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Stu007

Prices In Yate/chipping Sodbury

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It's an increase in ASKING price of 15% over 6 months.

Indeed. I just hope there no one daft enough to buy them, and the vendors have to start reducing the price.

Similar story this house here www.rightmove.co.uk/property-for-sale/property-47646437.html a steal at 30k-35k higher than the last two in the road sold for.

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I have been following prices round the corner in Thornbury since the summer 2014

In the range I am looking new listings came to a massive halt in the August through to Occtober.

A glut of properties hit the market in November and December, some at silly prices. Half of these are now sold.

A few more properties came on the market in January at equally crazy prices (one has sold)

But this week, three price reductions !!!

Inventory is now relatively high and most properties have been on the market for more than a month (50% of new instructions since July that have sold have had offer accepted within the first month) - so further reductions may be on the cards.

A few properties were removed unsold from the market at the end of last year - I am waiting for their return.

DD

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There seems to be a lot of demand in Yate / Sodbury at the moment, possibly due to the impending Riverside complex.

Typical three bed end of terrace in Shire Way recently had an offer of £180k within an hour of being on the market.

Also, a friend of mine and his partner recently put a bid of £183k on a house near Abbotswood which was listed at £170k.

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I remember looking at houses in 2002 and the 1970's terraces in Yate were all around the £100k mark then - at the time we bought in Wotton-Under-Edge which was slightly dearer but a nicer area.

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There seems to be a lot of demand in Yate / Sodbury at the moment, possibly due to the impending Riverside complex.

Typical three bed end of terrace in Shire Way recently had an offer of £180k within an hour of being on the market.

Also, a friend of mine and his partner recently put a bid of £183k on a house near Abbotswood which was listed at £170k.

Demand in Yate is very strong at the moment. Limited number of decent houses being chased by a group of potential buyers.

We went to a open house at a detached property off of st Johns way, which apparently had around 30 viewings booked in. I also know of a house in the counties which had 4 offers over asking price.

I can't see that this is the result of a 6 screen cinema and half a dozen chain restaurants being built. It's just that if you want to live in a nice cul de sac near a good school, so many of the houses are occupied by people that haven't moved since they bought them in the 70s/80s, that when one does come up for sale it's in high demand.

Conversely, if your happy to live in a road that has 1 bed flats next to your 4 bed home, there's no parking, and gardens are tiny, there's probably 10 houses for sale in Normandy drive.

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Had a quick look on Rightmove, see what's happening around the area. I never did look at the prices of those new retirement homes on Westerleigh Rd.

http://www.rightmove.co.uk/new-homes-for-sale/property-44773453.html

A balcony, with views of other balconies. From £275k :blink:

Amazingly/worryingly they seem to have sold quite a few of these

https://houseprices.io/bs37-4ff

Considering £275k would get you a 3 bed detached in a "nice" part of Yate, I can't see how anyone thinks these are a good buy.

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Not sure how far along we are on the planned additional 3000 houses from a couple of years ago, but they've wasted no time getting Rodford Mews up.

Still some silly asking prices around the area.

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