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olliegog

Spring Bounce In South Shropshire

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just anecdotal evidence that there seems to be a mad rush to buy - is it interest rates, is it the belief that they think it is all over now, is it fear of inflation from STR people, but two houses near me have gone SSTC within a couple of weeks of being marketed. Both large family homes but nothing special except for the area they are in, no land etc - one on for 450K and the other 525K. Now these are not buy to let or FTB territory and certainly not local wage buyers (must be blow ins buying them) - I will track them and see if the sale goes through and for how much ;)

editted to add linky

http://www.rightmove.co.uk/property-for-sa...y-25988429.html

Edited by olliegog

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just anecdotal evidence that there seems to be a mad rush to buy - is it interest rates, is it the belief that they think it is all over now, is it fear of inflation from STR people, but two houses near me have gone SSTC within a couple of weeks of being marketed. Both large family homes but nothing special except for the area they are in, no land etc - one on for 450K and the other 525K. Now these are not buy to let or FTB territory and certainly not local wage buyers (must be blow ins buying them) - I will track them and see if the sale goes through and for how much ;)

editted to add linky

http://www.rightmove.co.uk/property-for-sa...y-25988429.html

Compared to other parts of the county, South Shropshire seems to have very few properties on the market in the first place! Certainly very few (what I would deem) affordable properties anyway. I think demand for property is beginning to rise in Shropshire, but the number of houses for sale is still low and this is potentially driving sales and prices up (albeit slightly). However, apart from the cash wealthy (often "immigrants" from other parts of the country) I can't see the average Salopian being able to afford houses at the current prices, now bearing in mind difficulty in getting cheap credit. Are you finding that the more expensive houses are selling, whilst smaller (2-3 bed) and cheaper properties are not? That would indicate that "normal" Salopians cannot afford the current asking prices, with the wealthier sort able to snap up the more expensive stuff.

Edit: Just clicked onto your Rightmove link - that is one hell of a house!! I'd buy it if I had the money! :lol: In this instance I think it may be a case of a one-off special property being sold to a wealthy local who has had an eye on it for a while!

Edited by Mr Deflation

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agreed lovely house - but half a million! as you say the cheaper end of the market is selling - i.e. sub 150K most probably for investment or possibly FTBs but the middle range 150K to 300K is a bit stickier. There are not a lot of houses out in the villages for sale anyway so supply is tight and they are all being bought by incomers who could sell a terraced in London and buy a house for half a million. More 4 by 4s to roar round the narrow lanes. There is another from this area which has been reduced and to me is better for the extra 70K (if you have it of course)

link:

http://www.rightmove.co.uk/property-for-sa...y-10041843.html

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I've just been on Rightmove and there's just recently (past few days) been a small flurry of houses been put on the market. It may well be that the bull trap has come to its conclusion in Shropshire and sellers are putting their houses on the market in the (false) belief that the market has bottomed out and is about to recover properly. Of course with unemployment rising, wages being kept low and credit hard to come by, these houses are going to be hard to sell, except to those who think the market has bottomed out who also have cash at hand.

Here's to falling prices in the coming months! (Hopefully!) On that note - a couple of properties I'm keeping an eye on have had asking price reductions in recent days, though one - a new build in Telford :rolleyes: - has been put up in price! Some EAs are utter idiots.

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just anecdotal evidence that there seems to be a mad rush to buy - is it interest rates, is it the belief that they think it is all over now, is it fear of inflation from STR people, but two houses near me have gone SSTC within a couple of weeks of being marketed. Both large family homes but nothing special except for the area they are in, no land etc - one on for 450K and the other 525K. Now these are not buy to let or FTB territory and certainly not local wage buyers (must be blow ins buying them) - I will track them and see if the sale goes through and for how much ;)

editted to add linky

http://www.rightmove.co.uk/property-for-sa...y-25988429.html

God, that's so cheap. You'd be lucky to get a sad old bungalow for that in some parts of Cornwall.

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God, that's so cheap. You'd be lucky to get a sad old bungalow for that in some parts of Cornwall.

ah but you have the sea and the sand and the tourists! It is not cheap in terms of what you are getting for the money - all houses are overpriced and none more so than in the South West. Personally I would rather pay half a million (if I had it) for this lovely house than a terraced in Brixton London as it is all about quality of life. No wonder we have a lot of Southerners moving out here. :o

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just anecdotal evidence that there seems to be a mad rush to buy - is it interest rates, is it the belief that they think it is all over now, is it fear of inflation from STR people, but two houses near me have gone SSTC within a couple of weeks of being marketed. Both large family homes but nothing special except for the area they are in, no land etc - one on for 450K and the other 525K. Now these are not buy to let or FTB territory and certainly not local wage buyers (must be blow ins buying them) - I will track them and see if the sale goes through and for how much ;)

editted to add linky

http://www.rightmove.co.uk/property-for-sa...y-25988429.html

this one now sold on LR for 517,500 pounds =- the others seem to have 'disappeared' despite both being 'SSTC' broken chains maybe.

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