TelBoy

Anybody know anything about the property market in Hastings...?

pbee

i agree with Iwan,

My sister and my sister in law both have their houses up for sale recently.

but small 3 bed estate houses which is pretty much first time buyer territory they both paid around 80k 3 years ago. one went on the market at 160k the other 170k. When they told me the asking price i told them straight out.

this is a first time buyer house no one will pay that sort of money. not 1 person round in 3 months. Both taken them off the market and waiting for things to pickup, muppets.

people have realised that houses are overpriced. jesus ive known this for the last year. If I was to buy my house now i wouldnt be able to afford the asking price, and they ae still selling here. a smaller house round the corner sold for 380k advertised for 389k, Mines bigger and a corner plot, mind you we havent had anybody knocking on the door asking if we were thinking of selling the house since spetember time so maybe it is slowing down.

Also people are pulling out of house buying at the moment. I went to see my mortgage advisor about change of insurance companies, and he was pissed off he had 5 people that morning pull out as they are unsure of the market !!!. he didnt think it was going to crash just re-asses and people will sit tight for a few months and let it settle. If people are desperate to move then i guess they will reduce the price otherwise they will tkae the house of the market and wait.

davegtt

why are people going to get their houses repossesed? only way is if interest rates rise to stupid levels again making thier house unaffordable. THEN even then, the rates would probably have to be high for a while because anyone who had any sense and bought at the peak would have had a 3 year or more fixed rate morgage so should be able to ride out the majority of any problems....

I think alot of the people who post the **** about how people have overspent and just those who are praying and hoping something will happen in their favour. Nothing will be on the same scale as it was in the late 80's in my opinion.... anyone want to PROVE me wrong? off course Ive stated this is my opinion so if anyone wants to prove me wrong it'll be information gratefully receieved, otherwise all this talk is opinions...

interests have been on the rise recently because the BoE have been trying to cool off the housing market, they have achieved that now.... there is no reason for it to keep rising to silly levels, the housing market may readjust its pricing structure. that something that could well be round the corner, but I dont think house prices are going to crash as a result of high interest rates ala the 80's

chris's scooby

I've heard the time to buy there was a couple of years ago. I think the prices have leveled out a bit now.

JoeyDeacon

My wife used to be an estate agent in Hastings and is friends with a few people who still are. One of them was involved in a management buyout about 8 months of the estate agent he worked for. Speaking to him before christmas the market was totally dead. He told me a story of one saturday where the only person he saw all day was the postman. Saw him again last week and he said the market had improved but he didn't seem keen to go into details. Either the market has improved slightly or it is just as bad but he didn't want to let on to me how much financial trouble his company is in.

What he did say is that he is starting to get his first reposessions since the last crash in 1989.

According to the local papers last time I was down there prices had fallen by 7% over the last few months.

D0ctorWho

Hastings is fcuked simply because there is no viable link to London or the rest of the world (remember the so called super highway labour cancelled?). Add to that massive crime and you have a prime area dead due to lack of infrastructure.

I bought a 4 bed house close to the Police/Ambulance HQ about 5 yrs ago. Sold 2 yrs ago at it's peak of 200K and they are now going for 150K.

People are going to get repo'd with small interest rate rises because they've overstretched themselves. It only takes an increase in payments from £750 PCM to £900 for people to start falling behind. At least that's what I'm hoping, I'd love to profit from the misery of others.

TelBoy

Property bought/sold in Hastings, M3, LP12, film/sci-fi discourse. I see.

Jye

snigger

D0ctorWho

C'est la meme chose non? Alors je suis en plein vue!


Try reading the board, my account got hijacked, now I'm back.

TelBoy

LOL, *and* fluent in French?!

Lie to the hoi polloi, mate - you don't have to tar us ALL with the same brush..

D0ctorWho

I'm not lying, it's as simple as this, the account you are all so fond of was hijacked by person(s) unknown and various comments made.

Since then I've been here in various guises. Some easy to spot. Others, judging by the willingness of certain parties to engage in conversation, not.

What I find most amusing is the fixation of some people with a certain persona, I guess he must have really stuck the knife in eh? How marvellous!

TelBoy

Like i say, we need more characters. A bit like the English cricket team. Can be boring otherwise...

But ok, we'll play your game; NACRO is somebody *completely* different.


Moving on....

JoeyDeacon

Personally I wouldn't live in Hastings if you paid me. The first 5 pages of the local paper are always full of stabings, break ins and people being randomly attacked for no reason. Read an article about St Leonards which stated 25% of all the property there was unfit for habitation.

Anyone with half a brain who went to university never moves back which means the population is mostly made up of no hopers who are happy to spend their lives getting drunk, fighting, not working and getting some girl pregnant at 16. From what I recall Hastings has the second highest rate of teenage pregnancy in the country.

Even just driving around Hastings the lack of money is obvious as the cars you see are a lot older than the ones you see driving around Surrey for example.

D0ctorWho

Indeed joey but Hastings could be like Brighton given a decent link to London.

Cosmopolitan, sexy and desireable- a little like myself.

Without the superhighway forget it.

fitzscoob

Im in the south east, and at the moment am looking for a property with my girlfriend - to say first time buyers are struggling is an understatement.

180k for a 2 bedroom flat, thanks but no thanks.

We are saving and waiting, prices may go up, but they also may come down, who knows, either way I refuse to pay 180k for a small 2 bedroom flat.

This is a reasonably nice area of hertfordshire, about an hour from london.

GCollier

Being single and foot loose you probably did.

But for most people when you add up the cost and inconvenience of moving, and money spent renting waiting and hoping for prices to fall, the choice is not so clear.

The market has definitely slowed and asking prices at least have eased off a few percent in the last 6 months. But desirable property is still shifting, and as far as the cataclysm UB is predicting, well I don't see any signs of it.

Gary.

anc-sti

Put ours on the market 3weeks ago, sold it for the asking price within a week. Managed to get a offer accepted on a property a week later. It was on at 270k and we got it below the dreaded 250k 3% stamp, just hope it all goes through. Touch wood!

The markets definately picking up a bit around here.

subster

In Lincoln (which was thriving) 3 quite large national builders have stopped building on a development site due to a backlog of unsold properties. Some companies do stop trading this near to the end of the tax year, but this is not the message coming through to the lads. The past year really has only seen a big demand for starter homes just above the 100k mark be prepared to see rabbit hutches popping up all over

blueone

I think it is safe to say that the hosuing market is as dead as my sex life! LOL

easyrider

Is that why you're called "blueone"

wez_sti

mum put her house up june last year and the only offer she had fell through.


she was planning to use the money to pay the mortgage and fund her move to Oz but she's being forced into trying to rent the property instead which looks a much more realistic option