Thought I would start the Bournemouth topic anyone noticing price drops

Hi buytoilet. I'm a newly registered contributor living in Poole. Semi retired academic with a taste for the real info on what's happening in the economy. Thought you might like to know that yesterday in Poole High Street I passed a very large vacant retail premises half way down the High Street on the right which now has builders at work inside and notices on every window as follows:

"Opening March 2008.

Call 01202 674777

www.kinghams.com

email: poole@kinghams.com.

Introductory selling fee of up to 50% off our Sole Agency Fees. Call now 67447 and speak to Mike Davies and Richard Grover"

Is this the ultimate statement of faith in the 'Spring Bounce'?.

Kinghams Estate Agency has two other branches locally

best wishes

juvenal

The Bournemouth Advertiser has quite a few estate agents ads with "New Price" splashed over them - doubt if it's an increase!

Have you noticed the advertiser is a lot slimer in contant with only the larger estat agents placing adds.

Spoke to an estate agent the other day, he said Goadsby have closed 3 branches with more to follow if the market does not pick up.

hi Juvenal welcome to the site can i ask what you did to find this place. Me I googled house price crash and there it was,but the site has changed a lot from the early days.

Hi - I'm not certain, but I may have seen a reference to HPC on Martin Lewis' moneysavingexpert site

I'm becoming a bit of an addict, and now looking at my own area with a bear's eye. I'm following the '15 EA's in one mile' in Ashley Road, Parkstone, Poole to see which goes belly up first, and watching house prices in my immediate Oakdale area. I've learned a lot already from the site.

With two sons aged 23 (twins), both postgraduates getting their first jobs and paying serious rent, I've woken up to the fact that their generation have been priced right out of the market, and potentially right into long term penury. Student debt plus absurdly inflated housing costs plus escalating cost of living seems a terrible way to start your working life.
I'm quite happy to take a 30% reduction/correction on the value of my own house in order to see a readjustment that will allow the new first time buyers a chance to get on the ladder.
Things have been crazy in housing for too long, and I've no sympathy with the BTL crowd when they eventually get burned. They exemplify the greedy individualism that's been the order of the day since Mrs Thatcher's time. Just a bit more fairness, and a bit less me! me! me!

Thanks for your reply welcoming me to the forum.

Checking 'Property Week' (The Bournemouth Poole and Christchurch edition) I can see a couple of dozen 'Price Reduced' in the first half of the paper, and a gratifying 'Make us an Offer' on one place, but the dominant impression is of the very large number of 'New Instruction' properties. Hoping for the spring bounce? Do we deduce a sell-fast-before-they-drop-further attitude? Hard to say at the moment.

I think most are waiting for the spring bounce, if they dont get it prices will go off a cliff. As people see the summer coming to and end, no offers on the table and winter around the corner they will have to cut.

Hi all, as a recent mover to rented accom. in the Bournemouth/Poole area (Branksome Park) am also now watching for evidence of decreases, mostly using the Property Bee plugin for Firefox. I have to agree that so far there seems to be only a small number of committed sellers reducing prices by 8 to 15% (and I also noticed that Mays reduced loads of their properties in one go although some were reduced by as little as £1!).

However there are lots more properties coming on that going off Rightmove and those properties that are selling will be in chains so I expect to see them 'unexpectedly reavailable' eventually. I agree that summer coming to an end will be when we start to see proper cuts.

I wonder if the flooding around Sandbanks yesterday will have done anything to make people nervous about living there!

Waterproof Rolexes and designer waders are the order of the day down on Sandbanks. Can you keep us posted on your Property Bee researches about price drops in our area? I'm watching the 15 EA's in Ahsley Road, Parkstone to see how many can survive current events. My area, Oakdale, Poole has virtually no buy/sell activity at present.

Regards

I just sold to rent in the last couple of weeks. I was offered a property last november that was on at 280,000 + for 250,000
located in Westbourne.

I can honestly say that i'm glad I did'nt buy it and look forward to more price decreases in the area.

Yup, certainly. Started monitoring on 1st Feb; since then the most notable things have been:
1. General lack of sales - things are going to Sold STC but a proportion are returning pretty quickly to Available - the rest just hang about;
2. Whilst it is not a flood, the stock is building up;
3. I would say there is more stuff coming on at the higher end (> £1million) than flats from BTLers, but that might just be indicative of the area?
4. A reasonable number of reductions (biggest has been £599,999 down to £500,000) but lots of non-movement. Just starting to see some props where there have been multiple reductions. I think when these are more common then we know things are getting interesting.