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Malarkey

St Leonards On Sea East Sussex Please Can Someone Explain

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I have been following house prices in St leonards and have been shocked by the increase in price over the last year and the last 6 months in particular.

Houses that were on for about £125K in Dec 07 now going for 165K May 07. This is one hell of an increase.

Another sold 125k Dec 06 its neighbour on at 175k may 07. OK not the same house and the second would have been valued around 20k higher, at max. So say 145K Dec 06. How the hell does it end up at 175 five months latter. ! After all St leonards is not London.

I have seen this hike in prices time and time again. But really do not understand why this area seems to have out performed others.

Yes the prices there have always been cheap, but there was good reason for that.

Land registry does not seem to reflect this but it is happening nether the less.

Can anyone enlighten me?

An example http://www.rightmove.co.uk/viewdetails-151...se&tr_t=buy

Edited by Malarkey

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I belive a lot of Londoners own/want to own a holiday home by the seaside; so possibly MEW on rising London properties to buy second homes in St Leonards/Hastings other coastal towns. Also, massively escalating property prices in Brighton might have pushed buyers out to neighbouring towns hence more competition for properties in places like St Leonards?

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Guest Cletus VanDamme
I belive a lot of Londoners own/want to own a holiday home by the seaside; so possibly MEW on rising London properties to buy second homes in St Leonards/Hastings other coastal towns.

Yep, it's the unfortunate ripple effect in action.

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It is driving me mad

Found a two bed flat that was sold june 06 130 k, now on for well over 160K

I have to sell due to my partners death. Want St leonards for various reasons. Did not move last year as it was to soon and I was not ready to leave our home.

Now the market has increased by 30 plus %.

I am concerned that these prices are not substainable for the area and if in a few years, because of work I had to move again, I may not be able to sell and would have no chance of letting as rents would be to high for anyone to afford and I would be stuck there.

Still much worse for the poor sods who already live there and cannot aford to buy. They must be really p... off.

30 plus % increases in 5/6 months. Its not London.

Rant over.

Edited by Malarkey

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I cannot understand why anyone would want a second home in St leonards or hastings.

Yes some of the building are really pleasant. However much of it is really run down with high unemployment and crime rates.

As for any thought of swiming in the sea, even the gulls would not risk it.

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It's cracked. I can't believe the prices the houses where I was brought up (Hastings' Clive Vale) are going for. Back in those heady days when you could get a house with a garden on a single HASTINGS salary. Now in 2007 those same FTB properties that young families lived in in the 80s won't leave you with change from £170,000. And I hope you both enjoy the two hour train ride to London...

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Good lord. I've just taken a look at St Leonard's prices. They kick even Brighton prices into touch! :o:o

Bungalows for £300K!!! My wife's old landlord must be absolutely laughing.

The area is going to be DESTROYED in the crash.

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I cannot understand why anyone would want a second home in St leonards or hastings.

Yes some of the building are really pleasant. However much of it is really run down with high unemployment and crime rates.

As for any thought of swiming in the sea, even the gulls would not risk it.

I was in Hastings a few months ago and had a look in EA's windows. Noticed a lot of ads aimed at BTL investors (e.g. 'investment buyers only' or several properties for sale in one package). So maybe they are responsible for driving up prices by buying up properties too, to let to DSS tenants maybe?

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It maybe BTLers or students parents ?

Sussex University is opening/has opened parts of a campus in Hastings.

[/quot

Eatate agents claim London and Brighton buyers have pushed the market up and are responsible for the 25% increase I have seen for some properties.

However no London or Brighten buyers out over the last month due to rain.

Everyone seems to be waiting for next weeks Location Location Location. Then it is thought that sales will take off and the huge mark ups to be justifed.

So I wait with baited breath.

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Malarkey, I'm in Hastings and i have parents in St Leonard’s.

Did you by any chance see Location, Location etc tonight?

It just goes to show in my opinion, how out of prospective the market around here has become, 2 bed ground floor flat 150k and a 5 bed HOUSE for 208k

I was also pi55ing my self laughing when krusty and Phil were taking about the re-generation of the sea front with the rebuilding of the pavilion and the and renovation of the shops under the marina.

If you've been down here for at least 2 years you'll know that there is NO re-generation in St Leonard’s. And i have to admit, the only changes I have seen (and i'll admit, I really try not to spend much time in St Leonard’s) has been the immigrants setting up very cheep looking shops and cafes. .

I have to agree, the a55hole of East Sussex aka Hastings and the surrounding areas are going to be in for a serious shock, all these folks that have moved from affluent towns of Brighton, London etc are going to find themselves debt trapped in the next couple of years in my honest opinion.

I currently renting a 2 bed terraced house for less than a 2 bed flat, and I’ll probably be leaving by the early part of next year, why anybody would want to buy around here (apart from cheaper prices compared to Brighton. London etc) is totally beyond me.

Maybe house prices around here will rocket, somehow, I doubt it will !!!!!

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Malarkey, I'm in Hastings and i have parents in St Leonard’s.

Did you by any chance see Location, Location etc tonight?

I was also pi55ing my self laughing when krusty and Phil were taking about the re-generation of the sea front with the rebuilding of the pavilion and the and renovation of the shops under the marina.

Yeah, me and mine had a massive laugh when they showed a quick camera grab of St. Leonard's main seafront shopping area - forget the name of the road but it's the bit with the Bengal Curry House (which they even showed!). Naz does a good curry there but that street is just rough as a badger's ****. Isn't the extent of the regen in that area popping those strange coloured things on the promenade?

I was hoping they'd show King's Road and all the gangs of kids chucking bottles round the station. :D

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Hi Disillusioned ftb

I have just found yor post I did see the LLL

I put this response on a nother thread but have pasted it here also. So Sorry to anyone who reads it twice.

The 250k flat sale did not go through. It came back on the market priced at 162k.

So 10k price increase within 3 months OR 24.6% over the year that the seller owned it.

Also flat looked much better on film than it does in real life. Although I agree it was a nice flat.

If they had problems with an extra £65 per month mortgage payment. The management service fees probably finished them off.

Anyone even thinking of a flat down there really needs to be careful.

As not only are many of the decent flats tied into 1000 to 1300k per year service charges. Some of the maintaince programmes are really expensive.

Although so far many seem to be fur coat and no knickers. I.e. they are repainted regularly but damp in basements and old roofs ignored. But hey how cares as long as they look good on the out side.

There is no way you can get a structural survey done. So you really will not know what you are buying

Or what you are buying into. IE if work needs doing have the over flat owners got the money to put in the kitty.

I now that you are meant to be able to get out of or challenge excessive management service's. But this is very hard, very expensive and time consuming.

It seems that Estate Agents have successfully beaten the market up and are hoping that once this programme was shown and the Sun comes out buyers

interest generated will justify the price increases. Those London and Brighton buyers that I have been repeatedly told are responsible for pushing prices up.

I had a fantasy of direct action. I.e. with spray paint or something indelble. Printing neatly on each property its asking price and the previous price it was sold for and then the parentage of increase. Because I really do not think many people check or are aware of how many properties down there were sold last year and now back on the market at inflated prices, like the flat above. Silly I know but I am really fed up, so the fantasy is born out of desperation.

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Well having followed the St Leonards market for sometime it does seem that it has been estate agents attempting to beat house/flat prices up.

I had been watching about 4 flats, one of which has just come down from £169 to £165. Two of the others apear to have sold but am intreasted to see if the sales go through and if so what the actual sales price.

Has anyone else been following this market and if so what are your views and experinces.

Many of the estate agents are terrible. Sellers themselves are compaining and giving out their own contact details. Many viewing are now being doen with out Estate Agents present and the mulitible veiwings seem to be knocked on the head.

Has anyone else been following this market and if so what are your views and experiences.

Many of the estate agents are terrible. Sellers themselves are complaining and giving out their own contact details. Many viewing are now being done without Estate Agent’s being present and the multiple viewings seem to be knocked on the head.

I am starting to reconsider my plans and maybe rental property is the way to go. Previously this idea had been a no go, as I really want security of tenure and really did not fancy the problems of moving every 6 months, along with loads of other fears about the rental sector.

Edited by Malarkey

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OK some more St Leonard’s madness.

These flats may seem cheap compared to London or Brighton. However St Leonard’s is neither.

Anyone who knows the market down there will find these prices preposterous. Also the Land Registry will confirm what sort of price these places would have fetched last year and comparative prices for this year.

I think the vendors and EA must be hoping that an incredibly naive buyer happens to materialise.

I shall be interested to see if they sell and how much for.

Edit sorry none of the links work.

So have pasted details

1 Marine Court, £330,000

Bedroom 1:Bedroom 2:Reception 1:Kitchen: 12'8 x 11'8 12'8 x 12'41 9'8 x 11' 9'4 x 9'

2 Seaside Road £250,000

Bedroom 1:Bedroom 2:Reception 1:Reception 4:Kitchen:18'3 x 12'3 13'2 x 12' 121' x 12'2 9'7 x 4'4 18'6 x 11'8

3 Warrior Square £250,000

Open Plan Lounge / Kitchen 20 ft by 18 ft 5

Master Bedroom 18' 8" x 9' 5" with en suite

Bedroom Two 14' 10" maximum x 13' 10"

Family Bathroom

4 £240,000

Front door, video entry phone system, electric heaters.

Lounge Area 21' 10'' x 15' 3''

Kitchen Area (10' 7'' x 8' 7'')

Master Bedroom (13' 1'' x 12' 11'')

En-suite Shower/WC

Bedroom (9' 2'' x 8' 8

Bedroom(9' 0'' x 5' 11'')

Bathroom/WC

Balcony

5 £215,000 Hollington Park Road

Lounge/dining Room 17' 5" x 11' 4"

Kitchen 11' 3" x 8' 4" ( 3.43m x 2.54m )

.Master Bedroom 15' 4" max x 11' 3" to

En Suite Shower Room

Bedroom Two 12' 8" x 9' 5" ( 3.86m x 2.87m )

Family Bathroom

There is access to a communal garden

Edited by Malarkey

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Does anyone know what is happening there now? I was vaguely interested in the Old Town at one point. It's very hard to tell as although some of the houses/flats in Hastings/St L have been on the market for more than a year, the EAs don't seem to ever actually 'reduce' the price....does anyone have an update? I can't believe that anything's selling....

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Does anyone know what is happening there now? I was vaguely interested in the Old Town at one point. It's very hard to tell as although some of the houses/flats in Hastings/St L have been on the market for more than a year, the EAs don't seem to ever actually 'reduce' the price....does anyone have an update? I can't believe that anything's selling....

I think the buyers and sellers are still in "stand-off" mode

I've seen a whole lot of "TOiLET" boards recently, one of which is a rental property I personally have vacated in the town centre. the laughable thing is they've even got the cheek to advertise it for MORE mony PCM than i was paying for it !!!!!!

and to top that theres LOADS of properties for rental on the same road which have been vacant now for some time.

I got lucky with a perfect rental just outside of Hastings and for an additional 95pcm I've got the sound of birds in the trees, and a lot more space for my family to grow. I even got a stone from the beach with a hole through it ;)

Shop around, a GOOD rental property doesn't hang around long so you got to be quick, but if your seriously thinking about buying, well I personally know of at least 1 SERIOUSLY desprate seller who can't find a buyer, and a few others who would love to sell their houses to you so they can rent.

hope that helps

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my experience is that St L rent levels have plateaued, at least for what i look for (2 bed flat in nicer streets not far from station).

i think the reason St L shot up so much pre-crash and why it's not down that much is that (unlikely as it seems), the place is actually improving in some ways. e.g. the new museum, the university campus, the new rd to bexhill, regen buildings and see http://www.urbanjunkies.com/london/08/0908-hastings.html. it will never be brighton, and we may have an excessive helping of savages for a while yet. but i do feel that things are slowly edging up here.

of course a 5 yr recession will flatten us as much as anywhere.

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