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Thanks. No offence taken, but I do think there is a certain generalisation in the discussion. Not sure where I said I'd made a packet, or anything, on selling my house. Just that we had sold a place in London. Don't be too hard on people from other areas. Those in London probably struggle more than anyone to buy an affordable place to live.

I do agree with you on the 2nd home point, though you hope they're the ones who get burnt badly in the downturn.

No worries, I guess the "people like yourself" came across in the wrong tone.

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On the subject of commuting have you tried the train at Avoncliffe? I commute on the train from Freshford and its a great, although at £5 return for a 7 mile journey, at tad expensive.

Fortunately I can work from home for the immediate future, so I've yet to try the train. With all good intentions, and with summer just around the corner, I'd wouldn't cycling into Bath if I needed to commute, but we'll see whether that actually becomes a reality! I've been through Freshford several times so far and I'm pretty envious, although my fiance isn't a fan of the narrow roads!

I think we may have to wait it out also before we can realistically buy into the market. On the plus side, by being outside of town, we've managed to get a lovely house for very similar rent to that of a town centre apartment. So if we have to wait, atleast we've got the lovely countryside on our doorstep.

Good luck with the pregnancy and fingers crossed that we get that price drop with been hoping for!

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Land registry data out for March. -1.9% drop in Bath with -16% yoy, only 0.5% lower than the national average yoy. Immune my ****. Average house price still an eye-watering 204k but won't be long before we break that 200k barrier.

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According to http://www.breachwoodingram.co.uk/pastresults.htm

£47,500 !!

I wonder quite how bad that place must have been - where is lambridge st. anyway?

Ah, a quick google suggests it wasn't so much a flat, more of a basement and 'development opportunity' with planing permission :-) Thought it was too good to be true.

I used to live in Upper.Lambridge st.The house had a basement.I dont think Lambridge St has any houses with basements.

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Just a quick heads up for anyone who's interested

Topping & Company - Bath Events

Topping & Co Booksellers in Bath has a session coming up on the 16th of April with Vince Cable talking. He's going to be there to primarily gas about his book of course. However; it might be a good opportunity to really see if we can get some straight forward views from a senior political figure who was one of the first to recognise the foolhardy economic practices of our current government.

Vince Cable

Thursday 16th April

Vince Cable's knowledgeable and measured tones have been widely admired across all parties during the current financial crisis. We are delighted to welcome him to Bath to talk about his new book, The Storm, in which he sheds more light on the turmoil and its worldwide implications.

St. Michael's Church, 7 for 7.30pm. Tickets £7 with £7 off the book. Reception.

You can get the tickets from Topping & Co, got ours already.

Could be interesting to ask Vince about how likely the prospective further collapse of residential and commercial property prices in the country (including Bath) will go (spreading the fear from within :ph34r: ) as well as the world food shortages and the shift of economic power towards China and other nations

Edit: To add web link

Edited by Bockaaarck

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Hi All,

Just read through this thread yesterday and thought you might be interested in the data I have been collecting of the last FOUR :angry: years.

This one shows the number of rental properties (all types) on Rightmove from July 2005

Bath_Rents.jpg

This one shows the numbers of 3 beds houses for sale (what I am interested in) on Rightmove in the BA1 area (not quite the same area but I never imagined that I would end up with so much data...) from September 2004 :blink: .

Bath_3_bed_numbers.jpg

Anyway, the two graphs show a very steep rise in rental over the last couple of years and a fall in the numbers for sale. If everything else is equal I think we can say that there is a tendency to rent out whilst waiting for the market to 'pick up' (there will be other things going on obviously ;) ). On the plus side the numbers for sale appear to be just starting to rise.

I believe that this data shows that there are an awful lot of potentially panicky sellers in Bath. Bath is far from immune. It's just a bit behind the curve that's all. Another point is that a 10% fall nationally represnets about £15k in Bath the number is nearer £25k on the average semi... £250k fr the average semi, barking...

Cheers FTBagain

post-1956-1242834517_thumb.jpg

post-1956-1242834899_thumb.jpg

Edited by FTBagain

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Hi All,

Just read through this thread yesterday and thought you might be interested in the data I have been collecting of the last FOUR :angry: years.

This one shows the number of rental properties (all types) on Rightmove from July 2005

Bath_Rents.jpg

This one shows the numbers of 3 beds houses for sale (what I am interested in) on Rightmove in the BA1 area (not quite the same area but I never imagined that I would end up with so much data...) from September 2004 :blink: .

Bath_3_bed_numbers.jpg

Anyway, the two graphs show a very steep rise in rental over the last couple of years and a fall in the numbers for sale. If everything else is equal I think we can say that there is a tendency to rent out whilst waiting for the market to 'pick up' (there will be other things going on obviously ;) ). On the plus side the numbers for sale appear to be just starting to rise.

I believe that this data shows that there are an awful lot of potentially panicky sellers in Bath. Bath is far from immune. It's just a bit behind the curve that's all. Another point is that a 10% fall nationally represnets about £15k in Bath the number is nearer £25k on the average semi... £250k fr the average semi, barking...

Cheers FTBagain

Hi FTBagain, some interesting information you have there, certainly could be interpreted as a trend towards the potential for panicky selling in the future (From a selfish point of view i sincerely hope it is!). I would be a little wary though of totally following your conclusions quite yet as there is another side to consider.

Like yourself, I have been watching Rightmove for a number of years in the Bath, Wells location and there has definitely been an increase in rental properties on the site. I think however from my memory of 2003 - 2006 there were less rental properties represented on Rightmove as a whole, it mainly focusing on property for sale (more than happy to be proved wrong on that point though).

So I agree that there has been an increase in rental properties in the Bath area. However; I think we have to factor in that more rental properties have been marketed on Rightmove over the last 4 - 5 years anyway as part of its increasing attraction to letting agents, not simply just because there are people sat tearfully on the sofa hoping they can rent their rapidly depreciating housing 'asset'

That being said, In a funny way I hope I'm totally wrong and hope its proved that your conclusions are correct if not a little conservative! I do think there are a lot of people in Bath maintaining a facade of "Everything is just simply wonderful....." when it quite clearly isn't. I'm hoping that given another 18 months, if you, and indeed I, are in a position to buy a 'nice'3 bed home in a comfortable area of town, that we'll be in a position to buy it for less than £150,000 if not £120,000 at the most.

Fingers crossed eh :)

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Hi FTBagain, some interesting information you have there, certainly could be interpreted as a trend towards the potential for panicky selling in the future (From a selfish point of view i sincerely hope it is!). I would be a little wary though of totally following your conclusions quite yet as there is another side to consider.

Like yourself, I have been watching Rightmove for a number of years in the Bath, Wells location and there has definitely been an increase in rental properties on the site. I think however from my memory of 2003 - 2006 there were less rental properties represented on Rightmove as a whole, it mainly focusing on property for sale (more than happy to be proved wrong on that point though).

So I agree that there has been an increase in rental properties in the Bath area. However; I think we have to factor in that more rental properties have been marketed on Rightmove over the last 4 - 5 years anyway as part of its increasing attraction to letting agents, not simply just because there are people sat tearfully on the sofa hoping they can rent their rapidly depreciating housing 'asset'

That being said, In a funny way I hope I'm totally wrong and hope its proved that your conclusions are correct if not a little conservative! I do think there are a lot of people in Bath maintaining a facade of "Everything is just simply wonderful....." when it quite clearly isn't. I'm hoping that given another 18 months, if you, and indeed I, are in a position to buy a 'nice'3 bed home in a comfortable area of town, that we'll be in a position to buy it for less than £150,000 if not £120,000 at the most.

Fingers crossed eh :)

Bockaaarck

You make a good point regarding Rightmove's 'market share' of the letting advertising market.

I was aware that there was / is increasing competition on the sales side which may be artificially lowering the number of properties for sale on the site, but I was not aware that Rightmove were growing on the letting side. These two points would clearly have an impact on the trends however other evidence, such as a significant and noticable increase in the number of 'To Let' signs around the city in recent months supports the data. Also I would suggest that the company would have to be doing very very well to increase the numbers in the manner indicated on the graph :lol:

Also the comments regarding falling rents made in this thread suggest that supply must be increasing. Taken together these all point to considerable potential for significant drop in Bath house prices. Sooner or late the last straw will land on the camel's back...

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Hi there,

I'm looking for some advice really, I have been trying to sell my house in Holt - just outside Bath for nearly 12 months now. (I won't use this space to advertise - dont worry!) It's a lovely house but my job is in Reading so I am having to love down here at the mo. I have an estate agents in Bradford on Avon but think i need to look at putting it on the market in Bath as well to widen the market. Can anyone suggest the best Estate to use in Bath?

Many thanks. :) any other suggestions for helping me to sell would be most useful, I have already dramatically reduced the price - it's now a bargain!

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Hi there,

I'm looking for some advice really, I have been trying to sell my house in Holt - just outside Bath for nearly 12 months now. (I won't use this space to advertise - dont worry!) It's a lovely house but my job is in Reading so I am having to love down here at the mo. I have an estate agents in Bradford on Avon but think i need to look at putting it on the market in Bath as well to widen the market. Can anyone suggest the best Estate to use in Bath?

Many thanks. :) any other suggestions for helping me to sell would be most useful, I have already dramatically reduced the price - it's now a bargain!

For the widest coverage in Bath (assuming that it's a 'normal' house and not in the £1-2m+ bracket) the safest bet is probably Andrews - go into the George St branch and ask, and make sure it gets advertised in the subsidiary branches too. They seem to be more realistic on pricing too; some of the very high end properties round here are still unsold after a year with other agencies probably because they've only knocked 10% off the asking price.

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For the widest coverage in Bath (assuming that it's a 'normal' house and not in the £1-2m+ bracket) the safest bet is probably Andrews - go into the George St branch and ask, and make sure it gets advertised in the subsidiary branches too. They seem to be more realistic on pricing too; some of the very high end properties round here are still unsold after a year with other agencies probably because they've only knocked 10% off the asking price.

Great! thanks, but I just spoke to them, they won't take it on without my current agent doing all the viewings and working on a 60/40 split - which my current agent won't do. :(

I'm nowhere near the high end market but i have knocked 25% off the asking price. beginning to tear my hair out!

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Bockaaarck

You make a good point regarding Rightmove's 'market share' of the letting advertising market.

I was aware that there was / is increasing competition on the sales side which may be artificially lowering the number of properties for sale on the site, but I was not aware that Rightmove were growing on the letting side. These two points would clearly have an impact on the trends however other evidence, such as a significant and noticable increase in the number of 'To Let' signs around the city in recent months supports the data. Also I would suggest that the company would have to be doing very very well to increase the numbers in the manner indicated on the graph :lol:

Also the comments regarding falling rents made in this thread suggest that supply must be increasing. Taken together these all point to considerable potential for significant drop in Bath house prices. Sooner or late the last straw will land on the camel's back...

I can't say that I disagree with any of the points you've made there. Personally I think there is now certainly a trend, very subtle but it's certainly building. The panic is rising but typically of Bath I think it's an unspoken panic, slowly creeping in to the subconscious.

I was doing some nosing around on Nethouseprices.com the other day, putting in some Bath postcodes. The best result I got which really indicated to me how outrageous the HPI has been in this country is the following example:

Top Flat,

10 The Circus,

Bath,

Bath And North East Somerset,

BA1 2EW £285,000

Flat

Leasehold

Not New Build 28-Feb-2006

Map (BA1 2EW)

Top Flat,

10 The Circus,

Bath,

Bath And North East Somerset,

BA1 2EW £380,000

Flat

Leasehold

Not New Build 25-Aug-2006

Map (BA1 2EW)

Top Flat,

10 The Circus,

Bath,

Bath And North East Somerset,

BA1 2EW £465,000

Flat

Leasehold

Not New Build 05-Sep-2006

Map (BA1 2EW)

Ok, so fair enough, a flat on the Circus isn't going to suit everyone's, taste, budget or circumstances. Just take a look at the increase over less than seven months!

£180000 in just over half a year, I know we're not talking about a nice 2 or 3 bed semi in Batheaston or Oldfield park but that is madness. No wonder we are in such a mess, it's utter lunacy.

I sincerely hope that both you and I and our families can get through the next 18months to 3 years without suffering too much from the effects of unemployment, inflation, political unease etc, so that we can maybe buy a home for our families that we can reasonably afford without selling ourselves in to debt slavery for the foreseeable future.

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Great! thanks, but I just spoke to them, they won't take it on without my current agent doing all the viewings and working on a 60/40 split - which my current agent won't do. :(

I'm nowhere near the high end market but i have knocked 25% off the asking price. beginning to tear my hair out!

How long have you agreed with your current agent? Go through your contract with them with a fine tooth comb and see if you can get out early. Send them a letter notifying them of theend of your agreement with them and get your new agent redy to go asap.

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I can't say that I disagree with any of the points you've made there. Personally I think there is now certainly a trend, very subtle but it's certainly building. The panic is rising but typically of Bath I think it's an unspoken panic, slowly creeping in to the subconscious.

I was doing some nosing around on Nethouseprices.com the other day, putting in some Bath postcodes. The best result I got which really indicated to me how outrageous the HPI has been in this country is the following example:

Top Flat,

10 The Circus,

Bath,

Bath And North East Somerset,

BA1 2EW £285,000

Flat

Leasehold

Not New Build 28-Feb-2006

Map (BA1 2EW)

Top Flat,

10 The Circus,

Bath,

Bath And North East Somerset,

BA1 2EW £380,000

Flat

Leasehold

Not New Build 25-Aug-2006

Map (BA1 2EW)

Top Flat,

10 The Circus,

Bath,

Bath And North East Somerset,

BA1 2EW £465,000

Flat

Leasehold

Not New Build 05-Sep-2006

Map (BA1 2EW)

Ok, so fair enough, a flat on the Circus isn't going to suit everyone's, taste, budget or circumstances. Just take a look at the increase over less than seven months!

£180000 in just over half a year, I know we're not talking about a nice 2 or 3 bed semi in Batheaston or Oldfield park but that is madness. No wonder we are in such a mess, it's utter lunacy.

I sincerely hope that both you and I and our families can get through the next 18months to 3 years without suffering too much from the effects of unemployment, inflation, political unease etc, so that we can maybe buy a home for our families that we can reasonably afford without selling ourselves in to debt slavery for the foreseeable future.

Your example does not surprise me in a city where the average house (3 bed semi) sells for something close to 10 times average earnings.

AS for debt slavery... I flatly refuse to get involved in that game. Why should I bail out some feckless idiot who went in over their heads. I and Mrs FTBagain have saved for years to put together our deposit and frankly if we get it wrong this time we are probably too old to recover. This is really last chance city for us.

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Wouldn't ever wish to live in a flat again in Bath although it seems the most common as the noise from above can drive you insane (or did I just get unlucky) but the stock of (even vaguely) affordable houses outside of say Whiteway is obviously non-existant... is Bristol an alternative?

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Hi there,

I'm looking for some advice really, I have been trying to sell my house in Holt - just outside Bath for nearly 12 months now. (I won't use this space to advertise - dont worry!) It's a lovely house but my job is in Reading so I am having to love down here at the mo. I have an estate agents in Bradford on Avon but think i need to look at putting it on the market in Bath as well to widen the market. Can anyone suggest the best Estate to use in Bath?

Many thanks. :) any other suggestions for helping me to sell would be most useful, I have already dramatically reduced the price - it's now a bargain!

Hi

Well I can say "Don't use XXXX XXXX"... We used them to sell our house (in Bath). I hired them because of the very "positive, no nonsense" attitude that the estate agent displayed when I interviewed them... but they were bl**dy awful. If my house hadn't "sold itself" (if that makes sense) it would still be on the market... VERY unimpressed! Even now (as a chain free buyer) they still seem bl**dy useless...

If I sold again, I would use Whiteley Helyar: they were my "second choice" from the interviews and have been very pro-active since we have become a chain free buyer... Wish that we had used them to sell our house!

QT

MOD EDIT - POSSIBLE DEFAMATORY ITEM REMOVED. PLEASE READ FORUM RULES

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Bath is a nightmare trying to buy from my point-of-view at the moment... looking for a "larger family house (preferably period)" and the chronic under-supply of ANYTHING half reasonable is keeping prices artificially high.

Anything half attractive is under offer and often at silly prices. Saw a house that I really liked come onto the market a few weeks ago. It came on at 5% over what an identical house (but on a larger plot) sold for at the end of 2007. It had a ridiculous amount of interest/viewings and went under offer within 3 weeks. Am not sure for how close to the asking price - guess that I will have to wait for some months to find that out.

We seem to be looking in one of the worst (or "least affected by the recession") sectors of the market in Bath. Prices 10 miles out of Bath seem to be quite a lot more reasonable, but really want to stay in the city (because of husband's work and because we have a baby on th way...).

QT

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Bath is a nightmare trying to buy from my point-of-view at the moment... looking for a "larger family house (preferably period)" and the chronic under-supply of ANYTHING half reasonable is keeping prices artificially high.

Anything half attractive is under offer and often at silly prices. Saw a house that I really liked come onto the market a few weeks ago. It came on at 5% over what an identical house (but on a larger plot) sold for at the end of 2007. It had a ridiculous amount of interest/viewings and went under offer within 3 weeks. Am not sure for how close to the asking price - guess that I will have to wait for some months to find that out.

We seem to be looking in one of the worst (or "least affected by the recession") sectors of the market in Bath. Prices 10 miles out of Bath seem to be quite a lot more reasonable, but really want to stay in the city (because of husband's work and because we have a baby on th way...).

QT

I don't know which part of the market you're in QT but I've been tracking some very large reductions at the top end (the sector around £2m). There's a big refurbished Georgian semi in Lansdown that has recently taken £400k off the asking price having been on the market for a year at £2.25m. There's a huge Victorian mansion in Weston that has reduced by £300k from the same opening price. Both of the sellers have changed agent when they reduced which means that the 20-odd per cent reductions in the transparently ludicrous asking prices haven't shown up on PropertySnake

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I don't know which part of the market you're in QT but I've been tracking some very large reductions at the top end (the sector around £2m). There's a big refurbished Georgian semi in Lansdown that has recently taken £400k off the asking price having been on the market for a year at £2.25m. There's a huge Victorian mansion in Weston that has reduced by £300k from the same opening price. Both of the sellers have changed agent when they reduced which means that the 20-odd per cent reductions in the transparently ludicrous asking prices haven't shown up on PropertySnake

Hi

Unfortunately not - would be nice though! ;)

You are right - there is movement towards the top (£900k+) and the lower levels (I think that there are deals to be done on sub-£500k houses), but we are looking at £600-£650k at the moment - ideally one of the larger sem-dteached Victorian Edwardian with a nice sized garden. There is one on Combe Park, but it is actually too big (would require a huge amount of work to sort it out) and the garden is too small (the main reason for disinterest - can't do too much about a small garden). There is also one of Penn Lea Road: like the road, but am not convinced on the scope for a reasonable sized kitchen (without loosing one of the 3 reception rooms).

Am keeping my eyes open.... and within a few miles of Bath - just incase something "really worth being outside of the city" comes up). We are chain free buyers (with a good deposit) - so could move very quickly for the right property. Would just like to see some more on the market...

QT

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Hi

Unfortunately not - would be nice though! ;)

You are right - there is movement towards the top (£900k+) and the lower levels (I think that there are deals to be done on sub-£500k houses), but we are looking at £600-£650k at the moment - ideally one of the larger sem-dteached Victorian Edwardian with a nice sized garden. There is one on Combe Park, but it is actually too big (would require a huge amount of work to sort it out) and the garden is too small (the main reason for disinterest - can't do too much about a small garden). There is also one of Penn Lea Road: like the road, but am not convinced on the scope for a reasonable sized kitchen (without loosing one of the 3 reception rooms).

Am keeping my eyes open.... and within a few miles of Bath - just incase something "really worth being outside of the city" comes up). We are chain free buyers (with a good deposit) - so could move very quickly for the right property. Would just like to see some more on the market...

QT

Are you looking at Newbridge too - there has been quite a lot on the market that fits your kind of budget/description and the schools are quite good round there too.

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Are you looking at Newbridge too - there has been quite a lot on the market that fits your kind of budget/description and the schools are quite good round there too.

Yes... definitely one of the areas I keep my eye on. There were a few suitable houses in that area recently, but they were sold before we sold ours (we are renting at the moment). I want the house to last for the next 25/30 years, so it needs to be right for a growing family in that time.

I also want a house which is family friendly and "mainly over two floors" (rather than a narrow townhouse that has the main living accomodation over all 4 floors and a very narrow slopey garden to add). All being well, I am expecting a baby in late January: kitchen on ground floor, baby's bedroom on 3rd floor and an assualt course of a garden would worry me too much.

Just a waiting game, I guess... Hopefully someone will put a house that I like on the market for a half sensible price (we sold our Bath house a few months ago - for considerably below late 2007 prices - so cannot afford to pay peak prices for what we buy). We will give Bath another year, but if we cannot find something within that timeframe, then we are going to have to buy outside of the city... (although I am still keeping my eyes open now on the surrunding areas). Ideally we would like to buy now or certainly before Christmas, but I just can't see that happening at all...

QT

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I also want a house which is family friendly and "mainly over two floors" (rather than a narrow townhouse that has the main living accomodation over all 4 floors and a very narrow slopey garden to add). All being well, I am expecting a baby in late January: kitchen on ground floor, baby's bedroom on 3rd floor and an assualt course of a garden would worry me too much.

A number of our friends have done the big Georgian townhouse thing and have moved out for just those reasons - they just can't stand the stairs any more.

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A number of our friends have done the big Georgian townhouse thing and have moved out for just those reasons - they just can't stand the stairs any more.

At least I have worked that out before buying, then... I just can't see carrying a small baby up many flights of stairs regularly and then trying to control it when it "toddles"...

... Even many of the larger Victorian/Edwardian houses are often over 4 floors, but the main living accommodation is over the ground and first floors (with more occassional rooms on the 2nd floor and maybe a cellar). So that is fine.

Definitely don't want to rush into buying a house that turns out to be impractical with a young family.

QT

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I'm an FTB who's been watching the market in Bath for the past 6 months now, looking for a decent 3 bed in the oldfield park / bear flat area for under 200k.

There still seems to be a lot of stuff priced at 2007 levels, and anything half decent which comes on at a "reasonable" price often goes SSTC within a week or so. :huh:

Hmmph.

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