Reading Static price
Posted 07 May 2011 - 06:34 AM
Posted 05 September 2011 - 11:31 AM
I had 4 viewings arranged for Saturday. One by one they got cancelled as they all got let out. These had all only been marketed for a maximum of 3 days.
Rents have also crept up from the £800 PCM mark 2 years ago to around the £1000 PCM mark.
After the third cancellation, I asked the Letting Agent if things were usually this bad. He noted that this is always the busiest time of year, but that this year was particularly manic.
And something on Sales:
My usual Rightmove scoutings utilising property bee are revealing 2 bedroom places in need of some work on for about £150,000. It looks like prices are heading South, and property bee highlights a few reductions around the £5-£10k mark. Anyone else got any thoughts?
Posted 12 September 2011 - 06:20 PM
The market has, without doubt, picked up in the past month - in/around Reading.
Same is happening on the South Coast along from Milford-on-Sea through Barton to Bournemouth ..... 'new' properties hitting the market at high (yet maybe sensible? prices) are selling within days ...... hours even, in the case of one property I went to see .... sold within the hour it took me to drive there to view!!!!!!!
I've been studying the market from Reading down to Bournemouth, and all points inbetween, from 2008 when it all went tits up ...... 2009 saw the absolute bargains (with hindsight) and 2010 saw a minor upturn ..... early 2011 looked bad - but from Q2 it has bounced back and now is getting into a sellers market, strange as it may seem.
I hope this doesn't last as I was hoping for more of a downturn!
Posted 19 September 2011 - 08:36 PM
Two bed flats & two bed terraces are dropping in price. This will eventually put downward pressure on the next level up. It is a long, slow, drawn out process though. And some vendors are still listing at crazy prices. They will not sell though.
Posted 01 November 2011 - 12:53 PM
Sorry, again not looking here for a while... yes it did go through.
Posted 11 November 2011 - 12:35 AM
The classic 2 bed terraces are also 10K - 15K off their peak prices, and they are getting cheaper by the month. I reckon that they will soon be around 2004 prices.
There are still quite a lot of people trying for peak prices - but their places ar not selling. The ones that are selling are in the range of 150K for 2 bed falts and 160K for the terraces.
There has not really been a lot of movement in the 250K plus space yet but they will start to be dragged down soon....
Posted 27 February 2012 - 08:20 PM
I'm currently in a 1 bed flat in Reading that I bought at the end of 2010 for £120 K, with a 20% deposit (I was 32 years old, sick completely of living with housemates and desperate to start paying my own mortgage off, rather than somebody else's.) Don't want to remain where I am forever and would quite like to upgrade to a 'proper' house. I also want to stay in Reading, for both work and personal reasons. I'd particularly like one of those terraced houses up by the university: I rented there for 6 months when I first moved to Reading and thoroughly enjoyed it, apart from the parking...
I reckon that I could just about trade up to a house and maintain my equity at the 75% mark by the end of this year... assuming that I keep overpaying my mortgage and stick another £10 K (ish) of capital in when I refinance. My assumption in this is that prices in Reading are going to remain pretty much where they have been, with no really detectable rises or falls. Reading seems to be in a strange 'sweet point', on the exact border between London (rising prices) and everywhere else in the country (falling prices). Do prices seem to be falling in Reading from your points of view, then?
Posted 15 September 2013 - 01:55 PM
Pretty much sums it up. Houses up to about £250k seem to be selling (otherwise known as houses people can buy with reasonable multiples of salary). Houses around the £300k-£600k just seem to sit on the market forever. Unfortunately the housing stock in Reading is p'*** poor and no one aspires to a 2+1 with the bathroom attached to the kitchen which are the kind of houses in the £200k price band,