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Midlifemum

Reduced, reduced, reduced Brighton

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Brighton, long term house price mania capital of the south coast is covered in Reduced signs at the moment. Haven't seen anything like it for a long time.

Granted, it's been total mania for the last few years with 100k rises in the space of a few months on poxy terraces so there is a long way to go. 

But there is a real shift and there are reductions all over rightmove-  its a little bit of non- Spring bounce joy to behold

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Hatfield's bubble (Hertfordshire) is not nearly as large as Brighton's bubble. But it's still a large bubble due to the commuting link.

Most listings are reductions now. It's still full of overpriced crap. But sentiment has shifted entirely, which is an excellent situation.

 

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Brighton seems more bonkers than London often, considering there are very few well paid jobs in the city and most have to spend thousands a year and risk their sanity commuting.

 

It's 50 quid a peak return london to brighton :huh:

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38 minutes ago, MARTINX9 said:

Just crazy asking prices by estate agents then being cut to slightly less UNREALISTIC levels. 

Corrected for accuracy.

 

There is no price i've observed on right move in the last 7 years that is approaching realistic.

Edited by TheCountOfNowhere

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Anecdotally someone was telling me that their friend sold a house -3 bed terrace- in Hanover in Brighton for 500k about 6 months ago and they were getting letters through the door from people begging them to sell the the house and offering 50k plus over the asking- bet they feel a bit silly now!

Brighton has been stupid prices for the past 15 years but as funding is cut to the local services, the parks are looking shabby and it's looking a bit grim once more (skid row on sea in the late 80's)- it's not so great!

In the early 1990s I heard of someone who bought a flat on the seafront for 200k and 3 years later couldn't sell it for 70k. 

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32 minutes ago, Midlifemum said:

Anecdotally someone was telling me that their friend sold a house -3 bed terrace- in Hanover in Brighton for 500k about 6 months ago and they were getting letters through the door from people begging them to sell the the house and offering 50k plus over the asking- bet they feel a bit silly now!

Brighton has been stupid prices for the past 15 years but as funding is cut to the local services, the parks are looking shabby and it's looking a bit grim once more (skid row on sea in the late 80's)- it's not so great!

In the early 1990s I heard of someone who bought a flat on the seafront for 200k and 3 years later couldn't sell it for 70k. 

 

I had the time of my life growing up in Brighton in the 80s. It wasn't a dump, but it was edgy, unlike now, where it is rammed full of neo-liberal hand wringing nobheads from London. Saying that, the restaurants are much improved as a result of the said nobheads.

The 90s crash hit it hard.

Edited by HovelinHove

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5 hours ago, TheCountOfNowhere said:

Corrected for accuracy.

 

There is no price i've observed on right move in the last 7 years that is approaching realistic.

Sadly if there are mugs buying at those prices - which there have been until recently -  they are realistic.

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