[Brighton] Housing market in Brighton

[Tom Hark Preston Park]

For younger viewers, there was a time in the early 80's when money was so much sloshing about that Brighton Council would give you an 85/95 percent (I forget which now) GRANT to replace the roof of your house. Single criteria being that your house was built pre-1918. Which was a HUMUNGOUS number of houses. Seems like another planet now

 

[Machiavelli]

So it appears the doom mongers were wrong again on house prices, they have a chance to redeem themselves and use Brexit as the next reason prices will fall [emoji23]

Care to point to a plethora of posts where "doom mongers" have been predicting a fall in property prices? Still it gave you the opportunity to fit something else into your post.

 

[Half Time Pies]

I think these days it the sellers who dictate the prices based in no small measure on what they have seen that they’d like to buy [emoji23]

Surely the estate agent still has a role in managing expectations otherwise even if they were to find a buyer at an inflated prices, and a mortgage was involved, it would be unlikely to pass the surveyors valuation.

 

[Skaville]

Thanks all. Much appreciated

 

[Chicken Run]

Care to point to a plethora of posts where "doom mongers" have been predicting a fall in property prices? Still it gave you the opportunity to fit something else into your post.

http://nortr3nixy.nimpr.uk/show...rty-prices-how-will-they-change-post-lockdown

 

[zefarelly]

Surely the estate agent still has a role in managing expectations otherwise even if they were to find a buyer at an inflated prices, and a mortgage was involved, it would be unlikely to pass the surveyors valuation.

What we have in Shoreham are two EA's that know their town, spoecific areas of it and generally pitch it right to sell . . . . All the others are chancers.

Back in 2003 I sold a 1 bed cottage with garage . . . . Fux n Sins suggested I'd get 165 . . . . Keith Harrison said definitely 150 and we'll stand firm. He got me a cash buyer in a week. He also got 15k off the house we still live in, and swerved stamp duty. He earned his commission and is a friend to this day.

 

[schmunk]

Keith Harrison said definitely 150 and we'll stand firm. He got me a cash buyer in a week. He also got 15k off the house we still live in, and swerved stamp duty. He earned his commission and is a friend to this day.

Did you give him Cuddles?

 

[highflyer]

Care to point to a plethora of posts where "doom mongers" have been predicting a fall in property prices? Still it gave you the opportunity to fit something else into your post.

I thought they would. And still do.

Obviously I don't know anything more than anyone else, and I am sure less than many. But I am certain of one thing and that is that the economics of this pandemic (and Brexit) is along long way from having fully played out yet. We are just at the beginning and many scenarios are possible..

 

[Farehamseagull]

Can’t comment on Brighton but the Southampton market is incredibly buoyant.

I’m a mortgage broker and the estate agents branch I work with had their record month in June in 20 years of being open. Obviously that was partly due to coming out of lockdown but July has carried on that way.

The demand from buyers and sellers is extremely high, the problem is the mortgage lenders though. Lack of 90% products, dramatic shortage of staff and those who are working are from home, backlog of applications and mortgage holidays along with much tighter criteria and credit checks are making life challenging for a lot of people trying to get a mortgage. This will be what holds the market back unless there is a major change in the national approach to Covid.

Certainly making my life stressful! Trying to talk to a human at most lenders is near on impossible these days.

 

[BNthree]

House on my road sold for £50K more than pre covid prices. They had 2 viewings and received 2 offers. Sold same day as it was officially on the market. Think there is a lot of folks looking to move out of London given there's going to be less need to be in the office all the time.

 

[Kuipers Supporters Club]

So it appears the doom mongers were wrong again on house prices, they have a chance to redeem themselves and use Brexit as the next reason prices will fall [emoji23]

Not the case near me outside Brighton.

Most properties have been on for over a month some haven't budged for over three months, asking prices already cut by at least 3%.

As a first time buyer this is very welcome news.

 

[zefarelly]

Not the case near me outside Brighton.

Most properties have been on for over a month some haven't budged for over three months, asking prices already cut by at least 3%.

As a first time buyer this is very welcome news.

Clearly a correction at the lower end is a good thing to help first time buyers, It's the middle ground where I see most activity . . . Families wanting more space to work/learn at home And perhaps older people downsizing sooner rather than later? Rural property I'd imagine will be at a premium .. . . Flats in cities less so ?

 

[Half Time Pies]

Can’t comment on Brighton but the Southampton market is incredibly buoyant.

I’m a mortgage broker and the estate agents branch I work with had their record month in June in 20 years of being open. Obviously that was partly due to coming out of lockdown but July has carried on that way.

The demand from buyers and sellers is extremely high, the problem is the mortgage lenders though. Lack of 90% products, dramatic shortage of staff and those who are working are from home, backlog of applications and mortgage holidays along with much tighter criteria and credit checks are making life challenging for a lot of people trying to get a mortgage. This will be what holds the market back unless there is a major change in the national approach to Covid.

Certainly making my life stressful! Trying to talk to a human at most lenders is near on impossible these days.

Speaking from my own experience I think its pent up demand from the market being paused for 3 months that is driving this interest. Like many others I was in the process of buying a property before lockdown which fell through, I then had 3 months of sitting at home looking at my 4 walls + right move and becoming more and more dissatisfied with my current situation, as soon as we came out of lockdown I then nearly brought the first house I saw!

Im now in this strange place psychologically of seeing the market move and becoming worried that somehow I am missing out and if I leave it too long then everything will be that much more expensive. The stamp duty drop has added to my anxiety and I could easily just jump in. However I am convinced that this wont last forever and that better deals will be had towards the end of the year when the initial hysteria dampens down and the harsh reality of job losses hits.

 

[Live by the sea]

Market's never going to go down for long round these parts thanks to Estate Agent Krapspeak. Fiveways used to be a hilly busy traffic junction with the world's least user-friendly Co-op, a chippy and a nasty pub for coked-up brickies. Now we're asked to believe in something called Fiveways Village. My manky flat used to be in Preston Park. Now apparently it's in something called Preston Park Golden Triangle FFS

I agree. Preston Park is a very average place to live. Overpriced because of a couple of good schools . Dull as ditchwater to live in though and very hilly . Has nice parks as a redeeming feature.

 

[Live by the sea]

Not the case near me outside Brighton.

Most properties have been on for over a month some haven't budged for over three months, asking prices already cut by at least 3%.

As a first time buyer this is very welcome news.

The bubble is in central Brighton and central Hove . Prices likely to reduce much more in the suburbs as the demand is less to live in those areas .

 

[Butch Willykins]

Shoreham is bonkers for family houses. Even the new builds on the river are shifting at £875K with postage stamp gardens.