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Salisbury Anyone?


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Well I have been looking at the market for appx 7 years, have bought and sold and am now considering buying again. I don't think prices have changed very much in the last 7 years, (but I only look at <230000). The quality and location of houses is pretty ropey and good stuff is very rare and goes quickly and at a premium, so I would say its certainly a difficult market.. If I don't find anything at the right price and quality I will look elsewhere because I can. I am pretty confident that a lot of btl types have bought in salisbury and been stuffed, I've seen quite a few examples. And what they will do when everyone in rented goes on the new gov scheme to buy the truckload of new houses being built in the north I don't know. Probably get even more stuffed.

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Lulu's gift shop on Fisherton Street.

Didn't the young-ish blonde girl inherit the bedding place next door - both left + right.

She opened Lulu's a couple of years ago. I guess she's reached the end of her rental and legged it.

It was all very girly-ish.

The furniture and bedding place was finished off by Ikea - like most of the other furniture places will be.

Christ the furniture place had an '0' at the end of Ikea prices.

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Didn't the young-ish blonde girl inherit the bedding place next door - both left + right.

She opened Lulu's a couple of years ago. I guess she's reached the end of her rental and legged it.

It was all very girly-ish.

The furniture and bedding place was finished off by Ikea - like most of the other furniture places will be.

Christ the furniture place had an '0' at the end of Ikea prices.

Disagree.

I think Salisbury Bedding and Furniture was killed off when the girly pretty pretty stuff all peeled off into Lulu's next door, and the bedding store went all black n' chromey inside - all looked very oppressive and the guys left in there were never as welcoming as the ladies. All the kids bedding and the country cottage type stuff they used to put in the window used to pull in a hell of a lot of women.

All very sad - I've got lots of happy memories - our first joint "relationship" furniture purchases came from there and quite a few other items over the years. Some of the lines they sold were very good quality and really can't be matched by the tat in Ikea.

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Dear Salisbury HPC'ers!

First time posting- But periodic watcher of this thread. Thanks to all contributors on the well informed and engaging comments on here. After this flattery I wonder whether I can pick your collective brains?

We are locally resident and happy in the area, thinking of trading up from the c.200k mark to c.300k mark, staying within Salisbury plus 5 mile radius. Received wisdom would state this would be a reasonable time to do so as any losses on the one sold (compared with 2007 when bought) would be outweighed by the savings on the one sold - all things being equal. My worry with this is that the EAs are all too inclined to agree with this analysis!

Very grateful for your thoughts..

Forres

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Dear Salisbury HPC'ers!

First time posting- But periodic watcher of this thread. Thanks to all contributors on the well informed and engaging comments on here. After this flattery I wonder whether I can pick your collective brains?

We are locally resident and happy in the area, thinking of trading up from the c.200k mark to c.300k mark, staying within Salisbury plus 5 mile radius. Received wisdom would state this would be a reasonable time to do so as any losses on the one sold (compared with 2007 when bought) would be outweighed by the savings on the one sold - all things being equal. My worry with this is that the EAs are all too inclined to agree with this analysis!

Very grateful for your thoughts..

Forres

I mean "savings on the one bought" of course...

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Dear Salisbury HPC'ers!

First time posting- But periodic watcher of this thread. Thanks to all contributors on the well informed and engaging comments on here. After this flattery I wonder whether I can pick your collective brains?

We are locally resident and happy in the area, thinking of trading up from the c.200k mark to c.300k mark, staying within Salisbury plus 5 mile radius. Received wisdom would state this would be a reasonable time to do so as any losses on the one sold (compared with 2007 when bought) would be outweighed by the savings on the one sold - all things being equal. My worry with this is that the EAs are all too inclined to agree with this analysis!

Very grateful for your thoughts..

Forres

I mean "savings on the one bought" of course...

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Your problems are selling the first house and the convincing the owner of the next house that its fallen quite a bit.

Houses are not transacting and have been low since 2003ish.

I stand by my comments of employment - the thing that pays off the mortgage anywhere.

FP (as was) and the SIPP servicers (James hays, capita, etc) are on their last leg.

As far as I can work out the HPA is off.

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Good points, I can see any closures exerting downward pressure to a degree. But I do wonder whether the numbers of possible redundancies would be that significant in the Salisbury housing market area overall -taking into account the proportion of out commuters, retired, and others with very safe jobs in the hospital, military, etc.

Though it has many flaws I think Salisbury will always benefit from its character, culture and heritage etc, so that it is better insulated against falls compared with Amesbury, Warminster, Andover, Verwood etc.

Or is this naive( ?)

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Have to agree - I think the hardest part will be shifting your house first. Market seems dead - a few friends in the area who have seriously been looking to buy at the lower end of the market have all given up as the mortgage deals available required them to jump through too many unattainable hoops for their less than perfect credit ratings. Most people seem to be sitting tight. Lots of houses around me are on the market now - more than at anytime in the 15 years I've lived here. Asking prices are still sky high though, although one neighbour did take a 140K hit on her £500K+ original asking price.

If you a keen to upgrade and you can sell, then it would probably be wise to sell and move into rented - as a genuine cash buyer I sense that there are beginning to be deals to be had out there if you find a motivated distressed seller (I can provide a list for this area ;) )

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Good points, I can see any closures exerting downward pressure to a degree. But I do wonder whether the numbers of possible redundancies would be that significant in the Salisbury housing market area overall -taking into account the proportion of out commuters, retired, and others with very safe jobs in the hospital, military, etc.

Though it has many flaws I think Salisbury will always benefit from its character, culture and heritage etc, so that it is better insulated against falls compared with Amesbury, Warminster, Andover, Verwood etc.

Or is this naive( ?)

It's naive.

Although I was not living in Salisbury during the last downturn, the place did get absolutely hammered.

Its one of these places that, in good times, attracts people.

But the time and cost, especially now that train fares are going up RPI + %% for the next 10 years, makes commuting to anywhere with jobs - now only Brsitol (70mins) or London 120+, a total non-starter.

Salisbury does appear to have more than its fair share of old people. The cathedral attracts them. But the number of rich, old people. Nah.

The key house buying. market making group is working 30-to40s. This cohort has disappeared from the locality over the last 20 odd years.

Coming from The North even I have always found the number of people in Salisbury dependent on the state - either employed or on benefits - to be eye raisingly high.

Not sure if you have kids but try a little experiment - try and find out how many kids parents are wroking in the private sector i.e. not employed by the government, or on benefits -either full benefit, or the 16 hours family tax credit. The numbers are nuts at my kids - rough guesstimate is only 20%

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It's naive.

Although I was not living in Salisbury during the last downturn, the place did get absolutely hammered.

Its one of these places that, in good times, attracts people.

But the time and cost, especially now that train fares are going up RPI + %% for the next 10 years, makes commuting to anywhere with jobs - now only Brsitol (70mins) or London 120+, a total non-starter.

Salisbury does appear to have more than its fair share of old people. The cathedral attracts them. But the number of rich, old people. Nah.

The key house buying. market making group is working 30-to40s. This cohort has disappeared from the locality over the last 20 odd years.

Coming from The North even I have always found the number of people in Salisbury dependent on the state - either employed or on benefits - to be eye raisingly high.

Not sure if you have kids but try a little experiment - try and find out how many kids parents are wroking in the private sector i.e. not employed by the government, or on benefits -either full benefit, or the 16 hours family tax credit. The numbers are nuts at my kids - rough guesstimate is only 20%

That's 20% working in the private sector.

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The problem with salisbury is that 90% of houses and flats are cack, so if yours isn't, you should be fine selling. In fact if its any good I will probably be viewing myself!! When it comes to pricing, look at all the other houses, pretend you are a buyer and compare yours. Then price accordingly, slightly lower if you want a quick sale. Thats how I sold mine a few months ago, and it went in 2 weeks. Its much easier selling and buying again in a falling or static market than in a rising one. If you wait for a rising market the property you want to buy is also going to rise, perhaps faster than yours if its more expensive. Good luck.

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The problem with salisbury is that 90% of houses and flats are cack, so if yours isn't, you should be fine selling. In fact if its any good I will probably be viewing myself!! When it comes to pricing, look at all the other houses, pretend you are a buyer and compare yours. Then price accordingly, slightly lower if you want a quick sale. Thats how I sold mine a few months ago, and it went in 2 weeks. Its much easier selling and buying again in a falling or static market than in a rising one. If you wait for a rising market the property you want to buy is also going to rise, perhaps faster than yours if its more expensive. Good luck.

Good stuff aeris, have spent last 2 weeks tarting my place up just for you!

To throw another query out generally, what do local housepricecrashers think of the pros and cons of the Wyndham Park area of town? I.e. Belle Vue Rd, Wyndham Terrace, Albany Road, and from there towards the ring road? mrs Forres very keen, looks all v plush this time of year... potentially a good balance between centrality and quiet neighborliness .... surely there must be a down side ...

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Good stuff aeris, have spent last 2 weeks tarting my place up just for you!

To throw another query out generally, what do local housepricecrashers think of the pros and cons of the Wyndham Park area of town? I.e. Belle Vue Rd, Wyndham Terrace, Albany Road, and from there towards the ring road? mrs Forres very keen, looks all v plush this time of year... potentially a good balance between centrality and quiet neighborliness .... surely there must be a down side ...

The only issue around there that I know of is parking can be tricky. However, you're near the Wyndham Arms for some proper beer, Bedwin Street chippy and Popeye's for a dodgy kebab so overall it's a winner :)

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Might just be me looking more closely, or are there currently way more 2/3 beds in Salisbury on RM between 160 and 200 than usual... anyone know it it is possible to obtain the stats on this somehow thru Property Bee ? Seem to be a lot of v optimistic asking prices, especially by one particular agency that I won't name but which seems to have caps lock Tourrette's on all of its ads.

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Remember Old Sarum. Relocation is a killer.

As in, our forebears shouldn't have fired that arrow ?

Or our current city planners shouldn't have metaphorically fired it back (only missed, to stick all the new slave boxes on the barren plain by a pig farm and a runway...) ;)

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Decided not to sell up in the end. Market in Salisbury seems to have recently had a spike of 3 beds in the 160-200k range, equivalent to mine, and there is no possible reason to think there is a surge in buyers to match.

Looks to me like there is quite a fall going on after a modest Spring bounce, with the summer recess slowing things still further. EAs I have spoken to have made no attempt to disabuse me of this notion. I will be very happy to sell below the 2007 price I paid, but I don't particularly want to "trade up" in a falling market, doubling my debt to boot! suppose selling to go into rented might be a good idea though whilst the Euro slo-mo car crash continues.

Seems to be a bit of a price war at the moment in the Wyndham Park area, I've noticed several instances of similar properties undercutting One another in rapid succession.

Any interesting anecdotals experienced/ spotted in Salisbury recently?

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Decided not to sell up in the end. Market in Salisbury seems to have recently had a spike of 3 beds in the 160-200k range, equivalent to mine, and there is no possible reason to think there is a surge in buyers to match.

Looks to me like there is quite a fall going on after a modest Spring bounce, with the summer recess slowing things still further. EAs I have spoken to have made no attempt to disabuse me of this notion. I will be very happy to sell below the 2007 price I paid, but I don't particularly want to "trade up" in a falling market, doubling my debt to boot! suppose selling to go into rented might be a good idea though whilst the Euro slo-mo car crash continues.

Seems to be a bit of a price war at the moment in the Wyndham Park area, I've noticed several instances of similar properties undercutting One another in rapid succession.

Any interesting anecdotals experienced/ spotted in Salisbury recently?

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I have noticed quite a few new properties coming on in the last 4 - 6 weeks especially, and I have also noticed a lot of price cuts. But that is against situation where there had previously been hardly any coming on. So I can more or less confirm your analysis. I have also heard that the national chains are overpricing to get market share (see Rics estate agents comments for salisbury June) and then they will probably "manage expectations".

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The market has definitely frozen up.

I have been watching it since early this year and there was a flurry of sales around early spring. Since then, however, more and more properties have come on to the market under the 300k mark (and particularly below 200k) and nothing is shifting.

Some prices have been reduced but there is a lot of overpriced crap on there that frankly has very little chance of selling at anywhere near the asking price.

If you look at the figures for number of properties on the market in search on Rightmove, there are over 300 on the market under 300k. I have never seen a number that high.

We have been watching the Salisbury market for a very long time, hoping for a slow down or slump. This is definitely a significant slow down.

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