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One percent

House prices slipping into the sea

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https://www.bbc.co.uk/news/business-44575400

Affording a home in one of Britain's ritziest seaside towns has long been way out of reach, even for the moderately rich.

But now it seems that house prices in two of the smartest resorts have tumbled significantly in the last year.

In the boating haven of Salcombe in South Devon, prices have fallen 8.2%, according to the Halifax.

And in Sandbanks in Dorset, renowned for being the UK's most expensive resort, prices are down 5.6%.

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51 minutes ago, Frank Hovis said:

Probably Salcombe too sadly; still any bad news headlines for house prices are good news :)

I will rejoice when I see the fekkers who own second homes in Salcombe running to foodbanks.

Although havng said that, there is something to be said for Salcombe as it does mean that presently all the noveau-riche tossers are concentrated in one place with just one access road in and out.

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My house has been on the market for a month.

1 fucking viewing. I'm just priced along with all the other over priced tat. Though, like everyone else i think my place is "special".:Old:

HOWEVER: Project "Rent to Remainers" will take shape nicely soon, as prices of flats are falling too.

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53 minutes ago, Hopeful said:

I will rejoice when I see the fekkers who own second homes in Salcombe running to foodbanks.

Although havng said that, there is something to be said for Salcombe as it does mean that presently all the noveau-riche tossers are concentrated in one place with just one access road in and out.

Have you considered blocking both roads?  

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Posted (edited)
4 minutes ago, One percent said:

Have you considered blocking both roads?  

Same road in and out, it would be delightfully, simple.

Edited by Hopeful

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2 minutes ago, Hopeful said:

Same road in and out, it would be delightfully, simple.

Ah good, mine the fucker. Gun emplacement strategically placed and don’t let them out. Simples. 

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52 minutes ago, shindigger said:

My house has been on the market for a month.

1 fucking viewing. I'm just priced along with all the other over priced tat. Though, like everyone else i think my place is "special".:Old:

HOWEVER: Project "Rent to Remainers" will take shape nicely soon, as prices of flats are falling too.

Tip: become an accidental landlord and post about your experiences on HPC.

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If you really want to sell in this market quickly you have to price below all the other "2 up 2 down tiny garden" properties. And anything over £1m down my way is not selling at all. I think there has been 3 sales in the past year within 10 miles of here over £1m, bearing in mind there are currently 220 properties listed with a price in excess of £1m.

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12 minutes ago, spunko2010 said:

If you really want to sell in this market quickly you have to price below all the other "2 up 2 down tiny garden" properties. And anything over £1m down my way is not selling at all. I think there has been 3 sales in the past year within 10 miles of here over £1m, bearing in mind there are currently 220 properties listed with a price in excess of £1m.

Anecdotal: A neighbour has struggled to sell his 4 bedroom house in the Midlands @ £285,000. It's been on the market for a year and he had one offer £8,000 under ask. I told him he'd be daft not to take the money, told him what the capital cost of having the property on the market longer would be but he wouldn't listen. He's switched to another agent and it's now priced sub £250k however he's split up the garage and is selling that separately. The mind boggles.

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7 minutes ago, longtomsilver said:

Anecdotal: A neighbour has struggled to sell his 4 bedroom house in the Midlands @ £285,000. It's been on the market for a year and he had one offer £8,000 under ask. I told him he'd be daft not to take the money, told him what the capital cost of having the property on the market longer would be but he wouldn't listen. He's switched to another agent and it's now priced sub £250k however he's split up the garage and is selling that separately. The mind boggles.

This idiot is selling a cottage where parking is a premium. They have carved the parking space off and are selling it separately. I wouldn’t even view out of principle as if they are that greedy, god knows what shenanigans are down the line

 https://www.rightmove.co.uk/property-for-sale/property-74015690.html

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3 minutes ago, One percent said:

This idiot is selling a cottage where parking is a premium. They have carved the parking space off and are selling it separately. I wouldn’t even view out of principle as if they are that greedy, god knows what shenanigans are down the line

 https://www.rightmove.co.uk/property-for-sale/property-74015690.html

Beware the ex or current holiday home for sale, in my experience nearly always owned by a greedy bastard who wants the unrealistic top dollar.

Another red warning sign is "retention" clauses, I would never buy a home with one of those placed on it, eg if you sell the land in the next 50 years I want 25% of the increase in value. Fuck that.

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4 minutes ago, One percent said:

This idiot is selling a cottage where parking is a premium. They have carved the parking space off and are selling it separately. I wouldn’t even view out of principle as if they are that greedy, god knows what shenanigans are down the line

 https://www.rightmove.co.uk/property-for-sale/property-74015690.html

People! O.o

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3 hours ago, Dave Bloke said:

Sandbanks is really too small a market to trust any figures

 

I did, not long ago, download the land reg HPI for every postcode in England/Wales. The only place average sales prices fell between 1995 and whenever the dataset ended (2014?) was the Scilly Isles (cant remember if that was overall, or detached only)...clearly an anomaly caused by low volumes.

 

Aside from that, i think the lowest increases were in Burnley and some districts of Sheffield near the tinsley viaduct, around 2 to 3 times increase. Highest were parts of London, up between 7 to 10 times.

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1 hour ago, spunko2010 said:

Tip: become an accidental landlord and post about your experiences on HPC.

It wont be accidental. I want to rinse as many young remainers as i can get my hands on.

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1 hour ago, spunko2010 said:

If you really want to sell in this market quickly you have to price below all the other "2 up 2 down tiny garden" properties. And anything over £1m down my way is not selling at all. I think there has been 3 sales in the past year within 10 miles of here over £1m, bearing in mind there are currently 220 properties listed with a price in excess of £1m.

Thats not a description of my house, but i take your point. There was a brief spurt in May but its dead as a door nail again.

I have an ageing parent who is driving the sale to some extent. Have a more suitable place in mind, but no sign that vendor intends to drop, so nor will i.

STAG-NATION.

I can adapt current place if needed.

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On 23/06/2018 at 12:00, spunko2010 said:

If you really want to sell in this market quickly you have to price below all the other "2 up 2 down tiny garden" properties. And anything over £1m down my way is not selling at all. I think there has been 3 sales in the past year within 10 miles of here over £1m, bearing in mind there are currently 220 properties listed with a price in excess of £1m.

Not sure how anyone can look at  those stats and think they are going to sell up this site of 2050.

Thats ~70 year worth of stock on the market.

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On 23/06/2018 at 11:00, spunko2010 said:

If you really want to sell in this market quickly you have to price below all the other "2 up 2 down tiny garden" properties. And anything over £1m down my way is not selling at all. I think there has been 3 sales in the past year within 10 miles of here over £1m, bearing in mind there are currently 220 properties listed with a price in excess of £1m.

That sure is a load of house money Spunky. You must be very posh indeed.

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1 hour ago, MrPin said:

That sure is a load of house money Spunky. You must be very posh indeed.

Post-Lotto win, I will be the poshest of them all.

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On 23/06/2018 at 05:28, Hopeful said:

I will rejoice when I see the fekkers who own second homes in Salcombe running to foodbanks.

Although havng said that, there is something to be said for Salcombe as it does mean that presently all the noveau-riche tossers are concentrated in one place with just one access road in and out.

Come the revolution!

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1 hour ago, sarahbell said:

Sandbanks? Is it built on sand?

It's formed from sand and pebbles washed along the shore though has been stabilised by dumping rock around the more exposed bits.

The road around the harbour is only a yard above the usual high water mark and there has been considerable oil extraction under it from the Purbeck oil field, currently the voids left by oil extraction are being filled by high pressure water being pumped in but they may stop leading to subsidence as it has in other places.

Sea level rise estimates for the 21st century range from 0.3 to 2.5 yards.  Based upon what I've seen over the years last forty years (basically no change) I would expect that the 0.3 is more likely to be correct and it will be fine with a sea level rise of a foot.

If instead it's towards the eight or nine foot end of that range then it's bye bye Sandbanks; though at even a one yard rise a good storm will have waves breaking over it.

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57 minutes ago, Frank Hovis said:

It's formed from sand and pebbles washed along the shore though has been stabilised by dumping rock around the more exposed bits.

The road around the harbour is only a yard above the usual high water mark and there has been considerable oil extraction under it from the Purbeck oil field, currently the voids left by oil extraction are being filled by high pressure water being pumped in but they may stop leading to subsidence as it has in other places.

Sea level rise estimates for the 21st century range from 0.3 to 2.5 yards.  Based upon what I've seen over the years last forty years (basically no change) I would expect that the 0.3 is more likely to be correct and it will be fine with a sea level rise of a foot.

If instead it's towards the eight or nine foot end of that range then it's bye bye Sandbanks; though at even a one yard rise a good storm will have waves breaking over it.

Sod the geography.

Sandbanks become populated by the most scummiest, leveraged, fake tanned bullshitters and fucktards.

Not many years ago that area was populated by old colonels in bungalows.

Gone to shit with that fat bankrupt conman richard whatsit.

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1 hour ago, spygirl said:

Sod the geography.

Sandbanks become populated by the most scummiest, leveraged, fake tanned bullshitters and fucktards.

Not many years ago that area was populated by old colonels in bungalows.

Gone to shit with that fat bankrupt conman richard whatsit.

And property BTL scumbags off homes under the hammers driving range rovers.

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