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Gu16 And Camberley


dellboy
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Around Camberley and Frimley prices are definitely "softening". These are fairly affluent areas with loads of dosh coming from London but with prices still much lower.

I've been watching the 3 and 4 bedroom houses from £190 to £400 for interest and there have been many 3% to 5% drops. There are still sales, but the inventory is growing.

Anecdotaly, I'm not aware of many distressed sales. When I used to watch the auction market for area, there were no family homes that made it to auction. I'll need to sign up to IPDS to get on top of things again.

My gut says that the current mortgage market is going to make this correction accelerate in the short term before the reality of the "supply and demand" myth leave houses trickling downwards for a long time. Even if it just continues to drain away like this, it'll be great - I'll have a bigger deposit for when prices reach sane levels.

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  • 2 months later...
Around Camberley and Frimley prices are definitely "softening". These are fairly affluent areas with loads of dosh coming from London but with prices still much lower.

I've been watching the 3 and 4 bedroom houses from £190 to £400 for interest and there have been many 3% to 5% drops. There are still sales, but the inventory is growing.

Anecdotaly, I'm not aware of many distressed sales. When I used to watch the auction market for area, there were no family homes that made it to auction. I'll need to sign up to IPDS to get on top of things again.

...

Right. Thanks to Property-Bee and IPDS I can now give a nice update for GU16 and Camberley.

There is an auction property for sale in Frimley with ALLSOP! That's the first that I have seen since I started looking years ago. It's a mess inside (typical repossession) but otherwise it's OK. 3 bedroom typical semi on an ex-council estate but in very good school catchment area and surrounded by families with kids. There is definite evidence that is was occupied by a family. Newspapers (the SUN) lying in the rooms show it was empty since November 2007.

This seems mundane, but auctions must be very rare in this area as I have been on email alert with IPDS for ages and not got a single hit in Frimley until now. Property-Bee is showing price adjustments downwards for every type of property, property sales falling through (anecdotally) about 50% of the time and price wars between sellers in the same developments.

Conclustion: We're still GO for HPC in GU16 and surrounds.

Edited by dellboy
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A really nice property, but out of my league (for now :D )

Historydate	event30th Jun 2008	* Price changed: from '£675,000' to 'Offers in Excess of £550,000'* Status changed: from 'Available' to 'Sold STC'9th May 2008	* Price changed: from '£725,000' to '£675,000'4th Mar 2008	* Initial entry found.

Link to RightMove: 225K off

Agents sometime put the OiE figure, which gives a direct indication of what the actual sales price is going to be, I think. Some others are smarter and change the price to POA when it goes Sold STC.

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Dellboy, hopefully when property bee 2.0 is up and running properly we can share data! I look at camberley and 5mile radius. I am not in the price range of 550k, i'm a first time buyer!

As soon as i saw your link to rightmove and saw the agents i realised exactly why it has come down so much. I HATE vickery, they overprice property by the most i have ever seen. They were trying to sell us (gf and i) a 2 bed flat which had been stuck on the side of a house down Park Road in camberley. it was bought for 150,000 in June and they had split the lounge to create the second bedroom. and wanted offers IEO 200k for it, for some plaster board! It eventually went for about 170-175.

I'd ideally want to live in frimley green but its just too expensive for 3beds right now, hopefully in 6months this will have changed. Paddock hill is looking a likely spot though.

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  • 1 month later...
Dellboy, hopefully when property bee 2.0 is up and running properly we can share data! I look at camberley and 5mile radius. I am not in the price range of 550k, i'm a first time buyer!

As soon as i saw your link to rightmove and saw the agents i realised exactly why it has come down so much. I HATE vickery, they overprice property by the most i have ever seen. They were trying to sell us (gf and i) a 2 bed flat which had been stuck on the side of a house down Park Road in camberley. it was bought for 150,000 in June and they had split the lounge to create the second bedroom. and wanted offers IEO 200k for it, for some plaster board! It eventually went for about 170-175.

I'd ideally want to live in frimley green but its just too expensive for 3beds right now, hopefully in 6months this will have changed. Paddock hill is looking a likely spot though.

GU16 HPC Status: BIG FLASHING GREEN LIGHT

I'm glad to report that rentals are coming down nicely in GU16 as well. There are quite a few places that were for rent AND sale and have ended LET out. Something is forcing rents down and it's probably a variety of factors all acting together. Many asking rents for 4 beds have generally dropped by about £100 (estimated average) and 3 beds have gone down too. I laugh whenever I see the Dettingen Park rubbish 4 bed "townhouses" attempting to sell for £375K and attempting to let for £1600pcm. I gave that development two fingers up every time I drove past ever since it was finished. You can live on the civilian side of the forest where there are great schools and pay less for a detached house!

On the strength of all this, we've signed up to rent for another 2 years AST at £1050pm for a 4 bed detached in Paddock Hill.

Prices are still nowhere near the buy mark but are definitely not immune to the country-wide drops. And the larger deposits mean that it'll be years before normal humans can scrape together the hard cash required.

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GU16 HPC Status: BIG FLASHING GREEN LIGHT

I'm glad to report that rentals are coming down nicely in GU16 as well. There are quite a few places that were for rent AND sale and have ended LET out. Something is forcing rents down and it's probably a variety of factors all acting together. Many asking rents for 4 beds have generally dropped by about £100 (estimated average) and 3 beds have gone down too. I laugh whenever I see the Dettingen Park rubbish 4 bed "townhouses" attempting to sell for £375K and attempting to let for £1600pcm. I gave that development two fingers up every time I drove past ever since it was finished. You can live on the civilian side of the forest where there are great schools and pay less for a detached house!

On the strength of all this, we've signed up to rent for another 2 years AST at £1050pm for a 4 bed detached in Paddock Hill.

Prices are still nowhere near the buy mark but are definitely not immune to the country-wide drops. And the larger deposits mean that it'll be years before normal humans can scrape together the hard cash required.

Dellboy, your findings are the same as mine! Some nice places near henley drive coming up now but being a bit stubborn on price! I found a 4bed town house on dettingham park reduced to £230k recently though it sold pretty quickly after it had come down from £290k. I hope prices start coming down significantly soon as Frimley green is our perfect location, unfortunately it has unperfect asking prices!!

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  • 2 months later...

HPC Green Light: Frimley, Camberley, Mytchett

HPC slowed down around GU16 for a couple of months. There have, however, been a spate of new properties coming to the market and the drops seemed to have picked up again. Once places like this leafy 5 bed detached get sold, it'll drive the values of 4 beds down ... and so on I hope.

Mytchett seems to be bearing the brunt around here - schools are better in Frimley, I think - and Camberley is doing pretty well overall.

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  • 2 weeks later...

Drove through the centre of Ash Vale & Mytchett last Saturday night and answered my own question regarding the surfeit of estate agents in the area - it looked like Wellington Property Services was empty. That still leaves Mackenzie Smith and Bridges in the village itself, plus two more by the station. These guys must be turning their underpants inside out half way through the week to save washing powder, metaphorically speaking.

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HPC Green Light: Frimley, Camberley, Mytchett

HPC slowed down around GU16 for a couple of months. There have, however, been a spate of new properties coming to the market and the drops seemed to have picked up again. Once places like this leafy 5 bed detached get sold, it'll drive the values of 4 beds down ... and so on I hope.

Mytchett seems to be bearing the brunt around here - schools are better in Frimley, I think - and Camberley is doing pretty well overall.

I can report having accepted an offer 25% below peak for my 4 bed detached in nearby Fleet (GU52).

Also report every agent in Fleet is talking about prices coming down. Be happy guys.

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I can report having accepted an offer 25% below peak for my 4 bed detached in nearby Fleet (GU52).

Also report every agent in Fleet is talking about prices coming down. Be happy guys.

We've offered on a house in frimley within catchment of tomslincoat (top state school in area), offer excepted 16% below asking. Many places staying rediculously high though.

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  • 2 weeks later...
GU16 HPC STATUS: Paused

Maybe it was the "bounce", but prices have stopped much of the dripping away seen during 2008. Areas around GU16 continue to get a bashing, but I'm not following them as closely.

Dellboy, i'd agree, we pulled out of the house we had our offer accepted on because they wouldn't take it off the market until they had found a house to move too. Eventually they accepted a higher offer without telling us!

I haven't seen any drops in prices in Frimley Green for a while now, 3bed semi's sticking around 220 (going under offer at) which is appx 5% under asking.

Turned our attention to renting.

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I live in Ashvale area and have been waiting to buy for over 5 years now!

The area just doesn't seem to be affected by the recession at all. There is a bungalow for sale £199k nearby, I rang estate agents to view and he advised me 11 offers are already in and the current bid is at £225k! He said he couldn't understand the interest as £70k of work needed and investors wouldn't touch it with a barge pole.

What is happening to AshVale/Mychett area?? Shall I overstretch myself now on a pad in Avondale (!) or still wait....?

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lol mildura it does not. Nor does Sandhurst Comp.

I wouldn't go near avondale development. It's next to the caravan site and located where 2 railways cross each other.

And you need a car to go anywhere.

If you live in ash vale there's quite alot coming down in to the 200-210 region (3bed semis). Not sure what your target is.

I personally want to live in Frimley Green and that's still at 220 for some 2beds and most 3beds at 225-230. Odd that there's little difference between the 2 but property bee doesn't lie!

If you don't already have it, property-bee.com will help you.

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I live in Ashvale area and have been waiting to buy for over 5 years now!

The area just doesn't seem to be affected by the recession at all. There is a bungalow for sale £199k nearby, I rang estate agents to view and he advised me 11 offers are already in and the current bid is at £225k! He said he couldn't understand the interest as £70k of work needed and investors wouldn't touch it with a barge pole.

What is happening to AshVale/Mychett area?? Shall I overstretch myself now on a pad in Avondale (!) or still wait....?

We moved from Ash Vale 3 years ago and have kept an eye on property there to help us evaluate what is happening in our new area of Cardiff. To be honest, my wife has seen Ash Vale become far more competitive than Cardiff over the past twelve months and friends still living in Ash Vale report seeing property falling. Keep the faith! It IS happening there - just like it did in the early nineties which is when we first moved there. Without doubt there has been a small uptick in activity since Christmas and some of this has translated into sales, but this long awaited price correction is far from over and Ash Vale is not immune. A friend of mine owns a small two-man mortgage broking business in your area and they are struggling to keep their heads above water. You are probably seeing a few cash sales by people who think they are getting a bargain because prices are down on a couple of years ago. These can't sustain the market for long. Believe me, you have far greater choice in Ash Vale than we have in our neck of the woods near Cardiff. Your turn will come.

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  • 1 month later...

Oh wait, the prices will come down a lot more.

As for Frimley Green, the sooner Mr Wilkin goes bust the better, his blatent over pricing is partly to blame, for some reason the owners of properties seem content to leave them on the market with him for a year at the time. Those boxy 3 beds down cross lane are not worth £240k

Mind you, the FG chippy is pretty good, maybe that adds £50k to every house?

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lol pauly, indeed, the one on hadleigh garens was up for OIEO 250 for over a year. Its down to £240 now, a bargain.

All those Cross Lane, Garrick and Kingsmead hosues are under offer now and have been for over 2months. I wonder if any will come back. The last house to sell was in Garrick for 217. I don't thinkt hey are worth more than 200k today. Tomorrow i dont know.

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  • 3 months later...

Oh dear

This area is looking bad the us bears. I don't like to say it, but asking prices are back at silly 2007ish levels, but it's hard to tell if they're selling as they just vanish from rightmove. Any respectable house is selling/disappearing pretty quick but flats still look like they have issues. I think this is purely caused by the fact that there are so few houses coming on the market, when we see more houses on the market, I think we'll realise all the cash buyers have spent there cash.

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Oh dear

This area is looking bad the us bears. I don't like to say it, but asking prices are back at silly 2007ish levels, but it's hard to tell if they're selling as they just vanish from rightmove. Any respectable house is selling/disappearing pretty quick but flats still look like they have issues. I think this is purely caused by the fact that there are so few houses coming on the market, when we see more houses on the market, I think we'll realise all the cash buyers have spent there cash.

Exactly what i'm seeing Pauly_Boy. There are now no 3 bed room houses in Frimly Green under 250k. Quite a few in Sandhurs but prices beginning to edga back to Dec 2008. Everything is under off SSTC. However ourprices.co.uk or whatever the site affiliated on the front page of HPC has not updated me with any sales. Nor has anyone down the pub mentione dthey have new neighbours! There were about 6 houses in Crosslane area. None sold however one that sold last year went for 214 or 217. We were offering in this region and getting turned down all last year.

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  • 2 weeks later...

So have you seen those 4 new houses for sale in frimley green, Waterfords are suggesting that 3 of them have sold already. Did you have a look at them?

No because i believe they were 220 for 2beds and 250 for 3 beds? I think they were in Mytchett aswell. 'The Sett' ?

We're renting now, we move in at the end of this month. Can't be bothered with the house buying now, in 12months we'll take another look. We have our 10% deposit, but clearly when borrowing in the region of 180k, it's simply not affordable.

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  • 11 months later...

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