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Something may be up down there. My friends are stuck with their 2 bed house in Falmouth. Apparently it's worth 180k despite having a small strip of paving for a garden (bought for 60k 4 years ago). They've found something with 3 beds for 240k outside of town but they can't shift their home. They have now dropped by 10k and persuaded their vendor to do likewise, but no luck for the last 2 months again. It's the typical type of house a FTB like them would once have bought, but where average wages are about 14k, perhaps the BTL brigade are a dying breed? Nothing is shifting in my parents village in North Cornwall either (pics of it featured no Location Location as a v. desirable village the FTbs in question could never have afforded...). Anyone else have any views?

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Certainly seems so, the last few months there seems to be 'for sale' signs just about everywhere! I know of someone who's been trying to sell a 4 bed detached house for almost a year, started out at £450K (which was well overpriced then) now I've seen it advertised in the local paper (mid cornwall area) for £399K...

Also lots of property ads listed with 'reduced' against them.

Bring it on!!!

:rolleyes:

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Absolutely - prices down there are nuts. Half a mill for a four bed house, garden front and back and a granny flat upstairs. Hello? Surely most old people get to the point where they can't manage stairs before they throw themselves on the mercy of their relatives? said home hasn't shifted in 8 months. Rosemullion homes are attempting to market homes in parents' village for 225 or 235 for a three bed semi. Good luck to them. At a village meeting they had the gall to describe them as 'starter homes'. You'd need about 60k joint income to afford one so cue Straw Dogs style response from the locals...

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Certainly seems so, the last few months there seems to be 'for sale' signs just about everywhere! I know of someone who's been trying to sell a 4 bed detached house for almost a year, started out at £450K (which was well overpriced then) now I've seen it advertised in the local paper (mid cornwall area) for £399K...

Also lots of property ads listed with 'reduced' against them.

Bring it on!!!

:rolleyes:

Mmmmmm!. I wonder. discretionary purchase second home - would you buy one now? I think not. A lot of demand in coastal/country areas for second homes will dry up pretty quickly. Last year I was on the mail list for a lot of EA's on Alps France. Never heard a dicky bird - All calling me now!. Amazing what an impact our lust for property has had on europe, and what an impact it will have on the way down.

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Village near Redruth, lots of props for sale, not many sales. Two on the same street I've being keeping my eye on taken off the market.

A new build 4 bed, on for 199,000 in Jan, then 240,000 in June, now 220,000.. no sale though. Built in the garden of a house bought for 50,000 in a repo auction in 1999!!

Local regeneration company in the deepest poo, but not in the media yet. G.B. is pulling out the phase 2 of objective 1 money!! Watch places like Camborne etc plummet..

CP

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Watch places like Camborne etc plummet..

CP

I predict Cambourne and Redruth will be first to go down in a really noticeable way, followed by St Austell and then Bodmin - all the unloved towns down the spine of the county, basically. Bodmin Cornish Guardian is already displaying quite a few reduced properties. Will probably then radiate out to the villages and better towns like Truro and Falmouth, then finally the home counties by the sea places like Padstow. It's a bit like the London effect, if you can stretch your imagination far enought to compare Cambourne to London...

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The last couple of months have seen loads of places for sale here in St Ives. Whereas in the spring if you logged on to Rightmove at least half the available properties would be under offer almost immediately, now I'd say less than 10% are showing 'under offer'.

General stagnation across the Penwith area then, but, in the last couple of weeks I've seen signs of the market starting to move again, to my astonishment. Maybe this is a last gasp before prices plunge south, but I'm starting to have my doubts. Until I see signs of panic selling, I really can't see prices moving down more than about 10% in the foreseeable future.

But who knows? It's London house prices propping up the St Ives market (and Padstow and Falmouth et al.) What happens here very much depends on what happens there - and I don't see any signs of panic selling in London either. Stagnation maybe, crashing no. At least not yet.

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True beachbabe,

I looked at some ex-LA houses on the Penbeagle estate a couple of years ago, a google search then showed it to be one of the poorest places in the UK, but prices >140,000 for 3 beds.

Looking in todays West Briton, lots of new builds offering cashback for pre Xmas completion, stamp duty paid etc.

A friend of mine in Camborne town council was in some private meetings. There is some real concern over the drop in prices and the future for the whole area.

London does rule the market down here, as you say no panic sales yet, but I think that come spring there will be no pick up, only an oversupply of props taken off the market now. Well thats what I hope anyway.

Me and loads of other people/ families etc underhoused and pissed off at the current situation and the myopic planning system.

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Hi CP

Aren't you involved in some eco-friendly new build? How's it going? It sounded like a brilliant idea, from what you were saying. We need a lot more enterprise like that in Cornwall.

We have an interesting situation in Carbis Bay where they're building some 'affordable housing' flats - but no-one wants them! It doesn't seem to have occurred to the planners that people generally need houses because they have families - not bedsits that you can't get mortgages on in the first place. No matter how 'cheap' they are!

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Hi CP

Aren't you involved in some eco-friendly new build?  How's it going?  It sounded like a brilliant idea, from what you were saying.  We need a lot more enterprise like that in Cornwall. 

We have an interesting situation in Carbis Bay where they're building some 'affordable housing' flats - but no-one wants them!  It doesn't seem to have occurred to the planners that people generally need houses because they have families - not bedsits that you can't get mortgages on in the first place.  No matter how 'cheap' they are!

<{POST_SNAPBACK}>

Someone is building affordable housing? In Cornwall? Surely not. I never see it advertised in the C-Guardian. I thought all people did was talk about it and never get round to anything. But you're right. It reallly irritates me when I see all projects are 1 and 2 bed flats with no garden. I think they may be building about 3 flats in Padstow at the moment (that will go a long way - haha) but people are complaining because they are pretty unsuited to what's needed.

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Hi

In reply to Beachbabe affordable houses..noone wants them, the same thing is going on at Porthtowan, advertised a couple of years ago for two beds circa 140,000 lol. But you had to be a resident of that or a neighboring parish for 5 years. We didnt get in that and we are only 2.5 miles away!!

A road entrance to the site was constructed and then.. thats it nothing..

Carbis bay development.. is that up by where Kidz Zone used to be I heard about that, how can they call those prices affordable for FTBs?? They use this tag to get PP. How do they calculate it, well I have been told that its not average salary (19900pa in Cornwall according to Office of National Stats) but average household income, and how that is calculated is another matter.

We are still working on the eco housing project in our area Camborne & Redruth, but its really tricky communicating with those monsterously high paid civil servants running the CPR Regeneration body. Plus GB is stripping away a load of their funding and the whole project is going nowhere. South Crofty is surely the most important site around here.. nothing doing, the bypass road seems to be shelved. There are lots of mutterings going on as developers pull out in view of dropping HPs and economic downturn. I could go on.

Anyway this Saturday at the eco-business park at Porthtowan there is a expo of sustainable building methods etc and some of our people will be there(ecohousing kerrier). Also mid December a new ecohouse design (called the ZED) is on exhibition at the old Holmans factory opposite Tesco in Camborne. Hope to see you there. Good site is Cornwall Sustainable Building Trust, www.csbt.org.uk.

web: ecohousing.freeuk.com

email(to go on list): ecohousingkerrier@hotmail.co.uk

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Antsy

Exactly, the GOV insists that affordable housing are rabbit hutches at a ridiculous concentration, and covenants on the deeds restricting ownership. I wouldn't touch that and its certainly one thing getting in the way of our project.

At Landrake there should be a development of ZEDS going ahead, although housing association and for rent only. Its a load of crap to be frank.

Affordable housing will come back to Cornwall when the London buyers sell their 2nd homes and the mrket collapses.

I know people who were completely f@cked during the last crash in Cornwall and its surte to happen again. Cornwall has been a real victim of speculation and will bounce back. Well thats what I hope/reckon anyway:)

CP

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Antsy

At Landrake there should be a development of ZEDS going ahead, although housing association and for rent only. Its a load of crap to be frank.

CP

when they talk about affordable housing and then say 'for rent only' it really makes me want to lie down and chew the carpet.. what does that solve?

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  • 6 months later...

We sold our house in Cornwall last year and have been living in rented since, and watching rhe market ....

Went on a visit this week and spoke to the EA who sold our house for us. He was always very straight with us and he gave us the following take on the market.

1. There was an upturn in activity and offers being accepted in March.

2. As soon as the General Election was called that activity ground to an abrupt halt

3. There has been no recovery in activity since.

4. Chains that were formed up during March are now falling apart again.

In his words "The whole market around here is very indifferent at the moment"

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Doesn't stop the madness of ridiculous prices, though. Look at this. I ask you... would you buy it because it's close to Somerfield? The EA needs a right hiding.

http://www.rightmove.co.uk/viewdetails-597...pa_n=2&tr_t=buy

Gees, who would build such a horrible looking home? We don't want no stinking light ... It takes something for house to look bad in a country full of them!

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Gees, who would build such a horrible looking home? We don't want no stinking light ... It takes something for house to look bad in a country full of them!

The Hillside estate in Bodmin is pretty rank - as are quite a few bits of the spine of Cornwall (Launceston, Snozzle, Camborne & 'Druth). Any price news from these parts of the old country, anyone?

Edited by Antsy
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Doesn't stop the madness of ridiculous prices, though. Look at this. I ask you... would you buy it because it's close to Somerfield? The EA needs a right hiding.

http://www.rightmove.co.uk/viewdetails-597...pa_n=2&tr_t=buy

Thats got to be one of the most ugly houses ive ever seen! :o i want to buy it so i can demolish it! :lol:

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Two decent price cuts in the Falmouth area today.

The first in Penryn. This house has just just changed agents (was Heather Lay) when it was on at £295,000 and is now down to £275,000 (6.8%)

The second in Falmouth. This was advertised about 6 months ago at £250,000 and had dropped in 2 steps to £240,000 and today has been further reduced to £225,000 (10% overall)

Falmouth was a property hotspot but now looks to be cooling.

Edited by kernowcopia
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Anecdotal from village outside Snozzel...

Our neighbours house in a highly desirable area outside Snozzel was recently up for sale at £360K. They had a local buyer within a few weeks of it going on sale at the asking price. Surprise, surprise, I've just found out the sale has fallen through as the buyer couldn't raise the finances. Not sure of the circumstances. I think the buyer wanted to let out as holiday accommodation, and was obviously trying to borrow against the value of their existing house, which is run as a luxury B&B.

Massive amounts of 'For Sale' boards throughout this area... particularly in and around the clay villages....

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I guess that having been shat on from the greatest height we are about due for the biggest correction.

Anyway, here in Pz I'm seeing the same houses for sale that were up for sale at the beginning of the year.

I've seen one terrace house go down from 200K to 180K this month but it was amusingly overpriced in the first place. There was a house further up the road that had been on the market for 3 months at 170K so WTF was he thinking. Actually brings a smile to my face thinking he might have missed the boat by being such a greedy b*******d!!

A friend of mine has had a terrace house on the market for 130K since the beginning of the year but it hasn't shown any sign of shifting yet.

The only places I've seen sell recently are character places at the higher end of the market.

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  • 439 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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