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ella-at-home

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About ella-at-home

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  1. I couldn't agree more to be honest, it is totally crackers. Obviously not all places are going anywhere, but I have again had details through on a property which I thought may just be worth a look around, only to hear it is already under one offer, with a higher one coming through shortly. Now I know the EAs like to talk the market up, but this is unbelievable and there is no way I would ever consider getting involved in bidding wars for anything. I get the impression everyone reading this thread is getting more baffled by the day about firstly where the money is coming from, secondly who's buying these houses when they have barely dropped from peak and finally whether some of us will ever own a property again. Ugh
  2. Saw this one on the news, certainly FP have been laying staff off for a long time and I don't think this will improve their employees chances at avoiding redundancy! If the big employers do go it will leave an awful lot of people chasing the same small number of jobs (Journal job section has been tiny for months). Can't see any other large companies choosing Salisbury as their head office location and taking on these staff, so ultimately I guess more will be commuting to Basingstoke / Andover / Southampton etc. Trouble is despite this the local market is still looking perky, things in FTB territory are going very very fast (if they are halfway decent) and asking prices are up. Though a large number of ex-BTLs are up for sale there doesn't seem to be much difficulty finding a new buyer for them. Perhaps this end of the market is busier simply because it is the low end and is catching the FTBs, downsizers and any remaining BTLet landlords. Anyone brave enough to make predictions for the next 12 months?
  3. Very interesting posts about mortgaging / bank of Mum & Dad etc! If Mum & Dad are stumping up 40% of an average FTB property here (say a 2 bed house on average = 160K) then they are producing £64,000! Even if they manage to find an 80% LTV that still means a deposit of £32,000. I dropped into a couple of agents this weekend to look at rental properties. Ended up talking to the sales agents whilst I was there (sheer curiosity rather than anything else, no intention of buying at present myself). Interestingly the EAs said was that as there is so little stock for sale at present vendors are generally holding out for asking price or very near to, and would not accept a lower but proceedable cash offer over one which is higher but with a mortgage - so little hope for any STRs looking to pick up a bargain with a cheeky offer from their fund. I realise that it is in the EA interest to get higher prices etc but I do get the feeling that most Salisbury vendors are not in the least desperate to sell at the moment, and will bide their time for what they feel is the best price. If something remotely reasonably priced comes up it certainly goes SSTC very fast, and I was told that though there aren't loads of buyers, there aren't loads of choices in housing stock here either. If people see something they want, and there is so little on the market, they will often pay near asking price for it apparently. What happens when the mortgage valuations come in though? Can't believe these match the asking prices. Perhaps come Autumn a lot of these SSTC properties will be back on the market. Or perhaps not. I give up, lol.
  4. I've been watching Salisbury through Firefox / Property Bee and quite a few properties have certainly had their sales fall through over the past few months, unbelievable thing is recently a few have pushed their price up again when they become re-available! In addition to hearing about the gazumping and apparent market activity in the post above this is all rather depressing. Are there really that many cash buyers around here who are piling in? Any opinions on what the run up to Christmas holds would be interesting. Dead cat still appears to have bounce left in it in these parts.
  5. Well done babyne. Hope you will be happy in the new rental! If anyone hears any more insights into the local market as time goes on, keep posting, there are definitely a few of us on HPC keen to know all about it
  6. Babyne, thanks for posting your latest response from an EA, despite the "bounce" going on around here they obviously know the score and I wouldn't be surprised if plenty of the houses currently showing as SSTC appear back on the market in a couple of months. Spyguy - thanks for the link. Its is definitely watch and wait for me, just like it has been for the last 4 years I think this area is being extremely stubborn but the drops will come. Sooner or later people are going to have to accept facts about just how overvalued their properties have been! Things may look very different this time next year. In the meantime even though renting has its ups and downs there seems to be quite a bit of choice around at the moment, guessing that has a lot to do with people here who would rather rent than sell in the falling market.
  7. Agreed Richiep! Watching and waiting here, and certainly not buying anything for a while yet. Just looking forward to seeing Salisbury sellers accepting the boom is over.
  8. Yes it's a difficult balance, especially when under the Notice to Quit - very stressful for you. Bishopdown does have some really useful facilities and is very popular, it will be interesting to see what happens when the new homes are put in. Various housing plans seem to be on for the other suburbs around the city too, and though there will be more housing available I am not sure how this will filter down to house prices or desirability. Harnham, Fugglestone Red & Bishopdown seem to be earmarked for a lot of housing, but if like the new Alderbury housing mentioned earlier in this thread developments are priced at a premium over existing properties then what effect will that have? Not sure when the building work is due to start either, though I imagine developers won't be keen to start until the market picks up? Salisbury definitely has its positives, like you say there are some good schools, it also has nice amenties, countryside is lovely, direct trains to London are a plus too. I also have friends and family around and am pretty settled. Just looking at it objectively I don't think the asking prices here are justified and am hoping to see some more sense in the market by autumn / winter. I'm not sure many vendors here are ready to accept a -30% off peak offer
  9. That's totally right, the prices of houses do not reflect local wages and locally the job market is hardly booming, nor is the city centre from what I can see (quite a few boarded up shops now). I think you are also right about outside money pushing up the prices, and there probably are a lot of buy to lets around, other thing is that Salisbury doesn't really have a great "housing stock" to speak of. I know a lot of those new build flats near the station are let out, and they do seem very expensive! House hunting within specific brackets often yields very few results here anyway, then once you take out ones which you definitely do not want there is precious little choice left in my opinion. It just seems incredible the price premium Salisbury has over other towns which are not so far away, and I just cannot figure out why At least if prices come down people could actually feel that they were getting something OK for the money, without resenting spending a fortune for very little. Renting definitely seems best for the moment, unless buyers are able to negiotiate an incredible bargain in an area they definitely want to live in and will enjoy for a few years to come.
  10. Hi, I am really pleased to see some active discussion on Salisbury! I too am waiting for the market to show the price drops, but so far asking prices are as high as ever here. I haven't owned a property since my divorce in 2005 when the marital home was sold, luckily that was the boom time which has given me a really good deposit for the future. I would only be looking at the lower end of the market (something like a "nice" 2 bed house seems realistic) but housing here is really overpriced, especially considering that local wages are not actually that high and the town has its fair share of problems. It was pretty clear that the market was due a correction even back in 2005, which is why I didn't rush in to buying again, hopefully when I do buy again my deposit will go that bit further. Its interesting to read your posts and EA views, I am really hoping that the market does adjust here in due course to a reasonable level. If and when the market shows real signs of dropping I would consider buying again. There is definitely a "spring bounce" going on at the moment here which is not going to help bring about realism in the local housing market, hopefully by the end of the year sellers will be rather more realistic as I feel Salisbury has yet to face facts. Though a quick check on Rightmove shows that some houses are dropping I feel that the vast majority are still way overpriced, certainly not showing anything like the drop from peak mentioned on the main forum. The houses which are showing the drops in the low end of the market seem to be mainly in the town centre or just outside the ring road, either flats or very small terraced houses with no parking, often on a main road. No good for me anyway so I guess we just wait and see what happens?
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