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Gorseinonboy

Thinking Of Buying A House In Lincoln Area

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I'm thinking of buying a property somewhere in the Lincoln area possibly in one of the villages north of the city. I am a cash buyer.

When I've looked at the Estate agents and what is on offer I see a spate of properties some of which seem to have been on the market for some time. There are some very good houses around, but there is little sign of realistic pricing in a market which is beginning to slide. i.e. I would be expecting good reductions on properties given the dire news in the market. But house prices have not shifted in this way.

Apart from the aspect of pricing and trying to predict what will happen in the market [ eg Will the market go down dramaticlly over the next year? possibly by another 15% ? ], I really have some difficulty over the timing of any purchase.

What are other buyers thinking as they muse over purchasing sooner or later in the Lincoln area?

Edited by Gorseinonboy

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I have been watching the market every day for tha last 2 /1/2 years and I still haven't been able to bring myself to buying yet. Mainly because i haven't found 'the' house but a massive factor is the price. I have noticed that some properties are starting to come on to the market at a more reasoonable price but there are still loads hanging about that have been on for over a year with an inflated price. There are also a few nice drops too which I have picked up on, you can use propertybee if you have firefox. I'm looking south of the city but the properties north seem to be more reasonably priced, i guess as there is less out that way. Interestingly enough I got a brochure through the post today from an agent that we registered with over 18 months ago, funny thing is during the boom they weren't interested in us......

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Thanks for your comments & views :

tinecu

wheresitgone

jsync

I think I'm going to continue to look to see what happens to prices over the next few months. Each day the news seems to get worse about the economy, unemployment and further cuts in house prices.

By the end of the year I'm hoping the picture will be clearer.

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Gorseinonboy,

I grew up in a village south of the city but live abroad now. I have toyed with moving back. I am curious, did you find anything?

I have followed the area very closely and I think there are more disillusioned sellers in Lincoln than a lot of places. The majesty of the cathedral (and it is breathtaking) may play a part in this.

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Gorseinonboy,

I grew up in a village south of the city but live abroad now. I have toyed with moving back. I am curious, did you find anything?

I have followed the area very closely and I think there are more disillusioned sellers in Lincoln than a lot of places. The majesty of the cathedral (and it is breathtaking) may play a part in this.

Hi there MC.

We have looked at houses in Wales and Lincoln this Autumn. Our visit to Lincoln was a month ago.

We found:

Estate Agents were quite honest about the market in Lincoln with indications there were further falls to come.

Vendors were reluctant to put their houses on the market at realistic prices perhaps in the hope that some unsuspecting "mug" might come along.

Some houses had been around for up to a year.

There are signs that houses new on the market are more realistically priced.

Some houses are selling.

By the end of our visit ~ over a week in the Lincoln area ~ we are convinced it is the location where we will buy mainly because the city is great with the University, Cathedral and new developments etc. We liked in particular ~ Sudbrooke and areas around Skellingthorpe Road. Some really nice houses around these places.

Our house in France is up for sale but we can't see us buying until well into 2009 ~ and thn dependent on greater house reductions.

I would be interested in your views on Lincoln if you continue to consider the city for your future relocation.

Regards

Vrnon

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Hi there MC.

We have looked at houses in Wales and Lincoln this Autumn. Our visit to Lincoln was a month ago.

We found:

Estate Agents were quite honest about the market in Lincoln with indications there were further falls to come.

Vendors were reluctant to put their houses on the market at realistic prices perhaps in the hope that some unsuspecting "mug" might come along.

Some houses had been around for up to a year.

There are signs that houses new on the market are more realistically priced.

Some houses are selling.

By the end of our visit ~ over a week in the Lincoln area ~ we are convinced it is the location where we will buy mainly because the city is great with the University, Cathedral and new developments etc. We liked in particular ~ Sudbrooke and areas around Skellingthorpe Road. Some really nice houses around these places.

Our house in France is up for sale but we can't see us buying until well into 2009 ~ and thn dependent on greater house reductions.

I would be interested in your views on Lincoln if you continue to consider the city for your future relocation.

Regards

Vrnon

Hi Gorsinonboy,

I definitely have noticed the few new properties on Rightmove come with a more realistic price tag. I expect Lincoln to see significant drops in 2009 as reality sets in. Glad to hear that the EA's you spoke to were realistic.

Skellingthorpe road and the village of Skellingthorpe have some nice properties. Try not to get to close to the Birchwood estate though, it has some good families there, but is very large and has a few rough spots. My gran lived there for years and some of the areas are not the best.

I am not too familiar with Sudbrooke but most of the villages around Lincoln are nice. You might want to check out Saxilby, and Doddington. These are nice spots and close to the areas you are looking at. I most familiar with the Southern part of the city and villages to the south.

At the moment I would need to see the pound drop to parity with the dollar to rethink my decision to stay put or suffer a job loss here in the States. Right now though it doesn't quite make sense. It might happen but is unlikely. If you want to ask me questions though let me know and I will be happy to provide whatever information I can. Especially which are the nice pubs with a good pint. :lol:

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Hi Gorsinonboy,

I definitely have noticed the few new properties on Rightmove come with a more realistic price tag. I expect Lincoln to see significant drops in 2009 as reality sets in. Glad to hear that the EA's you spoke to were realistic.

Skellingthorpe road and the village of Skellingthorpe have some nice properties. Try not to get to close to the Birchwood estate though, it has some good families there, but is very large and has a few rough spots. My gran lived there for years and some of the areas are not the best.

I am not too familiar with Sudbrooke but most of the villages around Lincoln are nice. You might want to check out Saxilby, and Doddington. These are nice spots and close to the areas you are looking at. I most familiar with the Southern part of the city and villages to the south.

At the moment I would need to see the pound drop to parity with the dollar to rethink my decision to stay put or suffer a job loss here in the States. Right now though it doesn't quite make sense. It might happen but is unlikely. If you want to ask me questions though let me know and I will be happy to provide whatever information I can. Especially which are the nice pubs with a good pint. :lol:

Thanks MC. I will keep in touch and let you know our progress.

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I think that Lincoln is quite a good area to live. People say the areas of Birchwood and St Giles are a bit rough, but really they are nothing compared with the likes of St Pauls in Bristol or Toxteth in Liverpool or even the estates on the outskirts of Leicester or Oxford.

I bought in Lincoln a few years ago after a lifetime living around the East Midlands. What's different is that five times we made serious bids on houses, going right up to the surveyor and later, for ALL the prospective purchases to fall through. There appear to be loads more unrealistic and plain daft people around here, particularly in the villages. Perhaps we were unlucky, but before you buy I would really see how credible the sale is - might be worth buying a distress sale rather than the conventional route.

However it is one of the better places to live in the UK, apart from the fog in Winter. People are generally quite friendly, although not as in your face friendly as Liverpool or parts of the North East. A good balance though. Good luck with it.

Andrew

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We are returning to the Lincoln area at the end of April and going to see houses in Fenton, Dunholme, The wolds and Potterhamworth.

Should be an interesting trip with the intention of seeing what the market is like and just beginning to see what houses are like "from the inside". There are signs of sales in the Lincoln area.

Will we be in a house by Xmas? Still I'm wary about the market. I think the bottom won't come until end of this year or into 2010!! So I'm being very cautious about actually putting in any offers........ It would have to be a really good house and offering a great discount!

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We are returning to the Lincoln area at the end of April and going to see houses in Fenton, Dunholme, The wolds and Potterhamworth.

Should be an interesting trip with the intention of seeing what the market is like and just beginning to see what houses are like "from the inside". There are signs of sales in the Lincoln area.

Will we be in a house by Xmas? Still I'm wary about the market. I think the bottom won't come until end of this year or into 2010!! So I'm being very cautious about actually putting in any offers........ It would have to be a really good house and offering a great discount!

Hi

I live in Waddington, just south of Lincoln (Due to leave the Navy this November) Weve been looking around too, still very high prices here though! We have a sizable nest egg saved and when i get my lump sum from the Navy, should have enough to buy mortgage free. There are some very nice houses in Fenton, But still extremely high priced, have put in some cash offers, but i imagine they never got out of the EA's door!

There are a lot of old retired people in Lincoln too, which when they have their homes for sale, wont price reduce or if they do its normally by 1-2%!

Ive noticed a lot of Sold/SSTC on rightmove for this area! most noticably by Pygot and Crone! Or i have seen a load with sold signs on which are new to the market and havent even got a photo of the property yet!

I think the problem with Lincolnshire is that a fair amount of the property is buoyed by the fact there are so many RAF personnel living here, they have steady jobs, excellent wages and can stay in one place for ages! This coupled with the older community means prices seem quite high!

That said we moved down from Scotland to settle down here as its a beautiful place and Lincoln is a very nice city! Im sure it has its fair share of numptys too mind! But overall its a grand place to live!

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I've been keeping a really close eye on the market around Lincoln and the villages and I've got to say, it's still pretty high... I've got a load of property bee data starting from last year and there really isn't a lot moving or falling, I've even seen some price increases (presumably with the hope that the offer will reflect their real asking price). Everyone around here seems to be in a bit of denial... hope it doesn't last. Good news is that the Bailgate (from the Cathedral/Castle up to Newport Arch) is being "restored" in the early months of next year... it's being redone in York stone so will look amazing, Lincoln seems to be cathcing up with the rest of the country!!

PW x

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There are some very nice houses in Fenton, But still extremely high priced, have put in some cash offers, but i imagine they never got out of the EA's door!

Are the houses you mention in Fenton along Maltkiln Road? I would be interested in what you know of these properties? Currently priced at £309K reduced by £80K.............

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why don't you rent?I don't get it.jsut wait.the economy's tanking.

Hi Reaper.......

We've just sold in France which is quite an achievement given the stagnation in the housing market for a year. Our trip in April is to see what's around and to get to know different areas a little better. Do you know Lincoln and have any suggestions?

We're seeing over a dozen houses and we want to judge for ourselves whether they are good value. Houses are definitely moving in Lincoln so somebody thinks the value is there.

As regards our timing. We don't leave France until mid-July and we have a place to live in temporarily. I don't think we'll be tempted to buy until the time is right.

A number of circumstances will determine that including the state of the economy in the UK, unemployment levels, further drops in prices of houses etc etc.........

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Are the houses you mention in Fenton along Maltkiln Road? I would be interested in what you know of these properties? Currently priced at £309K reduced by £80K.............

Yes they are!

I have viewed the 4 bed and the five bed (they are the ones at the same price £309,950) They are made by a local company, Ken Wood and sons. The houses are lovely, excellent quality and build finish. We favoured the 4 bed, the chap who showed us around was one of the sons, at the time they were on for £330k reduced from £390k (Oct 08) He was very certain that they would be sold at that price and didnt need to really negociate! Although the houses were lovely, there had been a leak in the 4 bed and they had to rip up the flooring and kitchens etc! He said everything will be rectified, but just made me uneasy about future leaks or hidden workmanship! But that said it was still a lovely house. He also said it was very quiet except for the school run hours. However we drove back and stood in the garden and it was rather noisy, as its the main throughfare to Lincoln from Gainsborough! The actual back garden isnt massive but is adequate. On closer inspection at exterior door handles etc they were starting to look very shabby and were obviously cheapo in the first place!

We said we would pay £300k for it, which the EA said he would accept. Then after a second viewing and the distance to Lincoln etc i revised and submitted a verbal offer to the EA at £275k Cash, she said he was considering another offer, but as it was the other party was struggling to sell their own property (funny old thing!) Then she came back and said That they would definately accept our offer, but were going to discuss it with the family and we never heard anything back from them. I have since put in another offer to them for £225k as he has a few properties fully completed on their site. It think the house is probably worth £250k in reality. Their original price of 390k is a joke, sure its a lovely house but in a depreciating house market i just wasnt going to line his pockets with my hard earned cash! ( Ive been sat in a submarine with no life for 22 years and i dont intend just giving it away!)

The EA now says he has acepted an offer and it is sold......That was about 3 weeks ago! But nothing on Rightmove, which suprises me as normally they're quick as a flash! If theres owt else you want to know then please ask.

JD

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Yes they are!

I have viewed the 4 bed and the five bed (they are the ones at the same price £309,950) They are made by a local company, Ken Wood and sons. The houses are lovely, excellent quality and build finish. We favoured the 4 bed, the chap who showed us around was one of the sons, at the time they were on for £330k reduced from £390k (Oct 08) He was very certain that they would be sold at that price and didnt need to really negociate! Although the houses were lovely, there had been a leak in the 4 bed and they had to rip up the flooring and kitchens etc! He said everything will be rectified, but just made me uneasy about future leaks or hidden workmanship! But that said it was still a lovely house. He also said it was very quiet except for the school run hours. However we drove back and stood in the garden and it was rather noisy, as its the main throughfare to Lincoln from Gainsborough! The actual back garden isnt massive but is adequate. On closer inspection at exterior door handles etc they were starting to look very shabby and were obviously cheapo in the first place!

We said we would pay £300k for it, which the EA said he would accept. Then after a second viewing and the distance to Lincoln etc i revised and submitted a verbal offer to the EA at £275k Cash, she said he was considering another offer, but as it was the other party was struggling to sell their own property (funny old thing!) Then she came back and said That they would definately accept our offer, but were going to discuss it with the family and we never heard anything back from them. I have since put in another offer to them for £225k as he has a few properties fully completed on their site. It think the house is probably worth £250k in reality. Their original price of 390k is a joke, sure its a lovely house but in a depreciating house market i just wasnt going to line his pockets with my hard earned cash! ( Ive been sat in a submarine with no life for 22 years and i dont intend just giving it away!)

The EA now says he has acepted an offer and it is sold......That was about 3 weeks ago! But nothing on Rightmove, which suprises me as normally they're quick as a flash! If theres owt else you want to know then please ask.

JD

It's a small world JD. Thank you for your fulsome reply. We're due back in the UK tomorrow and will be viewing about 16 properties over 4 days. We're seeing the L shaped property ~ I think the 5 bed one ~ on Thursday. We've been told the other has been sold but the EA was also indicating we might be able to view it. A little confusing. Certainly on paper they look good houses but you never know until you consider all factors. Thanks for indicating your reservations and letting me know about the offers you made. I understand from the EA the developer is now a little desperate!!!!! to sell!!!!

I'll keep you updated about our experiences ~ comparing notes may be very helpful!!!!!

Vernon Goddard.....

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Hi Gorseinonboy,

I just checked back here after a move myself (Cali to the NW USA) and was curious to see how you have gotten on with your move. Any luck on finding a property in or around Lincoln? I was hoping to get back to visit this year but it looks like 2010 will be the next time I am supping a pint of Batemans.

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Jesus look at this chart! People can't hold out forever and these transaction levels have got to rise sooner or later!

I wish it would hurry I want to buy in Lincoln.

(open link and scroll to the bottom chart)

http://www.home.co.uk/guides/house_prices_report.htm?location=lincoln&startmonth=08&startyear=2000&endmonth=08&endyear=2009

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Lincoln update, for those interested but maybe not on the ground.

My sister works for one of the agents in Lincoln and tells me that business is continuing, albeit at very reduced levels compared to most of the last decade. Most vendors are not realistic on price and all the talk of prices rising has made them less so but that is not the crucial element in the mad asking prices that I am seeing at present in the three large villages that I keep a close eye on. The crucial element, my sister tells me, is that due to the shortage of supply of houses (thanks to all the various schemes to protect vulnerable mortgage holders) some of the less ethical agents are increasing their valuations to try and win business. There is nothing new in that, it always goes on when the market is behaving normally - Lincoln's biggest agent is known to overvalue to get properties on their books and then pressure vendors to accept any offer they get - but in a half strangled market it means that affordability continues to decline when the pool of people who could buy locally is already shrunken.

Prices, in the area I watch, fell on those properties that needed to sell during 2008 but the bulk of the vendors stuck it out. In 2009 transactions did increase at about the same time prices began to increase nationally. There has been little sign of this stopping. Whatever the picture nationally, in Lincoln any new dip has barely started as yet (mores the pity). When I look on Rightmove there are still plenty of houses that were there in 2008 and early 2009, and they have been joined by others, some of which seem even more unrealistically priced.

The recession (I'm not going to pretend it has really ended, grown ups amongst us know that whatever the technical situation we are almost certainly in a depression) has not bitten as hard here as in many parts of the country - a large RAF, health and local government element to the workforce have seen to that. If significant cuts are made in these areas, and the crutch of non-repossession that the market is leaning on at present is kicked away, I suspect the collapse could be quite swift as I know for a fact that local businesses are struggling for the most part and that means people aren't spending. In Britain that can only be because they don't have the money and can't borrow it any more as I simply don't believe that the great bulk of the population take macroeconomic factors into account when deciding on what to splurge on next.

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We have a friend who has about 4 houses now in the Lincoln area. Rents to students.

We have looked there ouselves but still see better investments south into Suffolk. Prices similar but returns better. (and suffolk is much prettier)

One thing we did learn is that if you buy in central Lincoln be carefull of the flood risk areas. I have been told if you buy in a flood risk area your insurance will be sky high, so something to keep in mind.

B)

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  • 396 Brexit, House prices and Summer 2020

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