Anyone live in this area who'll lend evidence to this? Saw this for sale yesterday
Romans
and I lived 2 doors up until Feb '03, whereupon I sold (grudgingly) for £175k, reduced from 189k asking.....and my house didn't have a decent bathroom or kitchen. 169k asking surely means at least a 10k-15k reduction since '03.
Full Version: Fleet/farnborough/aldershot
Hello
Prices are definitely falling slowly and properties are not moving very fast. I had my eye on a house near Farnborough Tech on for £360,000 early this year, after 3 months it reduced to 'offers over £330,000' but still no takers. It didn't sell and it was taken off the market.
I have a friend trying to sell at the moment and after 3 months on the market and one offer fallen through they have dropped £5K off asking price of £165K. I'll see what happens now.
We are looking to buy but am none to sure of being able to sell my house easily so we will probably hold off for about 1 year. Pity as I saw my dream house today but at £270,000 I feel it is still about £70,000 over-priced. Of course our house is about £30,000 over-priced but if prices adjusted to that level we would need £40,000 lower mortgage to trade up. I am judging the sensible price by looking at the price of the houses back in 2001 and there was only a £40,000 difference then so I can't see why there should be a £110,000 difference now!
We'll watch the house over the next few weeks/months and see what happens.
Prices are definitely falling slowly and properties are not moving very fast. I had my eye on a house near Farnborough Tech on for £360,000 early this year, after 3 months it reduced to 'offers over £330,000' but still no takers. It didn't sell and it was taken off the market.
I have a friend trying to sell at the moment and after 3 months on the market and one offer fallen through they have dropped £5K off asking price of £165K. I'll see what happens now.
We are looking to buy but am none to sure of being able to sell my house easily so we will probably hold off for about 1 year. Pity as I saw my dream house today but at £270,000 I feel it is still about £70,000 over-priced. Of course our house is about £30,000 over-priced but if prices adjusted to that level we would need £40,000 lower mortgage to trade up. I am judging the sensible price by looking at the price of the houses back in 2001 and there was only a £40,000 difference then so I can't see why there should be a £110,000 difference now!
We'll watch the house over the next few weeks/months and see what happens.
Update - have another friend selling house in same area - just accepted offer of £158K for a 2 bed in Beaumont. They had already dropped asking price from 165K to 160K.
A 3 bed terrace house for sale in my street has now dropped another 5K. 6 months ago it was on for 189K then dropped 3 times to end up as £175K. Still too expensive however due to poor location, between a timber yard and a dilapidated house. They'll never sell it in a flat market I think. Just goes to show that it really is location, location, location. Do not get suckered into buying any old rubbish in a booming market as you'll never shift it if the market turns.
Generally however houses seem to be selling in the area - really need to wait 3-6 months to see the land registry data to gauge if price falls are substantial enough to make my move realistic.
A 3 bed terrace house for sale in my street has now dropped another 5K. 6 months ago it was on for 189K then dropped 3 times to end up as £175K. Still too expensive however due to poor location, between a timber yard and a dilapidated house. They'll never sell it in a flat market I think. Just goes to show that it really is location, location, location. Do not get suckered into buying any old rubbish in a booming market as you'll never shift it if the market turns.
Generally however houses seem to be selling in the area - really need to wait 3-6 months to see the land registry data to gauge if price falls are substantial enough to make my move realistic.
Update
The house at £270K in Farnham is now off the market - no interest at that price I imagine.
Another house literally round the corner from it dropped from £245K to £235K.
I think the falls are starting to pick up now.
The house at £270K in Farnham is now off the market - no interest at that price I imagine.
Another house literally round the corner from it dropped from £245K to £235K.
I think the falls are starting to pick up now.
Definately, just got back from holiday and although my landlady's sold (can't wait to see how much for 'cos I think the place was overpriced), the house I'm moving to is being rented 'cos the owner, who's emigrated to Canada couldn't sell despite 2 * £10k drops.
Also just heard they're auctioning off houses on 'Quetta Park' army estate, ok so not great but know someone who's just got a 3 bed semi there for £150k!!
Also just heard they're auctioning off houses on 'Quetta Park' army estate, ok so not great but know someone who's just got a 3 bed semi there for £150k!!
Any thoughts on this area to refresh the thread? Presumably this part of Surrey/Hants would be regarded as the 'South East'. Having lived there until last year I always thought the market 'picky' - buyers wanted a lot for their money and an acquaintance who sold very recently had to wait several months for a buyer to come along.
Pippa?...did you by any chance use to live in east ewell?..in the 1980's????..and attend the college there?...if not please ignore my question..
Hi there. Greetings from Farnham (not quite Fleet / Farnborough / Aldershot but close enough to be relevant.)
New poster here, so go easy on me if I get a bit out of my pram - this post has been a while coming
So. South Farnham - let the carnage begin!! Don't believe anything the locals or the EA's tell you about it being "bombproof" with "loads of city money" and "unaffected by events going on elsewhere in the economy." Derr - ain't you heard of the global economy, stoopid?!
The odd period doer-upper is shifting, because there's always some to$$er who "did well in London" and will pay £930K for a heap that was on the market at £800K and went to sealed bids (remember them - seems like a lifetime ago doesn't it, but this one was October last year. Yikes!!) However, after they've spent £200K making it habitable, and by that time it's worth £800K, they may wish to return to London from whence they came.
2007 - "did well in London" 2008 - "bankrupt in Surrey."
Heart would bleed... except that none of my kids will be able to afford a shoebox when they grow up, because of people like that creating rampant HPI with their ill-gotten bonuses paid out by the banks (for screwing the whole economy up for a short-term profit. Makes you think doesn't it?!)
Anyway, I've been lurking on here long enough to know that the good burghers of HPC like specifics and figures, so get your laughing gear around these babies...
My favourite was a disgusting four (tiny) bed piece of garden-grabbing infill cr*p, that some developer built 4-5 years ago, right on the end of one of the only two council estates in Lower Bourne (not that kind of place really
) Put it on six months ago for £525K, and it's progressively gone down and down, and a couple of days ago it was at £429,950 and still not a sniff. Can't upload the URL as it's now been taken off the market (haven't seen his XKR around for a while, so maybe he rented it out and took it off the market to save further embarrassment,) but if it pops up again rest assured I'll share it with you.... I made that drop about 18%, and we haven't really started this slump thing yet...
However, this little beaut is still hanging around...
http://www.primelocation.com/uk-property-f...1&skipreg=1
"Reflections" used to be a lovely old little bungalow, but it was demolished by one of our large (soon to be much diminished we hope
) bunch of local scumbag garden-grabbing developers...
Went on market around September last year at £800K. Not a sniff (well, it was described in local paper by the former Mayor as the "Psycho House," and everyone knows the original planning permission was for four beds but as usual they built it as five!) so it soon dropped to £750K.
Today my friend Mrs Primelocation and her email alerts tell me the sale at £750 fell through yesterday (no sh*t - what; in today's booming market? (see below for some fab EA BS)) and it's now down to £725 - I make that just south of a 10% drop, and it ain't no way going to sell for that - certainly not in this market. The agent was all excited when I rang to enquire - you could smell the disappointment when I told him I still wasn't interested. It's fun baiting agents innit', right when they can picture their private-plated Range Rovers scuttling back to the lease company any week now?!
And how about this one? Ooh, guess what - another greedy amateur Beeny-man who's going to lose his shirt. Tee hee..
http://www.primelocation.com/uk-property-f...ls/id/ANDL02642
Nice little bungalow. Developer buys it last year for (I believe - can't find the exact house number on ourproperty.co.uk) around £450K. Bit of tarting up and new bathroom etc. later it goes on the market back end of last year for (if I recall correctly) £590K. Down to £550 cos no-one round here is THAT stupid, and I believe someone offered him £480K for it a few weeks back which he turned down flat. Tw&t.
Guess what - now down to "offers over £500K" Who is he kidding? Who's going to pay £501K and get into 4% Stamp Duty territory? Derrr... Anyway, by my calculations that's a 15% drop if he gets £499K, and that doesn't look likely either right now - should have taken the £480 on offer smart boy...
Haven't got time for anymore right now - my productivity has plummeted by about 50% since I found this fantastic website and community - but there'll be loads more coming up I'm sure...
However, on a final note, apparently there's no problem round here if you ask most of the agents. The local "King of Garden-Grabbing" - God knows how he has the cheek to show his face locally) showed a mate of mine a house this morning. OK location, but apparently a complete dog's breakfast, totally mucked about and way overpriced at £895K for a four bed mess.
But apparently there's "loads of interest" and he reckons they'll "hit the mark no problem..." So that'll be OK then - yeah right, dream on slimeball... I'll get the URL from my mate when I can and upload it when it's down to £750K
but from what he says it will still be massively over the odds then. Roll on minus 30% we all say....
Tata for now. And keep smiling....
B
Must do myself a signature when I get round to it
New poster here, so go easy on me if I get a bit out of my pram - this post has been a while coming
So. South Farnham - let the carnage begin!! Don't believe anything the locals or the EA's tell you about it being "bombproof" with "loads of city money" and "unaffected by events going on elsewhere in the economy." Derr - ain't you heard of the global economy, stoopid?!
The odd period doer-upper is shifting, because there's always some to$$er who "did well in London" and will pay £930K for a heap that was on the market at £800K and went to sealed bids (remember them - seems like a lifetime ago doesn't it, but this one was October last year. Yikes!!) However, after they've spent £200K making it habitable, and by that time it's worth £800K, they may wish to return to London from whence they came.
2007 - "did well in London" 2008 - "bankrupt in Surrey."
Heart would bleed... except that none of my kids will be able to afford a shoebox when they grow up, because of people like that creating rampant HPI with their ill-gotten bonuses paid out by the banks (for screwing the whole economy up for a short-term profit. Makes you think doesn't it?!)
Anyway, I've been lurking on here long enough to know that the good burghers of HPC like specifics and figures, so get your laughing gear around these babies...
My favourite was a disgusting four (tiny) bed piece of garden-grabbing infill cr*p, that some developer built 4-5 years ago, right on the end of one of the only two council estates in Lower Bourne (not that kind of place really
) Put it on six months ago for £525K, and it's progressively gone down and down, and a couple of days ago it was at £429,950 and still not a sniff. Can't upload the URL as it's now been taken off the market (haven't seen his XKR around for a while, so maybe he rented it out and took it off the market to save further embarrassment,) but if it pops up again rest assured I'll share it with you.... I made that drop about 18%, and we haven't really started this slump thing yet...However, this little beaut is still hanging around...
http://www.primelocation.com/uk-property-f...1&skipreg=1
"Reflections" used to be a lovely old little bungalow, but it was demolished by one of our large (soon to be much diminished we hope
) bunch of local scumbag garden-grabbing developers... Went on market around September last year at £800K. Not a sniff (well, it was described in local paper by the former Mayor as the "Psycho House," and everyone knows the original planning permission was for four beds but as usual they built it as five!) so it soon dropped to £750K.
Today my friend Mrs Primelocation and her email alerts tell me the sale at £750 fell through yesterday (no sh*t - what; in today's booming market? (see below for some fab EA BS)) and it's now down to £725 - I make that just south of a 10% drop, and it ain't no way going to sell for that - certainly not in this market. The agent was all excited when I rang to enquire - you could smell the disappointment when I told him I still wasn't interested. It's fun baiting agents innit', right when they can picture their private-plated Range Rovers scuttling back to the lease company any week now?!
And how about this one? Ooh, guess what - another greedy amateur Beeny-man who's going to lose his shirt. Tee hee..
http://www.primelocation.com/uk-property-f...ls/id/ANDL02642
Nice little bungalow. Developer buys it last year for (I believe - can't find the exact house number on ourproperty.co.uk) around £450K. Bit of tarting up and new bathroom etc. later it goes on the market back end of last year for (if I recall correctly) £590K. Down to £550 cos no-one round here is THAT stupid, and I believe someone offered him £480K for it a few weeks back which he turned down flat. Tw&t.
Guess what - now down to "offers over £500K" Who is he kidding? Who's going to pay £501K and get into 4% Stamp Duty territory? Derrr... Anyway, by my calculations that's a 15% drop if he gets £499K, and that doesn't look likely either right now - should have taken the £480 on offer smart boy...
Haven't got time for anymore right now - my productivity has plummeted by about 50% since I found this fantastic website and community - but there'll be loads more coming up I'm sure...
However, on a final note, apparently there's no problem round here if you ask most of the agents. The local "King of Garden-Grabbing" - God knows how he has the cheek to show his face locally) showed a mate of mine a house this morning. OK location, but apparently a complete dog's breakfast, totally mucked about and way overpriced at £895K for a four bed mess.
But apparently there's "loads of interest" and he reckons they'll "hit the mark no problem..." So that'll be OK then - yeah right, dream on slimeball... I'll get the URL from my mate when I can and upload it when it's down to £750K
but from what he says it will still be massively over the odds then. Roll on minus 30% we all say....Tata for now. And keep smiling....
B
Must do myself a signature when I get round to it
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