Jump to content
House Price Crash Forum
Sign in to follow this  
ianbeale

Plymouth

Recommended Posts

"that is when the fireworks will really start - i think we have only seen the start of this kerfuffle (credit crunch) and think the Boe will find it hard to cut IRs much in the face of above target inflation - if they dont start to tumble by april then they never will and i will buy"

And therein lies the problem. It will be about that time that most will start to lose their nerve. The housing market will pick up again and the cycle will continue pushing houses up to silly prices. Rise in inflation, no cut to I/R ,everybody has less cash in their pockets. stop spending. Inflation drops etc,etc,etc repeat to fade.

I too work indirectly for the Navy down here and think they will be here for a long old time.

Happy Days and go make a silly offer on that cacky bungalow in Dunstone road, see what the Pikeys say.

AM

pikey house now down to 289950....a long way to go me thinks

Share this post


Link to post
Share on other sites

I seriously wouldn't go anywhere near it unless it was up for about 225000 then I'd be looking at paying 215000 it's a frickin' dump. No parking, shaded garden with service road (Kid's cider alley) running behind it. That's just some of the things that put me off the outside !

You'll be looking good for April I reckon.....

Share this post


Link to post
Share on other sites
I seriously wouldn't go anywhere near it unless it was up for about 225000 then I'd be looking at paying 215000 it's a frickin' dump. No parking, shaded garden with service road (Kid's cider alley) running behind it. That's just some of the things that put me off the outside !

You'll be looking good for April I reckon.....

http://www.rightmove.co.uk/viewdetails-161...se&tr_t=buy

still heading south (285)- will be in 250 stamp duty trap soon (sub275)

Share this post


Link to post
Share on other sites
http://www.rightmove.co.uk/viewdetails-161...se&tr_t=buy

still heading south (285)- will be in 250 stamp duty trap soon (sub275)

Haven't heard any more news on house prices in Plymouth for a while. As a FTB Ive been looking through the homeseeker and seen a large rise in flats coming onto the market for under £100,000. It seems that Plymouth prices are now starting to fall slowly (some cases by 10%).

A building friend of mine has just been told by Wimpey homes that they will have to drop his contract down by 5% due to the "modest fall" in prices.

Other building contractors have seen their prices fall by 10%.

Is the price crash finally hitting Plymruff??

Share this post


Link to post
Share on other sites

Horrid Pikey house now £279,950 definately still needs another 30,000 to come off before it is sensible,my next door neighbours though has gone on for 400k. I'll see how he does with that and keep you posted.

Edited by Airmech

Share this post


Link to post
Share on other sites

Hi guys, thanks for providing some valuable input re Plymouth, i'm currently renting near Exeter but am also keeping an eye on the Cornish market as i may be contempating a move there. Have been keeping an eye with Property Bee :-)

Share this post


Link to post
Share on other sites
Horrid Pikey house now £279,950 definately still needs another 30,000 to come off before it is sensible,my next door neighbours though has gone on for 400k. I'll see how he does with that and keep you posted.

looks like it has gone of the market now as the pikeys have gone into BTL as they expect market to recover and get the 350k they were touting last year-or maybe they cannot meet the incresed payments on their ocean finance mortgage (muhahah) watch for this to go repo in the next 6 months and i will see you at the auction.

http://www.rightmove.co.uk/viewdetails-167...1&tr_t=rent

They will probably live in he pigeon loft at the back

I hate pikeys

Share this post


Link to post
Share on other sites
looks like it has gone of the market now as the pikeys have gone into BTL as they expect market to recover and get the 350k they were touting last year-or maybe they cannot meet the incresed payments on their ocean finance mortgage (muhahah) watch for this to go repo in the next 6 months and i will see you at the auction.

http://www.rightmove.co.uk/viewdetails-167...1&tr_t=rent

They will probably live in he pigeon loft at the back

I hate pikeys

Ian Beale - have you considered you yourself may be king pikey / king chav. If I was married to you i would have left by now.

Share this post


Link to post
Share on other sites
Ian Beale - have you considered you yourself may be king pikey / king chav. If I was married to you i would have left by now.

Yeah my wife often says this - she is probably right - I love her to death though (I think she feels the same??). But she really wants to buy a house nowe evn though prices are falling heavily now (the new staddy estate have been dropped 20-30k across the board since my last post). It would be fair to say that we are poles apart on our views on housing. I am going to buy her a lovely house one day soon, circa Q1-09 when the major part of this crash has kicked in. I cannot be bothered waiting any longer than this as we need to get on with our lives and ithink to much of her to drag it out any longer (we aint getting any younger) - I will not be hanging around to bag maybe another possible 10% over 3 years - But the 10% forecast over the rest of this year is worth hanging on for though as it works ot at 3.5k a month on the average gaff or about 5k a month on the pikey house (source IG HP futures), which we all know is now nailed on what with the trouble in getting a mortgage which will take at least 6 months to start to improve, thi will hit plymouthharder than most waht with all the second homers not buying and the natives being heavilly indebted on relatively low pay - we will hopefully bag a good deal at the time as a cash buyer (wouldnt mind actually going on L3 with kirsty and phil - mmm maybe not). That would put me about level on my STR position (Q1-05) and would be as though I had never STRd so for me I would be happy with that after having lived through the scarymad HPI days in Plymouth of 06/07. All this HPC is all very well but you have to realise there are more important things in life. As in all relationships though it is all about comprimise and negotiation.

keep the faith

IB

Share this post


Link to post
Share on other sites

Hello plymouth HPCers,

Interesting thread, I moved to plymouth three years ago and actually quite like it here! I've lived in London, Sydney and a few more regular places over the years and I must admit Plymouth has grown on me. There's a lot of ignorance down here but that can be seen as an opportunity.

Also, I did some demographics research before buying down here and found that the population is pretty much average in terms of occupation and pay. There are more skilled manual workers here (by about 2%) and more motorbike riders, but apart from that, the population is pretty much bang in the middle of mr joe average brit. I think the long term outlook for Plymouth is good if the city can grow by ?50,000 residents over the next few years - that would mean a large program of city expansion / construction which I think has been on the cards for a while - then things look bright. There is an image problem that needs to be tackled however..

Is there still a shortage of student accommodation at the moment?

Share this post


Link to post
Share on other sites
Hello plymouth HPCers,

Interesting thread, I moved to plymouth three years ago and actually quite like it here! I've lived in London, Sydney and a few more regular places over the years and I must admit Plymouth has grown on me. There's a lot of ignorance down here but that can be seen as an opportunity.

Also, I did some demographics research before buying down here and found that the population is pretty much average in terms of occupation and pay. There are more skilled manual workers here (by about 2%) and more motorbike riders, but apart from that, the population is pretty much bang in the middle of mr joe average brit. I think the long term outlook for Plymouth is good if the city can grow by ?50,000 residents over the next few years - that would mean a large program of city expansion / construction which I think has been on the cards for a while - then things look bright. There is an image problem that needs to be tackled however..

Is there still a shortage of student accommodation at the moment?

Welcome to the site, it really needs news from Plymouth posted more often, hope you can oblige, I give updates on S. Bristol mainly.

I used to live in Plymouth and liked it, particularly watching argyle, being near the moors and the coast. A walk on the beach at dusk at Start point-slapton is a sane experience for sure.

Edited by bricor mortis

Share this post


Link to post
Share on other sites

Hello Gang!

I'm 30 years old and have looked bitterly through the windows in estate agents for many years, having been locked out of the housing market. I don't earn a great deal, so I had resigned myself to never getting my own place.

I'm now looking to buy my first house or flat. It feels as though circumstances have conspired in my favour over the last few months.

1) I am now with a lovely guy who has some capital (inheritance from an aunt) and would love to live with me :D

2) My folks have given me some money so I can also have a deposit

3) House prices have fallen to a more realistic level

4) Both of us do not earn much, but have secure jobs, so we are not worried about redundancy

Right now, there's no hurry. House prices look likely to carry on dropping and other FTB don't generally have the same good fortune as us with regards to a deposit. A lot of folk can't get mortgages at all. So there are a lot less houses on the market than usual apparently, which means less choice, but we can afford to take our time. And why hurry to buy a house that could carry on dropping in value over the next 2-5 years?

I'm not buying to make money. I just want to live somewhere that feels like it's mine and I can decorate it how I like. And also it would be great not to have to share with housemates anymore! But I also want to get the best deal I can for us.

We have made a couple of offers on a property we really liked, but the vendor withdrew the property from the market, which was a shame.

Still, I'm patient and very happy to keep looking.

We are looking to pay somewhere between 115 and 125K for somewhere. It needs to have some outdoor space and some kind of secure shed/ outhouse would be helpful. We need parking spaces. We aren't confident enough to do up a property, at least not yet, so have to scratch out any that need modernisation/ rewiring/ reroofing/ replumbing. We might be able to buy some of the overpriced new builds that apparently aren't selling, or a repossession.

My peers are also settling down together and buying their first houses.

One young couple bought a 2 bedroom place in St Budeaux for 117K nearly a year ago. They didn't have much deposit, so their mortgage rate is quite high. Their monthly payments will be nearly twice what we'll pay. It turned out not to be such a great buy, because the damp has caused serious mould problems, but I think they are still happy to have their own place.

Another couple snatched up a repossession in Lipson. Not sure what they paid for it, but think it went for around 120K, certainly they seem happy and the whole process was very quick. They have the keys and are busy decorating and doing it up.

Happy to hear your thoughts, comments or ideas, folks.

Share this post


Link to post
Share on other sites
Hello Gang!

I'm 30 years old and have looked bitterly through the windows in estate agents for many years, having been locked out of the housing market. I don't earn a great deal, so I had resigned myself to never getting my own place.

I'm now looking to buy my first house or flat. It feels as though circumstances have conspired in my favour over the last few months.

1) I am now with a lovely guy who has some capital (inheritance from an aunt) and would love to live with me :D

2) My folks have given me some money so I can also have a deposit

3) House prices have fallen to a more realistic level

4) Both of us do not earn much, but have secure jobs, so we are not worried about redundancy

Right now, there's no hurry. House prices look likely to carry on dropping and other FTB don't generally have the same good fortune as us with regards to a deposit. A lot of folk can't get mortgages at all. So there are a lot less houses on the market than usual apparently, which means less choice, but we can afford to take our time. And why hurry to buy a house that could carry on dropping in value over the next 2-5 years?

I'm not buying to make money. I just want to live somewhere that feels like it's mine and I can decorate it how I like. And also it would be great not to have to share with housemates anymore! But I also want to get the best deal I can for us.

We have made a couple of offers on a property we really liked, but the vendor withdrew the property from the market, which was a shame.

Still, I'm patient and very happy to keep looking.

We are looking to pay somewhere between 115 and 125K for somewhere. It needs to have some outdoor space and some kind of secure shed/ outhouse would be helpful. We need parking spaces. We aren't confident enough to do up a property, at least not yet, so have to scratch out any that need modernisation/ rewiring/ reroofing/ replumbing. We might be able to buy some of the overpriced new builds that apparently aren't selling, or a repossession.

My peers are also settling down together and buying their first houses.

One young couple bought a 2 bedroom place in St Budeaux for 117K nearly a year ago. They didn't have much deposit, so their mortgage rate is quite high. Their monthly payments will be nearly twice what we'll pay. It turned out not to be such a great buy, because the damp has caused serious mould problems, but I think they are still happy to have their own place.

Another couple snatched up a repossession in Lipson. Not sure what they paid for it, but think it went for around 120K, certainly they seem happy and the whole process was very quick. They have the keys and are busy decorating and doing it up.

Happy to hear your thoughts, comments or ideas, folks.

For 120k in Plymouth, if you can a) wait, and B) get organised to buy at auction, you'll be able to pick up something excellent. Be careful, lots of rubbish property with damp and other problems there, they are money pits. A lot of it was hastily rebuilt after the war.

With all the funny goings-on the exact moment is hard to pick, I reckon November this year, or maybe November next year if Gordy manages to fiddle the figures to make things look better for the election in 2010. Buying in spring will inevitably cost you a few K IMO.

Have fun playing house. ;)

Share this post


Link to post
Share on other sites
For 120k in Plymouth, if you can a) wait, and B) get organised to buy at auction, you'll be able to pick up something excellent. Be careful, lots of rubbish property with damp and other problems there, they are money pits. A lot of it was hastily rebuilt after the war.

With all the funny goings-on the exact moment is hard to pick, I reckon November this year, or maybe November next year if Gordy manages to fiddle the figures to make things look better for the election in 2010. Buying in spring will inevitably cost you a few K IMO.

Have fun playing house. ;)

Thanks for the reply.

Auction seems like a good idea in terms of getting value for money. I guess there a lot of repossessions and they they end up there. I don't know much about auctions. I have so far focused all my attention on trying to understand the housing market and the process of buying a house and feel like I've just about grasped that! My fear about auction is that I could end up buying something rubbish and not realise it.

I guess I should go along to an auction first of all, just to observe and get a feel for the process.

I guess you get to take a good look at a property and if you're interested you must be able to get it surveyed - but would that happen before the auction??

Are there lots of local auctions with Plymouth property, do you know? How does it work?

Anyone out there with experience of buying property at auction?

Charlie.

Share this post


Link to post
Share on other sites
Thanks for the reply.

Auction seems like a good idea in terms of getting value for money. I guess there a lot of repossessions and they they end up there. I don't know much about auctions. I have so far focused all my attention on trying to understand the housing market and the process of buying a house and feel like I've just about grasped that! My fear about auction is that I could end up buying something rubbish and not realise it.

I guess I should go along to an auction first of all, just to observe and get a feel for the process.

I guess you get to take a good look at a property and if you're interested you must be able to get it surveyed - but would that happen before the auction??

Are there lots of local auctions with Plymouth property, do you know? How does it work?

Anyone out there with experience of buying property at auction?

Charlie.

Have a look at westcountrypropertyauctions- quite a lot for Plymouth for early May, repos are now advertised in the local paers on the property pages, stating an offer has been made.

Plymouth has some very difficult areas, so more important than damp is to check you are not buying in to a crack den area- damp is fixable!

Share this post


Link to post
Share on other sites
Have a look at westcountrypropertyauctions- quite a lot for Plymouth for early May, repos are now advertised in the local paers on the property pages, stating an offer has been made.

Plymouth has some very difficult areas, so more important than damp is to check you are not buying in to a crack den area- damp is fixable!

Lol! Good point.

There was a police raid not so long ago, right next door to my current rental property - one of the many so-called cannabis factories that police have been raiding in the last few months. Though, to be fair, we had no trouble with them, didn't even know there was anyone there!

I realise there are even more unfavourable areas. I have my favourite areas in Plymouth and others where I won't even look, because I know it's a waste of time. I want to feel safe and happy.

I have noticed a lot of properties with damp problems. Sometimes estate agents try to tell me that a room is musty because the room hasn't been used much. I am very wary.

Thanks, I did take a look at the Fulfords Auction site, as you suggested. Nothing on the site that catches my eye for now, but will look again. :-)

Share this post


Link to post
Share on other sites

Bit of an odd one. The last house to sell in my road, substantial, 2 bed, 3 storey old terraces went for £99,500 in August 2003. In June last year one sold for £83,000 in probate. It needed gutting and was bought by a landlord. On the 22nd of December in 2008 it was sold again for £135,000. the strange thing is that the original landlord still goes there. Some sort of tax thing?

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.

  • 315 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.