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vwphil

Graphs Of Cornish Market Trends 95-05

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I saw evidence of this when I was in Wadebridge recently. 90% of the properties in EAs windows had new prices stuck over the original prices. Everywhere I drove I saw For Sale signs and no sign of any Sold.

Of course now we've had a quarter point IR cut they'll be putting the prices back up again because now people are £15 richer every month they can afford more :lol:

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Yes its a forest of for sale signs out there lol

I think its going to be really bad down here.

Several reasons

Very low local wages 15K per year average

No more people coming in from the south east

Lots of locals MEW to the hilt, i can see alot of repos happening

Lots of houses turned into B&B to support mortgage payments and not enough tourists to go round they have been complaining in the local press about lack of trade and how alot may have to sell up.

Phil

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Yes its a forest of for sale signs out there lol

I think its going to be really bad down here.

Several reasons

Very low local wages 15K per year average

No more people coming in from the south east

Lots of locals MEW to the hilt, i can see alot of repos happening

Lots of houses turned into B&B to support mortgage payments and not enough tourists to go round they have been complaining in the local press about lack of trade and how alot may have to sell up.

Phil

I've also heard that tourism is down and this is the number one input to the Cornish economy. House prices in Cornwall are so out of reach of people on local wages, the holiday home bonanza that has taken place has driven up prices of all the houses, even those that are never likely to be bought as holiday homes. Starter 2-bed houses going for £180K when local wages average £15K (and that would be doing well) - it simply doesn't add up. Prices in Cornwall are going to have to come down 40%

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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