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tennaval

Cornish Kite Flyers

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Few London buyers setting prices at the margins. only at the top-end as few sales at the low end.

London buyers seem to have stopped. it's a long waiting game now. basically between boomers being realistic and actually selling for what it's worth by dropping prices until it hits a market clearing level. And boomers willing to be carried out in boxes.

This could take 5-10 years until the wall of health problems forces a few sellers.

This will mean only a few buyers at the low end of the margin setting prices.

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Few London buyers setting prices at the margins. only at the top-end as few sales at the low end.

London buyers seem to have stopped. it's a long waiting game now. basically between boomers being realistic and actually selling for what it's worth by dropping prices until it hits a market clearing level. And boomers willing to be carried out in boxes.

This could take 5-10 years until the wall of health problems forces a few sellers.

This will mean only a few buyers at the low end of the margin setting prices.

I met someone the other day who was talking about Cornwall.

Apparently, retired people are selling up in London and buying in Cornwall only to find that the winters are not what they expected and that living permanently in Cornwall is not like their memories of idyllic holidays at the sea side.

Many houses are back on the market after the first winter.

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Kite flyer of the month goes to this 2 up 2 down Marazion terrace courtesy of PRH Penzance.........

http://www.rightmove.co.uk/property-for-sale/property-52938008.html?utm_source=sendtofriend&utm_medium=email&utm_campaign=buying

Asking price £249,950

Sold in September 2014 for £131,000

http://www.rightmove.co.uk/house-prices/detailMatching.html?prop=44996533&sale=52445741&country=england

A very cheap refurb

600 sq ft + attic

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As much as we like to think these prices are just kite flying, the sad fact is there are plenty of boomers with far more money than sense that are willing to pay them.

I've been looking to buy in a similar area to Cornwall (Anglesey) and there is very much a 2 tier property market... the ordinary workaday houses in residential areas and larger villages can be sat on the market for years, whilst some twee, white washed cottage with a seaside themed interior will sell in a matter days no matter how stupidly overpriced it is.

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As much as we like to think these prices are just kite flying, the sad fact is there are plenty of boomers with far more money than sense that are willing to pay them.

I've been looking to buy in a similar area to Cornwall (Anglesey) and there is very much a 2 tier property market... the ordinary workaday houses in residential areas and larger villages can be sat on the market for years, whilst some twee, white washed cottage with a seaside themed interior will sell in a matter days no matter how stupidly overpriced it is.

As always a two tier market is very evident in Cornwall, with the same dizzying premiums you mention paid for romantic vernacular stuff in the right place. However, there are also a lot of hefty price falls among the middle ground that have been priced more in hope than expectation.

Two recent examples:

http://www.rightmove.co.uk/property-for-sale/property-35120715.html

Reduced from £900,000 to £650,000

http://www.rightmove.co.uk/property-for-sale/property-47671172.html?premiumA=true

Reduced yesterday from £595,000 to £535,000

Edited by tennaval

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