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My perception using the homeseeker thursday scan method is that prices have not really fallen since last summer - maybe 2% - but nothing is moving. I believe it will not be long untill people have to start being reallistic with thier asking prices, espescially because of the poor wages in the area (84% of national average, 3 bed detached estate house with garrage is currently about 210K). Any others care to comment.

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Still no real change and nothing really moving. Starting to see the odd decent 10k discounts, these are the only ones that are selling. Hopefully should start to see some decent action in the comming months when national YOY figures start going red.

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Still no real change and nothing really moving. Starting to see the odd decent 10k discounts, these are the only ones that are selling. Hopefully should start to see some decent action in the comming months when national YOY figures start going red.

A 3 bed for 210K? In Plymouth? The world really has gone mad. Haven't been there for years, but unless it has had a giant scrub up I still wouldn't want to live in vast tracts of it - too many post-war samey houses in uniform grey pebbledash.

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A 3-bed for £210k ..... in Plymouth? Now that IS madness! I lived there from 1994 - 1997 and the house I lived in (3 bed 2 receptions) was valued at approx. £30k.

I mean, it's an OK city but salaries can't have grown that much! Makes me wish I'd got myself a mortgage and bought there but I was only 18 and mortgages seemed such a scarey old-person thing to do!

Where-abouts do you live in Plymouth?

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does any body from plymouth visit this site?

Yeah, I do. As per your other posts, no big price falls down here yet. Although it seems that alot of properties are sticking on the market and I'm seeing a good deal of 'new price' ads in the homeseeker.

Ive looked at buying several times over the previous 2 years down this way, each time not quite going through with it as I had a gut feeling it was all wrong. A couple of places I looked at 4+ months ago Ive had my eye on since and there not shifting, although the vendors are starting to shave the price on some (although not by nearly enough, just 2 or 3K).

A friend of a friend works for any estate agent on Mutley and Ive been wanting to sound him out about the state of the market, although not had the chance yet (weather he tell me the truth is another thing ;) ) He said some time ago that it was pretty on/off, one week no customers and the next busy, etc.

Anyway, sit tight and it will happen eventually, just gonna take a few years or more.

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I live in Plymouth (or rather I have done- I now live out near Tavistock), and agree that prices are totally unrealistic in relation to earnings. Plymouth prices will have to correct themselves, as very few local people are presently able to afford homes- particularly given the fact that local incomes are low in comparison to the national average. Given the fact that Plymouth is not seen as being a 'desirable' place to live, we are not going to see an influx of second home owners pricing FTBs out of the market (as has happened in places like Polzeath, Dartmouth etc). I personally have no intention of buying a place in Plymouth- the majority of places within my budget are located in areas that make Baghdad seem hospitable!

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I live in Plymouth (or rather I have done- I now live out near Tavistock), and agree that prices are totally unrealistic in relation to earnings. Plymouth prices will have to correct themselves, as very few local people are presently able to afford homes- particularly given the fact that local incomes are low in comparison to the national average. Given the fact that Plymouth is not seen as being a 'desirable' place to live, we are not going to see an influx of second home owners pricing FTBs out of the market (as has happened in places like Polzeath, Dartmouth etc). I personally have no intention of buying a place in Plymouth- the majority of places within my budget are located in areas that make Baghdad seem hospitable!

Ahoy there shipmate - is that the war canoe of the pussers variety by any chance? - Plymouth has gone mad and have a long way to fall. Incomes are 84% national average and HPs about 110% national average. On that basis alone we should be looking at a hefty correction even if HPC does not deliver (which it will). Any way, I think I am going to sit out the next few years at tax payers expense in FQs, sh1tholes I know but for £200 a month what do you expect. Live the dream.

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Yeah, I do. As per your other posts, no big price falls down here yet. Although it seems that alot of properties are sticking on the market and I'm seeing a good deal of 'new price' ads in the homeseeker.

Ive looked at buying several times over the previous 2 years down this way, each time not quite going through with it as I had a gut feeling it was all wrong. A couple of places I looked at 4+ months ago Ive had my eye on since and there not shifting, although the vendors are starting to shave the price on some (although not by nearly enough, just 2 or 3K).

A friend of a friend works for any estate agent on Mutley and Ive been wanting to sound him out about the state of the market, although not had the chance yet (weather he tell me the truth is another thing  ;) ) He said some time ago that it was pretty on/off, one week no customers and the next busy, etc.

Anyway, sit tight and it will happen eventually, just gonna take a few years or more.

Look forward to hearing any EA news in the area :ph34r:

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Aye Ian, am a fellow fishead- soon to be living the dream on a Pompey Gash Barge. My plan is much the same as yours- set up camp in the mess, save beer tokens, await the crash and clean up when prices get a little (or lot) more sensible. Hopefully save 1k a month whilst at sea, then take full LSAP and a smaller mortgage.

A question for you though- how do matelots get looked upon in terms of mortgages? Do we get given bigger multiples for being in the mob? We must be seen as a good risk, given the security of employment we have, and the fact that most of us know what pay band we are going to be on for the forseeable future.

Personally don't want to live in Plymouth, but agree that prices are absolutely mad, especially given local incomes.

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  • 1 month later...

There are definate signs that things are starting to fall here, though it is all still very expensive when you consider wages here. A lot of the properties I have been monitoring (4 bed detached upto 300k) have taken 10-20k hits on asking price and still nothing is shifting. Looks well set for a grim winter.

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plymouth has been static in regards to prices, perhaps marginal falls in the last couple of months. However I have noticed that better quality properties are shifting if they are competitively price. there is still a lot of perrenial dross about tha needs a good 10% cut to stand a chance of shifting. Will be interesting to see where things go from here I reckon we are 8% of peak at the moment and reckon on gradual but sustained falls of a total of 5% houses-10% flats by the end of 06. That will do for me.

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Any body else live in/watching plymouth???

Just thought i would give this one an airing. My radar detects house prices are static at the moment - a few less on the market than last year though and we are starting to see quite a few kite flyers come on the market for the so called spring bounce, but they are not selling. We are certainly not seeing any the big rises being muted elsewhere, but frustraitingly no falls either . Where does it go from here - down (i hope) from june I reckon but its going to be slow :-( I will probably be buying back into the market in a year (got to - wife pressure) so fingers crossed that something gets it moving soon.

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Any body else live in/watching plymouth???

Just thought i would give this one an airing. My radar detects house prices are static at the moment - a few less on the market than last year though and we are starting to see quite a few kite flyers come on the market for the so called spring bounce, but they are not selling. We are certainly not seeing any the big rises being muted elsewhere, but frustraitingly no falls either . Where does it go from here - down (i hope) from june I reckon but its going to be slow :-( I will probably be buying back into the market in a year (got to - wife pressure) so fingers crossed that something gets it moving soon.

I live in Stoke,Plymouth.It`s pretty clear that prices are at best static.In terms of percentage increase,Plymouth came about the 5th highest in the U.k.How that has happened with the kind of wages hereI have no idea.

Three houses by me have sold signs up,however ,strange to say,one of them has not even had an offer on it!!!!!!!!

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A bit alarming but in the past month or so there has been a definate upswing in prices on new listings on my patch (saltash), stuff that would have been 235 in december now pushing 250 and beyond. Madness I know but does any other plymothian see the same or is this a local blip

a few examples are shown below

http://www.rightmove.co.uk/viewdetails-117...pa_n=1&tr_t=buy

http://www.rightmove.co.uk/viewdetails-121...pa_n=2&tr_t=buy

http://www.rightmove.co.uk/viewdetails-120...pa_n=2&tr_t=buy

http://www.rightmove.co.uk/viewdetails-747...pa_n=2&tr_t=buy

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  • 3 months later...

News that the naval base may be up for closure

http://news.bbc.co.uk/1/hi/england/devon/5361456.stm

Any body got any opinions on whether this will happen and what impact it might have on HP's.

For those of you who dont realise how HPs have taken of here then check the random ones out fresh on the market today. Note that the ave wage here is 84% national average.

bank managers house

http://www.rightmove.co.uk/viewdetails-131...=1&tr_t=buy

plumbers house

http://www.rightmove.co.uk/viewdetails-131...=2&tr_t=buy

labourers house

http://www.rightmove.co.uk/viewdetails-133...=4&tr_t=buy

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Hi from Pymouth.I read in a magazine that for some reason{not explained}that Plymouth was about to become a ``hot spot``.Looked on wrongmove today and was gob smacked.In Stoke there are a lot of 2 bed houses the same as I have.For a good while they have been £120k ish.Today one very close to me is on at a tad below £135k.Other properties in the area have also risen since I last looked.

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Hi from Pymouth.I read in a magazine that for some reason{not explained}that Plymouth was about to become a ``hot spot``.Looked on wrongmove today and was gob smacked.In Stoke there are a lot of 2 bed houses the same as I have.For a good while they have been £120k ish.Today one very close to me is on at a tad below £135k.Other properties in the area have also risen since I last looked.

I agree it has gone mad in the last few months, totally against my expectations - and they seem to be selling too- who in plymouth can really afford to have a 100K+ mortgage for a 2 bed when the average wage is probably around the 16k mark - I think quite a lot of the smaller stuff is going BTL to house the Polish invasion - probably fit about 8 of em in a 2 bed - madness and i dont want any of it - i will sit it out in my forces married quarter for £200 a month until it returns to reality and count my STR stash.

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I agree it has gone mad in the last few months, totally against my expectations - and they seem to be selling too- who in plymouth can really afford to have a 100K+ mortgage for a 2 bed when the average wage is probably around the 16k mark - I think quite a lot of the smaller stuff is going BTL to house the Polish invasion - probably fit about 8 of em in a 2 bed - madness and i dont want any of it - i will sit it out in my forces married quarter for £200 a month until it returns to reality and count my STR stash.

Well according to Wrongmove I guess properties are about 8 to 10 per cent up on about 6 months ago.No idea who is buying them tho!

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House prices in plymouth seem to be up 9% over the last year according to Home.co.uk (LR graphs). Crazy!

The only thing I can think of is wether or not properties are ramping up because of the high cost of property in the rest of Devon.I would say that next to Exeter,Plymouth is going to be the easiest place to find work.I work for a company some 250 miles from Plymouth to get a decent income.I am able to work a lot from home.

My wife,who like me is from the south east,works for a local company and frankly the pay is a joke.I am fortunate to own my property here but I really do not know how people can get a foot on the market who ``enjoy`` local wages.

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A bit alarming but in the past month or so there has been a definate upswing in prices on new listings on my patch (saltash), stuff that would have been 235 in december now pushing 250 and beyond. Madness I know but does any other plymothian see the same or is this a local blip

a few examples are shown below

http://www.rightmove.co.uk/viewdetails-117...=1&tr_t=buy

http://www.rightmove.co.uk/viewdetails-121...=2&tr_t=buy

http://www.rightmove.co.uk/viewdetails-120...=2&tr_t=buy

http://www.rightmove.co.uk/viewdetails-747...=2&tr_t=buy

I am on the north cornish coast, property doesn't appear to be shifting that fast. A friend of mine in the building industry has had no work since before christmas, the company he works for have stoppped building because they cant sell any of the houses. Anyone noticed the same scenario elsewhere?

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