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Realistbear

B B C: Doom And Gloom In South West Due To Job Losses

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http://news.bbc.co.uk/1/hi/programmes/poli...how/4757365.stm

South West: Economic decline?

Mike Fennell

The Politics Show South West

Staff at Bookham Technology were hard-hit

Despite some of the apparent affluence in the South West - take house prices for instance - the region does knows the other side of the coin only too well.
Take Torbay, for example. The telecoms boom which brought prosperity to the resort some six years ago has been followed by a
digital downturn
.
Latest figures show average male earnings a third below the national average. Now the resort is desperate for new sources of funds to kick-start the economy.
At its peak when it was Nortel, there were nearly 5,500 people employed at this site.
It was the largest manufacturing company in the South West. But that was five years ago.
Today, Bookham Technology employs just over 200 staff and this week they learned that their number is to be cut by half.

Not much hope for high house prices in that area then. Smart people should have sold a year ago when they saw all the outsourcing starting to destroy the economy.

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Never much undertood the massive price boom in the South West, even with the brutal speculation which saw BTLers hoover up verious small FTB-type places on new developments and the holiday home mania in the prettier locations.

I'd love to move back to the Westcountry but I think it would have to involve us starting our own business to provide most of our income as unless your a teacher, doctor, country solicitor, HGV technician, jobs paying more than 15k or 16k are drop-in-the-ocean.

At least in the London area there's always openings in your particular field, even if you are often up against hundreds of applicants for each one.

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Never much undertood the massive price boom in the South West, even with the brutal speculation which saw BTLers hoover up verious small FTB-type places on new developments and the holiday home mania in the prettier locations.

I'd love to move back to the Westcountry but I think it would have to involve us starting our own business to provide most of our income as unless your a teacher, doctor, country solicitor, HGV technician, jobs paying more than 15k or 16k are drop-in-the-ocean.

At least in the London area there's always openings in your particular field, even if you are often up against hundreds of applicants for each one.

the halifax told us that house prices went up last month..

they also told us that the average salary was £29,500 in Devon..

Quite who is earning that a table of IT and legal professionals couldn't understand.

We don't..

Its all smoke and mirrors,,, but the area is dying.

Edited by apom

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the halifax told us that house prices went up last month..

they also told us that the average salary was £29,500 in Devon..

Quite who is earning that a table of IT and legal professionals couldn't understand.

We don't..

Its all smoke and mirrors,,, but the area is dying.

I live in Devon.£29k,certainly not the figure that I would say is the average,more like £15k.Thankfully I work for a northern based company so it does`nt greatly effect me.However house prices are not short of the South East costs.

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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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