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Market Trends In Pe1


tahoma
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Continuing my observations on Peterborough PE1, the average price for a terraced place sold in October is down to £106K, down from an average of £125+ for the previous 6 months.

Link here

Ouch. It goes to show that the very few houses selling are way below the average asking price. You can't sustain prices on such tiny volumes (down to 25% of the peak).

(Rubs hands) :)

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Continuing my observations on Peterborough PE1, the average price for a terraced place sold in October is down to £106K, down from an average of £125+ for the previous 6 months.

Link here

Ouch. It goes to show that the very few houses selling are way below the average asking price. You can't sustain prices on such tiny volumes (down to 25% of the peak).

(Rubs hands) :)

I think you'd have to pay me much more than £100k to live in Peterboro centre! What were the house prices prior to this boom?

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There's a very bullish EA and self-confessed BTL junkie who posts over on EAToday. He's in his early 40s, so just at the right age to have riden the boom up. He very much considers himself an extremely savvy investor and his comments read like something from 2006. He is however, not in London or even the South East, but Peterborough. The Land Reg has provided some great ammo to tell him about falling prices. He had little understanding of how inflation was eroding his investments too, so I kindly helped him with that one. So, although I live nowhere near Peterborough, it's a place I keep an eye on house price wise. I'll be sure to point these findings out to him as well... :D

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I remember going to Peterborough a lot as a kid in the 80s as the shopping was far better than Cambridge back then, always seemed nice enough, particularly around the cathedral and market square.

Went back recently and its a 50% The indian subcontinent and 50% Eastern Europe. Dont know what happened to all the English. They probably moved to Bulgaria or somewhere.

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Central Peterborough is a shit-hole, much like many other middle-sized towns. Surrounding countryside is a bit better.

No offence meant to residents, this is just my opinion. :)

Its a bit 'fenny' out east and north isnt it? Although the Polish inbreds seem to be slowly replacing the english Inbreds in towns like Wisbech and Spalding from what i hear. Oundle is about the only 'nice' town i can think of nearby.

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Its a bit 'fenny' out east and north isnt it? Although the Polish inbreds seem to be slowly replacing the english Inbreds in towns like Wisbech and Spalding from what i hear. Oundle is about the only 'nice' town i can think of nearby.

There's a few more than that. Stilton,Castor, Some of the Deepings to name a few.

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This is a City that has had massive immigration thrown at it too.

It gravitates there naturally - lots of food production jobs (the Fens being the breadbasket of the UK). The last time I was in town there rather than visiting relatives every other shop was either a temping agency or a polish store.

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I remember going to Peterborough a lot as a kid in the 80s as the shopping was far better than Cambridge back then, always seemed nice enough, particularly around the cathedral and market square.

Went back recently and its a 50% The indian subcontinent and 50% Eastern Europe. Dont know what happened to all the English. They probably moved to Bulgaria or somewhere.

Same with nearby Northampton. Ruined. And it can't all be laid at the door of the Northampton Development Corporation either. A lot of these East Midlands/Anglia towns were "earmarked to be wrecked" by the gubment as part of the London overspill, and expansion programmes.

Edited by "Steed"
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First post on here, I live about 15 miles east of PE1 --not quite the end of the world ,but you can see it from here. There have been several houses for sale near me for some time, several without any viewings for a while. Since christmas though there seem to have been several price reductions. House the same as mine would have been worth around £124,000 at peak ,marketed at over £140,000 last year without a sniff of a view, now down to £124,000- getting viewings and offers of about £5,000 less. Similar house on street just gone on market at £125,000, last year that would have been put up at at least £135,000 .There have been several similar reductions recently. Seems to be lots of price reductions around town and sold notices going up. PE1 of course is an area where the local council has earmarked several millions of pounds for backstopping first time buyer mortgages.

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Guyhirn?

Close, but Guyhirn is what i would call the gateway to nowhere. Last time i was in Peterborough there were big boards outside recruitment offices looking for call centre workers and pack house jobs etc at around minimum wage. Its the same out in the Fens lots of low paid agricultural and related jobs The average wage is just under £20,000 per year, average house price 2010 was over £140,000. And Fenland is the most affordable part of Cambridgeshire. Only one way for house prices round here and it isnt up.
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