Guest Report post Posted December 18, 2010 I've been renting since I left university in 1998, and have moved along the south coast from Southampton to Worthing, and several places in between. I've tried to track prices on Rightmove in the Worthing area, but it hasn't always been easy as properties get taken off the market, then put back on, so it is hard to compare sale prices to original asking prices. I stopped looking at prices from mid 2009 until mid 2010, because I found the dead cat bounce sickening. However, the recent bear feast has renewed my hope and interest. Looking at Worthing/Rustington prices, there are defintely houses on now for £175k that this time a year ago were being listed at £200k. They weren't selling a year ago, and it just shows that some vendors are starting to lower their expectations. My hope for this area is that with an ageing population along the south coast, elderly people move into care homes or sheltered accomodation, their house is sold by the family who are happy to drop the price by, say, 10% to get it sold. It should only take a few of those properties being sold to highlight to other vendors (and good estate agents) that houses will sell when prices are right. I also believe banks will be more than happy to lend once houses are priced sensibly. The banks of course want to make a profit by lending money... so it is not in their interests to shut up shop completely. Anyway, slight ramble at the end.... I'm convinced the downward trend around here is picking up Quote Share this post Link to post Share on other sites
Guest Report post Posted December 22, 2010 My current search showing prices dropping 10% upwards... the worst houses of course drop first, but the message seems to be getting through to some vendors. Under £200k 3 bed houses in worthing and rustington areas Quote Share this post Link to post Share on other sites
CviewUK Report post Posted January 11, 2011 I get the impression that the local agents have decided to hold a January Sale. Lots of properties that they have had on their books for many months with no movement are now being reduced. Quote Share this post Link to post Share on other sites
webtwopointoh Report post Posted January 30, 2011 definitely some reductions in this area but still some silly prices. Worthing population seems to be going down a class so i don't think there are enough rich people here or moving here to pay high prices. hasnt turned into a trendy cheap altrenative to brighton just a dumping ground for chavs Quote Share this post Link to post Share on other sites
RentingForever Report post Posted January 30, 2011 definitely some reductions in this area but still some silly prices. Worthing population seems to be going down a class so i don't think there are enough rich people here or moving here to pay high prices. hasnt turned into a trendy cheap altrenative to brighton just a dumping ground for chavs That will annoy my work colleague who bought into the "Worthing is the new Brighton" estate agent spiel. Quote Share this post Link to post Share on other sites
gingertips Report post Posted January 31, 2011 (edited) That will annoy my work colleague who bought into the "Worthing is the new Brighton" estate agent spiel. I do hope not - Worthing is on whole quite a nice little seaside town...brighton however is an overrated cesspit of a giant open-air public toilet... Edited January 31, 2011 by gingertips Quote Share this post Link to post Share on other sites
rod_hull Report post Posted February 8, 2011 I do hope not - Worthing is on whole quite a nice little seaside town...brighton however is an overrated cesspit of a giant open-air public toilet... Of course it is Quote Share this post Link to post Share on other sites
CviewUK Report post Posted May 26, 2011 Estimated total purchase price September 2007 £500,000. Gross auction sale price May 2011 £371,000. http://www.auction.co.uk/residential/LotDetails.asp?A=711&MP=125&ID=711000239&S=L&O=A Quote Share this post Link to post Share on other sites
