Jump to content
House Price Crash Forum

Tunbridge Wells - Going Down


Recommended Posts

Even so, £325k for a 3 bed semi in Tunbridge Wells is madness. IIRC, Beltring Road is in the Southborough meets Culverden area, so hardly the best part of town, and a nightmare if you need to commute by train every day.

The fact someone paid £420k for anything on that road is just staggering.

Yup, you're right, though I guess the proximity to practically all the main secondary schools is the draw. Still, ours is not to question why, ours is to laugh that the prices are dropping so rapidly! :lol:

Link to post
Share on other sites
  • Replies 63
  • Created
  • Last Reply

Top Posters In This Topic

New build 2 flats next to St James school which began life at £285k, before dropping to £245k are advertised in this weeks courier at starting at £199k!!! thats a massive drop! These particular flats remind my husband of an insane asylum, but whether that says something about him or the flats I don't know! :blink:

Link to post
Share on other sites
New build 2 flats next to St James school which began life at £285k, before dropping to £245k are advertised in this weeks courier at starting at £199k!!! thats a massive drop!  These particular flats remind my husband of an insane asylum, but whether that says something about him or the flats I don't know! :blink:

Hoorah! Good news indeed FTB!

Thank God the great British public is finally starting to realize just how much your average two-bed flat / asylum is worth - about £60K, I reckon. I mean, what do you think it's rebuild value it? Not much more than that, I shouldn't think.

Bring on the crash, I say!

p.s. did you notice that 'TW Flats' has opened up a subdivision 'TW Terraces' - they must be having a laugh! :lol::lol:

Link to post
Share on other sites
I guess it would really appeal to the rail enthusiast.

Wow, imagine having your own, REAL train set in the back garden?

Why haven't the estate agents pushed this as a selling point?

Just imagine, you could invite all your trainspotting friends around to wait for the 16:22 to London Waterloo.

Only problem is in a bust, you can't give places like this away.

And there is a distinct certainty that the 16:22 to Waterloo or some nuclear flask train will one day land in your garden!

Link to post
Share on other sites

Did you see this one? What's wrong with it, I wonder?

http://www.bracketts.co.uk/property_detail...ID=10596&order=

At 160K I'm almost tempted, even if it does need work (well, actually, I'm sort of looking for a project).

Last house to sell in the same row went for £185K in October 2002.

So, erm, is that, like NEGATIVE EQUITY?

Link to post
Share on other sites
Did you see this one? What's wrong with it, I wonder?

http://www.bracketts.co.uk/property_detail...ID=10596&order=

At 160K I'm almost tempted, even if it does need work (well, actually, I'm sort of looking for a project).

Last house to sell in the same row went for £185K in October 2002.

So, erm, is that, like NEGATIVE EQUITY?

Its a very noisy street, particularly when events are on in Dunorlan. St. Peter's is not the best school in town and that counts for a lot in RTW. Are there any period details left?

Link to post
Share on other sites
  • 3 weeks later...

I know that house prices are quite blatantly falling in Tunbridge Wells now, so there's not an awful lot of point in continuing the thread, but I still felt obliged to point out the drop in asking price for this place, given that it's the offices of the UKIP.

I remember seeing it go on about a year ago for £410K. So it really made me laugh to see it's now on at £349K. Not that anyone in their right minds would even buy it for that, of course...

http://www.vebra.com/home/search/vdetails....702&pid=8887908

Link to post
Share on other sites
I know that house prices are quite blatantly falling in Tunbridge Wells now, so there's not an awful lot of point in continuing the thread, but I still felt obliged to point out the drop in asking price for this place, given that it's the offices of the UKIP.

I remember seeing it go on about a year ago for £410K. So it really made me laugh to see it's now on at £349K. Not that anyone in their right minds would even buy it for that, of course...

http://www.vebra.com/home/search/vdetails....702&pid=8887908

Love the garden, it's so bijou... :D

Link to post
Share on other sites
  • 4 weeks later...

Check this one out:

http://www.findaproperty.co.uk/agent.aspx?...prop&pid=331910

I drive past it regularly and it's a nice enough house. so what's special about it I hear you ask?

Well, the one next to it was also up for sale but when I went past it the other day, I noticed that the sign was down. They must have given up.

It'll be interesting to see what happens to this one.

Link to post
Share on other sites

Check this one out:

http://www.findaproperty.co.uk/agent.aspx?...prop&pid=331910

I drive past it regularly and it's a nice enough house. so what's special about it I hear you ask?

Well, the one next to it was also up for sale but when I went past it the other day, I noticed that the sign was down. They must have given up.

It'll be interesting to see what happens to this one.

2 bed terrace for 9X average wages. <_< At least its on the Kentish side of the village. :D

Link to post
Share on other sites

yeah, keep your eye on it and keep us posted.

wasn't the one next door on at £255K with wood and pilcher? i guess the fact it was 'end of terrace' warranted the extra £30K!!

or maybe it's because it went on before the market stalled - as far as i can tell practically nothing is selling in tunbridge wells. i'll be curious to see when vendors finally accept it's because their houses are totally overpriced? i reckon the next 6 months are going to be very interesting...

Link to post
Share on other sites

This property came on the market around 6 months ago at £279,000 - it's now on at £219,000:

http://www.rightmove.co.uk/viewdetails-753...a_n=11&tr_t=buy

Admittedly, these properties were totally overpriced to start with, but that's still an average reduction of 10K per month... I think it's definitely underway...

I'd just like to add a postscript to that entry - the house eventually went under offer at £219K, but I had to chortle (rather unkindly) to myself the other day to see that it's back on again with a different EA at £200K...

http://www.rightmove.co.uk/viewdetails-992...pa_n=3&tr_t=buy

Of course, children, we must remember that THERE IS NO HOUSE PRICE CRASH HAPPENING IN THE UK RIGHT NOW - as any good EA, Building Society, Chartered Surveyor will tell you... :lol::lol::lol:

My God! I nearly died when I saw this one on at £325K:

http://www.rightmove.co.uk/viewdetails-913...pa_n=1&tr_t=buy

The last house to sell on that street (on 30/11/2004, according to 'upmystreet') sold for £420K which, even if it did have a bigger garden, is a hell of a drop in less than a year.

:o:o

This one has dropped further, too...

http://www.andrewsonline.co.uk/buyers/prop...ls.asp?id=19431

I don't know what's happening around here, I tell you...

Link to post
Share on other sites

I'd just like to add a postscript to that entry - the house eventually went under offer at £219K, but I had to chortle (rather unkindly) to myself the other day to see that it's back on again with a different EA at £200K...

http://www.rightmove.co.uk/viewdetails-992...pa_n=3&tr_t=buy

Overpriced still. 200K to sit in a hole. Do you get to back on to the private "lake" for that? I doubt it.

Of course, children, we must remember that THERE IS NO HOUSE PRICE CRASH HAPPENING IN THE UK RIGHT NOW - as any good EA, Building Society, Chartered Surveyor will tell you... :lol::lol::lol:

This one has dropped further, too...

http://www.andrewsonline.co.uk/buyers/prop...ls.asp?id=19431

I don't know what's happening around here, I tell you...

Beltring Road, hmmm <_< Still too much at 315K.

Link to post
Share on other sites
  • 3 weeks later...

My God! I nearly died when I saw this one on at £325K:

http://www.rightmove.co.uk/viewdetails-913...pa_n=1&tr_t=buy

The last house to sell on that street (on 30/11/2004, according to 'upmystreet') sold for £420K which, even if it did have a bigger garden, is a hell of a drop in less than a year.

:o:o

And it's just dropped further from £310K to £298K...

http://www.andrewsonline.co.uk/buyers/prop...ls.asp?id=19431

It makes me weep to think that a neighbour of mine, who is also renting at present, was telling me only this morning that she's just put an offer on a place in Tunbridge Wells. She thinks it's a good time to negotiate and that prices won't drop any further. Oh well, she can't say I didn't warn her...

Actually, I'll be watching this one with interest:

Sale Agreed at £285K - unfortunately, the price doesn't show on the link, so you'll have to trust me (but, seriously, would I lie to you?)

http://www.sumnerpridham.co.uk/results_fin...nited%20Kingdom

This one, however, has just gone on in the same road for £240K (still hideously overpriced, of course, but a steep drop nonetheless):

http://www.andrewsonline.co.uk/buyers/prop...ls.asp?id=21746

I wonder whether the first one will be back on the market soon...

Link to post
Share on other sites

My dad is selling his house and is about to drop the asking price.

He is selling because my mum died in April and he wants to move out and away from the memories and I don't blame him!

Although the 300% profit he will make sounds good in theory, in practise he recently received a pensions projection that when he retires in 10 years or so he will get £100 a week. So he'll need all that profit to invest to live on.

Its a 3/4 bed house near a good school for £325k, I think hes going to drop it to £310k and hope someone offers £300k.

Link to post
Share on other sites

My dad is selling his house and is about to drop the asking price.

He is selling because my mum died in April and he wants to move out and away from the memories and I don't blame him!

Although the 300% profit he will make sounds good in theory, in practise he recently received a pensions projection that when he retires in 10 years or so he will get £100 a week. So he'll need all that profit to invest to live on.

Its a 3/4 bed house near a good school for £325k, I think hes going to drop it to £310k and hope someone offers £300k.

This could be a major contributing factor to the "stickiness" of sellers prices. People using their homes as their pension and then downgrading to a smaller home. They won't have to sell until they run out of money. Sorry to here about your dad's situation. I don't think he is alone in his pension projection.

Link to post
Share on other sites
  • 2 weeks later...

This is a great site, glad I stumbled accross it!

I don't have the link, but it's property offered through a local estate agent in Godalming, Surrey (it's one example of many, but more surprising because it only took two days to come down in price). Three bed semi with an extra room squeezed out of a garage...oh and a lean to cheapo conservatory. All held together by council bricks and stye in the midst of similar houses, on for £265k one day, then £249k 48 hours later! The agent told me this was because a developer had done a 'deal' with the vendor and was now selling it on in his name...yeah, whatever. That's a record isn't it...a two day drop of £15k???? (I might add that it was and still is vastly overpriced from day one anyway!

Link to post
Share on other sites

I have been out of touch with the T Wells market for a while, but had a look when I was down there on the weekend.

The asking price for flats appears to be rocketing. I saw a number of 1 bed flats in the £180-£200k range. This puts T Wells more expensive than Sevenoaks as well traditionally more expensive parts of London.

This is surely a high water mark for this area. There was also some two bed flats with very high asking prices.

By contrast, houses seem to have moved downwards quite a lot. It is strange that you can buy a two-bed terraced house in a reasonable road for less than a 1 bed flat nearby.

The higher end of the market seems to be holding up quite well, but the £150k-£450k houses seem to be falling quickly.

It would be interesting to see the prices that are actually being achieved - especially for the flats.

Link to post
Share on other sites

I have been out of touch with the T Wells market for a while, but had a look when I was down there on the weekend.

The asking price for flats appears to be rocketing. I saw a number of 1 bed flats in the £180-£200k range. This puts T Wells more expensive than Sevenoaks as well traditionally more expensive parts of London.

This is surely a high water mark for this area. There was also some two bed flats with very high asking prices.

By contrast, houses seem to have moved downwards quite a lot. It is strange that you can buy a two-bed terraced house in a reasonable road for less than a 1 bed flat nearby.

The higher end of the market seems to be holding up quite well, but the £150k-£450k houses seem to be falling quickly.

It would be interesting to see the prices that are actually being achieved - especially for the flats.

I have to say that, from what I've seen, even the market for flats is falling now.

Granted, they are still hugely overpriced. This, I would suggest, is a symptom of developers trying to cash-in on the downsizing of empty nesters (i.e. people in their 50s and 60s selling up their big, 5-bed family homes for £500K and buying an easy-maintainance 'luxury', 2-bed flat in the town centre for around £300K, thus freeing up some extra cash for their retirement - a huge percent of the population of TW). But, the market has been flooded with these kinds of properties and isn't really holding out.

Grove Hill House, near where I live, launched its 2-bed flats about a year ago for £325K - they're now on at £285K, and I bet the developers would accept a much lower offer. Of course, they're still overpriced, but that's a saving of £40K for waiting a year - and just think what kind of a place you could rent for £3,000 PCM! I'm paying just over £1,000 for a 3-bed house in a nice area!

But, as I (and, I'm pleased to see, Gordon Brown) keep telling everyone, THERE IS NO HOUSE PRICE CRASH, THE ECONOMY IS IN GOOD SHAPE; THERE IS NO HOUSE PRICE CRASH, THE ECONOMY IS IN GOOD SHAPE (repeat to fade)

:lol::lol::lol::lol:

Link to post
Share on other sites

I have to say that, from what I've seen, even the market for flats is falling now.

Granted, they are still hugely overpriced. This, I would suggest, is a symptom of developers trying to cash-in on the downsizing of empty nesters (i.e. people in their 50s and 60s selling up their big, 5-bed family homes for £500K and buying an easy-maintainance 'luxury', 2-bed flat in the town centre for around £300K, thus freeing up some extra cash for their retirement - a huge percent of the population of TW). But, the market has been flooded with these kinds of properties and isn't really holding out.

Grove Hill House, near where I live, launched its 2-bed flats about a year ago for £325K - they're now on at £285K, and I bet the developers would accept a much lower offer. Of course, they're still overpriced, but that's a saving of £40K for waiting a year - and just think what kind of a place you could rent for £3,000 PCM! I'm paying just over £1,000 for a 3-bed house in a nice area!

But, as I (and, I'm pleased to see, Gordon Brown) keep telling everyone, THERE IS NO HOUSE PRICE CRASH, THE ECONOMY IS IN GOOD SHAPE; THERE IS NO HOUSE PRICE CRASH, THE ECONOMY IS IN GOOD SHAPE (repeat to fade)

:lol::lol::lol::lol:

It is interesting to hear about those Grove Hill House flats, I always thought that they would struggle. I think that the new build and 'luxury' conversions are overpriced in all areas.

What surprised me in TW was the price of the standard, older flats. The £180k+ 1 bedders that I saw were all older conversions, reasonable size, but the sort of flats that were on for about £120k only two years ago. The equivalent flats in Sevenoaks were about £150k two years ago, and have maybe gone up £5k in that time!

Link to post
Share on other sites
  • 2 months later...

Whoops, seem to have let this thread slip a bit. Must have been too busy watching the prices falling...

Take, for instance, this little one in the 'charming' village of Frant, which I first mentioned as having come down a whack back in September 05...

And this one (in a village called Frant, just outside TW) went on at £455K and is now £379K

http://www.rightmove.co.uk/viewdetails-387...pa_n=1&tr_t=buy

These seem to me like BIG drops in asking price. And they're still not selling.

Almost seems like there might be a HPC on the horizon...

... is back on the market for even less:

http://www.rightmove.co.uk/viewdetails-111...pa_n=1&tr_t=buy

Ah, diddums.

Actually, even I hadn't anticipated falls of this level.

Sorry, what I meant to say was: 'No house price crash to see here, folks, move along now, move along...'

Further and further, faster and faster:

These three new-builds have been on for over 6 months. They're now selling for £190K, but if you scroll down the link, you can see that they were originally on at £250K. Blimey! :lol::lol::lol:

http://cslinter.net/ibbett/customer/proper....php?id=6000912

And these babies STILL haven't sold:

http://www.rightmove.co.uk/viewdetails-963...pa_n=2&tr_t=buy

Hey, wait a minute, I have an idea: DROP THE FRI**ING PRICE, YOU DUMBA**ES!!

Link to post
Share on other sites

I wonder which of these three-bed semis, in the same street, will sell first:

http://www.rightmove.co.uk/viewdetails-100...pa_n=2&tr_t=buy

http://www.rightmove.co.uk/viewdetails-110...pa_n=9&tr_t=buy

hmm... i'd pay the extra £65K for an extended kitchen and a 'converted garage' (is that a shed?), wouldn't you?

Edited by Stressed-Out
Link to post
Share on other sites

We recently sold my Gran's 3-bed semi in nearby by Borough Green for 240k. 3 agents valued it (240, 250 an 265). We went with the most bullish valuation and had to drop the price. Wish we'd gone with the most accurate valuation.

The thread about it is here - http://www.housepricecrash.co.uk/forum/ind...l=borough+green -

It's not that interesting unless you're local, but nevertheless, the conclusion we drew was that disaster hasn't yet struck the area, though it isn't exactly flying. Should be picking up around this time of year.

Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
  • Recently Browsing   0 members

    No registered users viewing this page.

  • 440 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%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.