur build issues and negligent developer-cum-unwitting-landlord) for a place of our own. Would any other local care to comment on my view that no 2 bedroom flat could ever be worth more than 200k in Basingstoke, irrespective of location and build quality (both excellent, to be fair)?

[getknk]

Guys, hz is the Chineham area for buying house?

[7clubs]

When I grow up, I want to be allowed to start a thread about house prices.........In the meantime, here's an anecdote from Basingstoke.

Whilst a nailed-on bear when it comes to house prices, for various reasons we have started looking at potential buys. 3 possibles have come onto the market in the last few weeks, all at ambitious, but by no means ridiculous, prices. All 3 have sold subject to contract in a matter of days. Obviously, given that about 97% of property on the market in Basingstoke is horrible, demand for anything decent will always be relatively strong; nevertheless, something is happening out there, which runs counter to the fact that the town doesn't seem to have any real job vacancies at the moment and very much counter to the doom and gloom which pervades the mood of everyone I know in the area.

[Jason]

When I grow up, I want to be allowed to start a thread about house prices.........

Get to 100posts or post here: http://www.housepric...hp?showforum=41

[defweb]

Any views on old basing or cliddesden parts of basingstoke

This property has caught my eye though i wouldnt pay asking price http://www.rightmove.co.uk/property-for-sale/new-homes/property-19359708.html

[7clubs]

Any views on old basing or cliddesden parts of basingstoke

This property has caught my eye though i wouldnt pay asking price http://www.rightmove.co.uk/property-for-sale/new-homes/property-19359708.html

I rent just up the road from that property - if you really must live in the chav-infested hell-hole that is Basingstoke, 70s dumping ground for those deemed too ugly to live in London and their many progeny, Cliddesden Road and the streets off it are probably the safest bet, especially the end you are looking at, as it's cut off (physically and socially) from the town by the ring road,which is very much a good thing - the tattoo/piercing/fat count is much lower down here. Oh, perhaps there is a reason that the road is known as Snobs' Alley too....

Seriously, the location is good, within 15 minutes' walk of everything - station, shops, park, schools. Road connections are also good. The house you link to seems ok, though I have no idea who built it....Scarily, similar houses have sold recently at around the sticker price of that one, when I had been convinced they would languish forever on Rightmove or have to drop the asking to something more Earth-like - seemingly not. Again, to be fair, Basingstoke is home to some big, hi-tech companies, so there are plenty of medium to high earners, at least for now.

Regarding Old Basing, the centre of the village proper has some beautiful old properties, often listed, though you may be put off by the high-speed trains flying overhead on the viaduct. The village has sprawled out over the last 40 years and is now serious coffin-dodger territory, with little in the way of facilities.

[getknk]

Do you know how is the Limes Park Area (near NHS main hospital)?

Seems the development was built around 2008

But anyone know about the locality? Any anti-social activities reported?

Seems the school nearby is not so good?

[LiveinHope]

Perilously close to losing money

Chocolate Box Cottage

Sold for £166,500 in 1999

Conservatory added to the back of property.

Sold for £367,000 in 2006

£200k increase in 7 years.

Listed for sale at £385,000 in February 2013

A drop of less than 1% and it sells at a loss for the present owners.

Not a lot of headroom in the price or inside the property

Edited April 23, 2013 by LiveinHope

[Shamus]

A bit off topic I know - but I thought I would get a better response here.

I'm starting a new job in the Viables estate in Basingstoke soon. Will have to move closer to Basingstoke later in the year. Have been looking around areas outside and inside the town. I have a daughter who will be starting school next year so we need to think of areas with good schools - I'm also aware that many secondary schools in Basingstoke are not so great so it would be a shame to have to move again down the line because of this.

Not overly struck by Basingstoke for living in but quite like Oakley, Kings Worthy near Winchester or Church Crookham/Fleet. Does anyone know what the commuter traffic is like from these places by car? Would Viables be walkable from the train station in Basingstoke?

[firsttimebuyerstory]

A bit off topic I know - but I thought I would get a better response here.

I'm starting a new job in the Viables estate in Basingstoke soon. Will have to move closer to Basingstoke later in the year. Have been looking around areas outside and inside the town. I have a daughter who will be starting school next year so we need to think of areas with good schools - I'm also aware that many secondary schools in Basingstoke are not so great so it would be a shame to have to move again down the line because of this.

Not overly struck by Basingstoke for living in but quite like Oakley, Kings Worthy near Winchester or Church Crookham/Fleet. Does anyone know what the commuter traffic is like from these places by car? Would Viables be walkable from the train station in Basingstoke?

Hi Shamus

Hope im not too late to answer your question.

Viables would be a very long walk from the station, estimate about 45mins for the walk. On rainy days it wouldnt be nice.

I've lived in Oakley my entire life, its a very nice village far enough away from Basingstoke to not feel like im in town, in the middle of some really nice countryside, great for walking the dog etc. Can ride into town in about 30-40 mins on a pushbike, they recently built a superb cycle path that goes from oakley into Basingstoke via Kempshott.

The other areas you mention are equally great places to live. Winchester is a lovely place with great community feel, sure the schools would be the best in the area. Great thing about Winchester area is you can get to Southampton, Portsmonth, New Forest very quickly, plus commuting to Basingstoke is simple, estimate approx 30 mins from Kings Worthy.

Hope this helps in some way.

firsttimebuyerstory

[Shamus]

Hi. Thanks for your reply. Just one question - how bad does the commuter traffic get around viables and surrounding places I mentioned? Is it worse in the evening than the morning? Would some of the places around Basingstoke be difficult and long commutes? Cheers for anymore info.

[firsttimebuyerstory]

Hi. Thanks for your reply. Just one question - how bad does the commuter traffic get around viables and surrounding places I mentioned? Is it worse in the evening than the morning? Would some of the places around Basingstoke be difficult and long commutes? Cheers for anymore info.

Hi Shamus, You're welcome. Basingstoke is home to alot of UK HQ's and other business in general so traffic is quite heavy in morning and afternoons. Saying that Viables is located in one of the easier areas to access especially if you're coming from the Winchester direction because you can cut through Hatch Warren and Brighton Hill. Cant really speak for Kings Worthy but imagine its relatively quiet in the mornings. My Dad commutes to Fleet everyday from Oakley with no problems but he prefers to start early so he can spend a long evening at home. It takes him approx 30-40 mins between the hours of 0600-0700 and 1600-1700.

To sum it up traffic is heavy but you're never stuck for too long. Basingstoke has a decent road system, a ring road with multiple A road exits and two motorway junctions to M3.

For what its worth and for the benefit of the Basingstoke forum I've just had an offer accepted on a two large bedroom flat in the centre of town for 158500. Two parking spaces, walking distance to train station, top floor, nice area in general, easy access to M3.

Good luck to you Shamus

[Shamus]

Hi Shamus, You're welcome. Basingstoke is home to alot of UK HQ's and other business in general so traffic is quite heavy in morning and afternoons. Saying that Viables is located in one of the easier areas to access especially if you're coming from the Winchester direction because you can cut through Hatch Warren and Brighton Hill. Cant really speak for Kings Worthy but imagine its relatively quiet in the mornings. My Dad commutes to Fleet everyday from Oakley with no problems but he prefers to start early so he can spend a long evening at home. It takes him approx 30-40 mins between the hours of 0600-0700 and 1600-1700.

To sum it up traffic is heavy but you're never stuck for too long. Basingstoke has a decent road system, a ring road with multiple A road exits and two motorway junctions to M3.

For what its worth and for the benefit of the Basingstoke forum I've just had an offer accepted on a two large bedroom flat in the centre of town for 158500. Two parking spaces, walking distance to train station, top floor, nice area in general, easy access to M3.

Good luck to you Shamus

Cheers thanks for the info. Good luck with the flat in the centre of town.

[Shamus]

The council has been spending lot's on road and roundabout improvements in Basingstoke but it seems like they should have been investing in some of the office buildings instead as there seems to be lot's of big companies leaving the area for Reading and London.  See article and comments here: Firm moves jobs

Also I have noticed a lot of offices being turned into apartments.  A company called Severn Capital has recently started on one here: Apartments

Basingstoke has always been a commuter place for London and once as a place many people commuted into for work.  It looks like it will become more of a dormitory town now for workers priced out of the towns they work in. 

At least the roads may stay reasonably quiet if they are all on the trains to London and Reading!

Edited March 16, 2017 by Shamus

[spyguy]

9 hours ago, Shamus said:

The council has been spending lot's on road and roundabout improvements in Basingstoke but it seems like they should have been investing in some of the office buildings instead as there seems to be lot's of big companies leaving the area for Reading and London.  See article and comments here: Firm moves jobs

Also I have noticed a lot of offices being turned into apartments.  A company called Severn Capital has recently started on one here: Apartments

Basingstoke has always been a commuter place for London and once as a place many people commuted into for work.  It looks like it will become more of a dormitory town now for workers priced out of the towns they work in. 

At least the roads may stay reasonably quiet if they are all on the trains to London and Reading!

Basingstoke and Reading will become large, benefit sh1tholes, more so than they are all ready.

Ive commeneted that jobs are leaving Thames Valle Rdg/Bracknell. The industrial estate are being turned into social housing.

I pass bstoke in a train recently. All the big offices near the station are crappy flats.

I cant believe anyone living in bstoke and commuting to London - its a good hour. And very expensive.

And the its hardly Bath or Winchester is it?

[Untoward]

On 17/03/2017 at 7:18 AM, spyguy said:

Basingstoke and Reading will become large, benefit sh1tholes, more so than they are all ready.

Ive commeneted that jobs are leaving Thames Valle Rdg/Bracknell. The industrial estate are being turned into social housing.

I pass bstoke in a train recently. All the big offices near the station are crappy flats.

I cant believe anyone living in bstoke and commuting to London - its a good hour. And very expensive.

And the its hardly Bath or Winchester is it?

45 minutes. Bath is 90 minutes.

[streamingfreedom]

2017 since the last post! Here's an update on Basingstoke.

Currently prices booming due to supply squeeze. New property on the market has an estate agent there from 7am to 7pm doing back to back viewings, then selling properties for offers over asking pretty much every time. I'm getting rolling updates from a 35 year old who works for me that has his property under offer but cannot find something to move to and thinking to give up the search and stay put as they can't match the offers others are putting in over asking. Apparently, first time buyer territory is now £350K.