Jump to content
House Price Crash Forum
Sign in to follow this  
Miss Madam

Narrowboats

Recommended Posts

Anyone know how the narrowboat market is coping with the credit (repayment) crunch? I should imagine marine mortgages are hens teeth right now - I struggled to get one last year and bowed out in the end - there were just too many hurdles to jump over, I would also figure that a lot of folk are selling their hobby boats right now to raise some rainy day money for the recession. I have seen a local boatbuilder struggling to sell his latest 53 footer, and he has reduced the price by £4k, to £49k. She's a nice boat, but still vastly overpriced. Certainly in Oxford, where I am, boats have gone up massively in price due to the housing bubble, so has anyone got any more anecdotes that would either confirm or refute my thoughts, and general wishful thinking that narrowboat asking prices will plummet through the floor.... I went out with a chap who lived on a narrowboat once, and I love the life, but now doesn't seem to be a good time to buy a boat, or much else for that matter...

Share this post


Link to post
Share on other sites

I was wondering this myself recently, and tried to look to find out.

What was the name of the building society that used to do the narrowboat loans? I remember it was one in Stoke or Staffordshire, but I can't find it any more.

Share this post


Link to post
Share on other sites

The rise in diesel from 20p to £1.40 per litre (as you will no longer be able to buy red diesel after this ?autumn?) over the last 5 years will be the biggest killer.

Share this post


Link to post
Share on other sites
The rise in diesel from 20p to £1.40 per litre (as you will no longer be able to buy red diesel after this ?autumn?) over the last 5 years will be the biggest killer.

You still will be able to if the craft is for 'commercial' purposes. Its the pleasure craft / holiday makers that will have to use white diesel. To be fair, the date has been put back a couple of times, from 1/1/07 to 1/11/08, not sure if this is to the credit of the EU, the govt, neither or both <_<

Edited to add: Even 'red' diesel is over 80p a litre now. (Duty on this is 9p!)

Edited by Stourbridge Baggie

Share this post


Link to post
Share on other sites

I've been thinking about this as well. Also tried the Marine mortgage route two years ago and in the end gave up. I think there are some signs that the credit situation is having an effect. Browsing the listings on Apolloduck and Boats and outboards there are a few boats there with price reductions. It's always possible that they were just over priced but this is, from what I've been told anyway, a bit contrary to the market. Summer is the sellers market in winter it's more tilted in favour of buyers. I don't know what truth there is to that. Will be keeping a weather eye on things. Narrowboats like houses have been insanely overpriced. Some of the asking prices for the older boats are a joke. There is also very little consistency in pricing, some boats only very overpriced while others are eye wateringly over priced. It will be interesting to watch the prices and sales volumes now that credit crunch is biting and MEW is in turn affected by house price drops.

Edit - For clarity

.

Edited by fubar

Share this post


Link to post
Share on other sites

We tried the life briefly, without getting our fingers burnt.

Found it too restrictive & too cold (always colder on the water).

Built our own tough-truck luxury camper for a fraction of the price of a boat & hit the wideopen spaces of mainland Europe.

Go anywhere, easy shopping (you only have to load the stuff in once) & countless stopping places. Bliss.

Parking by a French canal & boat (antic) watching is a pleasant way to pass a few days.

No contest.........though I do miss sailing; though that choice was made through age!

EDIT:- a lack of 'o' in 'too'. Shocking!

Edited by Laura

Share this post


Link to post
Share on other sites

Interesting that in a downturn while people maintain "all is well" they start selling unnecessary assets (like boats) and trimming back on luxuries (new cars).

I was sure that a property crash was coming but it is starting to look like an entire economy crash - which given decades of over-spending, over-borrowing and living beyond means counting on the rising house prices to pay for it, isnt really surprising.

I personally know one BTL landlord who just sold her boat (before having a chance to enjoy it this Summer) and she is in negative equity on all fronts - having bought two properties in SE London at the market peak last Summer - one new build that has only just been completed and is worth less than she paid for it - and one large house that she spent six months renovating hoping to turn a good profit, to discover that even at full (mad) asking price she would only make 1k - so effectively in serious negative equity.

I will be very interested to hear what she now says about the market as two months ago she was still in denial about a property crash and saying that her part of London (SE4, SE 21, 22,23) was totally immune from any downturn...

Share this post


Link to post
Share on other sites

anyone who buys a boat to make money is nuts

they are fun! kids love sailing ./ fishing and always will

making money your having a larf!!!

buy a boat at the bottom mate .....

best thing you will ever do!

its a cycle .....

Share this post


Link to post
Share on other sites
The rise in diesel from 20p to £1.40 per litre (as you will no longer be able to buy red diesel after this ?autumn?) over the last 5 years will be the biggest killer.

Some interesting things going on in the field of fully electric boats. Quite fancy the idea myself of a boat that glides silently through the water. Touches of "

t" about the idea. Admittedly has drawbacks in range and speed restrictions. Still interesting.

Edit - to add link.

Edited by fubar

Share this post


Link to post
Share on other sites

Friend of mine has been trying to sell his house boat for the last year and a half, reduced it plenty of times. I think he has now given up trying to sell it.

Share this post


Link to post
Share on other sites

Bought a live-aboard 4 years ago - 50ft mfv, £35k. Loved it initially but the work required became too much. Sold it 2 years later for £78k (cheeky but it went quickly). Houses had also shot up massively in the same period so as a holiday home it could seem quite cheap. The boat next door has been for sale for about a year and half - no takers despite price drops......

Share this post


Link to post
Share on other sites
Some interesting things going on in the field of fully electric boats. Quite fancy the idea myself of a boat that glides silently through the water. Touches of "
t" about the idea. Admittedly has drawbacks in range and speed restrictions. Still interesting.

Edit - to add link.

Try sails :rolleyes:

Share this post


Link to post
Share on other sites
Yeah, need solar for that.

Ouch. :unsure: Stuck in a tunnel either way - Ho hum back to overpriced Diesel then. Till someone figures out how to use canal water and sunken shopping trolleys as fuel.

Share this post


Link to post
Share on other sites
Anyone know how the narrowboat market is coping with the credit (repayment) crunch? I should imagine marine mortgages are hens teeth right now - I struggled to get one last year and bowed out in the end - there were just too many hurdles to jump over, I would also figure that a lot of folk are selling their hobby boats right now to raise some rainy day money for the recession. I have seen a local boatbuilder struggling to sell his latest 53 footer, and he has reduced the price by £4k, to £49k. She's a nice boat, but still vastly overpriced. Certainly in Oxford, where I am, boats have gone up massively in price due to the housing bubble, so has anyone got any more anecdotes that would either confirm or refute my thoughts, and general wishful thinking that narrowboat asking prices will plummet through the floor.... I went out with a chap who lived on a narrowboat once, and I love the life, but now doesn't seem to be a good time to buy a boat, or much else for that matter...

A good site for all canal related things :)http://www.canalworld.net/forums/

Share this post


Link to post
Share on other sites
Ouch. :unsure: Stuck in a tunnel either way - Ho hum back to overpriced Diesel then. Till someone figures out how to use canal water and sunken shopping trolleys as fuel.

Or you could do what the original narrow boatmen did - lie on your back and push against the ceiling with your legs. Probably illegal now but would at least get you out of trouble if you broke down...or just wait for someone to give you a push!

Share this post


Link to post
Share on other sites

Reckon you must be able to rig up some bicycle wheels etc, so you can just sit at the tiller and pedal your way through... ?

Share this post


Link to post
Share on other sites
Or you could do what the original narrow boatmen did - lie on your back and push against the ceiling with your legs. Probably illegal now but would at least get you out of trouble if you broke down...or just wait for someone to give you a push!

At the risk of wandering too far off topic, I remember hearing once about a proposed legging (that's a technical term - obviously.) competition through the Blisworth tunnel. Which I can attest is a bit of a monster with a funny kink halfway so you can't see the end when you go in, tho' not the longest. Think that's the one with kink. Dunno what happens if you meet someone legging coming the other way. Much grunting and squeezing or a cuppa tea and a coin toss to see who reverses !

Edit to change bend to kink. and to add P.S

Just been reliably informed that Blisworth tunnel is straight so must be thinking of another tunnel. Too much coffee today.

Edited by fubar

Share this post


Link to post
Share on other sites

Getting back on topic, I am looking for a decent used boat for live-aboard. I don't know about anyone else experiences but there aren't many reasonably priced ones out there but still a lot of expensive retiree luxury boats and dodgy overpriced floating hippie scrapyards for sale. I thought recently (and perhaps foolishly?) to try the cheeky offer approach. I've had a few responses that could best be described as bullish. ``MY boat's worth much more than that it has X,Y and Z features all paid for by me.'' One heap of junk I made an offer on had the owner quite indignant. I was aiming for 40 - 50% off of the frankly ridiculous asking price. Unfortunatley I don't think there is anyway to check what used boats have previously changed hands for like house prices with land registry.

Share this post


Link to post
Share on other sites

Buying a boat is one thing - just make sure that you get it professionally surveyed before parting with any cash - but finding somewhere to keep it is another matter entirely. Permanent moorings suitable for a liveaboard are like hens teeth and can cost many times the value of the boat; marina berths can easily cost over £5000 a year, and that's just for a small boat. Waiting lists for pile moorings in popular spots like the River Hamble can be 10 years or more. However, if you've sold a house and are planning on going long-distance cruising, now is the perfect time!

Share this post


Link to post
Share on other sites
Buying a boat is one thing - just make sure that you get it professionally surveyed before parting with any cash - but finding somewhere to keep it is another matter entirely. Permanent moorings suitable for a liveaboard are like hens teeth and can cost many times the value of the boat; marina berths can easily cost over £5000 a year, and that's just for a small boat. Waiting lists for pile moorings in popular spots like the River Hamble can be 10 years or more. However, if you've sold a house and are planning on going long-distance cruising, now is the perfect time!

*cough*``permanent'' cruising *cough* :rolleyes: I mean continuous...

Edited by fubar

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 399 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%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.