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Guest Fedup

Maidstone

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Guest Fedup

As far as I can see, prices in Maidstone are ridiculously high, with tiny "3 bed" semis with paper thin walls going for £180-200k still, and rents for such places being roughly £900. I realise not everywhere will crash at the same rate or amount, so is Maidstone one of those places? If so, why? It still takes an hour to get to London by train and most of it is pretty grim.

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As far as I can see, prices in Maidstone are ridiculously high, with tiny "3 bed" semis with paper thin walls going for £180-200k still, and rents for such places being roughly £900. I realise not everywhere will crash at the same rate or amount, so is Maidstone one of those places? If so, why? It still takes an hour to get to London by train and most of it is pretty grim.

Sibley lives there and has convinced everyone that all is well with his blithe spirit and mindless optimism?

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Guest Fedup
Sibley lives there and has convinced everyone that all is well with his blithe spirit and mindless optimism?

Well he hasn't convinced me! I would be curious to know WHY prices are relatively high though. The place has no redeeming qualities at all and i'm just here due to work.

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It puzzles me too-it's not exactly prime commuter territory, although a fair amount of people who live their work in the city. There are a lot of good schools in Maidstone though and the type of houses you describe are bog standard family homes-albeit they tend to be relatively new homes and on the smaller side. They are coming down though-I would say they are probably at 2005 prices at present.

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Take the villages on the outskirts like Yalding, Collier street and Loose and you will see prices are still at 2007 levels and rising.

Yalding : Of the last 5 sales , 3 made a loss .

http://www.houseprices.co.uk/e.php?q=51%2C...18+6JN&n=10

http://www.houseprices.co.uk/e.php?q=30%2C...18+6JW&n=10

http://www.houseprices.co.uk/e.php?q=2%2C+...18+6JW&n=10

Down to 2005 prices .

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But, but, but Sibley said..............

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But, but, but Sibley said..............

Actually 11.21% of all properties sold in Maidstone as whole sold for a loss (26 out of 232 sales) .

http://www.houseprices.co.uk/e.php?q=23%2C...16+0UG&n=10

http://www.houseprices.co.uk/e.php?q=Bonnh...14+3JY&n=10

http://www.houseprices.co.uk/e.php?q=28%2C...16+8UG&n=10

http://www.houseprices.co.uk/e.php?q=4%2C+...E5+9JS&n=10

(sold for same price as 2004 sale)

http://www.houseprices.co.uk/e.php?q=37%2C...16+8BG&n=10

http://www.houseprices.co.uk/e.php?q=Flat+...16+8LZ&n=10

http://www.houseprices.co.uk/e.php?q=6%2C+...14+1EQ&n=10

http://www.houseprices.co.uk/e.php?q=16%2C...15+8XR&n=10

http://www.houseprices.co.uk/e.php?q=20%2C...16+9AS&n=10

http://www.houseprices.co.uk/e.php?q=2%2C+...16+0QP&n=10

http://www.houseprices.co.uk/e.php?q=52%2C...16+8RB&n=10

http://www.houseprices.co.uk/e.php?q=Flat+...16+0FX&n=10

http://www.houseprices.co.uk/e.php?q=Oakme...12+0PB&n=10

(made small flip profit after massive loss)

http://www.houseprices.co.uk/e.php?q=29%2C...14+5SE&n=10

http://www.houseprices.co.uk/e.php?q=Flat+...14+2LD&n=10

http://www.houseprices.co.uk/e.php?q=1%2C+...16+8TU&n=10

http://www.houseprices.co.uk/e.php?q=13%2C...12+0LT&n=10

http://www.houseprices.co.uk/e.php?q=95%2C...E5+8XR&n=10

(sold for same price as 2004 sale)

http://www.houseprices.co.uk/e.php?q=10%2C...12+0TD&n=10

http://www.houseprices.co.uk/e.php?q=63%2C...15+8NX&n=10

http://www.houseprices.co.uk/e.php?q=30%2C...14+5AJ&n=10

(sold for same price as 2007 sale)

http://www.houseprices.co.uk/e.php?q=Peace...E7+3LY&n=10

http://www.houseprices.co.uk/e.php?q=83%2C...14+4PG&n=10

http://www.houseprices.co.uk/e.php?q=47%2C...18+5EX&n=10

http://www.houseprices.co.uk/e.php?q=96%2C...15+0AT&n=10

http://www.houseprices.co.uk/e.php?q=28%2C...14+4PQ&n=10

http://www.houseprices.co.uk/e.php?q=1%2C+...15+6QX&n=10

http://www.houseprices.co.uk/e.php?q=6%2C+...17+1TQ&n=10

http://www.houseprices.co.uk/e.php?q=24%2C...14+2QQ&n=10

Edited by Dead Spider

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In May 2009 , 4 out of 29 sales made a loss = 13.79%

(published sales only went up to 22/05/09)

http://www.houseprices.co.uk/e.php?q=13%2C...16+9EF&n=10

was below the 2007 sales price

http://www.houseprices.co.uk/e.php?q=1%2C+...16+0GN&n=10

was below the 2002 sales price .

http://www.houseprices.co.uk/e.php?q=12%2C...16+8PW&n=10

was below the 2003 sales price

http://www.houseprices.co.uk/e.php?q=4%2C+...15+8NZ&n=10

was below the 2006 sales price .

Edit to add :

Out of the 409 reported sales on houseprices.co.uk (including late additions not mentioned in posts above) during the period 01.01.09 - 22.05.09 , there were 51 sales which made a loss = 12.47% .

Edited by Dead Spider

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Maybe we should have a HPC meet in Maidstone to see for ourselves.

Anyone know any good pubs?

Will you be bringing your avatar? It's a long way just to see Sibber's manor.

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Will you be bringing your avatar? It's a long way just to see Sibber's manor.

Yea, I'll phone her up and get her over to the Dog and Duck on Maidstone Hight Street on Friday. Might ask her to bring a few friends too.

You'll have to buy her a Bacardi Breezer if you want to get friendly though, she ain't cheap.

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Crikey, much to my disgust it looks like the boom is back on in Maidstone. 90% of all EA signs are of the 'SOLD' variety. The spring looks like it's been very active here. Properties on rightmove for just a handful of days and then sold. Of course, some prospective buyers won't be able to get credit so I suspect a few of these will go from STC to 'For Sale' once more, but even so, it's really quite depressing. It's the bull market that makes properties as difficult to buy as the price. In my view it's impossible to do a proper evaluation of a property within a couple of days so what chance do you have of buying it even if can raise the credit?.

In response to the previous queries about Maidstone, personally I think it's pretty nice generally. The town alternatives are Rochester, Chatham, Gillingham, Strood, Ashford and the other Medway towns which are much worse. The villages around Maidstone are great and I'd love to buy somewhere in one of those, although provided you keep away from the south-side suburbs, the outskirts of Maidstone aren't bad either.

Dave

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As far as I can see, prices in are ridiculously high (...)

The biggest landlord in Maidstone wants to sell all 700 houses there (BBC, 16 Sept 2009).

He can't sell them retail, as it would crash the local market. He has to find some big investors, and keep them renting. Will he find it? he says he is "almost" there. True?

- - -

"Bbc r4: Bye bye buy to let

Couple put 700 properties up for sale Fergus Wilson and his partner Judith were once the golden couple of the property boom. After resigning as teachers from schools in Kent they went on to build up a buy to let property empire which, at its peak it included over 900 properties with an estimated value of £250m. But they now have decided to sell up.

Go to this link, and go to 37 mins in

http://www.bbc.co.uk/iplayer/b006qps9/Wednesday/console

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In trying to understand this area , would you say that this very rough postcode map is accurate .

(I've omitted two areas as they don't seem to be "Maidstone" , ME17 appears to be South East rural , and ME18 appears to be South West rural) .

Maidstone_postcodes.jpg

Now , which areas are you actually talking about Sibley ?

Or are my assumptions totally incorrect (which may be highly possible) .

post-4353-1254078121_thumb.jpg

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In August 2009 , 3 of 34 sales made a loss = 8.82%

(published sales only went up to 25/08/09)

http://www.houseprices.co.uk/e.php?q=Flat+6%2C+Stockbury+House%2C+Marigold+Way%2C+Maidstone%2C+Kent%2C+ME16+0ZE&n=10

http://www.houseprices.co.uk/e.php?q=Crabb+Orchard%2C+Lenham+Heath+Road%2C+Lenham+Heath%2C+Maidstone%2C+Kent%2C+ME17+2BS&n=10

http://www.houseprices.co.uk/e.php?q=100%2C+Merton+Road%2C+Bearsted%2C+Maidstone%2C+Kent%2C+ME15+8LL&n=10

Interestingly , in Loose , Maidstone , there was again only one sale in August (July 1 , June 2 , May 2 , Apr 3) yet Rightmove has 85 available) .

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yep, the market in maidstone is BARKING MAD. Nobody drops their prices and you can't blame them too much, when you see these crazy f#ckers actually buying some of the damn things! Incredible to watch. Car crash tv.

That said - the wilsons are in the poop by the sounds of it (as a LOT of us on here suspected - well anyone who did the math):

http://www.dailymail.co.uk/news/article-1227624/Mortgage-arrears-couple-rode-buy-let-boom-estimated-350-000.html

350k in arrears to ONE LENDER! - WoW! - That'll be a lot of stress at breakfast. Well, probably not for a couple who are "richer" than the beckhams!! hahahahaha not in three years they won't be!!!

Whatever happened to debtors prison!? The good old days. Birch the bankers, hang the politicians and well, just generally imprison a lot of people.

rant rant rant.

finished now. thanks for listening. I feel better.

;)

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I've been watching the activity around Maidstone and it's very quiet at the moment. In fact I've bearly seen anything sell in the last couple of months. Obviously, I'd expect it to be quiet this time of year but even so. However, there are still loads of props with static prices (via property bee) that have been on the market for months, without the vendors dropping the prices 1p. I've also seen a couple of *still* unsold properties where the vendors have taken the opportuntiy to increase the price!! bouyed no doubt by the mini-boom we had here in the spring. It does make you wonder whether these people actually want to sell. I know that at least one of these props is empty.

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