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**Lexxy**

Cornwall, North Coast

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so glad to have found this great forum! ;)

before i start, i KNOW the whole BTL/holiday-let can be a bit of a sensitive area for questions, but we really aren't in it for the money - this is our 10 year plan to get ourselves re-located to wonderful Kernow & we do hope to have a business down there too which will provide employment...

after lots of research, it seems that the Cornwall housing market can be a little on the slow side, so i'm unsure if the current prices/times on market are just part of the 'norm' for the area. new builds appear to be flying off the shelves at a rapid rate of knots (if you believe the sales people!), but that isn't what we're after anyway.

as an example, this is the type of Flat that we're looking at. good quality & GREAT location, hopefully able to get a 5 star rating for self-catering lets.

we're not 100% stuck on location yet, but i'm just trying to get an idea from those 'in the know' if location, location, location will beat the current Crash (to an extent), or would we still be best to hold on for 6-12 months?

all replies appreciated, so get polishing those crystal balls! :lol:

MTIA

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so glad to have found this great forum! ;)

before i start, i KNOW the whole BTL/holiday-let can be a bit of a sensitive area for questions, but we really aren't in it for the money - this is our 10 year plan to get ourselves re-located to wonderful Kernow & we do hope to have a business down there too which will provide employment...

after lots of research, it seems that the Cornwall housing market can be a little on the slow side, so i'm unsure if the current prices/times on market are just part of the 'norm' for the area. new builds appear to be flying off the shelves at a rapid rate of knots (if you believe the sales people!), but that isn't what we're after anyway.

as an example, this is the type of Flat that we're looking at. good quality & GREAT location, hopefully able to get a 5 star rating for self-catering lets.

we're not 100% stuck on location yet, but i'm just trying to get an idea from those 'in the know' if location, location, location will beat the current Crash (to an extent), or would we still be best to hold on for 6-12 months?

all replies appreciated, so get polishing those crystal balls! :lol:

MTIA

Don't believe it.

A load of new builds (barn conversions) just down the road from where I'm sitting have just been reduced - prices from £157k now. Were originally £175K a couple of months ago.

We're not immune down here to house price reductions, and it's already starting to hit hard. Don't believe a word what the EA tells you.

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so glad to have found this great forum! ;)

before i start, i KNOW the whole BTL/holiday-let can be a bit of a sensitive area for questions, but we really aren't in it for the money - this is our 10 year plan to get ourselves re-located to wonderful Kernow & we do hope to have a business down there too which will provide employment...

after lots of research, it seems that the Cornwall housing market can be a little on the slow side, so i'm unsure if the current prices/times on market are just part of the 'norm' for the area. new builds appear to be flying off the shelves at a rapid rate of knots (if you believe the sales people!), but that isn't what we're after anyway.

as an example, this is the type of Flat that we're looking at. good quality & GREAT location, hopefully able to get a 5 star rating for self-catering lets.

we're not 100% stuck on location yet, but i'm just trying to get an idea from those 'in the know' if location, location, location will beat the current Crash (to an extent), or would we still be best to hold on for 6-12 months?

all replies appreciated, so get polishing those crystal balls! :lol:

MTIA

Mate don't believ the sales guys - I'm in St Austell - south coast I know - but as a regular Newquay watcher I can tell you that while prices haven't made huge drops (yet) - very little is moving - indeed for let signs are replacing for sale signs - a trend through many UK areas - it surely is a matter of time till the want to sells become have to sells and the prices react accordingly . Big auction in Penventon Hotel Redruth 23 July featuring both north an south coast - may give us a better idea of the way things are heading

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interesting, thanks for your comments.

TTBBB ( i can't type ALL of your name :P !) will you actually be going to this auction? or can you see sales info etc online afterwards? (sorry, i know even less about auctions than i do prices! :blink: )

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interesting, thanks for your comments.

TTBBB ( i can't type ALL of your name :P !) will you actually be going to this auction? or can you see sales info etc online afterwards? (sorry, i know even less about auctions than i do prices! :blink: )

I'm hoping to have a look see mate - first house auction for me too :rolleyes: but very very unlikely I'll buy - I reckon the HPC is yet to get into full swing here yet.

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Nowhere in Cornwall will escape the crash. It's England's Florida.

There has been massive over-development, at least six sites in Newquay designed for flats have either stopped post demolition or just comprise a derelict building.

Most of the development (and the speculation) has been second home purchases from outside the county as the average wage is about £20k.

It's even worse in other areas, residential development land in Redruth is collapsing. Builders and contractors are going out of business (most recently Tallings) and I know people in the trade who thought they were safe finding that it's a lottery whether they get paid each month.

The BTL driver (as holiday lets rather than year round) is also collapsing, a flat owner quoted on the front page of the paper last month said that their bookings were previously the whole of June, July and August and were now just down to 4 weeks meaning they were £5k down which means the rent doesn't cover the costs.

If you buy in Cornwall now you will have 20 years to regret it.

Having said all that it's a lovely place and I wouldn't live anywhere else. Just don't buy a house yet.

If you're serious about buying track the market with Property Bee, I tend to use http://www.propertysnake.co.uk/ as it's easier.

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wise words Frank - we were all ready for putting a deposit down a few weeks ago, until i did a bit of research! :o thank heavens for mind over heart on this occasion...

i am a frequent visit to 'Mr Snake' ;) very interesting times ahead me thinks

Edited by **Lexxy**

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Nowhere in Cornwall will escape the crash. It's England's Florida.

If you buy in Cornwall now you will have 20 years to regret it.

Having said all that it's a lovely place and I wouldn't live anywhere else. Just don't buy a house yet.

so very true - With Imrys (ECC) 'downsizing' again and RAF St Mawgan reducing headcount ,Mid Cornwall housing market is now even more reliant on holiday BTL and second homes , as these crash, the mainstream market goes too

Although 20 years maybe a bit too pessimistic even for a true HPC believer like me ;)

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Hi Lexxy,

Location - Location - Location ? well as a previous guest of http://www.carbisbayholidays.co.uk , you have already found one of Cornwall's secrets. The current crash in certain areas of the country is a correction in other parts, namely Carbis Bay. Wherever there is demand , the prices will be maintained, particularly for desirable properties with the stunning sea views you know.

Are bargains to be had ? There is no doubt that the market is flat and a few more properties are for sale where the owners reconsider their circumstances or developers are looking for imroved cashflow. In our experience in Carbis Bay and St Ives area, now is the time to invest.

You mentioned Carbis Beach Apartments, there are now two available, one is a penthouse, the new one just released (offers over £450k) is the same layout to Sapphire ( http://www.carbisbayholidays.co.uk/html/sapphire.html ), where you stayed. Gross rental is over 7% and "that" view will always appreciate in value.

Have a look at http://www.holiday-property-finder.co.uk for another sound investment with good yield and some tips on BTL holiday investment.

Holidays in the UK will increase as the euro exchange rate declines, Cornwall is the UK's favourite and, although there may be an oversupply of traditional properties, the key to BTL holiday let is to offer the 5 star accommodation that holidaymakers now demand. More important is to use a holiday letting agent who will work in partnership with you to maximise the return on your investment.

Kind regards

Alan

Carbis_Bay.jpg

post-15524-1217677592_thumb.jpg

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Hi Lexxy,

Location - Location - Location ? well as a previous guest of http://www.carbisbayholidays.co.uk , you have already found one of Cornwall's secrets. The current crash in certain areas of the country is a correction in other parts, namely Carbis Bay. Wherever there is demand , the prices will be maintained, particularly for desirable properties with the stunning sea views you know.

Are bargains to be had ? There is no doubt that the market is flat and a few more properties are for sale where the owners reconsider their circumstances or developers are looking for imroved cashflow. In our experience in Carbis Bay and St Ives area, now is the time to invest.

You mentioned Carbis Beach Apartments, there are now two available, one is a penthouse, the new one just released (offers over £450k) is the same layout to Sapphire ( http://www.carbisbayholidays.co.uk/html/sapphire.html ), where you stayed. Gross rental is over 7% and "that" view will always appreciate in value.

Have a look at http://www.holiday-property-finder.co.uk for another sound investment with good yield and some tips on BTL holiday investment.

Holidays in the UK will increase as the euro exchange rate declines, Cornwall is the UK's favourite and, although there may be an oversupply of traditional properties, the key to BTL holiday let is to offer the 5 star accommodation that holidaymakers now demand. More important is to use a holiday letting agent who will work in partnership with you to maximise the return on your investment.

Kind regards

Alan

I'll take 2 :lol::lol::lol:

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  • 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%



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