Sunday, October 26, 2008

44% drop in price – for a beach hut

Small grey hut with £45,000 price tag

A tiny beach hut has gone on sale for £45,000 - even though the country is in the middle of its worst economic crisis for more than 70 years. The small grey building in Southwold, Suffolk, was put on the market after a similar one sold for over £80,000 in the summer before the financial woes. The estate agents involved are confident of finding a buyer despite a collapse in the market. Richard Leeming, a director of the estate agent, said: "Southwold is a special place in people's hearts and it is popular for holidays, holiday homes and people from the city with second homes. Life is tough at the moment for most people but maybe not all of them." Despite the optimism, Mr Leeming admits there has been a slight reduction in interest.

Posted by drewster @ 10:24 PM (977 views)
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6 thoughts on “44% drop in price – for a beach hut

  • Down 45% from similar property sold in Summer – when it gets to 95% it should be priced about right

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  • thats a shame.

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  • a decent size shed cost £200.

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  • Bonfire Of The Inanities says:

    @jack c said… 10:38pm

    Jack, it’s gone way beyond this linear, extrapolating price decline thing. I guarantee within six months such investments as beach huts will be viewed only as a resource for firewood or makeshift shelter. I’m not kidding here, forget the £40,000, 50% reduced or £4,000, 95% off talk, the only thing that will matter is bare survival, like the inter-war depression years in Britain for ordinary folk, but worse, as most people alive have lost any facilities for living on their wits and brute strength in their arms for prolonged manual work.

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  • I’ve e-mailed Flick and sons about my tool shed, its bigger and more colourful, I wonder if they will contact me to arrange a valuation?

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