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i have spent all day looking into astaste agents in brighton and hove just to see if there where any customers in them i looked at about 30 agents. i only saw 2 customers . dont you think that sounds so sweet that they are bored stiff .i wonder how many of them are worrying about there jobs hahaha :lol:

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  • 4 months later...

Having just sold my house in Worthing I stand for the option again to buy or to rent. I have been looking at moving to a trendier area on the South Coast and was lloking at buying/renting in Brighton or Hove.

Nice Victorian 2 bedroom flats close to the see seem to sell for anything between 200K to 400K. Some prices are realy mad here. Rents are also high but well below the 5% interest of the same sale price.

When looking at latest homes and rightmove houses seem not to sell at all, also rental property seem to stick forever (4 months empty). Lots of houses are both in the for sale and for rent section.

I would like to get peoples other views of what they notice is happening in Brighton & Hove.

I will pick my rental soon - hopefully negotiating a good reduction. This will be my first rental since 1998. Having ridden the most of the property boom i know have another proplem, where do I invest my money safely.

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Having just sold my house in Worthing I stand for the option again to buy or to rent. I have been looking at moving to a trendier area on the South Coast and was lloking at buying/renting in Brighton or Hove.

Nice Victorian 2 bedroom flats close to the see seem to sell for anything between 200K to 400K. Some prices are realy mad here. Rents are also high but well below the 5% interest of the same sale price. 

When looking at latest homes and rightmove houses seem not to sell at all, also rental property seem to stick forever (4 months empty). Lots of houses are both in the for sale and for rent section.

I would like to get peoples other views of what they notice is happening in Brighton & Hove.

I will pick my rental soon - hopefully negotiating a good reduction. This will be my first rental since 1998. Having ridden the most of the property boom i know have another proplem, where do I invest my money safely.

Check also the data that i have collected from myhouseprice.com for the Hove area.

http://www.housepricecrash.co.uk/forum/ind...showtopic=11935

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Hi soldintime,

I also live in Hove and am currently renting. I have a nice healthy deposit for my first property but I'm quite happy to save money renting until prices come down significantly.

The BBC house price checker says flats in Hove have gone down 4.6% in the first quarter but this is well out of date already and I think prices have already come down 10%. Click here:

http://news.bbc.co.uk/1/shared/spl/hi/in_d...s/html/ml.stm?f

I take a fairly unhealthy interest in B&H House prices and my observations are as follows:

- the housing market is flooded. I've never before seen so many houses on the market

- properties are not selling. I live in a sought after development in Hove not far from hove and Brighton stations and in the last few years they would only be on the market for a few weeks. There are 2 now that have been for sale for about 4 months and one that's been for sale for a year.

- Sellers are still unrealistic in their pricing. The Latest homes is littered with 'new price' labels but they are still way too expensive.

- I estimate that it would be a good time to buy when prices have dropped 30-40% so when sellers get a bit more realistic/desparate I'll start viewing properties and making offers of 30-40% below peak.

- estate agents are always empty

- you used to see estate agents cars round town all the time (mishon mackay etc) but I rarely see them now.

- In a nutshell, knowone is buying in B&H.

Lets keep this thread going and we can update with our observations.

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Having ridden the most of the property boom i know have another proplem, where do I invest my money safely.

This is obviously a personal thing depending on your circumstances and there's no right or wrong answer. Personally as a higher rate tax payer I've gone for:

1. Cash Mini Isa (max every year)

2. Share Isa (max every year)

3. Premium Bonds (whatever's left)

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My flatmate moved down to Brighton with her boyfriend in December, and they are renting a flat in a new development in the centre. They are paying around £900 per month rent, and an identical, unsold flat was up for sale for £300K at the time they moved in. The rent that they're paying would cover about half of a repayment mortgage, which shows how far out of line some of the prices down there are.

My brother is in the process of fixing his house up for sale, and has been keeping an eye on the local market. He's been of the opinion that not much has been moving for a while. In general, good properties will sell quickly, whilst the rest hang around on the market for months. There's a house that I like the look of, and it's been for sale for getting on for a year now.

I think that prices peaked in Brighton sometime in the middle of last year. I don't know if they've come down a great deal yet, though the Hometrack survey suggested around 5%.

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My flatmate moved down to Brighton with her boyfriend in December, and they are renting a flat in a new development in the centre. They are paying around £900 per month rent, and an identical, unsold flat was up for sale for £300K at the time they moved in. The rent that they're paying would cover about half of a repayment mortgage, which shows how far out of line some of the prices down there are.

I also pay 900pcm rent and the repayments on a mortgage based on a 10% deposit to service that would be £1000 pcm (approx value of 200k) . With capital depreciation it doesn't take a genius to work out it's a bad investment.

I'm really enjoying watching the slide in Brighton. Can't wait to pick up a bargain when the time is right of some wannabe property investor who's lost thousands :P

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This is obviously a personal thing depending on your circumstances and there's no right or wrong answer.  Personally as a higher rate tax payer I've gone for:

1. Cash Mini Isa (max every year)

2. Share Isa (max every year)

3. Premium Bonds (whatever's left)

Sparker,

As highrate tax payer if you can put your money away for 5 years than the charity bank is your best bet. They give you tax relief of 5% plus they give you 2% interest as well. For high rate taxpayers this is equivalent of 10% on a savings account.

Check this site out for great deals and stories.

www.moneysavingexpert.com

:)

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  • 4 weeks later...

Had my walk along the EAs yesterday in Church Road Hove. I saw no visitors at all. Must be really bad. later that day I saw agents being open at 19:00 still waiting for the "potential buyer".

Now that i have completely settled in I will report weekly on the property market in Brighton & Hove.

Whatch this space.

:P

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This one:

£315K

Month ago £299K

Now £285K. I had a look at this one. Very high up steep stairs. No outside space. Needs new kitchen & bathrooms.

http://www.rightmove.co.uk/viewdetails-759...pa_n=8&tr_t=buy

It's now 275k.

265 by beginning of September? :)

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  • 2 weeks later...
  • 4 weeks later...
  • 1 month later...

Here is another one.

Used to be on market 2 months ago for £369K now for sale at £325K.

http://www.rightmove.co.uk/viewdetails-803...a_n=13&tr_t=buy

Asking prices on good looking property seems to come down.

Looks like the other house mentioned have found a buyer. But check this one. It has now dropped to £299K that is 20% lower than original.

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i have spent all day looking into astaste agents in brighton and hove just to see if there where any customers in them i looked at about 30 agents. i only saw 2 customers . dont you think that sounds so sweet that they are bored stiff .i wonder how many of them are worrying about there jobs hahaha :lol:

Why don't you see estate agents looking out of the window in the morning?

Because they would have nothing to do after lunch! Ha ha.

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this one sold now with asking price of £275K. Let see if it sells. and if it does lets get some nethouseprice data.

WE've just decided to move up to Brigton and Hove. Definately be looking at renting, anywhere with a lively feel and things going on for kids. Anyone know the best agents, newspapers etc. to check out for rentals? From our rented flat we intend to join you in watching sales price movements. Never owned a house before so we figure we can hang on another year or two if prices do start to slip. In the meantime thanks for all your data on house prices - an encouraging counter to all the stuff you read about how market has stabilised. Don't really know what to make of it all, but it does somehow feel "wrong" to buy at the moment...with ecconomic predictions so dire right now I can't see where the money would come from for further rises and nothing based on sentiment ever goes in a straight line, does it??

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  • 440 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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