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notTommy

Mid-lincolnshire

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In Mid Lincolnshire there are a lot of For Sale and To Let Boards staying up for a long time. Many months. People are asking between 160K and 175K for three bedroomed bungalowes but not getting it but seem to be stubbornly hanging on and not reducing the price or just staying put and taking the house of the market. Estate Agents windows are stuffed to bursting. Like everywhere else there is a lack of understanding amongst people you talk to and some saying prices can only go up and that is good because it means there house is worth more. There seems to be no thought of young people struggling to find a roof. Many people are buying "run down" houses giving them a coat of paint and B&Q kitchen and hoping to sell at a profit. Not business tycoons doing this just normal people often buying by releasing capital on their own home.

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In Mid Lincolnshire there are a lot of For Sale and To Let Boards staying up for a long time. Many months. People are asking between 160K and 175K for three bedroomed bungalowes but not getting it but seem to be stubbornly hanging on and not reducing the price or just staying put and taking the house of the market. Estate Agents windows are stuffed to bursting. Like everywhere else there is a lack of understanding amongst people you talk to and some saying prices can only go up and that is good because it means there house is worth more. There seems to be no thought of young people struggling to find a roof. Many people are buying "run down" houses giving them a coat of paint and B&Q kitchen and hoping to sell at a profit. Not business tycoons doing this just normal people often buying by releasing capital on their own home.

While driving through Metheringham, Nocton, Ruskington, etc last night, I saw the "For Sale" signs. Saw no "Sold" signs.

Maybe it's just a natural consequence of the time of year. IE, sellers have just begun to offer properties up to the market but the buyers have not woken up yet.

But, personally, I don't think so. I think there's fewer buyers. My various contacts say people are pulling in their horns for most kinds of spending.

Edited by longjohn

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Just over a year ago houses in Welton (and other areas in William Farr catchment) were selling like hotcakes at ridiculous prices (not far off SE) and several new developments have been completed to cope with the demand.

Heard someone complaining recently that for the past few months NOTHING in the area has been selling!

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Just over a year ago houses in Welton (and other areas in William Farr catchment) were selling like hotcakes at ridiculous prices (not far off SE) and several new developments have been completed to cope with the demand.

Heard someone complaining recently that for the past few months NOTHING in the area has been selling!

I lived in Lincolnshire during the period 1987 - 1991, when prices were rising so fast, the only option was to buy a house with a friend. It all ended in 1990 and the house subsequently dropped about 30-40%, but worse still, nothing sold for about 4 years. I managed to pay my way out of the mortgage, but the house was unsold for years.

The area 'benefited' :blink: from the boom in the late 1980s with people commuting to London by train from Sleaford and even further east. Madness. This pushed up prices for others in the more rural areas. When the crash came, people could not buy locally, the 'outsiders' went back south and the market collapsed.

The same will happen again this time. No-one wants to commute 2 hrs each way to London, but many have to as the property prices are too high close to London. When these prices become more acceptable, why commute?

JD :ph34r:

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Sensibly (well, relatively sensibly) priced detached cottages in the villages outside Lincoln do still seem to be selling reasonably quickly in my experience, within a month sometimes. The vast majority though are staying on the market for ages. There's a few terraced houses in Lincoln still unsold on Rightmove that were on there when I first started looking in spring 2005!

Rents don't seem to be that much higher than when I last rented in the Lincoln area in 1999-2000, and there's now a better selection of rental properties available.

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Sensibly (well, relatively sensibly) priced detached cottages in the villages outside Lincoln do still seem to be selling reasonably quickly in my experience, within a month sometimes. The vast majority though are staying on the market for ages. There's a few terraced houses in Lincoln still unsold on Rightmove that were on there when I first started looking in spring 2005!

A one bedroomed modern town house was sold recently in Spilsby for £59,000. There are some reasonably priced houses for sale on primelocation. A new For Sale Board goes up round here every day and hardly anything is moving.

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I think these two sum up the Lincoln area property market, both the same asking price;

What isn't selling

another ubiquitous 2-3 bed city centre terrace, which will probably take months to sell.

What is selling

it sold stc within about a week (i think) of going on the market.

Personally i think the first should be considerably cheaper than the second. Why isn't it? Probably because the first is prime BTL fodder, whereas the second will more likely be bought by someone who actually wants to live in it.

Edited by Neil D Possitt

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Just had £2k knocked off the asking price :)

Now £87950.

"Potential buyers are advised to view early to avoid disappointment."

Presumably to avoid the vendors disappointment.......

Still more For Sale boards going up and staying up. Prices are dropping. You can get a 3 bedroomed detatched house for £159K around Lincolnshire. Watch Primelocation. I foresee the big slump. Only things slightly holding value and continue to sell are small semis and the good old terrace. Curse the Victorians for building so many of the damn things.

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  • 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%



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