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A repo in Rodbourne today(lifted from tommyboy's auction thread on the main board):

seems like it is slowly happening in Swindon. A three-bed terrace in that area could not be had for that sort of money recently.

Lot 215 ( Guide Price: 80 Plus )

Vendor: Mustbesold.com

Address: 6 Drew Street, Swindon, Wiltshire, SN2

The description from the Mustbesold.com website is: Freehold Terrace House Two Floor 4 Room(s) Garden Vacant © Mustbesold.com

Map: Click Here

Last Sold Price: £117,000 on 03/10/2005

Auction Result: Sold ( Highest Bid was: £83,500 )

Today's auction price results in a Loss of £33,500 ( 28.6% ) since purchase on 03/10/2005.

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Properties for sale within 3 miles of Swindon on Rightmove:

May- ~2100

late July ~3300

4th Aug ~3450

12th Aug ~3850

Sept 3rd- ~3350

Oct 6th ~3060

Dec 1st ~2500

Numbers dropping towards Christmas. Will they pick up afterwards though..?

I'll check the results of Strakers' auction, held on 27th November. There were 14 1/2 bed flats beside the railway station in that auction. The crash is on.

Is anyone out there...?

Edited by cheeznbreed
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Is anyone out there...?

Na still lurking mate.

May have found a bargain though :)

Prime location.

House for sale in Burderop, Swindon, Wiltshire - 4 bedrooms, 2 reception rooms, 2 bathrooms

* Guide Price of £850

* House

* 4 bedrooms, 2 reception rooms, 2 bathrooms

find a mortgage for £850

I think someone forgot a few 000s.

EA's site lists as £395,000 - guide price :(

Fox and Grant

Edited by Spook123
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Back to Brunel Crescent- SN2 1FE/1FD

Another hefty reduction:

http://www.rightmove.co.uk/property-for-sa...&radius=0.0

This property is now the market leader in the area, with the next closest coming in at just under 100k. These will surely start appearing at auction soon, and a proper price for these ludicrousy overpriced (sold new 150-180k) flats will be set. I'd be surprised if they made 70k at auction now, with prices surely going much lower in time.

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Back to Brunel Crescent- SN2 1FE/1FD

Another hefty reduction:

http://www.rightmove.co.uk/property-for-sa...&radius=0.0

This property is now the market leader in the area, with the next closest coming in at just under 100k. These will surely start appearing at auction soon, and a proper price for these ludicrousy overpriced (sold new 150-180k) flats will be set. I'd be surprised if they made 70k at auction now, with prices surely going much lower in time.

Why go for a flat when you can pick up a "nice" 3 bed terraced for 60K?

Rightmove

Though it is Penhill :)

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Why go for a flat when you can pick up a "nice" 3 bed terraced for 60K?

Rightmove

Though it is Penhill :)

Ah yes, I'm not interested in the flats, more I'm seeing how they drop as an indication of other falls. That place in Penhill is pretty cheap, even for its location. No way you'd get that earlier this year. Soon, these discounts will creep to the old town.

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The delights of a roof over your head?

Property repo'd mid 08.

On market for (91% of last sold.)

Initial offer 15% off marked price, 25% off last price sold - rejected. Offered 2k more - accepted.

Pulled out a couple of days before exchange.

New offer accepted at +30% of last price sold.

Apologies for being sketchy, but once I have the key's in my hand I'll open up with the info.

then nothing else you can stand in front of the EA/Seller and bargain like a b'stard :)

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Apologies for being sketchy, but once I have the key's in my hand I'll open up with the info.

no probs, thanks for sharing. Hope it's going well.

Here's a property(3 bed terrace), sold for 199,995 on 19th November 2004, sn25 2AY(Redhouse way)

just sold for 126k at auction:

http://www.auction.co.uk/residential/LotDe...amp;S=L&O=A

37% loss in four years.

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  • 3 months later...

Anyone still looking in Swindon?

What I'm Seeing:

1) SN25 area (Priory vale et.al) Lots of stuff for sale, resales seem to have to take 25% losses on sale prices from the peak years. 200K Buys a 4 bed detached if you arent too fussy about catchments. Actually, any it seems that any new builds in Swindon are taking a kicking.

2) Old town et.c. - Sellers seem split into 2 camps: Overextended 30-somethings looking to downsize and 50/60/70 something "Its still worth 2007 prices" who are stuck on the market.

3) Wichelstowe. Dead! Dont see anyone living there - just rows of shells of houses with occasional "reserved/sold" signs on them. Its going to be a building site for years and years down there....

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Anyone still looking in Swindon?

What I'm Seeing:

1) SN25 area (Priory vale et.al) Lots of stuff for sale, resales seem to have to take 25% losses on sale prices from the peak years. 200K Buys a 4 bed detached if you arent too fussy about catchments. Actually, any it seems that any new builds in Swindon are taking a kicking.

2) Old town et.c. - Sellers seem split into 2 camps: Overextended 30-somethings looking to downsize and 50/60/70 something "Its still worth 2007 prices" who are stuck on the market.

3) Wichelstowe. Dead! Dont see anyone living there - just rows of shells of houses with occasional "reserved/sold" signs on them. Its going to be a building site for years and years down there....

Swindon as a whole will see bigger falls because unemployment has hit big time. Also a fair few working in Reading/Newbury/Bristol bought in Swindon just to get on the property ladder (cos prices are cheaper) and these people will be looking to sell in Swindon and buy closer to Reading/Newbury/Bristol.

If I were you, I'd leave it another year - at least.

Now my thoughts on your thoughts.

1. SN25 is a very very nice area and convenient if your centre of gravity is North Swindon/ Cotswolds. But it is a bugger to get into the town centre in the morning and to South and South West Swindon.

If looking at new builds, haggle like hell and play one developer off with another. Also compare with existing older properties which will tend to have bigger gardens, be detached and will not be 3 storeys. If you see one you like, use the prices for new builds as a lever to haggle the price down.

Avoid the bit near the electricity pylons. Also the bits of SN25 nearer the A419 or the Orbital shopping centre are better than the bits further west which are more isolated. And you should pay less, the further West /South West it is (beyond the Orbital that is).

2. There is a lot less supply in Old Town which means you will get less for your money here than in SN25. But the houses are likely to hold their value more.

3. Wichelstowe, I would avoid like the plague. It is on a flood plain and while I understand they have built in drainage and flood prevention into the plans, at the end of the day, you can't buck nature. And also like North Swindon in the beginning, it will take at least 5 years for there to be any decent facilities there. On the plus side, it is near Nationwide and the M4. And much better than SN25 if your centre of gravity is to the south of Swindon.

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  • 3 weeks later...

I had a drive around SN25 today to see what was on offer - I have been renting for a few years now and am keen to buy - although prepared to wait if prices continue to fall. One thing I noticed is the amount of traffic or more precisely the amount of parked cars!! a lot of the properties have garages and spaces but they are placed away from the premises and unfortunately most of us Brits do not like walking!!! cars are on the road in front of the front doors.

I imagine this is an issue in the morning rush hour???

Also what is the traffic like going up thamesdown drive towards the A419, getting onto the A419 south and down to the first Honda junction?? ( i don't work for Honda ;-))

Any info on this area would be great positive and negative

many thanks

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  • 3 weeks later...
I had a drive around SN25 today to see what was on offer - I have been renting for a few years now and am keen to buy - although prepared to wait if prices continue to fall. One thing I noticed is the amount of traffic or more precisely the amount of parked cars!! a lot of the properties have garages and spaces but they are placed away from the premises and unfortunately most of us Brits do not like walking!!! cars are on the road in front of the front doors.

I imagine this is an issue in the morning rush hour???

Also what is the traffic like going up thamesdown drive towards the A419, getting onto the A419 south and down to the first Honda junction?? ( i don't work for Honda ;-))

Any info on this area would be great positive and negative

many thanks

I'm a resident of SN25.

I am one of those who doesn't use their garage. Most people around here seem to use their garages for storage. Also there are a lot of two car families around here, hence the cars on the streets.

Getting onto the A419 South from 7.15am to 8.45am used to be a nightmare and could take 20 mins. I'm not joking. However, now they have redone the junction it is very quick and queues are 2-3 mins at most. The bad news is that you have to go north on a slip road in order to go back south which adds a mile to your journey.

SN25 itself covers a multitude of sins. Don't buy near the electricity pylons!

Good things

- some lovely areas if you like gardens, newish houses and suburbia and very few bad bits

- none of the social problems you find in other parts of Swindon

- great amenities at the Orbital shopping centre, the new M & S has been a great hit.

- very handy for getting onto the A419 - Ciren is quicker to get to than town centre at times.

Bad things

- this area has only existed for 12-13 years so no real sense of community

- bus services are pretty poor unless you live near the Orbital shopping centre

- a bit far out from the town centre (5 miles from Old Town)

Any specific questions, let me know.

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Very interesting. We come from Reading but have been in the West Country for a lot of years. We are considering retiring to Swindon. Close to Reading but not the prices and the congestion. Will be looking at either a 2 bed decent flat or a modern house. No good at diy!

Our budget is around £130,000 and looking at SN25 it seems doable. Any thoughts please?

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Very interesting. We come from Reading but have been in the West Country for a lot of years. We are considering retiring to Swindon. Close to Reading but not the prices and the congestion. Will be looking at either a 2 bed decent flat or a modern house. No good at diy!

Our budget is around £130,000 and looking at SN25 it seems doable. Any thoughts please?

£130,000 is very very doable for a decent flat or modern house. Without being patronising, I find anecdotally that people from the likes of London and Reading overpay for houses in Swindon because they see the asking price and think "that's cheap" and don't even bother haggling that much.

I would say you would get a lot of change from £130,000 for a flat and you can take your pick of 2 beds for £130,000. As with all new houses, the rooms are quite small so you might want to consider a small 3 bed - still doable at £130,000 but you will have less choice, and it is likely to be a townhouse or on 3 storeys.

There is a lot of new developments in SN25 and Swindon as a whole. Hence modern houses are considerably cheaper than rarely older houses. I reckon you could get a good 2 bed flat for £90-£100k.

If you want to be near the A419 so that you can visit relatives in Reading, expect to pay a little more than the rest of SN25 in general. St Andrews Ridge and Groundwell West are nearest the A419. Followed by Ash Brake and Abbey Meads.

As I mentioned before, the area only began 12-13 years ago. Which means there are very few old folk. It is mostly suburban families. That is an advantage or disadvantage if you want to retire here - depending upon how you look at it. Also most of SN25 is very quiet. And yet you have the convenience of a massive retail park at the Orbital Centre. I don't know of any chav problems (very middle class area you see) but I can't say I have a brilliant knowledge of other parts of SN25 nearer 'old Swindon'. To be safe, you may want to avoid Groundwell West which is a part of SN25 which borders Penhill which anyone in Swindon can confirm does have chavs.

One down side about Swindon is that the over-supply of houses and the worse than average downturn in the town's economy will mean that you may not be able to sell that easily if you want to move again.

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Thank you very much for such a quick reply. Also it was very informative. So 90 to 100k is doable? Even better, lol. I`m not really fussed about being surrounded by other seniors however it would be nice to be chav free. Far too many down this neck of the woods. We could move at any time but we feel that the market is still some way off the bottom and we would feel comfortable selling and buying in a much more stagnant ( price wise ) market.

I am going to search the net for some piccies of the area and when next passing on the M4 have a drive around. Once again, thank you.

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I spent the other weekend wondering around the show homes in SN25 and it has put me right of buying a new build!!!!!

The way they dress the show homes is very clever and I admit it sucks you in - but the agent gave me a key to see some finished properties and I was shocked!!!!

70% of the doors did not shut flush

15 light and plugs were of centre and the hole cut was too bit for the fitting

the kitchen no where near had enough cupboards or draws

the garden was a stamp size and soil was old building material

the garden was like a goldfish bowl and overlooked by every angle

parking was in a centre square at extra cost

the double bed would not have fitted into the master bedroom as the door opened inwards and even if opened outwards you would of struggled to walk down the side

two out of the four bedrooms were not bedroom sizes!! more like cupboards

anyone else looked at new homes?????

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Thank you very much for such a quick reply. Also it was very informative. So 90 to 100k is doable? Even better, lol. I`m not really fussed about being surrounded by other seniors however it would be nice to be chav free. Far too many down this neck of the woods. We could move at any time but we feel that the market is still some way off the bottom and we would feel comfortable selling and buying in a much more stagnant ( price wise ) market.

I am going to search the net for some piccies of the area and when next passing on the M4 have a drive around. Once again, thank you.

You're very welcome! A friend has corrected me to say that chavs do congregate around the McDonalds in the Orbital shopping centre car park at night. But as it is not near any actual streets or houses it should be ok. The price falls here have been very steep so yes £90-£100k is doable. The reason prices have fallen so much is that there are zillions of new houses and the developers have deeply discounted pulling down prices of other houses.

And yes there is no rush because I think prices will fall more - the only question being that your existing house is also falling.

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I spent the other weekend wondering around the show homes in SN25 and it has put me right of buying a new build!!!!!

The way they dress the show homes is very clever and I admit it sucks you in - but the agent gave me a key to see some finished properties and I was shocked!!!!

70% of the doors did not shut flush

15 light and plugs were of centre and the hole cut was too bit for the fitting

the kitchen no where near had enough cupboards or draws

the garden was a stamp size and soil was old building material

the garden was like a goldfish bowl and overlooked by every angle

parking was in a centre square at extra cost

the double bed would not have fitted into the master bedroom as the door opened inwards and even if opened outwards you would of struggled to walk down the side

two out of the four bedrooms were not bedroom sizes!! more like cupboards

anyone else looked at new homes?????

Heh heh. I bought new in this area 12 years ago and it seems some things haven't changed. The doors didn't shut flush and there were very few right angles in the whole house. Mind you, houses do settle in the first few years, so sometimes even when the doors shut properly to begin with, they don't after a year or two.

Always ask how much floor space there is - this is a much better indication than number of bedrooms. The gardens of the newer one's are indeed small as the price of land was at its peak when these were built plus the building density regs that are in place. Mine has a massive garden though as when it was build 12/13 years ago, land was much cheaper. Mind you, it is standard practice for new builds not to have finished back gardens - it should be clear of rubble though - though it is down to you to get the top soil and lawn. This is one of the hidden extra costs of buying new (plus you have to buy and install a TV aeiral

I always thought my bedrooms were small but it seems like that they are getting smaller.

If you are after bigger gardens, look at some of the more established properties in SN25 and see how prices compare. You can even see which areas have big gardens by using google maps.

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You're very welcome! A friend has corrected me to say that chavs do congregate around the McDonalds in the Orbital shopping centre car park at night. But as it is not near any actual streets or houses it should be ok. The price falls here have been very steep so yes £90-£100k is doable. The reason prices have fallen so much is that there are zillions of new houses and the developers have deeply discounted pulling down prices of other houses.

And yes there is no rush because I think prices will fall more - the only question being that your existing house is also falling.

Thanks again. Yes of course there is the fact that our existing house is falling, today would get about £120 to £130 tops. So there is still a margin left if we are looking at flats.

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  • 2 months later...

Have started my property hunt here. There is oversupply of property here in Swindon as I have realised , and lots of builders have had their fingers burnt apart from small time home owners. As I am renting at the moment and madam will join me shortly in November, I thought lets start a property hunt to kill time. OK I am lying , I quite like buying houses.

I have decided on a budget of only 150k max. That too in the old town area, as if I ever moved , then the numbers would work. also old town will be in demand rental wise, as I remember I couldnt get a property in old town few weeks ago.

I have been going to the site of the old hospital in Okus and found some bargains there. There is a company willing to sell me 200k 3br new build for offers in region of 150k as I can proceed very quickly (I already have AIP approved , and my lawyer ready and strong finance and income)

then there is a flat (rightmove post code sn14gr at 129,950 , which is 3br , is in a good location and am sure he would take 115)

What are the catches in the area? is my question.

I understand the road from okus via oldtown to town centre would crawl in mornings ?

then again the risk with the new builds and how much they could depreciate!

However this seems to be one of the best areas of swindon, so any advice would be helpful.

I have heard that bloor homes are the company that run the development in Wichelstow, which has gone pants! so now wonder they may be despo to sell.

R

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Have started my property hunt here. There is oversupply of property here in Swindon as I have realised , and lots of builders have had their fingers burnt apart from small time home owners. As I am renting at the moment and madam will join me shortly in November, I thought lets start a property hunt to kill time. OK I am lying , I quite like buying houses.

I have decided on a budget of only 150k max. That too in the old town area, as if I ever moved , then the numbers would work. also old town will be in demand rental wise, as I remember I couldnt get a property in old town few weeks ago.

I have been going to the site of the old hospital in Okus and found some bargains there. There is a company willing to sell me 200k 3br new build for offers in region of 150k as I can proceed very quickly (I already have AIP approved , and my lawyer ready and strong finance and income)

then there is a flat (rightmove post code sn14gr at 129,950 , which is 3br , is in a good location and am sure he would take 115)

What are the catches in the area? is my question.

I understand the road from okus via oldtown to town centre would crawl in mornings ?

then again the risk with the new builds and how much they could depreciate!

However this seems to be one of the best areas of swindon, so any advice would be helpful.

I have heard that bloor homes are the company that run the development in Wichelstow, which has gone pants! so now wonder they may be despo to sell.

R

Some things to think about:

The road down from okus to town will be slow in the morning, although its not the worst trek in the world.

There are a huge amount of unsold flats on the development, and probably little demand at the moment to fill them - they dont seem to be selling quickly, based on house sale figures...my suspicion is that they'll end up in HA hands, and then all bets are off, even though okus and the westlecot part of old town is very desirable right now.

Bloor are just one developer down in wichelstowe - all the majors (DWH/wimpey/persimmon et.c) are building down there to with no-one to buy (flood plain + next to M4 + years of development + no services yet = why bother!) Wichelstowe is the Bradley Stoke of this economic cycle.

Bloor have tended to deal at about 15% below asking - or they certainly were at the turn of the year when I looked up there...might be feeling more bullish at the moment. Wichelstowe is the Bradley Stoke of this economic cycle.

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