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Boom Time At Seaside

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Here is a nice article in the Argus, Brighton's newspaper. It is about how the seaside towns in the UK have outperfomed the rest of the UK in house price growth. Nothing new, they have collected historic data over the past 10 years. Nothing about recent developments in house pricing.

Falmouth - 312%

Penzance - 300%

Brancaster (Norfolk) - 287%

Brighton - 284%

Hastings - 256%

Average UK price - 186%

Read here

http://www.theargus.co.uk/the_argus/news/NEWS0.html

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Guest The dude
Here is a nice article in the Argus, Brighton's newspaper. It is about how the seaside towns in the UK have outperfomed the rest of the UK in house price growth. Nothing new, they have collected historic data over the past 10 years. Nothing about recent developments in house pricing.

Falmouth - 312%

Penzance - 300%

Brancaster (Norfolk) - 287%

Brighton - 284%

Hastings - 256%

Average UK price - 186%

Read here

http://www.theargus.co.uk/the_argus/news/NEWS0.html

What truly amazes me is how these high prices are supposed to be 'good' news.

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What truly amazes me is how these high prices are supposed to be 'good' news.

But they won't last for long. Recent idiotic press reports about coastal towns being still in a "boom" are complete rubbish. The quicker they rose, the harder they are going to fall, and they are falling already.

Truro and Falmouth have seen the most spectacular rises, quite out of proportion with their core economies, and the fact that they are tourist areas is not going to save them from a massive collapse.

Don't believe the hype in the media.

VP

Edited by VacantPossession

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What truly amazes me is how these high prices are supposed to be 'good' news.

They are good news if you own the most expensive property you are ever going to own. For example if you have retired, which I'm guessing includes many people in seaside towns.

frugalista

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This report is just the Halifax spin machine in operation once again.

Not content with ramping property prices all over Britain because of the Olympics (a press release alluding to which appeared just a few hours after the annoucement in July) they are happy to just carry on reporting big price rises here and there which already happened quite some time ago.

It's designed to divert attention away from the fact that the bubble has now burst and that property values are static or falling, and to sucker in the last few buyers who think that if they buy at these prices, then they are making a good decision.

It's enormously irresponsible and dangerous, because it continues to play on people's (I must get on the ladder now) fears.

Hopefully the public will see through it as mortgage-lender spin, but when so many newspapers give it column inches then unfortunately I bet a few will fall for it.

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Guest Charlie The Tramp

The new in place to buy is Stratford East London according to BBC London News.

Prices are on the up against the national trend since the announcement that the Olympics are being staged there.

Must be a lot of Blackpool Landladies buying hoping to make a killing on B&B. :D

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The new in place to buy is Stratford East London according to BBC London News.

Prices are on the up against the national trend since the announcement that the Olympics are being staged there.

Must be a lot of Blackpool Landladies buying hoping to make a killing on B&B.  :D

Stratford is total crap. The only thing left to do was build a stadium over the top of it!

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Stratford is total crap.  The only thing left to do was build a stadium over the top of it!

I have also visited there and didn't rate it. I once looked around Ilford with a view to buying a flat there, but in the end I'm glad I didn't.

I don't really rate London anymore. Been there, done that - it drove me around the bend and I was glad to get out.

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Guest Charlie The Tramp
Stratford is total crap.  The only thing left to do was build a stadium over the top of it!

How things haved changed.

Lived there as a small lad, I remember the High Street Market, historical Angel Lane, The Theatre Royal with Littlewood and Raffles, the Rex Cinema where I saw The Dambusters ten times, and the canal bank on the channelsea river where I had my first snog. The people then were the salt of the earth. I returned there two years ago and you are perfectly correct now total c**p. :(

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Guest Charlie The Tramp
"Salt of the earth" : ok in small amounts, becomes overpowering in larger doses, and eventually causes high blood pressure and premature death.

;)  :lol:

I expect the majority have passed on now, but not all premature deaths. :P

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2 bed apartment in Dawlish, Devon, on sale in March at £169,950.

Still on the market  August, now priced at £139,950.

Seaside boom?

....and another example: Eastbourne Sovereign Harbour. All newish builds and vastly over bought by BTL's. Rents there now under half commensurate mortgage costs in some cases and many for sale up to 30% less than the off-plan buying price.

Yes the UK seaside is certainly booming....not.

VP

Edited by VacantPossession

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It's all over the Beeb, another case of PR being reported as news :-

Big rise in coastal house prices

The Halifax have been spinning like crazy recently, today they've been attempting to usurp the falls shown in the Hometrack figures.

Expect a spin cycle like never before in a few weeks, any bets if Halifax dare to doctor their own index if everything else is in negative territory? :o

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It's all over the Beeb, another case of PR being reported as news :-

Yes, I have complained to the BBC about this one. Also it bothers me that the "first time buyer on poverty knife edge" story is not even in the Mortgages and Housing section and there is no sign of this story being reported on either the radio or TV.

I do not feel that FTBs struggling today are given anywhere near the airtime or coverage by the media to express their views.

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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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