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Salisbury Anyone?


babnye
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No action on the Salisbury board for a while, so here are my observations: I mainly keep an eye on SP3 area which is west and north west of Salisbury. What I am seeing as May develops is some activity right at the top of the market (£750k+), and lots of price reductions at the lower end of the market with lots of stale inventory that's been hanging around for years now. As an example there is a small estate of "new" builds in Dinton which have remained unsold for approx 3 years now, the 3 bedders are now down to £189K, I think they started off in the £249-279k bracket.

At the top end, when prices do fall, they are mainly taking off reasonable £50K+ chunks at each reduction.

The newbuild shared ownership stuff in Tisbury has been repriced (ie with a smaller share of "ownership" for sale)as there was no interest at the original price. The other stuff on the estate is now showing price reductions on rightmove even though the stuff isn't built yet.

The sub-optimal BTL type properties in Shrewton and Tisbury don't seem to be being bought by BTLetters anymore, they just sit there month after move on rightmove with the asking prices sliding steadily downwards.

Speaking to friends and locals, what I am hearing echos what has been said on the main board, there is definitely a different feeling in the air - people I know of who have been actively house searching for ages have now almost universally gone "stuff it" and have given up. Two couples I know who got into small time BTL have either sold up or else are trying to with significant losses. Seems to me people are falling out of love with houses.

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Thank you hellsbells.

My property report on salisbury over the last few months. I cover the price range £0 to 240k Good quality property sells quickly as long as its not overpriced. A lot of property tends to sit there, and I regularly see small 5k price drops. Sometimes 10k. Its a slow business, but you have to be careful in offers; if they can't sell something at a given price, you may not be able to when you come to sell.

Around march there was a sudden huge influx of 1 bed properties, considering they are not that common it probably means btl portfolio selling. I believe they are still around.

I am absolutely confiident that the price of flats has fallen considerably, houses not so much.

Price of a two bed semi is almost identical to what it was 6 years ago, maybe even longer. A flat that was 175k in 2007 would be nearer 150k now. I nearly bought one in 07 at 162k, I know for a fact that in the same block same condition, one went on the market at 135k, thats the most extreme example. I also know the person I was in competition to buy it was a BTL guy, because the estate agent told me, although whether he was the actual buyer in the end I am not absolutely certain. Very likely though.

(thankyou property bee)

There is not much coming on the market, should anything happen to change that I would see price falls. Other than that, I have no idea on the future direction.

Happy house hunting!!

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I never get the point of a 4 bedder with a pokey little back yard instead of a proper garden. Who buys this shit?

I don't get it either. I see lots of new builds in the north wiltshire area where there are 4 and 5 bed houses with literally not enough room in the garden to swing a cat. It's ludicrous!

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  • 5 months later...

Not a lot going on is there?

There were a handful of transaction on my street at the start of year which is only noticable as there have been so few since 2003ish.

Capita SIPP (what was PPML) is to close the site in 12 months. 350ish redundancy

FP (as was) is laying off 200+ before end of the month.

HPA looks like its going very soon - or at last 500 jobs.

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They are still recruiting at the moment though for Porton based jobs?

They'll recruit til its shut. The low end lab jobs have high turnover.

I have no inside info on the HPA/Porton other than knowing that the infrastructure is knacked and need knocking down.

There's a big, empty ex Pfizer building in Harlow, near on of the other HPA sites, that needs filling and can be bought very cheaply.

There's a lot of unemployed chemists in that part of the world at the moment - a lot of private sector pharma have shut near there.

There a not a lot near Porton and its very hard to get people to move to this part of the country and even harder to commute here.

I am aware there been a political 'Wait for a year to review extra info'. Unfortunately, there does not to be extra info.

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They'll recruit til its shut. The low end lab jobs have high turnover.

I have no inside info on the HPA/Porton other than knowing that the infrastructure is knacked and need knocking down.

There's a big, empty ex Pfizer building in Harlow, near on of the other HPA sites, that needs filling and can be bought very cheaply.

There's a lot of unemployed chemists in that part of the world at the moment - a lot of private sector pharma have shut near there.

There a not a lot near Porton and its very hard to get people to move to this part of the country and even harder to commute here.

I am aware there been a political 'Wait for a year to review extra info'. Unfortunately, there does not to be extra info.

There's lots of shiny infrastructure and jobs over the fence though, if you get my drift. :rolleyes:

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  • 6 months later...

Anyone still watching the Salisbury market? It is the worst I have ever seen it in terms of the quality of property coming on.

Sadly, there has also clearly been a rise in prices. Tat that wouldn't go for 230 last year is being put on and snapped up for over 270.

Very depressing.

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  • 3 weeks later...

Anyone still watching the Salisbury market? It is the worst I have ever seen it in terms of the quality of property coming on.

Sadly, there has also clearly been a rise in prices. Tat that wouldn't go for 230 last year is being put on and snapped up for over 270.

Very depressing.

I have to agree - it's very depressing at the moment. Can only hope the tougher mortgage rules will start to have an effect on asking prices soon.

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  • 5 weeks later...

They'll recruit til its shut. The low end lab jobs have high turnover.

I have no inside info on the HPA/Porton other than knowing that the infrastructure is knacked and need knocking down.

There's a big, empty ex Pfizer building in Harlow, near on of the other HPA sites, that needs filling and can be bought very cheaply.

There's a lot of unemployed chemists in that part of the world at the moment - a lot of private sector pharma have shut near there.

There a not a lot near Porton and its very hard to get people to move to this part of the country and even harder to commute here.

I am aware there been a political 'Wait for a year to review extra info'. Unfortunately, there does not to be extra info.

I guessed so:

http://www.salisburyjournal.co.uk/news/salisbury/salisburynews/11344443.PHE_Porton_to_move_to_Essex_with_loss_of_550_jobs/?ref=var_0

That's a a lot of jobs.

You've the Capita SIPP site shutting in a month or two.

FP, as was, is lurching towards going.

The change in pensions and annuity really ought to have finished the company but still it struggles on.

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  • 6 months later...

This is utterly depressing. I thought things were definitely on the turn in the SP3 postcode but of the sales I have personal knowledge of in the last 5 months:

1. Private sale by flipper adding approx £100K onto their purchase price 18 months before- sold to BTLer and now rented out.

2. Tisbury auction 2 bedder ugly house on main street brought by BTLer and up for rent.

3. Tisbury 3 bed repo brought by BTLer and up for rent.

4. Tisbury 3 bed character cottage sold in a week and new owner seems to use as a weekend place?

5. Chilmark big 4 bedder sold over Christmas and now up for rent.

6. Fovant 3 bedder probate character cottage sold in 2 weeks - needs loads of work so owner live in or rent out status unknown as yet.

7. Fovant 4 bedder with some land - bought by locals for their "fovever home", busy redeveloping the site to put as much "house" on the site as they can and reworking the driveways to service 2 independent properties. I'll give it 2 years until that 1 large family house is 2 or 3 pokey properties.

I feel more depressed that ever before about where all of this is leading. The tide hasn't turned at all it seems.

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  • 1 month later...

I am sniffing around the Salisbury area to buy. Any advice would be most welcome, we are thinking of moving to one of the smaller villages to the East (Better proximity for commute) with a baby under twelve months.

I must add, some of the new build housing stock is utterly awful and there is a lot of it.

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  • 2 months later...

Rightmove sp3 search this morning - other than 3 parcels of agricultural land that came on the market on Friday, the first page and a half of listings are all reductions. Yay!

There's just no money to support housing in this area.

The demographics are terrible - people are moving out rather than in.

And those people in the area are barely working.

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Oh well, a few years longer than I expeted but D day has arrived:

http://www.salisburyjournal.co.uk/news/13333157.Jobs_to_go_as_Aviva_axes_Salisbury_offices/

450 of the jobs left.

They had ~1,000 a few years ago.

That adds up to about 450 + 1000 indirect jobs being lost.

Porton:

http://www.salisburyjournal.co.uk/news/13351584.John_Glen_demands_a_decision_on_the_future_of_Porton_Down_during_parliamentary_debate/

I still expect the site to go.

The company operating James Hay + now ex-Capita SIPP book is stil losing money.

It would be a horrendous year if 2015 saw FP, Capita/James Hay and HPA go - but its not outside the realm of possibilities.

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  • 2 months later...

They'll recruit til its shut. The low end lab jobs have high turnover.

I have no inside info on the HPA/Porton other than knowing that the infrastructure is knacked and need knocking down.

There's a big, empty ex Pfizer building in Harlow, near on of the other HPA sites, that needs filling and can be bought very cheaply.

There's a lot of unemployed chemists in that part of the world at the moment - a lot of private sector pharma have shut near there.

There a not a lot near Porton and its very hard to get people to move to this part of the country and even harder to commute here.

I am aware there been a political 'Wait for a year to review extra info'. Unfortunately, there does not to be extra info.

God Im the Nostramus of the Wyle!

http://www.salisburyjournal.co.uk/news/13766654.Porton_Down_jobs_to_move_to_Essex_as_decision_on_PHE_is_finally_made/

It all seems to be catching up with Salisbury.

FP shutting down - about 600-800 jobs to go.

HPA - 600.

Even HPI - 90.

James Hay is the last medium to large employer standing - and it does not look good there either.

These are significant numbers. Remember Salisbury is a medium to small town.

The bigger problem is that there is nowhere commutable for people in the area to sanely to commute too.

Bstoke + Soton are cored too.

Bmouth has JP Morgan and thats all.

Just publci sector jobs left in the area, which are going to be further cuts and no wage increases.

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That empty, world class Pziffer site (now GSK) too cheap and tempting.

'The government said the new PHE facility - to be based on the site currently owned by GlaxoSmithKline - would create a leading centre for research, health improvement and protection allowing the continued development of work on international health threats, such as Ebola.'

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http://www.salisburyjournal.co.uk/business/business/13767318.Jobs_boost_for_city/?ref=mr&lp=8

'“Salisbury is a destination city that people want to come and visit and one that has a rich and varied retail offer and the arrival of new businesses here at the mall has to be good news for Salisbury and for its city centre and we’re pleased to have played our part by investing in our retail infrastructure.'

Not its not. The local retail destinations are Bristol and Soton.

Half the retailers left in SP1 would give pay you to take their lease off them.

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  • 2 months later...

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