[LiveAndLetBuy]

[lorna1999]

LiveAndLetBuy, on 23 March 2012 - 12:07 AM, said:

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

[LiveAndLetBuy]

lorna1999, on 23 March 2012 - 02:52 PM, said:

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

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.

[i wanna house]

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.

[Tired of Waiting]

LiveAndLetBuy, on 23 March 2012 - 12:07 AM, said:

yeah, 'tis a bit dead around here...

[Tired of Waiting]

LiveAndLetBuy, on 12 March 2012 - 02:55 PM, said:

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

Good point.

LiveAndLetBuy, on 12 March 2012 - 02:55 PM, said:

(...) 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.

LiveAndLetBuy, on 12 March 2012 - 02:55 PM, said:

(...) 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.

[Tired of Waiting]

lorna1999, on 23 March 2012 - 02:52 PM, said:

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

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!

[TulipBubble]

Tired of Waiting, on 25 April 2012 - 06:14 PM, said:

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!

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.

[Tired of Waiting]

TulipBubble, on 29 April 2012 - 01:36 PM, said:

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.

[River Man]

Tired of Waiting, on 02 May 2012 - 07:58 AM, said:

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.

[TulipBubble]

Tired of Waiting, on 02 May 2012 - 07:58 AM, said:

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.

[LiveAndLetBuy]

River Man, on 02 May 2012 - 08:50 AM, said:

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.

[Tired of Waiting]

LiveAndLetBuy, on 04 May 2012 - 03:00 PM, said:

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