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Location Revisited

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Ah yes obviously one of the selling points is the fact that it's been on relocation relocation, even a nice picture of the developer with Phil there :lol:

What else? Early viewing recommended, no late viewings for this one, you can't afford it.....

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I watch the prog and thought the fireplace in that re-development would be a big selling point (nothing like an original feature to whet the buyers appetite)-

the numpty's gone and painted it2187_60615738_IMG_03_0003.JPG:o:o

Edited by Griptool

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Phil looked really impressed with the poor guy becoming a developer in a highly depressed property market. He looks a pretty decent family man though, and it is a pity that he has been inspired by Phil's property porn shows.

He has a family of four to feed, after all :huh:

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There's one 400 yards away, Two bedroom semi-detached bungalow located in the seaside town of Shanklin. A 16'6" lounge, kitchen/breakfast room, shower room with separate WC. Enclosed mainly lawned garden, driveway and garage

http://www.rightmove.co.uk/viewdetails-163..._showcase=false

£177,500

vs

£239,950

Or there are cheaper 2Bd bungalows @ £155,000 with no garage.

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Guest happy?

The thing about the IoW that no-one tells you is that it's a very expensive place to live and with no jobs except low-paid service jobs in old people's homes. Throughout most of the 1980s the island had higher levels of unemployment than most of the industrial midlands and the north east.

It has no manufacturing base (it costs too much to import and export materials by ferry), most property is grossly over-priced (because people insist on overpaying when they retire), and most work is highly seasonal - either tourism-based or agriculture.

£240k for a 2 bed bungalow is probably 16x the average local income.

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he has followed the age old "property-developer" formula of painting everything magnolia, laying some cheap laminate, and dumping some stone chips in the garden.

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The thing about the IoW that no-one tells you is that it's a very expensive place to live and with no jobs except low-paid service jobs in old people's homes. Throughout most of the 1980s the island had higher levels of unemployment than most of the industrial midlands and the north east.

It has no manufacturing base (it costs too much to import and export materials by ferry), most property is grossly over-priced (because people insist on overpaying when they retire), and most work is highly seasonal - either tourism-based or agriculture.

£240k for a 2 bed bungalow is probably 16x the average local income.

agreed. the island is totally overpriced and nothing is selling at the moment. second homes / holiday homes / btl's have been the driving force is the last few years. as soon as sellers realise that these types of sales are in decline prices will fall more rapidly than on the mainland.

as a side note...someone mentioned that the salesman/landlord/'property developer' on tonights programme seemed a decent guy......i thought he as a tw4t.

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Then Phil returned August 2007 and found that they had sold the pub and the guy had become a

...

....

......

property developer. <_<

And showed his latest development.

Which as of now is still for sale

http://www.rightmove.co.uk/viewdetails-842...21&tr_t=buy

That's funny! Just watched the end on Ch4+ 1 and said to gf that the dream can hardly have come true if they are now relying on selling houses for an income.

Some of his last words were 'I'll probably do another one before the year is out'

Sorry mate, time to get a real job

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agreed. the island is totally overpriced and nothing is selling at the moment. second homes / holiday homes / btl's have been the driving force is the last few years. as soon as sellers realise that these types of sales are in decline prices will fall more rapidly than on the mainland.

.

There is a bit of competition in the market at the moment. On Rightmove alone there is 9000 properties up for sale on the Isle of Wight. Population 130000. Prices are about to drop loike a stone (again) :lol::lol::lol:

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There is a bit of competition in the market at the moment. On Rightmove alone there is 9000 properties up for sale on the Isle of Wight. Population 130000. Prices are about to drop loike a stone (again) :lol::lol::lol:

don't know if you have noticed that prices have started coming down (and still not selling)

example:

this house has been up for months (6+)....originally priced at 249k

now on rightmove at 220k

http://www.rightmove.co.uk/viewdetails-848...=1&tr_t=buy

and on the EAs site at offers over 210k

http://www.pittisandson.co.uk/searchresult...D=2008227223531

note to vendor.........STILL NOT SELLING....GET THE MESSAGE!!!!

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Wow! I love this site! I also watched it.

I pity anyone foolish enough to think that buying a pub (even at the seaside) is a recipe for spending extra time with the family.

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Wow! I love this site! I also watched it.

I pity anyone foolish enough to think that buying a pub (even at the seaside) is a recipe for spending extra time with the family.

i stand by my previous post

"as a side note...someone mentioned that the salesman/landlord/'property developer' on tonights programme seemed a decent guy......i thought he as a tw4t".

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don't know if you have noticed that prices have started coming down (and still not selling)

I have been keeping a very close watch and can tell you that IOW prices started to drop quietly in Q3 2006. Hopefully young locals will be able to buy in a couple of years time, start breeding and revitalise the villages and village schools. Second homes should be taxed heavily to help the local economy . Death to all second home owners :ph34r:

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I worked in Sandown once - sizable population of people from up north - Scotland, Liverpool etc living there - council tennants I m told.

True - not many jobs and a drug problem. The other side that the 2nd home owners club shut out probably.

Nice in the summer to visit.

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This program was on in the kitchen when i was pottering about, was i right in hearing that in the recap from the original show they had a budget of 300k, that comprising 240k mortgage and only looking for an income from the pub of around 18k!!

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I never knew there were so many posters on here from the Isle of Wight.

The housing market is looking decidedly dodgy around here at the moment. Compared to local wages, they're insanely expensive and it's only second home money keeping it up. Stuff also takes an age to sell and it does indeed look like prices are starting to come down.

It is indeed lovely here in the summer but there's naff all the rest of the year and as somebody else said, there are basically 3 career options - benefits, minimum wage or a government job in the schools, prison, hosiptal etc.

If the London money ever disappears from here then the housing market will be proper f***ed.

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I have been keeping a very close watch and can tell you that IOW prices started to drop quietly in Q3 2006. Hopefully young locals will be able to buy in a couple of years time, start breeding and revitalise the villages and village schools. Second homes should be taxed heavily to help the local economy . Death to all second home owners :ph34r:

I had a devil of a job offloading a flat on the island in '05 -'06. I dropped the price £5k per month until it was sold - took about 9 months as I recall.

The really bizarre thing is it's cheaper to take the car to France than to the IOW.

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This program was on in the kitchen when i was pottering about, was i right in hearing that in the recap from the original show they had a budget of 300k, that comprising 240k mortgage and only looking for an income from the pub of around 18k!!

18k was what they had calculated they could personally live on, as a bare minimum.

They said the pub turned over 200k a year, with a profit of 30k as it stood.

It had further potential with investment in a kitchen to provide food, adding a further 30k annual profit.

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the repeat is on tonight.....i think i'm gonna watch it again, just so i can hear him say one more time....."i'm gonna sell this one and do another before the year is out" :lol:

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  • 298 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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