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Spring Bounce (in Bournemouth Area)


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TA Winney were our letting agents until recently, and we just 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 buying in New Milton!

PS: I don't think prices are dropping here in NM - if anything they are going up slightly still. Many houses & bungalows we looked at last year, to buy, which hung around for over a year some of them, have now sold (around £350K mark) and for pretty close to the asking price or for asking price, unless there was something drastically wrong with them. And lots more SOLD signs everywhere here ( they don't put SOLD here unless completed, as far as I am aware - they certainly wouldn't put up 'sold' on ours until we completed).

Also, we just finally sold our old house in West London. After almost a year waiting, we had an influx of interest and sold near to asking. So I don't see much slowing personally. Last year was worse.

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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.

Just shows, unralistic agents overpricing properties in your area

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  • 2 weeks later...

Anyone who knows the Bouremouth and Poole areas will notice recently a lot of flat conversions coming onto the market.

Travelled across Bournemouth and saw lots of these new flat developments going up. My take on this is that the oversupply of flats will drive the whole market down. As more and more are built the competition to sell any flat will be fierce. The prices people pay will be less and in turn put pressure on the next rung up (the small houses) which will fall in price.

Currently there is a lot of rental property available and for modest money when compared to a mortgage. Plus there are signs of investors offloading properties through the sheer numbers of properties for sale. There is also evidence of some flats going to auctions where the owners must be getting into difficulty meeting mortgage repayments.

Hang in there this is looking exciting :)

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  • 2 weeks later...

Having a quick look at rents - a range of studios from £275 to £400 per month

Not seen before - 2 years ago studios are about the £360 mark being the cheapest ( i know i used to live in one).

Seems rents are falling, or the availability of studios bought before the boom are more becomming available.

£275

http://www.rightmove.co.uk/viewdetails-728...a_n=1&tr_t=rent

£310

http://www.rightmove.co.uk/viewdetails-111...a_n=3&tr_t=rent

£320

http://www.rightmove.co.uk/viewdetails-670...a_n=3&tr_t=rent

£325

http://www.rightmove.co.uk/viewdetails-460...a_n=3&tr_t=rent

£350

http://www.rightmove.co.uk/viewdetails-744...a_n=3&tr_t=rent

£350

http://www.rightmove.co.uk/viewdetails-108...a_n=3&tr_t=rent

£365

http://www.rightmove.co.uk/viewdetails-114...&tr_t=rent'

Its very hard for these rents to cover mortagages of prices of current studios (circa £70-80K)

So whats exaclty happening?

If people who were happily living in these and moved out because of loss of work or are buying their ownproperty, supply of rental property increases.

The other alternative is that these are new conversions, by the owners of the buildings.

Good news for renters

Hargreaves at castlepoint is closing down :o

Edited by notanewmember
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Having a quick look at rents - a range of studios from £275 to £400 per month

Indeed, we have been expecting pressure on rents for a while since 97% of stuff built in the last couple of years has been flats luxury appartments. There are going to be some sorry people who have BTLs in these new blocks everywhere. I still don't understand why it seems that noone pulled out of contracts when the SIPP U-turn happended, there still seems to be mugs buying.

However, the 3/4 bed semi's have been flying at around 250k strangely - frustrating but a lot of stuff is still selling for stupid prices in the area.

Si

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  • 3 weeks later...

Noticing over the last week or so lot's of new properties being added to Rightmove in Christchurch, Bournemouth and Poole areas. Some areas have shot up in price while more desirable places haven't moved much. It really is specific to certain areas.

The new influx of properties will either be bought up quickly or will hang around for some time. I think the latter as a lot of properties are being sold without an onward chain - has anyone else spotted this?

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Hargreaves at castlepoint is closing down :o

Bit off topic but it isn't closing down. The chain has been bought by by the company that owns all the Sports World shops (formerly Soccer World, also available as Lilywhites). It will be refitted as one of those pile-it-high, sell it cheap sports shops. Cheap trainers and nasty Umbro, Donnay and Lonsdale clothes........

.......All this as long as Castlepoint allow the new owners to retain the lease (they are a bit down market and might tarnish the image of the other shops, apart from T K Maxx :lol: )

Now, back to the housing debate!

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  • 7 months later...

I can barely type I'm so astonished, but Barratt are planning to ask almost £1m for flats in Boscombe! Yes, that's right, Boscombe!

http://www.barratthomes.co.uk/site.cfm?intDevID=447

There was an article in Sunday's Observer about this -- it says that 2 bed 2 bath flats with no sea view will be £389,000 and that a similar flat with sea views and a study will be £950,000!

http://money.guardian.co.uk/property/story...2005402,00.html

Gleeson still haven't sold all 28 of the flats they completed near Sandbanks in 2005 ('Mirage'), so I'd say that gives an indication of Barratt's chances of selling 169 expensive flats in Boscombe ('Honeycombe Beach'). It's notable that these developments are by out-of-town developers, who just don't seem understand the areas they are building in. Oh, and the agent talking up the Barratt flats is the same agent who has failed to shift all the Gleeson flats.

BE

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  • 3 weeks later...

This bizarre item is from the Neighbourhood Watch newsletter for Sandbanks:

'There were 2 serious crimes in Sandbanks. In one a woman was bound and gagged by 2 men who hacked off her hair and stole her handbag. The Police think this was a "reprisal" attack. The crime happened just 3 days after another woman was tied up and robbed of £500,000 in cash and jewellery by a gunman. These are very unusual crimes, and we await Police results.'

To put this in context, the other crimes in the newsletter are thefts of a handbag left unattended in a supermarket shopping trolley, elderly people being targeted by conmen, and thefts from garages and sheds.

Maybe this is a reflection of the sort of people attracted to buy property in 'the fourth most expensive real estate in the world' or whatever it is that the local agents and the media like to say about it?

BE

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This bizarre item is from the Neighbourhood Watch newsletter for Sandbanks:

'There were 2 serious crimes in Sandbanks. In one a woman was bound and gagged by 2 men who hacked off her hair and stole her handbag. The Police think this was a "reprisal" attack. The crime happened just 3 days after another woman was tied up and robbed of £500,000 in cash and jewellery by a gunman. These are very unusual crimes, and we await Police results.'

To put this in context, the other crimes in the newsletter are thefts of a handbag left unattended in a supermarket shopping trolley, elderly people being targeted by conmen, and thefts from garages and sheds.

Maybe this is a reflection of the sort of people attracted to buy property in 'the fourth most expensive real estate in the world' or whatever it is that the local agents and the media like to say about it?

BE

£500,000 in cash? Who has that kind of money laying around at home? come to think of it who has that kind of money full stop! makes you wonder why it was'nt in a bank.......does'nt it.

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£500,000 in cash? Who has that kind of money laying around at home? come to think of it who has that kind of money full stop! makes you wonder why it was'nt in a bank.......does'nt it.

Yeah i know just think of the interest she was losing :blink:

Sun n sea , you out there , havn't seen your name on here for a while , i'm worried about you :P .

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Well it seems like the MAGIC South Coast is pulling another white rabbit out of the hat!

I have been monitoring cheaper areas in the Poole area and have seen the cheapest houses and bungalows rise by 20-30k since last Summer.

Are there others who are seeing the same?

It won't be long before there are no cheap starter homes for under 200k soon!

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  • 2 weeks later...
I can barely type I'm so astonished, but Barratt are planning to ask almost £1m for flats in Boscombe! Yes, that's right, Boscombe!

http://www.barratthomes.co.uk/site.cfm?intDevID=447

There was an article in Sunday's Observer about this -- it says that 2 bed 2 bath flats with no sea view will be £389,000 and that a similar flat with sea views and a study will be £950,000!

http://money.guardian.co.uk/property/story...2005402,00.html

Gleeson still haven't sold all 28 of the flats they completed near Sandbanks in 2005 ('Mirage'), so I'd say that gives an indication of Barratt's chances of selling 169 expensive flats in Boscombe ('Honeycombe Beach'). It's notable that these developments are by out-of-town developers, who just don't seem understand the areas they are building in. Oh, and the agent talking up the Barratt flats is the same agent who has failed to shift all the Gleeson flats.

BE

Barrat is an out of town developer who doesn't understand the market?.... Now, that's funny!

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  • 442 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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