Jump to content
House Price Crash Forum
200p

Portsmouth - Oyster Quay (port Solent)

Recommended Posts

Today is 14th January 2006. Checking on rightmove there are no less than 9 flats for sale ranging from 260K for a 1 bed to 350K for 2 bed flats in the Oyster Quay Devlopment in Port Solent, which must be feeling overshadowed by the Gunwharf Quay development.

See graph - to see that nothing has sold for over a year! STagnant! I wouldnt wish to be in a hurry selling one of those apartments... Source houseprices.co.uk

Gunwharf is still shifting, and no falls have been seen. However they are still building over 100 flats in the new blue complexes - no doubt they will further push prices down, and also stagnate luxury arpartments outside of gunwharf quays further.

7011_OF000141_IMG_00.JPG

Oyster_quay_grah.JPG

post-850-1137262624.jpg

Edited by trev

Share this post


Link to post
Share on other sites

Heres a strange one in southsea

AUCTION

21191_NPP01200_IMG_01.jpg

Guess the developer ran out of money to really capitalise on this - or is bailing out!

£1 million pounds

"Freehold refurbishment and re-development scheme well-situated close to Southsea Seafront - comprising 4 houses for modernisation, plus adjoining house and former garage premises with consent for construction of 11 one and two bedroom flats with parking. TO BE SOLD BY AUCTION ON 23RD FEBRUARY 2006.

"

Oversupply in southsea picture:

this is off st michaels road

pic size is small because i have limited "global" space or whatever that is to upload. :(

I can assure you only one of the signs says "sold"

PIC_0015lowu.JPG

post-850-1138035157.jpg

Share this post


Link to post
Share on other sites

Today is 14th January 2006. Checking on rightmove there are no less than 9 flats for sale ranging from 260K for a 1 bed to 350K for 2 bed flats in the Oyster Quay Devlopment in Port Solent, which must be feeling overshadowed by the Gunwharf Quay development.

7011_OF000141_IMG_00.JPG

Port Solent - that place always makes me laugh. :lol::lol:

Its got a motorway on one side, an active landfill site on the other, a disused gasing landfill in close proximity, is built on reclaimed (ie - shit) land and is close to some of the worst estates in Hampshire. Also, travellers have set up camp next to it on several occasions, and it will probably be all under water in about 80 years. When every I went to the cinema down there, I got the impression that it was inhabited by the chin-less yacht set who all wish they were Ellen McArthur (sp?). You couldn't pay me to live there.

When I worked for an engineering practice down that way, one of the senior guys was involved in the orginal development told me that the construction quality was some of the worst he had every seen, so Im suprised they are still standing.

What a joke, and still they are sold as 'luxury'...

Share this post


Link to post
Share on other sites

Just want to add some other stuff to the portsmouth folder.

*Estate agents closing in the city:

http://www.housepricecrash.co.uk/forum/ind...topic=6871&st=0

*New builds at Milton and Gunwharf:

http://www.housepricecrash.co.uk/forum/ind...showtopic=21318

*Highstreet closures at cascades:

http://www.housepricecrash.co.uk/forum/ind...ndpost&p=292868

Edited by trev

Share this post


Link to post
Share on other sites

Estate agency deadpool 2nd Area

It is February 18th 2006. I am starting a new survey on estate agents in southsea area of portsmouth. (Dont worry I ll still be monitoring North End) There is something like 20+ estate agents all within a 10 minute walking distance of Palmerston road shopping precinct. 2 have already closed at this date (Stevens and Saltmarsh). I do believe with a fall in sales volumes, and far too many estate agents, some of these agents will close, unless the market pics up in a big way. It is upto the agents now to talk down the market. The excitement of property has fizzled out I believe.

Things to note; Theres a shop dedicated to Buy to Let and property investment here, called G and P homes.

Also the "modern living" shop which sells what i call "furniture art", has gone bust - that is the last picture. I can remember it was selling chairs for some thing like £200 each! The mind boggles. :rolleyes:

Full List to date and their chance of survivabilty score out of 5 in next 12 months (yes i am being conservative):

* Austin and Wyatt (5/5)

* Beals (4/5)

* Belvoir (Foreign property specialists) (3/5)

* Bushnell Porter (3/5)

* Cohgroves (3/5)

* DM Nesbit (3/5)

* Fox and Sons (5/5)

* Fry and Kent (5/5)

* Cubbit and West (4/5)

* Halifax (4/5)

* Jefferies (5/5)

* G and P homes (2/5) http://www.gphomes.uk.com/

* Leaders (lettings) (5/5)

* MANN (5/5)

* Bernards (3/5)

* Misbas (3/5)

* Norwood and Partners (3/5)

* Parkinsons (4/5)

* Pearsons (4/5)

* Rightmove (4/5)

* Salmarsh (Closed)

* Stevens (Closed) http://www.stevensandpartners.co.uk [their website to date is still running]

* Waterfields (3/5)

Attachments continued

Atachments continuted

Atachments continued

Attachments continued

Atachments continued

Attachments continued

Attachments continued

Attachments continued

Attachments continued

Attachments continued

Attachments continued

Austin_and_Wyatt_palmerston_road_low.JPG

Beals_palmerston_road_low.JPG

Belvoir_palmerston_low.JPG

Bushnell_porter_palmerston_low.JPG

cohgroves_palmerston_low.JPG

DM_NESBIT_palmerston_road_low.JPG

fox_and_sons_palmerston_low.JPG

Fry_and_Kent_Cubbit_and_west_palmerston_low.JPG

halifax_palmerston_low.JPG

Jefferies_and_JP_palmerston_low.JPG

leaders_palmerston_low.JPG

MANN_and_BERNARDS_palmerston_low.JPG

Misbas_palmerston_low.JPG

norwood_and_partners_palmerston_low.JPG

Parkinsons_palmerston_Low.JPG

Pearsons_palmerston_low.JPG

rightmove_palmerston_low.JPG

Salmarsh_palmerston_road_low.JPG

stevens_palmerston_low.JPG

waterfields_palmerston_low.JPG

modern_living_palmesteron_low.JPG

post-4078-1140264325.jpg

post-4078-1140264358.jpg

post-4078-1140264963.jpg

post-4078-1140264989.jpg

post-4078-1140265108.jpg

post-4078-1140265133.jpg

post-4078-1140265279.jpg

post-4078-1140265306.jpg

post-4078-1140265393.jpg

post-4078-1140265427.jpg

post-4078-1140265542.jpg

post-4078-1140265572.jpg

post-4078-1140265857.jpg

post-4078-1140265884.jpg

post-4078-1140266033.jpg

post-4078-1140266058.jpg

post-4078-1140266183.jpg

post-4078-1140266208.jpg

post-4078-1140266324.jpg

post-4078-1140266350.jpg

post-4078-1140266501.jpg

Edited by notanewmember

Share this post


Link to post
Share on other sites

Estate agency deadpool 2nd Area

It is February 18th 2006. I am starting a new survey on estate agents in southsea area of portsmouth. (Dont worry I ll still be monitoring North End) There is something like 20+ estate agents all within a 10 minute walking distance of Palmerston road shopping precinct. 2 have already closed at this date (Stevens and Saltmarsh). I do believe with a fall in sales volumes, and far too many estate agents, some of these agents will close, unless the market pics up in a big way. It is upto the agents now to talk down the market. The excitement of property has fizzled out I believe.

The City Council has been consulting residents on the future strategy for the area of Southsea around Palmerston Rd and a constant complaint that has come up is that too many shops have been converted into EAs. As a result PCC are looking at a quota to limit further conversions should there be planning applications coming in for the change of use.

We may need to add to the list of "pubs criminally replaced by flats" the Townhouse, which has had a couple of unsuccessful planning apps for the site for demolition and flat-building. The latest ones were for 42 flats on the site. Utter madness.

Edited by Southsea Bubble

Share this post


Link to post
Share on other sites

Southsea area is where I am interested - there seem to be a huge amount of new apartment buildings going up all the time. I am not resident there at the moment but what is the market like for buyers.

(Perhaps this thread title could be changed to exclude a specific area;Portsmouth/Southsea would be more encompassing as for example the Yorkshire thread which covers a much larger area)

Share this post


Link to post
Share on other sites

Southsea area is where I am interested - there seem to be a huge amount of new apartment buildings going up all the time. I am not resident there at the moment but what is the market like for buyers.

(Perhaps this thread title could be changed to exclude a specific area;Portsmouth/Southsea would be more encompassing as for example the Yorkshire thread which covers a much larger area)

A purely subjective observation, but in a city like Portsmouth with a fairly decent stock of flats of a variety of ages, new-builds represent poor value for money.

http://*******.com/hfvvf

£189k but you do get a "secret walled garden" thrown in!

You should be able to get a 2-bed flat in a pleasant location in Southsea in a converted large house for miles less, although as with everything else in the housing market there is some tat on offer.

Share this post


Link to post
Share on other sites

Thank you SB but Milton is not where I am interested in. I am thinking about the seafront but has the Gunwharf development had an impact on places like Clarence Parade, South Parade. I heard that some of the shop were ging to be closed in the centre also -Debenhams and Knight &Lee moving for example. Is there any more news about that because that would make place like Gunwharf next to shopping perhaps a better investment as opposed to the beach front streets. The old houses on the seafront are very attractive but are they the place to buy?

(Do you think we should ask the admins to change the title of this thread?)

Share this post


Link to post
Share on other sites

Had a look on houseprices and noticed the recent sale is a resale.....

http://www.houseprices.co.uk/e.php?q=Ports...+Quay&n=100

Bought in 2000 before rampant HPI for 174,000 Oyster Quay, 15 Flat, Port Way

has been sold in 2006 for 228,000. Thats a profit for 54k (less if you take stamp

duty and other costs).

1 17/03/2006 £228,000 Flat L No Map Oyster Quay, Flat 15, Port Way, Port Solent, Portsmouth, PO6 4TE

45 21/12/2000 £174,000 Flat L No Map Oyster Quay, 15 Flat, Port Way, Port Solent, Portsmouth, PO6 4TE

during the same period the average flat in portmouth has doubled in price....

http://www.home.co.uk/guides/house_prices_...mouth&all=1

Share this post


Link to post
Share on other sites

Knight & Lee close in 2009 and the site will either be redeveloped or sold to Wetherspoons for conversion. Debenhams say they have no plans to close in Southsea but nobody believes there is any future there when they have the old Allders in Commercial Rd now. Would-be developers have already had a plan to redevelop the site turned down but they will come back.

I've been looking around in a rather casual way and having seen a couple of places on the Seafront and overlooking the Common it's clear that there is quite a premium. Southsea is compact enough that something of comparable condition a few streets back is much better VFM.

Share this post


Link to post
Share on other sites
Today is 14th January 2006. Checking on rightmove there are no less than 9 flats for sale ranging from 260K for a 1 bed to 350K for 2 bed flats in the Oyster Quay Devlopment in Port Solent, which must be feeling overshadowed by the Gunwharf Quay development.

I was just searching for Portsmouth and found this thread. Check out Rightmove for Port Solent!!!

1 bed is asking about £217k. 2 bed is about £250k.

Way less than your figures in Jan 2006!!!!

Share this post


Link to post
Share on other sites
I was just searching for Portsmouth and found this thread. Check out Rightmove for Port Solent!!!

1 bed is asking about £217k. 2 bed is about £250k.

Way less than your figures in Jan 2006!!!!

this is interesting, wonder how low they're going to go? Let's face it, only really suitalble/desirable for a pompey football player from africa!

Keep the updates coming.

Share this post


Link to post
Share on other sites
this is interesting, wonder how low they're going to go? Let's face it, only really suitalble/desirable for a pompey football player from africa!

Keep the updates coming.

yes i viewed Lua Lua's pad at Oyster Quay, it was very footballers wifes stylie

Share this post


Link to post
Share on other sites
Guest happy?
yes i viewed Lua Lua's pad at Oyster Quay, it was very footballers wifes stylie

Prices in PO5 are a Southsea Bubble.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 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%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.