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House prices - Brighton & Hove


Chortlepuss

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Doing a little bit of Internet browsing before I return. WTF is happening to house prices in my ex local city? It was never really cheap but now it's crazy land. Pretty average terraces going for £6 to £700k. Seriously, how many people with this amount of money are out there, or are lenders relaxing borrowing criteria? :arghh:

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So many people move down from london and can buy with all the capital they have made up there. It is soooo desirable now. Borrowing has relaxed....we can borrow 100k more than we could one year ago and prices have rocketed in the last few months....help to buy scheme doesnt help :swoon:

Doing a little bit of Internet browsing before I return. WTF is happening to house prices in my ex local city? It was never really cheap but now it's crazy land. Pretty average terraces going for £6 to £700k. Seriously, how many people with this amount of money are out there, or are lenders relaxing borrowing criteria? :arghh:
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Have a friend lived in Hove. Was in a small flat and could not afford the jump to insane silly prices for small house. Ended up moving well out of the town further inland to something she could afford. Far from her wanted/hoped for location. She didn't like it at all as wanted to be by the coast and ended up moving to the south west where she could afford to live in a coastal town. Downside is less money job wise but she lives not far from Quantocks, Exmoor and some stunning countryside and coastline.

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The whole of the south/southeast is spiralling out of control. Yes, parts are cheaper than Brighton, which has been taken over by the London crowd (and many who work in the city commute) A two bedroom flat above a shop in the town where we live in neighbouring Hampshire went for £250,000 last month. Yet my brother in law has his three bedroom terrace on the market in Lancs for £89,000....

 

My brother lives in Horsham, half an hour or so north of Brighton and the three bed detached he purchased in 2007 for £230k is now £330k.

 

Thus depends on your budget, but to answer your question - those who were on the property ladder prior to 2008 are riding on the crest of a wave, add in "foreign investment" and so on.

 

But for those post 2008, unless their parents can fund them they are looking at a very different future to that of their parents and even grandparents.

 

Anyway... I wont rant on :-/

Edited by SteveandKirsty
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18 months ago we had deperate threads on here of members unable to sell even knocking thousands off just to get buyers to look round, how it can change so quickly.

 

Very true, but, there are still two sides to the coin. We have had our place on the market for a year now with just two viewings. We purchased in June 2008 and by the time we moved in the September the place had dropped by £20k. It was valued last year at £15k less than we purchased, but we put it on for £5k less (probably the reason why we haven't had many look..) but whichever way you look at it we will have made little or nothing on the property (which we need to help fund our possible move to Oz) and so not everything in the garden is rosy.

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I always liked Brighton up to a fashion. Looked at housing back in 2010 there and found it already expensive. Add on the commute to London and the expense kicked in. Especially if not in some high paying financial or legal position.

 

As mentioned Worthing and Eastbourne, neither far in distance, but rather more so in tempo, are it appears still affordable if so desired. Shoreham, really part of Brighton not bad either. Used to fish from the groyne there as a kid and never been back. Wonder how it is fearing?

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Guest Guest 47403
Sack that off.

 

Plenty commute, same as from Hastings, Eastbourne even as far out as Portsmouth on a daily basis.

 

The South East is creating another bubble prices are gaining momentum far to fast again.

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Very true, but, there are still two sides to the coin. We have had our place on the market for a year now with just two viewings. We purchased in June 2008 and by the time we moved in the September the place had dropped by £20k. It was valued last year at £15k less than we purchased, but we put it on for £5k less (probably the reason why we haven't had many look..) but whichever way you look at it we will have made little or nothing on the property (which we need to help fund our possible move to Oz) and so not everything in the garden is rosy.
(2008) in years to come this will be a swear word for those who brought at this time.
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(2008) in years to come this will be a swear word for those who brought at this time.

 

Already is in our house! Add in the fact that we were locked into a 6.99% mortgage until last August. Ill advise all round and YET we are still getting such, had a (20-something year old) Lloyds Bank mortgage advisor talking total rubbish only last week.

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Already is in our house! Add in the fact that we were locked into a 6.99% mortgage until last August. Ill advise all round and YET we are still getting such, had a (20-something year old) Lloyds Bank mortgage advisor talking total rubbish only last week.

 

Ouch very ouch, we have been so lucky with the interest rate since the GFC ours has been 0.5% above the base rate all the way through and still is, going to hurt when we eventually buy in Oz.

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The Thameslink makes the commute quite easy, hence why everyone moved out a fair few years ago now. A lot of people come in daily from Brighton/hove.

How long does that take?

 

Ooops just read the post above about 50mins. Is that 50mins train journey and then the other bit getting to from train station at either end? Going to be a long day if it is.

Edited by Paul1Perth
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How long does that take?

 

Ooops just read the post above about 50mins. Is that 50mins train journey and then the other bit getting to from train station at either end? Going to be a long day if it is.

 

Yes, fairly sure that is what was meant. But, its standard stuff. When I commuted into London it was a 10 min drive to station, one hour train journey, tube all told 20 mins and then 5 min walk. Was a 12-14 hour day.

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Guest Guest 47403
How long does that take?

 

Ooops just read the post above about 50mins. Is that 50mins train journey and then the other bit getting to from train station at either end? Going to be a long day if it is.

 

A mate does Brighton to central London daily on a motorbike gives himself 2 hrs each way so yeah a long day.

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