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Cumbria, The Lake District


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Anyone else looking around here?

Prices are very sticky and vendors are still convinced they can get good prices. After talking to a few EA's 10% off the asking price is the norm but no more. I told one EA that maybe that was why they aren't selling any properties at the moment and he was suddenly quiet...

Been tracking lots of properties over the last 18 months and most of them are still for sale with only 2 or 3 being actually reduced in price. I think one of the problems is people tend to be a bit older are a bit less dynamic in this part of the country so they haven't taken excessive risk and have a significant amount of equity which means they are content to leave it on the market until it sells at the price they desire.

Lots of second homes in this area which makes it interesting because in theory a recession should mean there is much less demand and some forced sales but that doesn't seem to have actually happened yet.

Obviously doing my bit and making low offers to get things moving :rolleyes:

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Down here in North Manchester I had a chat with an EA today trying to book some viewings.

They're having problems with people not wanting to keep their houses on the market due to the very slow market. I've spotted stuff selling - and it's all the stuff thats being reduced massively or is at the cheap end of the market.

There's a lot of people who still think their house is worth an arm and a leg. But she did reckon some people are open to negotiation.

I think its out duty to ensure we put low offers in -

Am vewing one tomorrow (think it's one of the Ds that should have resulted in a lower price) on for 135k. What's a cheeky offer? 95? 100?

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Am vewing one tomorrow (think it's one of the Ds that should have resulted in a lower price) on for 135k. What's a cheeky offer? 95? 100?

Link? What does the history for the street - I usually look back as far as 2000 if I can - look like? I'd say cheeky is £60k.

Nomadd

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The EA site it's on doesn't allow deep links (npestates.co.uk) £134,950 New Moston if you really want a nose.

It's a man who doesn't want to sell but his former partner does. Which will explain the ceiling fell down in the front room he doesn't use. The very noisy leak from the toilet cistern and the kitchen which isn't.

He's happy to wait unti someone pays top whack cos that way he doesn't have to move. And no one in their right mind would ever pay that amount for that house...

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  • 3 weeks later...

Been reading this site as a guest/ghost since late 2004 when I followed a link from the old FT housing forum.

Since I am based in Cumbria, I wanted to say that we have just sold our house and traded up for what is 15% below peak price or rather 2005 prices. It has taken 8 months to sell. In my experience, offers more than 10% below asking are not currently being accepted. We have a downsizer/cash buyer propping up the bottom of the chain and the people at the top have already moved out of the area due to a job relocation. All vendors were happy to take a slightly low offer because all have plenty of equity.

For what it is worth, I still think prices have a further 15% (ish) to drop. However, in our circumstances it made sense to move and I promised my partner we would sell in 2008. Back in 2005, I thought the crash would be well over by now <_< .

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It has taken 8 months to sell. In my experience, offers more than 10% below asking are not currently being accepted.

Yes that is my experience as well but I just think the local market here lags behind the nationwide market but the plus side is it will be easier to call the bottom as everywhere else will have troughed.

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  • 2 weeks later...
Yes that is my experience as well but I just think the local market here lags behind the nationwide market but the plus side is it will be easier to call the bottom as everywhere else will have troughed.

:lol:

Every local market is behind the national one, and that town is different

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  • 1 month later...
Anyone else looking around here?

...

Obviously doing my bit and making low offers to get things moving :rolleyes:

I am currently keeping an eye on the local market in carlisle. Have noticed some quite reasonable reductions, but still some are over-priced, but getting more realistic. I would say that there is at least 15-20% off property prices in general since the peak. I think that there is considerable further downward potential due to the area and the rather limited employment opportunities, Lots of local employers moving or closing for good, and most jobs are low paying agricultural jobs or minimum wage shop jobs.

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I am currently keeping an eye on the local market in carlisle. Have noticed some quite reasonable reductions, but still some are over-priced, but getting more realistic. I would say that there is at least 15-20% off property prices in general since the peak. I think that there is considerable further downward potential due to the area and the rather limited employment opportunities, Lots of local employers moving or closing for good, and most jobs are low paying agricultural jobs or minimum wage shop jobs.

+1

Surprised this issue took so long to come up in this thread! :) I think we could also add the outflow of "City money" as holiday homes find themselves being dumped over the next few years. I think the downsides are enormous. Let's hope the next few years bring some commonsense back to the local housing markets in the region.

Nomadd

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  • 9 months later...

Anyone else looking around here?

Prices are very sticky and vendors are still convinced they can get good prices. After talking to a few EA's 10% off the asking price is the norm but no more. I told one EA that maybe that was why they aren't selling any properties at the moment and he was suddenly quiet...

Been tracking lots of properties over the last 18 months and most of them are still for sale with only 2 or 3 being actually reduced in price. I think one of the problems is people tend to be a bit older are a bit less dynamic in this part of the country so they haven't taken excessive risk and have a significant amount of equity which means they are content to leave it on the market until it sells at the price they desire.

Lots of second homes in this area which makes it interesting because in theory a recession should mean there is much less demand and some forced sales but that doesn't seem to have actually happened yet.

Obviously doing my bit and making low offers to get things moving :rolleyes:

Take a look at: http://www.globrix.com/area-guide/kendal_property (south lakes area).

Figures for January 2010 looking very promising ;)

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  • 8 years later...

Holy Thread Resurection!

The enemy is determined to move back to the North West, the Lakes, Bowland, etc,  and we have an eye on the general area. Looking at detached houses, 3 or 4 bed, and keep an eye on Rightmove and Zoopla.

She watches Escape to the Country to feed her craving for this forever home, and showed me this one,

filmed in April 2017 - Escape to the Country Lake District (uploaded to UT 22 January 2018)

As the show progressed, I recognised the 2nd and 3rd houses as featuring in my current searches.

Now for sale for at least a year, in EttC this one was priced at £380k, now it's £345k
http://www.rightmove.co.uk/property-for-sale/property-69343799.html

Not a bad looking place, but Location, Location, Location! Surrounded by working agricultural 
building means no peace and quiet, and no privacy be the looks of it. I think it's got another £50k to fall yet.
Says added to RM in October 2017, but was for sale in April

The other house is outside Sedbergh, was £395k, now £375k (not much of a drop)
http://www.rightmove.co.uk/property-for-sale/property-50284059.html
Not a bad looking place, but Location, Location, Location! No garage, close proximity to the other houses, cars literally driving past the front door, very small private garden, and the kiss of death, a communal garden! 

Says added to RM in August 2017, but was for sale in April

There are a huge number of '£400k' houses for sale in that area, and not many are shifting that I can see.

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  • 1 month later...
On 2/25/2018 at 8:41 PM, ThePiltdownMan said:

That first one has a local occupancy clause. Kendal simply doesn't have enough well paid employment to justify these prices, plus the top end council tax that will apply. The only thing it's got going for it is that it's en route to the lakes. 

Now £325k

http://www.rightmove.co.uk/property-for-sale/property-69343799.html

That's £55k off first price, about 15%.

I think he'll be dropping to sub 300

 

 

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  • 6 months later...
On 22/04/2018 at 14:17, 17clarence said:

Now £325k

http://www.rightmove.co.uk/property-for-sale/property-69343799.html

That's £55k off first price, about 15%.

I think he'll be dropping to sub 300

 

 

Back up to 350!

https://www.thwestateagents.co.uk/property/residential/for-sale/kendal/levens/foulshaw/100794002217

I think they've given up.

 

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  • 3 weeks later...
  • 3 months later...
6 hours ago, 17clarence said:

A lot of listings coming on again from last year, prices the same mind you.

A huge amount of dross needing rewires, heating systems, kitchens and bathrooms, and driveways for some reason.

All top dollar. 

I think this is my favourite overpriced one at the moment:

https://www.rightmove.co.uk/property-for-sale/property-74360447.html

At first I misread that as £350k and initially thought yes £350k is a bit optimistic but not massively so.... 

Edited by nome
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This one caught my eye as a new listing, sure I’ve seen it before.

https://www.rightmove.co.uk/property-for-sale/property-60590265.html#_full-description

Not a bad house, EA description is sickening though, and the staged kitchen (nice kitchen), is straight from Krusty herself.

Recipe book open, bottle of red with two glasses, fresh ciabatta and cherry tomatoes, herb pot.

Unfortunately, street view tells a different story. On a 12% hill with the road outside your window and up the side of the garden (queue labouring engines) and on a sharp bend. There’s a house right outside , and worse of all, a shared drive where the other neighbour has ‘control’ of your access.

3 bed, half a million squid, no thanks.

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  • 1 month later...

Ooh, mad gainz not realised in Grange-over-Sands

02/09/2009    £370,000    High Sands, The Heads, Grange-Over-Sands, LA11 7EE

and today
https://www.rightmove.co.uk/property-for-sale/property-61571541.html
SSTC at asking price £365k, so you'd think 350k absolute tops.

And another
10/10/2006    £310,000    30 The Esplanade, Grange-Over-Sands, LA11 7HH
 and today
https://www.rightmove.co.uk/property-for-sale/property-68507509.html

SSTC at asking price £359k, so you'd think 335k absolute tops.


24/01/2014    £560,000    Heatherglen, Rockland Road, Grange-Over-Sands, LA11 7HR
Asking today
https://www.rightmove.co.uk/property-for-sale/property-61572420.html
Asking price £565k, so lost money over the last 5 years.


06/06/2017    £340,000    Red Gables, 12, Highfield Road, Grange-Over-Sands, LA11 7JA
Asking today 
https://www.rightmove.co.uk/property-for-sale/property-79715927.html
Asking £375k, however it's been on and off the market for at least 6 months.

The Brexit decision has shaken the tree and I'm seeing the ones delisted in the winter relisted after that sping bounce.

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21 hours ago, Si1 said:

Here's another fun kite flyer nearby, ok Lancaster

My eyes....

https://www.zoopla.co.uk/for-sale/details/50928887

 

It last sold at the last peak in 2006 for £160,000. I make that a real terms loss of about ten grand. But of course if they've been mortgaged during that time will have had negative real terms interest rates.

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13 minutes ago, Si1 said:

It last sold at the last peak in 2006 for £160,000. I make that a real terms loss of about ten grand. But of course if they've been mortgaged during that time will have had negative real terms interest rates.

Seems like ridiculous money in 2006, and now also a crazy price.

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