General Discussion
This shows to me that most properties in Dawlish are very overpriced:
This 3 bedroom end terrace house is sold subject to contract for £125,000. I had been watching this one as I thought it was "cheap" compared to other properties:
http://www.rightmove.co.uk/property-for-sale/property-29746010.html
and this 1 bedroom slither of a house on the market for £127,000:
http://www.rightmove.co.uk/property-for-sale/property-22090330.html
There are also a lot of over-priced 1 bed flats that have been up for sale for a very long time.
This shows to me that people will buy property at the right price and that the value of a house is solely what someone is willing to pay for it. And when I say willing I don't mean "I would pay a million pounds for that penthouse apartment if I had the money", I mean "I have the money or I can raise the money and I will buy that apartment from you for that price".
I have a feeling that property prices are going to be heading south in the new year. It is probably best to reduce now for a quick sale.
Dawlish is low already compared to other areas. I would sell my 2 bed house for £125,000 (that is if somone actually would like to live in Dawlish and that is the problem!) if I could buy elsewhere for that price.. but you cant buy 'like for like' by the sea'.
I think a lot of people would like a house in Dawlish and it is not that people don't want to live in Dawlish but that they probably won't buy your house for £125K.
I suspect you may struggle to sell it for that, whereas if you put it on the market for, say, £95,000 you would get some interest and perhaps sell it straight away. Therefore, the true value of your house is somewhere between £95K and 125K since you may have been able to sell it easily for £105K or £115K.
Have a look at www.zoopla.co,uk and put Dawlish in the box or anywhere you fancy!
Steve anyone can sell for £95,000 as you suggest, then walk in any Estate Agent and say 'Id like a 2 bed house by the sea in Devon for that price'..can you imagine how daft that would be!. Try looking at Salcombe.
Where is Dave the Estate Agent when you need him??? lol.
G'day Wondering,
I'm in Oz, have a bit of a head this morning, I've been out with the Barmy Army celebrating after retaining the Ashes yesterday :) Barmy Army, Barmy Army....
I'm back in 2011 to my beloved Dawlish and fear the property values are sliding :( I got out of flogging houses a while ago, been travelling since. Dawlish is certainly not Salcombe, I know where I'd prefer to be... but not for £95k, I'll probably end up at the Warren in one of the caravans when I get back as I'm not cash rich right now. Anyone can sell a bargain; unless your downsizing then hold on tight, it's all a circle and prices will rise in the next few years.
Oh yes who's the new fellas on the forum giving it large...Andy Mac and Tony Williams?? Seems they are taking over from Fellover-699 and Druguser 4549 as they were bizarely known. Next we'll be hearing from Viaduct and Roy, the old timers are distant memories now....RIP my dear Forum Friends I do miss your carry on.
Got to go as my flight back to Yorkies Knob leaves in a couple of hours!!
Happy New Year to you Wondering, catch you in 2011.
Dave The Ex Estate Agent
In the year 2000 I had a very spacious one double bedroom, bathroom, kitchen/diner/lounge, large storage cupboard, flat for sale. The two estate agents both valued the property at around £35,000. I then said maybe I should wait for a property price increase and was told that the price of flats just held their value and would never exceed much above the original price.
That was before the property market when mad!!!!!!!!!
@wondering. houses are not selling at the moment according to the media statistics and bank of england and i believe it is partly because people do not have to sell and partly because they are reluctant to sell for less than what they have seen other similar properties sell for in the area.
But if you had no choice but to sell then we would be looking closer to the 95K figure rather than the 125K figure you would want for your house. Fortunately, the economic climate is such that not many are forced to sell. Even if people need to move for work they are choosing to become landlords rather than sell.
I think next year will be different though with austerity measures being imposed by the current coalition governmnent, redundancies and inevitable interest rate rises.
So Zoopla price values are totally wrong then?..they seem to match the thoughts of Estate Agents in town.