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Overpriced Property?

mr_goomr_goo Posts: 3,765
edited December 2016 in The cake stop
Ok forumites. Whilst on my rounds this morning, I happened to look in the local estate agent window and saw this 4 bed mid terraced property for sale. Yours for a cool £1.3 million. Not in London. And definately not Sandbanks (those are all 'Look at Me!' glass boxes)
10-egremont-terrace-main.jpg?itok=4Ux8Heib
Always be yourself, unless you can be Aaron Rodgers....Then always be Aaron Rodgers.
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Posts

  • Lymington?
  • mr_goomr_goo Posts: 3,765
    JoeNobody wrote:
    Lymington?

    Not Lymington. Which is just a few miles from my doorstep. There are similar style candy coloured houses. But even there it would be taking the wee wee at that price. I would estimate Lymington equiv would be about half the price.
    Always be yourself, unless you can be Aaron Rodgers....Then always be Aaron Rodgers.
  • Mr Goo wrote:
    Which is just a few miles from my doorstep. There are similar style candy coloured houses.
    The two reasons I asked ;) Further west then?
  • Or maybe south?
  • mr_goomr_goo Posts: 3,765
    Correct on both counts.
    Always be yourself, unless you can be Aaron Rodgers....Then always be Aaron Rodgers.
  • Not the Isle of Wight then. Dorset somewhere? Maybe Swanage?
  • mr_goomr_goo Posts: 3,765
    Go west young man.
    Always be yourself, unless you can be Aaron Rodgers....Then always be Aaron Rodgers.
  • Weymouth? Or in to Devon?
  • RideOnTimeRideOnTime Posts: 4,712
    https://www.martinco.com/property/for-sale/285573

    How about this 3-bed terrace for £3.85m...
  • RideOnTime wrote:
    https://www.martinco.com/property/for-sale/285573

    How about this 3-bed terrace for £3.85m...

    To be fair, those are good size double bedrooms.
  • £1.3M isn't too bad for a refurbished late 19th century Victorian villa, set over four floors with farreaching harbour views, 4 beds, family bath, 2 showers, kitchen, sitting room, open plan reception room with kitchen area, utility, mezzanine, balcony, front and rear gardens.
  • rolf_frolf_f Posts: 16,015
    edited November 2016
    Thick Mike wrote:
    RideOnTime wrote:
    https://www.martinco.com/property/for-sale/285573

    How about this 3-bed terrace for £3.85m...

    To be fair, those are good size double bedrooms.

    But it can't even manage a separate hallway. Staircase in the living room is what I associate with cheap modern builds that can't afford internal doors.
    Thick Mike wrote:
    £1.3M isn't too bad for a refurbished late 19th century Victorian villa.

    Is "villa" a Southern thing? In Yorkshire that would be a terrace! :lol:
    Faster than a tent.......
  • haydenmhaydenm Posts: 2,934
    I have to say the downsides of moving to Scotland are vastly outweighed by avoiding the hilarious house prices back at home...
  • I was going to say Shaldon in Devon, but a little cheat, and I know exactly where it is. It's a similar spot in Devon that it unique, and therefore commands silly prices. I happen to live in another spot in Devon like that, where the period houses make totally silly money.
  • DeVlaeminckDeVlaeminck Posts: 7,315
    I had no idea that prices were anything like that outside of London - what's driving those prices then second homes, retirement ?
    [Castle Donington Ladies FC - going up in '22]
  • mr_goomr_goo Posts: 3,765
    I had no idea that prices were anything like that outside of London - what's driving those prices then second homes, retirement ?

    London/Leafy Suburbanites that want a holiday home. It nicely ensures that youngsters cannot get on property ladder as it inflates the local house prices.

    It's in Salcombe.
    Always be yourself, unless you can be Aaron Rodgers....Then always be Aaron Rodgers.
  • I had no idea that prices were anything like that outside of London - what's driving those prices then second homes, retirement ?
    Both, but lots of retirement of people with more money than they really know what to do with. You've got a similar dynamic in certain places in Cornwall too. I'll spoil the fun - it's Salcombe - like Dartmouth and Shaldon, it is a seaside location with a limited stock of quality homes in an historic setting, beautiful scenery and decent climate (for the UK). It's London prices because it's London buyers setting the benchmark.
  • mr_goomr_goo Posts: 3,765
    Rock and Padstow are also being invaded.
    More local to me are villages on Isle of Purbeck where permanent occupancy is below 50%. And Mudeford Nr Christchurch famous for its £250k+ beach huts (shed painted bright colour).
    Always be yourself, unless you can be Aaron Rodgers....Then always be Aaron Rodgers.
  • AnonymousAnonymous Posts: 79,678
    I could have guessed that was Salcombe. Prices are high because it's quiet, relatively accessible and bloody small so there's not much space for real estate, especially with sea views.

    Rock is the same and prices have been skyrocketing for a while.

    We grew up on the beaches of Mudeford. I went every summer since I was in nappies until I was about 18 staying on those things. Mum tried to buy one when they were £12K and dad said no.

    Cleverly in some areas of Cornwall (Bantham I think) they have banned homes from being let for more than 12w per year.
  • fat daddyfat daddy Posts: 2,605
    something is only ever overpriced when it meets the following conditions

    (1) It sells at that price
    (2) but not to you because you cant afford it.

    I think BMW Mn's are over priced for the same reason
  • mr_goomr_goo Posts: 3,765
    Years ago I had a client in a village a few miles inland from Padstow. He could see the problems for locals. He partitioned some of his land and built a few cottages on it. It was low cost / rent with the occupancy stipulation beinf that you had to have lived in the area full time for 6 years.
    Always be yourself, unless you can be Aaron Rodgers....Then always be Aaron Rodgers.
  • rick_chaseyrick_chasey Posts: 57,423 Lives Here
    Cost of having a roof over your head is the single biggest reason why the young (below 30) feel they're getting a bad rap compared to their parents.

    Earnings at their age are comparable, but the cost of living is significantly higher.
  • haydenmhaydenm Posts: 2,934
    Cost of having a roof over your head is the single biggest reason why the young (below 30) feel they're getting a bad rap compared to their parents.

    Earnings at their age are comparable, but the cost of living is significantly higher.

    When we are seeing people drowning in the Med just to move somewhere where they won't be bombed I hardly think it is unreasonable for my middle class friends to move somewhere cheaper... :wink:
  • mr_goomr_goo Posts: 3,765
    Cost of having a roof over your head is the single biggest reason why the young (below 30) feel they're getting a bad rap compared to their parents.

    Earnings at their age are comparable, but the cost of living is significantly higher.

    I agree. And it's not often we do. I would go as far to say that in many areas it is people in their 40s to 50s that struggle to buy. Even though they have reasonably well paid jobs.
    Always be yourself, unless you can be Aaron Rodgers....Then always be Aaron Rodgers.
  • rick_chaseyrick_chasey Posts: 57,423 Lives Here
    HaydenM wrote:
    Cost of having a roof over your head is the single biggest reason why the young (below 30) feel they're getting a bad rap compared to their parents.

    Earnings at their age are comparable, but the cost of living is significantly higher.

    When we are seeing people drowning in the Med just to move somewhere where they won't be bombed I hardly think it is unreasonable for my middle class friends to move somewhere cheaper... :wink:

    Depends on where the middle class jobs are innit.

    S'all very well living in the outer Hebrides, but that commute ain't feasible.
  • finchyfinchy Posts: 6,686
    HaydenM wrote:
    Cost of having a roof over your head is the single biggest reason why the young (below 30) feel they're getting a bad rap compared to their parents.

    Earnings at their age are comparable, but the cost of living is significantly higher.

    When we are seeing people drowning in the Med just to move somewhere where they won't be bombed I hardly think it is unreasonable for my middle class friends to move somewhere cheaper... :wink:

    Good idea! Let's all emigrate to another country, that'll do the UK a load of good.
  • haydenmhaydenm Posts: 2,934
    HaydenM wrote:
    Cost of having a roof over your head is the single biggest reason why the young (below 30) feel they're getting a bad rap compared to their parents.

    Earnings at their age are comparable, but the cost of living is significantly higher.

    When we are seeing people drowning in the Med just to move somewhere where they won't be bombed I hardly think it is unreasonable for my middle class friends to move somewhere cheaper... :wink:

    Depends on where the middle class jobs are innit.

    S'all very well living in the outer Hebrides, but that commute ain't feasible.

    Agreed, I'm just playing devils advocate because I'm *lucky* and moved north for work and the Mrs has also found good work here too. Having said that there are affordable houses within commuting distance of Glasgow/Edinburgh/Stirling and presumably lots of jobs. Some of said middle class friends from home just have well off parents and work in supermarkets so it's not a massive surprise they can't afford anything

    Salcombe is ridiculously expensive, should have guessed
  • The lakes also have a few housing issues but doubt as expensive as Salcombe. They often sell on local occupancy rules. You have to live and work in the area to buy certain houses, but if you meet those rules you get a house at less than market value. I've seen 1 and 2 bed houses not too far from 3 bed local occupancy houses. The smaller houses are significantly more expensive because anyone can buy them.
  • rick_chaseyrick_chasey Posts: 57,423 Lives Here
    HaydenM wrote:
    HaydenM wrote:
    Cost of having a roof over your head is the single biggest reason why the young (below 30) feel they're getting a bad rap compared to their parents.

    Earnings at their age are comparable, but the cost of living is significantly higher.

    When we are seeing people drowning in the Med just to move somewhere where they won't be bombed I hardly think it is unreasonable for my middle class friends to move somewhere cheaper... :wink:

    Depends on where the middle class jobs are innit.

    S'all very well living in the outer Hebrides, but that commute ain't feasible.

    Agreed, I'm just playing devils advocate because I'm *lucky* and moved north for work and the Mrs has also found good work here too. Having said that there are affordable houses within commuting distance of Glasgow/Edinburgh/Stirling and presumably lots of jobs. Some of said middle class friends from home just have well off parents and work in supermarkets so it's not a massive surprise they can't afford anything

    Yeah. I graduated in '09 up North but the jobs market there was eye watering - I remember applying to one place and the guy actually replied back to say - "I'm really sorry, we've just cut our workforce by a third, we're in no position to hire" - so London was the only place feasible, and even then it took a long time.

    Turns out I ended up in an industry which is extremely London centric (the concentration of big corporate execs outside of London isn't high enough to support the industry), so I'll have to take a career change & step back when I'm inevitably forced out of London when I start having children.
  • haydenmhaydenm Posts: 2,934
    HaydenM wrote:
    HaydenM wrote:
    Cost of having a roof over your head is the single biggest reason why the young (below 30) feel they're getting a bad rap compared to their parents.

    Earnings at their age are comparable, but the cost of living is significantly higher.

    When we are seeing people drowning in the Med just to move somewhere where they won't be bombed I hardly think it is unreasonable for my middle class friends to move somewhere cheaper... :wink:

    Depends on where the middle class jobs are innit.

    S'all very well living in the outer Hebrides, but that commute ain't feasible.

    Agreed, I'm just playing devils advocate because I'm *lucky* and moved north for work and the Mrs has also found good work here too. Having said that there are affordable houses within commuting distance of Glasgow/Edinburgh/Stirling and presumably lots of jobs. Some of said middle class friends from home just have well off parents and work in supermarkets so it's not a massive surprise they can't afford anything

    Yeah. I graduated in '09 up North but the jobs market there was eye watering - I remember applying to one place and the guy actually replied back to say - "I'm really sorry, we've just cut our workforce by a third, we're in no position to hire" - so London was the only place feasible, and even then it took a long time.

    Turns out I ended up in an industry which is extremely London centric (the concentration of big corporate execs outside of London isn't high enough to support the industry), so I'll have to take a career change & step back when I'm inevitably forced out of London when I start having children.

    Gah, that sounds like a difficult situation that a lot of people are in. I'm in the opposite position where I can live down south and earn pennies or live up here and do better, we are quite an odd company group so the guys at the top have an office in London and town houses in Mayfair and we are stuck out in the sticks...
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