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Si_

Spring Bounce (in Bournemouth Area)

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The local property section of the freebee hit the door mat yesterday. After being a slimmed down version of its usual self it is back to a letter-box busting tome full of 'exciting opportunity to obtain', 'luxury apartments', and 'must views .. hurry last four hundred left' type ea-speak.

What amazed me is that some properties are back that sat for sale in the 6-months up to Christmas AT A HIGHER PRICE!!!! - some much higher ( 2 bed appartment 355k etc... ).

Some estate agents must still be talking up the market and convinced the owners that there will be a spring bounce they can cash in on!!!!!!!!!!!!!!!!!!!!!!!

Another thing which amazed me before Christmas was a couple of properties that were on for 550 and 570 - after beign convinced by an agent that any thing less than 100k above the stamp duty threashold would be difficult to sell for over 500 they increased the prices to 620 and 650 - guess what - they sold....

The world has finally gone mad....... (or this is the madness before the underlying falls are revealved ).

Si

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I don’t actually know where all the money is coming to repay all of this fun and games. I 've seen studio flats in Bournemouth and Poole starting at 100K the entire area is aloft with this type of grossly over priced crap. Even areas such as Boscombe renowned as the lower side of Bournemouth hasn't escaped this madness.

Check it out below courtesy of rightmove. Somebody just can’t seem to make up his or her mind on the price for this lovely ditty below - > looks like the backend of a greasy take a way or something.

http://www.rightmove.co.uk/viewdetails-982...pa_n=5&tr_t=buy £86,950

http://www.rightmove.co.uk/viewdetails-979...pa_n=5&tr_t=buy £87,000

http://www.rightmove.co.uk/viewdetails-793...pa_n=7&tr_t=buy £92,000

I think the cappuccino culture is starting to wear thin. I just feel the gloss is starting to come off and over the next couple of years Bournemouth may see some of the biggest falls.

Edited by jonsfedup

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Check it out below courtesy of rightmove. Somebody just can’t seem to make up his or her mind on the price for this lovely ditty below - > looks like the backend of a greasy take a way or something.

Yikes - about four times average salary for that :(

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Yikes - about four times average salary for that :(

Imagine going to work to try and struggle to pay a mortgage of for that along with the service/maintenance charge, ground rent. I find certain examples of this madness quite offensive and that is one example. Priced at three different offensive price points. :(

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Had a look at the free property paper myself and you could mistake it for being a different publication than the ones before Xmas - lot's of the EA's which featured reduced/back on the market/must sell properties have now dropped these captions and are pushing for higher prices.

I have lived in a lot of areas within the south and frequently monitor all of them. Poole and Bournemouth seem to be the 'Bullish' of all of them. The problem here is that the area is very sought after by families and retirement folk who will pay through the nose for an overpriced hovel by the sea!!

Poole and Bournemouth I fear will be hit very hard as speculative money is withdrawn and the old folks have trouble selling their homes elsewhere. The number of new builds and those coming on soon will surely be squeezed!!??!

Plus - the average wage here is not very good and there must be hundeds of people stuck at home with the parent's!!

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Activity in B'mouth + Poole will be driven by what the financial companies do.

Watch Chase in '06.

Start of the Financial Service centre end game.

Back to cheapo B+B's and wiping old peoples a*se's ....

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:blink:

An offer has been accepted. Not the same as being sold!

The whole situation in Bournemouth and Poole is very worrying,its gone mad? or has it --look at all the apparently 'sold' signs and they all say in small letters underneath 'sold subject to contract'-and aggressive agents like 'Mitcells' put sold boards on roundabouts and vacant pieces of land that are simply advertising-at xmas they put merry christmas boards everywhere!what is really happening here?Sue

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Plus - the average wage here is not very good and there must be hundeds of people stuck at home with the parent's!!

My mums window cleaner is not exactly on minimum wage – he gets £10 a house and it only takes him 10 mins – we reckon he makes £60 a hour – parks his car at the end of the road and walks round the block – yearly total £52800 for a 4 hour day

She had her garden re-done £6000 for a weeks work 2 guys – and she has just ordered a conservatory to be built £10000 again 2 guys but for 2 weeks – she could not find someone to redo the pointing on her chimney for less than £200

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My mums window cleaner is not exactly on minimum wage – he gets £10 a house and it only takes him 10 mins – we reckon he makes £60 a hour – parks his car at the end of the road and walks round the block – yearly total £52800 for a 4 hour day

She had her garden re-done £6000 for a weeks work 2 guys – and she has just ordered a conservatory to be built £10000 again 2 guys but for 2 weeks – she could not find someone to redo the pointing on her chimney for less than £200

...thats it - I'm going to retrain as an odd-job man. Which degree should I take!!

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I certainly agree about the prices going up again in the new year.

There also seems to be a lot of sold signs around too, even on houses that were up for some time before christmas.

The world has truly gone mad.

However, the only saving grace is that there are a lot of places that have sat with sold stc for a very very long time which hopefully is a sign of difficulty in setting up workable chains.

I've even been considering str but the rental amounts are truly astounding.

The str fund interest might cover 3/4 of the rent.

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well a year has past - fortunately prices havent risen!

Studios still around the 70-80K mark

1 beds I believe have fallen slightly, and you can still get one from 85K, most are about 99K

2 beds still 120K mark

Hamworthy terraced homes probably the cheapest freehold house available in the area £140K still

also Parkstone around that price.

3/4 bed semis/detached I guess 170-250K

Conclusion - Stagnant guys.

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Conclusion - Stagnant guys.

I agree the market seems sort of stagnant, but the EAs have beleived their own Spin and are talking asking prices up still. There seems to be a lack of consistancy too. Some stuff which looks nice and relatively well priced sits on the market for ages, others, not so good get snapped up in days.

Si

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Had a look at a property near wimborne the other day, was at 325K in an area that has only ever seen one other property exceed 300K ( a much larger house).

Every room needed work doing on this property, serious work too.

Several days later someones offered because its now sstc. I wait to see if it sells.

Been keeping an eye on a few proprties that have been up for sale in this particular area and the pattern is the same, asking price £330K-£360K. Property goes sstc for a while then off the radar, but not one in the last 12 months has appeared on nethouseprices.

Other houses sub 300K no probs.

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This cheered me up no end. Christchurch down 8.7%, Detached houses down 9.1%

Prices in Bournemouth Area (Dec04 to Dec05). It will be interesting to see what the next set of LR figures show.

NICE FIND!!! Confirms what I ve been thinking. I ll bookmark that one.

Put a smile on my face today! :lol::lol::lol:

Edited by notanewmember

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Wey hey, in the last couple of days since i looked on whymove, three properties I have been watching, one I like, one is in a ridiculous place (smack bang on derbys corner) and the other along the waterloo road (on with about 7 agents) have all dropped.

325K to 310K (almost 5% drop)

295K to 275K (>6% drop)

295K to 289K (Only been on less than a month I think)

Just when I was beginning to despair of any sanity left in the world a ray of light shines.

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Wey hey, in the last couple of days since i looked on whymove, three properties I have been watching, one I like, one is in a ridiculous place (smack bang on derbys corner) and the other along the waterloo road (on with about 7 agents) have all dropped.

325K to 310K (almost 5% drop)

295K to 275K (>6% drop)

295K to 289K (Only been on less than a month I think)

Just when I was beginning to despair of any sanity left in the world a ray of light shines.

Hurray there is hope for us here in Bournemouth!!!----reality is setting in??--those agents though who are beginning to be brave enough to be realistic,I have heard get bullied by the rest ......

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...and in New Milton. Not the most popular area, dull to say the least but a cheaper part along the coast and handy for Bournemouth and Southampton...

Lots of properties sticking around for ages. Only cheaper properties seem to be selling. Noticed this FTBer house reduced to £153000 from £163000 and £164950.

What is interesting is the blue rinse retirement properties are moving but these are priced above what working families can afford. The smaller familiy houses attractive to families are not moving.

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Krusty and Pill admitting on their property ramping programme Tues night that Poole and E Dorset the worse performers last year.

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Just noticed that our rented flat which has been on the market with TA Winney based in Highcliffe and New Milton has now got a different for sale board. The telephone number is the same. So it looks like this small long standing independant EA has sold up to 'Winkworth'.

Perhaps they know something the other EAs don't at this stage? Or are they finding it hard to compete in this downward market?

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TA Winney are our letting agents, and we received a letter to say that Winkworth's were taking over the New Milton office. No reason why. Shame if they are 'downsizing' because they have always been very friendly, given a very good personal service, and sorted out any problems promptly. More than I can say for the 'large name, bright red' agents we dealt with when previously buying in New Milton!

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  • 301 Brexit, House prices and Summer 2020

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      • down 5% +
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