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Anyone from Hastings or that area? My parents have just put their house on the market. They had 3 well known estate agents in to value it and decided to market it at the lowest of the three prices. The reason being that they have found a property they wish to move to and don't want to have their property unsold for months. Putting it on at the lowest price we thought would bring a wave of viewers. Two weeks since it went on the market not one viewing. Just waiting for the phone to ring now. The newspapers are full of stories about the booming housing market and Spring being the best time to sell but where are all these hungry buyers for my parents place?

Edited by pauluk

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I'm currently living in Hastings

If you want to sell it then be realistic with your pricing

on my road there are a number of properties standing empty that had been up for sale but have had no takers.

one of my friends who lived on the same road as me has indeed sold thier property where others have failed. needless to say it was sold well under what an estate agent valued it at, then it was put up for rent by whoever bought it.

but the properties that i got my eye on for "educational purposes" have not moved at all, and nor have the asking prices. so i'd say that there is curently a stalemate in Hastings and there is not the employment around here to justify the houseprices around here in my opinion.

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Thanks for the 2p offer but I doubt they will accept <_<

My brother sold his 3 bed town house next door in St Leonards very quickly for 2% off the asking price. My parents neighbours has just sold for the full asking price.

Seems you need to be in the right place at the right time. However, I admit a feeling of stalemate seems to be developing. I live in Eastbourne and whilst some sell straight away others are hanging around for months on the market.

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My Dad has a large 2-bed flat in St. Leonards. As he has a divorce on his hands it's highly likely that he will attempt to sell it in the near future.

He bought it about 2 years ago for approx £77k and seems to think it's worth about £140k now.

It'll be interesting to see what happens, I'll keep the thread updated.

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Over three weeks now that my parents house has been on the market and not a single viewing despite putting it on at the lowest of 3 valuations. They have now decided to drop the price £5,000 to see if that generates any interest.

The estate agent said the market was good with lots of activity. So why no viewings if the market is that good then?

I get the feeling its harder these days to move up the ladder. My parents are retired with a 4 bed detached house looking to move down to a 3 bed flat. Someone buying my parents house and moving up from say a 3 bed terrace would have to take on an extra £50,000 of mortgage debt and several thousand pounds in moving costs. Is it worth their while?

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The estate agent said the market was good with lots of activity. So why no viewings if the market is that good then?

I think you've already sussed out that the estate agent might be telling you porkie pies !!!!

Is it worth their while?

If you want to sell it, then keep checking your price. I know of at least one active buyer in Hastings so it's not all dead around here.

But it is declining according to the BBC

http://news.bbc.co.uk/1/shared/spl/hi/in_d...ml/county33.stm

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It has now been five weeks that my parents house has been on the market. They put it on at the lowest of 3 valuations and then lowered the price by £5,000. To date they have not had a single viewing.

Looking on rightmove the price is competitive, there are some 3 bed semis on at the same price. The agent is well known and they have advertised it 3 times in the local paper.

They are looking to buy a flat in Eastbourne and things seem to have slowed in that market too. I live here and see the same properties being advertised and with price reductions starting to appear. My neighbour has been on the market for four weeks with no viewings either.

The market has peaked in my opinion. The question is will my parents have to chase the market down with further price reductions? The football must slow the market further? Will more properties hit the market as the HIPs deadline approaches next year?

Unless I'm boring people I'll update again in a couple of weeks :)

Edited by pauluk

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For what its worth Paul, Give me an approximate area and description of the property, and I’ll provide you an honest and sincere FTB view of how much I would consider the Value is.

And please keep updating this thread, even if it's only me who appreciates it!!!!

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i know tha area a lttle having lived in bexhill( well little common actually ) in the late 1980s,

i moved there with my company .

i bought a new 3 bed detached for £85,000.

12 months later i had to move again and my company bridged me. the house had increased to £125,000 in that time!!

i moved and the house did not sell .

after nearly 2 years on the market my company took a write down on the house.

it sold for....£85,000.

my view is that that part of east sussex is one of the lowest wealth areas in the south east. there are wealthy people who retire from london.

the local industry pays cr*p wages and the rail links into london are too slow for people to commute.

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Six weeks now and not a single viewing on my parents house.

They bumped into an old neighbour who used to live a few doors down from them. It had taken that neighbour 3 years to sell so I could be updating this thread for a long time! :(

I will keep the details of my parents house anonymous but its a four bed detached on the edge of Hastings. Not far from Hillcrest school which was on the news this week because one of its pupils was threatening a girl pupil with a knife. Nice. This is also the town where schoolgirl Billie Jo Jenkins was murdered. Nice.

Why does nobody want to live in Hastings?

Edited by pauluk

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Why does nobody want to live in Hastings?

Some people don't mind it to much, Compared to an inner city council estate it's not to bad

It's cheep living at the end of the day.... there's been lots of people relocating to that "Property hot spot" Hastings from London, Brighton & Eastbourne over the last few years and selling thier expencive house's to "Cash in" by buying a cheap property, but then those people finally realise that it's not quite what they expected. then may find themselves trapped here.

There's not massive amounts of well paid jobs around here, and theres lots of Junkies, Dole types, Students all of whom i'm sure are not thinking about buying a 4 bed detached.

My advice (for what it's worth) take a small hit, before it becomes a big one.

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My Dad put his place on the market this week for £145k... http://www.rightmove.co.uk/viewdetails-779...pa_n=2&tr_t=buy

It'll be interesting to see how this goes.

My Dad has a large 2-bed flat in St. Leonards. As he has a divorce on his hands it's highly likely that he will attempt to sell it in the near future.

He bought it about 2 years ago for approx £77k and seems to think it's worth about £140k now.

It'll be interesting to see what happens, I'll keep the thread updated.

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Now seven weeks on the market without a single viewing :angry:

Chatting to the agent and local people the feeling was that there is a lot of interest and sales are happening for property below £200,000 but anything over that and the market is quiet.

I wonder if that is a common theme everywhere ? A price below which the market is bouyant but above it and the market is dead. The housing ladder is broken half way up help ! :o

My parents are resigned to the fact that they could be in for a long wait .....

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Now nine weeks have passed since my parents put their house on the market.

Great news!! They have had one viewer :rolleyes: That was a week ago and they have not been back or made any comment so that has been the only excitement in 2 months. I think the statistic is that you can expect an offer after 10 viewings on average, so perhaps this thread is going to run for a couple of years at this rate!

I notice on Rightmove a similar 4 bed house being reduced by 6% in the last couple of weeks. Will it be a case of sellers chasing the few buyers by gradually cutting prices?

In Eastbourne where they hope to move to a 3 bed flat, near to the one they are interested in, has dropped from £199,000 to £175,000. The new price is described as a Fixed Price. The same flat has also been available for rent for some time so I guess its costing the owners sitting empty as the months roll by.

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Just a quick update. My parents house has sold and completes today. That's about 5 months from putting it up for sale to it selling, four viewings in total and a couple of percent below the asking price.

Since their sale a neighbours house which is smaller has sold for £15,000 more at full asking price to the first viewer in a couple of days of going on sale. House price inflation is alive and well in Hastings it seems.

In Eastbourne where I live it seems to be a mixed picture from the anecdotes I am hearing. Some are selling in days while others are sitting on the market forever with little interest. The flats in the harbour seem to be taking a while to sell, I guess because so many have been built and more are being added. With some flats less than 5 years old having to go to auction to be sold.

Paul

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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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