Har Fast, on 06 October 2009 - 06:10 AM, said:
Am in the same boat - looking for a family house in the Bournemouth/Poole area. Have some knowledge of the area, but decent places all seem to be horrendously overpriced, even compared to previous selling prices.
Some of the areas around Lower Parkstone look good, but the area does seem to have a certain "attitude"? The prices there are pretty comical/scary too - not sure whether it will be a slow grind down for them, or a sudden shock realisation and maybe quicker falls. Any thoughts?
It's a really confusing picture at the moment. Lower Parkstone is one of the 'better' areas, with some nice late Victorian stuff in the side streets, and couple of acceptable pubs, but it has nothing in the way of useful shops and it has the busy main B'mouth - Poole road through the middle of it. I saw a tv prog ramping it as a bit bohemian or 'edgy', on the strength of a couple of coffee joints with aluminium chairs outside. What a joke. Lower Parkstone is a kind of middle ground where those who can't afford to join the big players in Canford Cliffs or Lilliput live. Nice enough in parts, but not worth big money.
The Poole area is really hard to describe, because it varies almost from street to street. I think it's essential to spend a couple of days driving round. Pricewise, I don't think anyone knows whether they are going up, down or static. The family houses that have sold on my patch just off Poole centre in the last 12 months have probably averaged a 15% drop from peak price. A three bed late Victorian semi went in Aug for £200K. The vendor had paid £228K three years ago. If I myself sold now - late vict 4 bed det - I would expect peak £275K to drop to £220Kish.
But there's still no shortage of vendors and agents putting houses up at peak prices, convinces that we are going back in that direction. I only know that when they actually
sell these houses, the LR figures tell me they are selling for considerably less than asking and peak.
Sorry if this is a bit disjointed, but I think we need the winter to clarify the direction. I'm convinced it will be further down. I can't see a single rational factor pointing the other way.