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Tester

Horsham News And Anecdotal

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Front page of the Horsham Advertiser this week:

“Too poor to buy, but too rich for benefits”

Many young people in the Horsham district are stuck in a housing trap, a new study has revealed. They are not paid enough to take out a mortgage on expensive local properties, but earn too much to qualify for any housing benefit.

… Vivien Lyth (Conservative District Council Member) commented … "the study had highlighted a big problem which needed to be 'gripped by the throat'… We are in an incredibly difficult situation at the moment, with too few affordable homes for young professionals to buy, and the next few years are going to be very tough.”

The week before:

Southwater: “Praise for new flats”:

Jean Burnham (Conservative Councillor) cut the ribbon to open new apartments in Southwater. In the opening ceremony she said “I know Southwater residents will be delighted”. The larger one bedroom apartments will cost £160,000. “I am thinking of putting my name down and moving in” she said.

So, just how delighted will residents be. In the jobs section of the paper typical salaries are £12-15k a year. Madness!!!

Also out of interest:

“Village is dying traders warn”:

Billingshusrt Chamber of Commerce has seen many shops close over the past months, leaving derelict units or being replaced with charity shops or estate agents.

John Armitage, owner of the Guitar and Music shop said: “We’ve had a recession since this time last year. My rent’s gone up 60% and if there is no upturn in business this will not be viable”.

Anecdotal:

I went to my local Motorcycle Dealer today for some parts. "How's business?", I ask. After some chit chat he opens up:

"It's been a bad year and now it's dead. We've had the good times and now, I hate to say it but I think recession is on the way". He says his business is a good barometer. He's seen it before .. his is a luxury oriented business and is one of the first to suffer.

Forget the spin ... I'm sick of it. The reality is dire.

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By the way, the Halifax House Price Index data shows the following Annualised data for West Sussex:

Q1.............Q2...........Sep *...........Dec *...........Mar*..........Jun*...........Sep *

2004..........2004........2004............2004...........2005..........2005..........2005

223,041......247,747...229,669.......234,039.......232,630......224,174......not yet released.

In other words prices peaked last summer and fell back by 9.5% from the peak this summer. That agrees with chats I've had with Estate Agents who talk about 10% falls around Horsham.

Edited by Tester

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Just had another thought: For a change in real terms add 2.5% for inflation and the 9.5% becomes minus 12% over the year.

Isn't that the "Crash Cruise Speed" of 1% per month!!!

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Hey

Interesting data. I might be taking a job in Horsham, but I think that I would have to live nearer to London for the SO, and commute there. Been thinking somewhere like ewell might be good, do you follow the prices of this or other surrounding areas as well? I've noticed in ewell there seems to be a lot of houses on the market, but not many recently put on the market, but I suppose it's getting to that time of year as well perhaps.

Cheers,

Jo

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  • 338 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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