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House Price Slump


Simon Brown
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House prices hit by sharpest drop since 2009

Nationwide building society figures show a 0.7% decrease in July and a 2.6% annual fall

From the Grauniad: http://www.guardian.co.uk/money/2012/aug/01/house-prices-sharpest-drop-since-2009

i wonder how this will affect Cornwall - I plan to be over in November making a few offers in the retirement bungalow areas.

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House prices hit by sharpest drop since 2009

Nationwide building society figures show a 0.7% decrease in July and a 2.6% annual fall

From the Grauniad: http://www.guardian.co.uk/money/2012/aug/01/house-prices-sharpest-drop-since-2009

i wonder how this will affect Cornwall - I plan to be over in November making a few offers in the retirement bungalow areas.

retirement bungalow areas..... if no joy in November suggest you go back after a cold snap. The first of "the three D's" usually brings a few more motivated sellers (beneficiaries) to the market - especially if they are planning on using grannies inheritance to pay their debts!.

the three D's: death, divorce & debt

https://docs.google.com/viewer?a=v&q=cache:kQr7VI6hgJIJ:www.purelawllp.co.uk/downloads/PropertyInvestorUpdate-TheThreeDsFeb09.doc+the+three+d's+divorce+death&hl=en&gl=uk&pid=bl&srcid=ADGEEShY1uaQfwzO-5_CsXpGp00eaneOTX9deHopcivHDV516TxdRe1JTTvBxhxZTAzoKGiu1A-pEDQueAYMBl0El-lJunPbFt9wtHrt-YauXXwQ77o8Qs5m5mwjGOEiqAFocDXdmjJB&sig=AHIEtbSmmArlyPsdfr1qjKfeuLrYkut6-Q

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retirement bungalow areas..... if no joy in November suggest you go back after a cold snap. The first of "the three D's" usually brings a few more motivated sellers (beneficiaries) to the market - especially if they are planning on using grannies inheritance to pay their debts!.

My thoughts entirely. Problem with Feb / March is some will decide to keep the price high in the hope that some daft plonka will buy their hut once the sun starts to shine.

Anyway I'll be there as a cash buyer and will be ruthless.

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My thoughts entirely. Problem with Feb / March is some will decide to keep the price high in the hope that some daft plonka will buy their hut once the sun starts to shine.

Anyway I'll be there as a cash buyer and will be ruthless.

The sun hasn't shone here for months

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So the webcams in Cornwall are run by the tourist board with a healthy spot of Photoshopping ? :)

Myabe

I am in inland Cornwall and it has been awful this year.

It has rained alamost every day for 6 weeks during "summer"

Have sat out once this year in the evening

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Myabe

I am in inland Cornwall and it has been awful this year.

It has rained alamost every day for 6 weeks during "summer"

Have sat out once this year in the evening

I did 10 days on the SW coast path a few years back, in a spell of what was considered to be generally poor summer weather. We only got rained on once and got very suntanned indeed. Inland, however, was another story, it rained every day, apparently.

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I did 10 days on the SW coast path a few years back, in a spell of what was considered to be generally poor summer weather. We only got rained on once and got very suntanned indeed. Inland, however, was another story, it rained every day, apparently.

Thanks for that you cheered me up no end :D

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I did 10 days on the SW coast path a few years back, in a spell of what was considered to be generally poor summer weather. We only got rained on once and got very suntanned indeed. Inland, however, was another story, it rained every day, apparently.

Interesting - the area I'm looking at is the south coast, seen some great properties there.

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Yep. Weather in Cornwall is about the worst in the UK. The main selling point is it's mild - i.e. wet and warm in the winter / wet and warm in the summer

Often there's a dry sunny place to be found for a walk or whatever depending on the wind direction and the position of the coast and/or high ground.

You get used to checking the detailed weather picture down there.

For somewhere to live, it has to be close to the coast, preferably the south, to benefit from the best of the sun.

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Which is where I'm looking. 500k including stamp duty, bungalow with decent sized garden, pub withing staggering distance (1 mile or so).

Looking myself as a cash buyer, South Coast, Par, Fowey, Lostwithiel, have seen prices coming down slowly but you can spot the sad gits who think some mug with cash will pay their over inflated idea of a selling price on Property Bee, I think we are heading into an interesting period, some houses in my buying area have been on 3 years, something will have to give and it's not going to be me.

I also noticed when I was in Par and St Austell last weekend, just how empty it was of holidaymakers for what was supposed to be peak holiday period, I used to own a house there some 12 years ago and it was always heaving over the summer, it was very very quiet!

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Looking myself as a cash buyer, South Coast, Par, Fowey, Lostwithiel, have seen prices coming down slowly but you can spot the sad gits who think some mug with cash will pay their over inflated idea of a selling price on Property Bee, I think we are heading into an interesting period, some houses in my buying area have been on 3 years, something will have to give and it's not going to be me.

I agree - it's obvious when a house is priced to sell compared to a 'we'll just sit it out in the hope...' listing. Also a few of the EA's are plain lazy with the listings, it's a shame they don't show the exact location, it would save so much time woth google maps.

I plan to be over in mid-November with a list of properties to look at, before then I'll no doubt have a list of questions for forum members.

Here's a bungalow I like the look of: http://www.rightmove.co.uk/property-for-sale/property-35063041.html

10150_100338000691_IMG_00_0000_max_135x100.jpg

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