Brighton Area

[Ananda]

Hi,

I was wondering if anyone here is actively looking to buy a property in Brighton at the moment, not just checking out the market? I have been looking for a flat in Brighton for the past months and the results were very disheartening. Trying to get a decent flat in a nice area for 160K? Forget it. Gloomy 1 bed basement flats, not in a good condition, which are offered for 180K even. The more I was looking, the more I realised that many areas in Brighton are quite grim actually. And staying here is just not possible with these insane prices. It seems to me that you can only be a first time buyer in Brighton if you either are very rich or you are not bothered about the conditions you live in.

Brighton, I give up. I started to look at flats in Worthing instead, and wow, I didn't expect it to be so much cheaper. Basement flats seem not existant either. Nice, centrally located 2 bed flats in my price range. However, I received stupid jokes from friends who think it would be better to live in Portslade or Shoreham than in Worthing. Just because these places are closer to Brighton. I guess I will do a lot of travelling in the future but 25 min by train to Brighton is durable I think.

Does anyone here live in Worthing? How are your experiences?

[shell]

Hi,

Does anyone here live in Worthing? How are your experiences?

Fantastic! You're ahead of the rush. Don't listen to Brighton friends who've all bought here and want to believe there is nowhere else worth living. Good on you!

Edited to add, I have a host of friends who have recently moved to Worthing and St Leonards and are loving it in their lovely homes. Good luck to them. They weren't frightened into living in Brighton and it's paid off. Also many seemingly well off friends of mine are moving out of Brighton because of a combination of no schools places and job difficulties.

ROLL ON HIGHER INTEREST RATES!!!!!!!!!

Edited August 28, 2010 by shell

[christhpc]

Fantastic! You're ahead of the rush. Don't listen to Brighton friends who've all bought here and want to believe there is nowhere else worth living. Good on you!

Edited to add, I have a host of friends who have recently moved to Worthing and St Leonards and are loving it in their lovely homes. Good luck to them. They weren't frightened into living in Brighton and it's paid off. Also many seemingly well off friends of mine are moving out of Brighton because of a combination of no schools places and job difficulties.

ROLL ON HIGHER INTEREST RATES!!!!!!!!!

I love you Shell

[shell]

I love you Shell

Haha! Love you too!

[Ananda]

Fantastic! You're ahead of the rush. Don't listen to Brighton friends who've all bought here and want to believe there is nowhere else worth living. Good on you!

Edited to add, I have a host of friends who have recently moved to Worthing and St Leonards and are loving it in their lovely homes. Good luck to them. They weren't frightened into living in Brighton and it's paid off. Also many seemingly well off friends of mine are moving out of Brighton because of a combination of no schools places and job difficulties.

ROLL ON HIGHER INTEREST RATES!!!!!!!!!

Thanks Shell, good to hear that. With friends like mine, I needed some moral support...

The EA told me (and I think that's one thing I can believe him) that he had many people from Brighton recently looking to buy in Worthing.

More and more people will be driven out of Brighton and in the end Worthing will become the new Brighton! But without the crazy prices and the irritating hills. I'd love that. ;-)

[shell]

Thanks Shell, good to hear that. With friends like mine, I needed some moral support...

The EA told me (and I think that's one thing I can believe him) that he had many people from Brighton recently looking to buy in Worthing.

More and more people will be driven out of Brighton and in the end Worthing will become the new Brighton! But without the crazy prices and the irritating hills. I'd love that. ;-)

Plus it's s only a 25 minute drive away! Even less by train. It's nothing. Jeez, in London people have to travel an hour and a half to meet friends on the other side of town, in stressful traffic or on horrendously busy public transport. The only thing I'd say about Worthing is while it is undoubtedly much better value than Brighton, it looks like some developers / chancers /doer uppers have already been! They've taken some of the family houses, done them up and are now trying to flog them off for nearly as much as Brighton prices! Guess it only goes to show that if Brighton continues to go up, Worthing will go up too. If Brighton goes down - then it doesn't matter if you're in Worthing, does it.

[i wanna house]

wtf ?

http://www.rightmove.co.uk/property-for-sale/property-27530146.html?utm_content=ealertspropertylink&utm_medium=email&utm_source=emailupdates&utm_campaign=emailupdates_sep09&utm_term=buying&sc_id=4087517

and

wtf ?

http://www.rightmove.co.uk/property-for-sale/property-27524383.html?utm_content=ealertspropertyimage&utm_medium=email&utm_source=emailupdates&utm_campaign=emailupdates_sep09&utm_term=buying&sc_id=4087517

and WTF ?

http://www.rightmove.co.uk/property-for-sale/property-27530149.html?utm_content=ealertspropertyimage&utm_medium=email&utm_source=emailupdates&utm_campaign=emailupdates_sep09&utm_term=buying&sc_id=4087517

all new on today

[christhpc]

wtf ?

http://www.rightmove.co.uk/property-for-sale/property-27530146.html?utm_content=ealertspropertylink&utm_medium=email&utm_source=emailupdates&utm_campaign=emailupdates_sep09&utm_term=buying&sc_id=4087517

and

wtf ?

http://www.rightmove.co.uk/property-for-sale/property-27524383.html?utm_content=ealertspropertyimage&utm_medium=email&utm_source=emailupdates&utm_campaign=emailupdates_sep09&utm_term=buying&sc_id=4087517

and WTF ?

http://www.rightmove.co.uk/property-for-sale/property-27530149.html?utm_content=ealertspropertyimage&utm_medium=email&utm_source=emailupdates&utm_campaign=emailupdates_sep09&utm_term=buying&sc_id=4087517

all new on today

Haha. I wouldn't pay £30K for one of those terraced things on those streets, never mind £300K.

[SE20]

Haha. I wouldn't pay £30K for one of those terraced things on those streets, never mind £300K.

What do you mean, "on those streets"? They're all good streets

[christhpc]

What do you mean, "on those streets"? They're all good streets

I suppose they're alright if you like that kind of thing. Not the kind of place I'd lay down money for though. If I'm going to buy somewhere it's going to have a drive / some hope of parking within 1/2 mile of my home. And somewhere to put the colossal wheely bins that isn't blocking half the pavement. God help the place if they've got those dumpsters taking up even more parking now.

No offence.

[shell]

I suppose they're alright if you like that kind of thing. Not the kind of place I'd lay down money for though. If I'm going to buy somewhere it's going to have a drive / some hope of parking within 1/2 mile of my home. And somewhere to put the colossal wheely bins that isn't blocking half the pavement. God help the place if they've got those dumpsters taking up even more parking now.

No offence.

Yeah, I don't fancy living in a shoebox in the middle of nowhere either. As for the hill situation - treacherous in winter.

[i wanna house]

What do you mean, "on those streets"? They're all good streets

good except for all the bleedin rubbish ..

but mores the point .. surely two beds in small , even for hanover , terrace houses should be half of what they asking ?

[Ananda]

wtf ?

http://www.rightmove.co.uk/property-for-sale/property-27530146.html?utm_content=ealertspropertylink&utm_medium=email&utm_source=emailupdates&utm_campaign=emailupdates_sep09&utm_term=buying&sc_id=4087517

and

wtf ?

http://www.rightmove.co.uk/property-for-sale/property-27524383.html?utm_content=ealertspropertyimage&utm_medium=email&utm_source=emailupdates&utm_campaign=emailupdates_sep09&utm_term=buying&sc_id=4087517

and WTF ?

http://www.rightmove.co.uk/property-for-sale/property-27530149.html?utm_content=ealertspropertyimage&utm_medium=email&utm_source=emailupdates&utm_campaign=emailupdates_sep09&utm_term=buying&sc_id=4087517

all new on today

Normal Brighton madness - people spend 300K and then have a narrow shoebox with hardly enough space to put all their stuff in. And have to be careful not to bump into passers-by when they step out of their door as their 300K house is built right next to the pavement. I can't be bothered with Brighton anymore, have been renting here for years but buying something nice here is impossible.

[i wanna house]

Normal Brighton madness - people spend 300K and then have a narrow shoebox with hardly enough space to put all their stuff in. And have to be careful not to bump into passers-by when they step out of their door as their 300K house is built right next to the pavement. I can't be bothered with Brighton anymore, have been renting here for years but buying something nice here is impossible.

well not really that normal.. all those came up on the same day and all of them priced about 50k more than neighbouring houses. I was wondering if it was significant

[All Seeing Eye]

well not really that normal.. all those came up on the same day and all of them priced about 50k more than neighbouring houses. I was wondering if it was significant

I think you'll find the plan is to make it seem like a lot of neighbouring properties are a similar price thereby justifying the prices. However ANY buyer spending 1/3 million pounds would surely spend 5 minutes reviewing sold prices on rightmove or zoopla and see that they are all way over priced and therefore offer 50-100k less. The market is beginning to seize up again so when they drop them by 50k to a normal price, maybe they hope they will then appear as bargains.

Estate Agents don't do themselves any favours over valuing properties, they waste endless hours showing people round who will never pay these fictitious prices. Prices can only be based on what someone is prepared to pay, which is based on what others actually paid, NOT what an agent would like them to pay. I know agents who will refuse to waste their time marketing your property if they think the price is unrealistic, other agents will accede to get you on their books then try and get you to drop the price, but once they've implanted a crazy price in someone's head is easier said than done. I suspect sellers evaluate their properties worth based on what they see similar properties advertised for, not what they have actually sold for, big mistake!

Expect to offer at least 10% less on any property in Brighton that's been on for a while. Many will turn you down and likely never sell, unless a 'more money than sense' turns up, but the intelligent sellers will seriously consider it, based on future economic forecasts. Never make a second offer, walk away.

[mjhodgson]

Blimey, over 300 grand for one of those! OK, it's one of the slightly better areas in town (as long as you're not near any students), but I'd expect a lot more for that sort of cash. What on earth has happened to this town?

All those terraced places were built as railway worker housing for all the staff at the steam loco factory at the station. Now they are sold as places that no one who works and gets an average wage in town could possibly afford.

[The Floating World]

Hanover houses used to sell for about £50,000.00 in 1995, take a look on Zoopla at Islingword Street for further details. It looks like it peaked in October 2007 at £354,950.00 for 26 Islingword Street, but those kind of valuations seem to making a bit of a comeback.

Up north you can still buy terraces for £50,000.00.

I guess Brighton and Hove must just be the 'place to be'.

[All Seeing Eye]

Hanover houses used to sell for about £50,000.00 in 1995, take a look on Zoopla at Islingword Street for further details. It looks like it peaked in October 2007 at £354,950.00 for 26 Islingword Street, but those kind of valuations seem to making a bit of a comeback.

Up north you can still buy terraces for £50,000.00.

I guess Brighton and Hove must just be the 'place to be'.

No, those kind of valuations simply aren't selling. See this zoopla search of actually sold terraced houses in BN3 sold within the last year (most recent first), tells you all you need to know

eg: http://www.zoopla.co.uk/house-prices/BN2/?sold_price_types=T&sold_price_years=1&so=date&sd=desc

These are the actual prices people paid, which is the ONLY real indicator of a houses worth. Factor in that the post-crash mini boom over the last year has run out of steam as indicated for the last 2 months figures from Nationwide of -0.4% and -0.9%. Mortgage lending is at the 4th lowest in it's history and you are looking at a minimum of 10% drops over the next year but more likely a drop back to the peak-20% or more. THERE IS NO MONEY OUT THERE!!! (and no first time buyers) Chains will now rarely complete, so a cash buyer, worth their weight in gold can expect to get 20% off asking or you walk and they do not sell for at least 1-3 years.

There are no government tricks left (or needed to win elections or prevent bank collapse) to magic money out of thin air. The banks have now recapitalised to withstand the inevitable defaults/repo's, the election is over The crash is on!!!

Edited September 9, 2010 by All Seeing Eye

[The Floating World]

No, those kind of valuations simply aren't selling. See this zoopla search of actually sold terraced houses in BN3 sold within the last year (most recent first), tells you all you need to know

eg: http://www.zoopla.co.uk/house-prices/BN2/?sold_price_types=T&sold_price_years=1&so=date&sd=desc

These are the actual prices people paid, which is the ONLY real indicator of a houses worth. Factor in that the post-crash mini boom over the last year has run out of steam as indicated for the last 2 months figures from Nationwide of -0.4% and -0.9%. Mortgage lending is at the 4th lowest in it's history and you are looking at a minimum of 10% drops over the next year but more likely a drop back to the peak-20% or more. THERE IS NO MONEY OUT THERE!!! (and no first time buyers) Chains will now rarely complete, so a cash buyer, worth their weight in gold can expect to get 20% off asking or you walk and they do not sell for at least 1-3 years.

There are no government tricks left (or needed to win elections or prevent bank collapse) to magic money out of thin air. The banks have now recapitalised to withstand the inevitable defaults/repo's, the election is over The crash is on!!!

Thanks for the link, but a bit concerned that the latest listed sale is a two bed terrace on College Gardens which sold for £340,000.00 in July. Hardly a sign that those kind of valuations aren't selling. Most of the sub £300,000.00 sales were in areas where you would expect them, i.e. off Lewes Road and Whitehawk.

I'm hoping that prices will revert to long term averages but not convinced this will happen anytime soon.

[All Seeing Eye]

Thanks for the link, but a bit concerned that the latest listed sale is a two bed terrace on College Gardens which sold for £340,000.00 in July. Hardly a sign that those kind of valuations aren't selling. Most of the sub £300,000.00 sales were in areas where you would expect them, i.e. off Lewes Road and Whitehawk.

I'm hoping that prices will revert to long term averages but not convinced this will happen anytime soon.

That's one house that sold for that. Streetview it, maybe it's a really nice house on a really nice street, but the majority are selling way below that. The Zoopla ZIndex is £252,699. Most of the sub-300k sales in Whitehawk??? what are you on about! I suggest you look again but try a smaller area than BN3

I'd suggest you're not convinced they will return as you are an EA, a speculator or have something to sell in the area, why would you be on here with that attitude you HPC deniar I KNOW nothing is selling at the moment, the Agents know (but won't admit) it, just the sellers (and you) to wise up to the new reality.

Edited September 9, 2010 by All Seeing Eye

[The Floating World]

That's one house that sold for that. Streetview it, maybe it's a really nice house on a really nice street, but the majority are selling way below that. The Zoopla ZIndex is £252,699. Most of the sub-300k sales in Whitehawk??? what are you on about! I suggest you look again but try a smaller area than BN3

I'd suggest you're not convinced they will return as you are an EA, a speculator or have something to sell in the area, why would you be on here with that attitude you HPC deniar I KNOW nothing is selling at the moment, the Agents know (but won't admit) it, just the sellers (and you) to wise up to the new reality.

Sorry to disappoint you but I'm not an Estate Agent and have nothing to sell in BN1, BN2, or BN3. I've been dipping in and out of this site for over six years now and i'm still waiting for THE CRASH (ignoring the blink and you miss it 25% crash over winter 08/09).

It's an article of faith that it's a cert, but i'm too much of a sceptic to be a believer in that creed.

Whilst you look at the Zoopla figures and scope out all the lowest sellers as confirmation that prices are coming down, I can see that there's a whole range of prices paid in BN2 and a significant percentage are in the high £200's and low £300's. In fact of the 40 on that first page, 12 sold for over £300,000.00, 12 sold for between £250,000.00 and £299,999.99, 10 sold for between £200,000.00 and 249,999.99, and just six for under £199,999.99. So by far the most common selling price is above £250,000.00.

As long as the price of a two bed terrace in Brighton is lower than a two bed flat in London you will continue to have rising prices here. It's a fact that the market here for the last ten years has predominantly been driven by down from London types.

By the way College Gardens is not a great road and the houses are quite small. £340,000.00 is a ridiculously high valuation for a two bed terrace. My only thought is that it was gussied up to the nines and sold to someone down from London.

Edited September 10, 2010 by The Floating World

[All Seeing Eye]

OK well the reason I popped BN2 into zoopla was that it contains Islingword St the original road under discussion. BN2 is far too big an area to make real sense of stretching out to Saltdean! (works better fot other areas)

http://www.rightmove.co.uk/house-prices/find.html?outcode=BN2&country=england&incode=9&index=25&resultsPerPage=25&searchId=728964554&propertyType=4&buildType=1&yearSelection=1&originalIncode=9

sold prices of terraces in last year of smaller area Vs

http://www.rightmove.co.uk/property-for-sale/find.html?locationIdentifier=POSTCODE^1728246&sortByPriceDescending=true&displayPropertyType=houses&secondaryDisplayPropertyType=terracedhouses&radius=0.25&oldDisplayPropertyType=houses

for sale prices within 1/4 mile of Islingword St makes more sense. Using property bee on the for sale prices shows loads on sale many for close on 3 months. Those ones I would NEVER offer over 90% of the asking price. You could put 10 offers in at 50k below asking (taking into account what they paid for it to ensure they are physically able to drop) and one would probably come back. The agents wouldn't like it and may refuse to even pass them on (as it might make their valuations look dodgy - which they often are) but never forget it's your quarter of a million pounds and without it the agents don't eat! Austere times ahead, any serious seller who can will drop to compete. They price in a 5-8% reduction for offers anyway so we're only talking of sellers taking a 20k hit to avoid being on the market for next 2 years. If everyone played hardball in a falling market they'd fall a lot quicker. People just need to be educated that a 10% fall (minimum) is anticipated in the next year so don't get mugged.

This shows 20 properties within 1/4 mile of IslingWord St @ <= £270k (most would take £250k so no need to pay £300k (only 5 are 3 bedders though). 12 have sold within that price range. http://www.rightmove.co.uk/property-for-sale/find.html?locationIdentifier=POSTCODE^1728246&sortByPriceDescending=false&maxPrice=270000&displayPropertyType=houses&secondaryDisplayPropertyType=terracedhouses&radius=0.25&oldDisplayPropertyType=houses

Edited September 10, 2010 by All Seeing Eye

[i wanna house]

OK well the reason I popped BN2 into zoopla was that it contains Islingword St the original road under discussion. BN2 is far too big an area to make real sense of stretching out to Saltdean! (works better fot other areas)

http://www.rightmove...riginalIncode=9

sold prices of terraces in last year of smaller area Vs

http://www.rightmove...ertyType=houses

for sale prices within 1/4 mile of Islingword St makes more sense. Using property bee on the for sale prices shows loads on sale many for close on 3 months. Those ones I would NEVER offer over 90% of the asking price. You could put 10 offers in at 50k below asking (taking into account what they paid for it to ensure they are physically able to drop) and one would probably come back. The agents wouldn't like it and may refuse to even pass them on (as it might make their valuations look dodgy - which they often are) but never forget it's your quarter of a million pounds and without it the agents don't eat! Austere times ahead, any serious seller who can will drop to compete. They price in a 5-8% reduction for offers anyway so we're only talking of sellers taking a 20k hit to avoid being on the market for next 2 years. If everyone played hardball in a falling market they'd fall a lot quicker. People just need to be educated that a 10% fall (minimum) is anticipated in the next year so don't get mugged.

This shows 20 properties within 1/4 mile of IslingWord St @ <= £270k (most would take £250k so no need to pay £300k (only 5 are 3 bedders though). 12 have sold within that price range. http://www.rightmove...ertyType=houses

but but but

i think that those going for 250k really ought to be selling for around 180..... then i could buy one, except i am sick of it round here. dirt, rubbish and londeners .. ****** to this its shoreham or lewes for us...

[castrogtx]

Latest RICS

Geoffrey Holden FRICS, Parsons Son &

Basley, Brighton, East Sussex, 01273

274001 - Good level of activity and

increased instructions. Applicants seem

to be hesitant to commit, negative media

reports and difficulty with mortgages seem

to be causing the lack of confidence.

Good and bad again! Only the facts are causing a lack of confidence. There's no place for facts in home buying - surely.

Edited September 14, 2010 by castrogtx

[shell]

Latest RICS

Geoffrey Holden FRICS, Parsons Son &

Basley, Brighton, East Sussex, 01273

274001 - Good level of activity and

increased instructions. Applicants seem

to be hesitant to commit, negative media

reports and difficulty with mortgages seem

to be causing the lack of confidence.

Good and bad again! Only the facts are causing a lack of confidence. There's no place for facts in home buying - surely.

Love it when the twats say 'Negative media reports' are the cause of 'lack of confidence'. Like the economic crisis due to over lending and borrowing never happened!

Any thoughts on where rental prices are going? Same as usual? Plummeting over the winter as people stop moving home then rising again in April? Will those who couldn't sell over the summer be forced into letting again like they did last year or is there some new element in the game that I haven't factored in yet?

Edited September 14, 2010 by shell