Shropshire Lad Report post Posted February 18, 2006 Last year, almost bought new house off plan for £450k. Builder said that loads of people were interested, and it was a snip at that price. Local property pages has it advertised this week (on behalf of the builder) for £340k. Very lucky escape! Quote Share this post Link to post Share on other sites
xian Report post Posted February 18, 2006 VERY indeed. Two words that should instill fear into every buyer at the moment, regardless of location ... "NEW" and "OFFPLAN"! Well done for refraining! Quote Share this post Link to post Share on other sites
the don Report post Posted February 18, 2006 who is to say it will sell for £340k? Quote Share this post Link to post Share on other sites
Unexpected Report post Posted February 18, 2006 who is to say it will sell for £340k? Yes. In a year or two you might be saying you saved 200k. Quote Share this post Link to post Share on other sites
DTMark Report post Posted February 18, 2006 Last year, you could have got one of these for 249k, still for sale at 249k: http://www.rightmove.co.uk/viewdetails-518...pa_n=2&tr_t=buy http://www.rightmove.co.uk/viewdetails-813...pa_n=2&tr_t=buy Or, you could wait a year and save 20k: http://www.rightmove.co.uk/viewdetails-553...pa_n=3&tr_t=buy Or better still, save 30k: http://www.rightmove.co.uk/viewdetails-108...pa_n=3&tr_t=buy All of these have been on the market for 12 months +. Personally, I'd rather wait another year and get one for 189k. Quote Share this post Link to post Share on other sites
BuyingBear Report post Posted February 18, 2006 Last year, you could have got one of these for 249k, still for sale at 249k: In an area where the average wage is about £20k gross. What's supporting these prices? Quote Share this post Link to post Share on other sites
Shropshire Lad Report post Posted February 18, 2006 In an area where the average wage is about £20k gross. What's supporting these prices? Apparently wealth from 'down South' following Marlene and Boyce's lead and other TV programs promoting country life, and in one instance we were beaten by a guy from the Isle of Man who wanted a holiday home for 4 weeks of the year. Quote Share this post Link to post Share on other sites
BuyingBear Report post Posted February 18, 2006 Apparently wealth from 'down South' following Marlene and Boyce's lead and other TV programs promoting country life, and in one instance we were beaten by a guy from the Isle of Man who wanted a holiday home for 4 weeks of the year. Except Boyce's bought a farm, that's quite logical in a way, if only the government could get their books together. Quote Share this post Link to post Share on other sites
DTMark Report post Posted February 19, 2006 Apparently wealth from 'down South' following Marlene and Boyce's lead and other TV programs promoting country life, and in one instance we were beaten by a guy from the Isle of Man who wanted a holiday home for 4 weeks of the year. Most of the people on this Estate do indeed seem to be from 'down south'. They moved here to get rid of their mortgages and timed it pretty well, 100k in the bank will do nicely. Sadly as the local average wage does not support these prices (I thought Blackpool was 14.5k) the housing market in this particular part of Blackpool (one ofthe more affluent parts) just doesn't move. These 4 beds are unsaleable at these prices. You don't go from the 3 bed semi at 135k, to the 4 bed detached at 249k. You just stay put. I suspect this is what's happening everywhere - the broken "property ladder". Quote Share this post Link to post Share on other sites
Shropshire Lad Report post Posted February 19, 2006 Most of the people on this Estate do indeed seem to be from 'down south'. They moved here to get rid of their mortgages and timed it pretty well, 100k in the bank will do nicely. Sadly as the local average wage does not support these prices (I thought Blackpool was 14.5k) the housing market in this particular part of Blackpool (one ofthe more affluent parts) just doesn't move. These 4 beds are unsaleable at these prices. You don't go from the 3 bed semi at 135k, to the 4 bed detached at 249k. You just stay put. I suspect this is what's happening everywhere - the broken "property ladder". That's exactly what we're finding. When we were looking to move last year, our 4 bed detached was valued at £240k, and to move up to a property with one extra bedroom and garage was an addition of at least £200k. As we have children and wanted the extra space, we were going to bite the bullet and get a mortgage again. I thought the price jump was down to the Stamp Duty threshold being at £250k, but as you point out, there is actually a broken "property ladder." Incidentally, my inlaws live in Blackpool, and keep telling me about the £1M apartments being built in areas such as Lytham. Who is buying these??? Quote Share this post Link to post Share on other sites
CrashCrash Report post Posted February 19, 2006 Last year, almost bought new house off plan for £450k. Builder said that loads of people were interested, and it was a snip at that price. Local property pages has it advertised this week (on behalf of the builder) for £340k. Very lucky escape! did anybody buy at that price? if so slip an ad into their house. naughty... Quote Share this post Link to post Share on other sites
Shropshire Lad Report post Posted February 19, 2006 did anybody buy at that price? if so slip an ad into their house. naughty... No, that one is still unsold. However, 3 other houses on the same pitch did sell. I couldn't be so cruel.....or could I? Quote Share this post Link to post Share on other sites
DTMark Report post Posted February 19, 2006 That's exactly what we're finding. When we were looking to move last year, our 4 bed detached was valued at £240k, and to move up to a property with one extra bedroom and garage was an addition of at least £200k. As we have children and wanted the extra space, we were going to bite the bullet and get a mortgage again. I thought the price jump was down to the Stamp Duty threshold being at £250k, but as you point out, there is actually a broken "property ladder." Incidentally, my inlaws live in Blackpool, and keep telling me about the £1M apartments being built in areas such as Lytham. Who is buying these??? Lytham is a bit different, even though it's only a few miles from Blackpool, prices there aren't too far off London prices. Asking prices, anyway. The £1m apartment made the local press as I think it set a new ceiling for the area, having said that I thought I remembered reading that it was shelved. There is a fantastic detached house in Blackpool itself - in the Stanley Park area - on the market for 1.4 million. Quote Share this post Link to post Share on other sites
right_freds_dead Report post Posted February 20, 2006 and in one instance we were beaten by a guy from the Isle of Man who wanted a holiday home for 4 weeks of the year. dont forget the isle of man is a tax exiles paradise. theres lax tax laws. sheep and more lax tax laws. something wrong with the women there though. do you think being an island affected the gene pool ? Quote Share this post Link to post Share on other sites
BuyingBear Report post Posted February 20, 2006 dont forget the isle of man is a tax exiles paradise. theres lax tax laws. sheep and more lax tax laws. something wrong with the women there though. do you think being an island affected the gene pool ? Aside from the increased frequency of rich balding to$$ers, probably not. Quote Share this post Link to post Share on other sites
