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Ribble Valley, Lancs


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Anybody with any local knowledge know what is happening with prices?

Thansk in advance.........

Hi not sure if my area constitutes Ribble valley. I'm in Preston. Prices here are static and in my opinion over priced. One joker bought at 98K in May 07 and has it back up now for £112K. The interest rates are just killing most opportunities to push seller into dropping.

Hope this is of some use.

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Anybody with any local knowledge know what is happening with prices?

Thansk in advance.........

Difficult to say, so little seems to sell, it's hard to form an opinion.

Ribble Valley generally pricey anyway lots of public sector/defence workers so could take a big hit.

Which bit of the Ribble Valley did you have in mind (it's a big place)?

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Hi

I live in Scorton which is a small village just north of garstang off the A6, hence Forest of Bowland rather than Ribble Valley but still a similar profile re house prices. Depending what end of the market you are looking at, there are a volume of very expensive houses (often barn conversions or large old houses in the **** end of nowhere) usually quited dated looking and offered at very optimistic prices. These tend to be either snapped up straight away or on the market for many years (literally, I bought my house in 2005 and I know that some other places are still for sale).

At the mid end, prices are definitely down but nice houses do sell once they are at the right price particularly if they are a bit different e.g attractive older houses, large gardens, good village location etc.

I bought a 3 bed terrace in Scorton a few months ago which I rent out and have also just bought a large 2 bed flat (over 1000 sq ft) in a Georgian town house on Winckley Square in Preston which was a reposession so, while I am not optimistic in the short term, I am certainly hopeful that in the 5-10 year view things in this part of the NW will look up. I paid £130k for the terrace and £134k for the flat and rental return is around 6-7% pa so currently making a small return at least.

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Anybody with any local knowledge know what is happening with prices?

Thansk in advance.........

Recent price drop:

link

12 Church Lane,

Mellor,

Blackburn,

Lancashire,

BB2 7JL £160,000

19-Nov-2010

12 Church Lane,

Mellor,

Blackburn,

Lancashire,

BB2 7JL £195,500

27-Jul-2009

Edited by Bootsox
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I have been watching this property since early 2010 when it was being marketed for £495k.

The wishing well

Now being marketed for £250k.

Lovely looking twee property but I think it somewhat incongruously located next to a council estate.

nom nom bear food!

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A couple of recent property sales have now appeared on my tracking radar:

Parkgate Row

6 Parkgate Row,

Copster Green,

Blackburn,

Lancashire,

BB1 9ET £175,000 01-Apr-2011

Originally observed via PB on 09/05/10 being marketed for £224,950

Church Lane

Hilltop, 26 Church Lane,

Mellor,

Blackburn,

Lancashire,

BB2 7EY £210,000 04-Apr-2011

Originally observed via PB on 13/11/09 being marketed for £245k

Edited by Bootsox
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Apart from the state sector, BAE Systems is probably the most significant single employer in the Ribble Valley area:

BBC article

"Warton in Lancashire will lose 822 posts and Samlesbury, also in Lancashire, will lose 565."

An estimate on Radio 5 Live quoted a ratio of 4-12 sub supplier jobs lost for every redundancy at BAE Systems.

Edited by Bootsox
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Examples of properties selling at a loss becoming more frequent:

link

01-Dec-2006

36 Ribchester Road, Wilpshire, Blackburn, Lancashire, BB1 9HU

£220,000, Semi-Detached, Freehold, Not New Build

22-Jul-2011

36 Ribchester Road, Wilpshire, Blackburn, Lancashire, BB1 9HU

£200,000, Semi-Detached, Freehold, Not New Build

From my notes, initially marketed on 15/05/09 for £239,950

Edited by Bootsox
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  • 443 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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