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Hopeful FTB

A Few Comments About Brighton

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I know this is probably the wrong place for this but as Brighton saw the biggest falls of all towns in the UK last month, it seems relevant.

The thing is in Brighton is that prices here are WAY above the average salaries. Unless you commute to London ( which must be a nightmare to be fair!), the average person on the average salary hasnt a hope in hell of getting on the ladder here unless prices continue to drop at 2% a month for a pretty long time.

Brighton has seen some of the worst of the boom but the average wage is probably only about 17k if not lower as the local income is dependant upon shopping and tourism. The average 2 up 2 down in Brighton is 250k- in that context it is not suprising that it has seen bigger falls as no-one can afford it. Be interesting to see how it goes as it was very bad here during the last crash.

I have friends who borrowed 8 times their income to get a 200k interest only mortgage in brighton a few months ago- I darent even mention what has just happened as they must be negative or about to go negative already- scary.

Any predictions about what will happen down here?

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Brighton has been discussed loads of times on here.

Seriously do a search and put 'Brighton' in.

Briefly...

it will be hit very very hard.

You could not get a place that is more "bubbly" than Brighton...no industries, total dependence on retail and tourism (in recession already) and a house-market blown up by BTL, London weekenders and the Pink Pound.

Your average FTB in Brighton is absolutely screwed at the moment.

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Guest tenant super

I found out last weekend one of my mates and his other half have three BTL flats in Brighton (one in Shoreham). They only bought them in the last 18 months.

Down 2% in a supposedly good month?

Oh my word.

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I mentioned this last week when it was first discussed. I have posted this data in a suitably panicky way on the Argus website. The more people that hear about a crash here in Brighton, the quicker it will come.

Here's the link:

http://forums.theargus.co.uk/forum.asp?FORUM_ID=66

Feel free to add to the negativity with personal anecdotes of doom and debt!!!! We are VIs after all, and it's time to get our own back.

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  • 339 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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