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Sledgehead

Of Course There Is No Housing Bubble

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The £3m bungalow, Telegraph, 02/11/05

A dilapidated three-bedroom bungalow on the exclusive Sandbanks peninsula in Poole, Dorset, has sold for £3 million; its 21ft by 8ft concrete garage is valued at £200,000.

Here's the location, courtesy of Multimap.

Sandbanks, multimap

As you can see, it's a prime location and in no way at threat from the sea, unlike Chesil beach, 25 miles west of Sandbanks.. (see thumbnail)

A notice at the main car park at Sandbanks provides further information on rock groynes. As you can see, the notice commences with the statement: "Sandbanks is widely acclaimed to be one of the best beaches in Britain. To prevent the sea breaking through the Sandbanks peninsula and forming a second Harbour entrance, a series of 13 groynes was constructed in the 1980s. From then until the 1950s Sandbanks beach steadily became wider, allowing much of the development which we see today. In the 1950s, the old groynes were decayed, and seen as a danger to public safety, so they were removed. Since then the beach has steadily shrunk again, and now four new rock groynes are being constructed to protect it." [continues]. This notice was seen on 1 Jan 2004, but has clearly been placed there at an earlier date. It includes a note stating that the work commenced in November 2000 and should be finished by April 2001. The 1.3 million pound project was funded by the Ministry of Agriculture and Fisheries. Certainly this notice is well-worth studying. At the bottom are the logos of the various organisations involved which include MAFF, HR Wallingford, PHC, Environment Agency, English Nature, and Halcrow (the well-known civil engineering company). See the website Coastal Protection Works at Sandbanks - Borough of Poole , for more information (or go to Borough of Poole main website and use the search box).

Geology of the Wessesx Coast of Southern England, By Ian West, School of Ocean and Earth Science , Southampton University,

EA : "Anyhow, as I was saying, THE VIEW is lovely."

Well, I wont' argue with that.

4BM-cliffs-from-Sandbanksm.jpg

Just... enjoy it while you can! :P

Edited by Sledgehead

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I actually don't think this sort of property will decrease in value in a crash. There are always going to be very rich people where 2 million is not much different to 3 million. There are very few houses in Sandbanks, demand is higher than supply so it will be very expensive - always.

If you are looking for a crash, don't look at the top end property. That will only happen if there is a stock market crash first.

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There are very few houses in Sandbanks, demand is higher than supply so it will be very expensive - always.

I'm not suggesting Sandbanks isn't currently desirable, but that's all in the price.

BUT, do you think any of the thinking contained in the geologists report is in the price?

Do you think any of the following is in the price?

Over sixty of Britain's top wildlife sites are under threat from rising sea levels caused by climate change according to a report from Friends of the Earth ... 62 low-lying Sites of Special Scientific Interest (SSSIs) are under threat of permanent flooding as global climate change makes sea levels rise by up to a metre ..

The threatened sites are identified in Appendix A attached

Sea level rise also threatens farmland, homes, ...Future generations face the prospect of ever increasing bills to protect towns and villages while wildlife sites will be squeezed between coastal defences and the rising sea [3].

...

..."Visitors who like to be beside the seaside should enjoy our marvellous coast while they can. Unless we reduce our use of fossil fuels and save energy we are condemning our coast to becoming a grey line of concrete sea walls, where people are increasingly under threat of having the sea lapping at their doors.

...

APPENDIX A: SSSIs under threat from sea level rise

...

Dorset

Poole harbour

SEA LEVEL RISE THREATENS TOP SEASIDE WILDLIFE AREAS , Friends of the Earth

... and ...

Coastal Erosion

On the south and east coasts erosion already threatens property,.... Sea level rise from climate change threatens to increase this erosion. On the Norfolk coast at Hemsby, for example, people have had to abandon coastal bungalows swept away by the sea. At Overstrand coastal roads crumbled into the sea as cliffs cut inland and in Happisburgh houses are now perched precariously on soft eroding cliff tops.

However, coastal erosion is not new to the East Anglian coast. Little remains of the medieval settlement of Dunwich in Suffolk, once East Anglia's most important commercial centre and port. Over the past 400 years the coast here has been eroding at an average rate of one metre per year. A Roman shore fort which is thought to have been located here would now be at least one mile out at sea[14].

However, in recent years the rate of erosion appears to have increased at some points along the coast. The causes are poorly understood .... Ironically, our attempts to defend against sea level rise may actually add to coastal erosion."

http://www.foe.co.uk/resource/briefings/uk...l_habitats.html

I'm not talking about factoring in certainty. I'm talking about factoring in possibility. As I see it, a 200k garage is factoring in a booming economy and a perfect world forever.

Edited by Sledgehead

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Further to this thread, I note 30ft of Selsey fell into the sea during the w/e

Care to join Jonathan Woss, Liam Gallagher and other members of the intelligentsia cramming on to this eroding sandbar a few miles along the coast? Couple of million should buy you a bungalow. I understand the views get better every year.

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I actually don't think this sort of property will decrease in value in a crash. There are always going to be very rich people where 2 million is not much different to 3 million. There are very few houses in Sandbanks, demand is higher than supply so it will be very expensive - always.

If you are looking for a crash, don't look at the top end property. That will only happen if there is a stock market crash first.

...it'll just decrease below sea level once global warming swallows up the defences!!!!

....I don't think "outdoor swimming pool of magnificent proportions" will be able to shift it when the EA's come to sell!!!!

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  • 301 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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