Property starting to move quickly down here now-prices on th

[jules]

I have been monitoring property sales here in Hastings over the past few years whilst we ponder the move. prices have been (relatively) stable for a long time, but all of a sudden there seems to be a definite sea-change in the market down here. Prices appear to be rocketing and anything decent is going under offer quickly. Has anyone else noticed this?

I don't think that Hastings is a 'best kept secret' anymore - the game is up! Typical! It doesn't bode well for the locals either, as the job market/salary gap doesn't seem to be improving at quite the same speed. I can see a mini London effect happening, where people cannot buy anything in the area where they work - the only thing is, the next commute is France!

Have any of you other 'lookers' noticed the hike?





The seas be ours and by the powers
Where we will_ _ _we'll roam

[roy]

Just rent ,problem solved.



Enjoy life.you never know when it will end.

[jules]

It isn't that much cheaper to rent- that appears to be picking up too - especially if you have to do it privately_ _ _



The seas be ours and by the powers
Where we will_ _ _we'll roam

[Herring_Gull]

You are right "anything decent" shifts quickly.

Even on the not so decent ones, say houses 4 bed houses over 4 floors, still go for an amazingly low price of GBP140k or more and do shift reasonably quickly.

[Richard]

well if you look at the rises in London recent years then they have to ripple out eventually.
don't buy a cheap property in a rotten area, however tempting, as you'll spend 10 years and more trying to bring it up to decent - unless you are a builder or a property speculator with an eye for the Market.
In fact don't buy a property that requires work without getting quotes from local builders or you may find you end up with a turkey in a dark alley_ _ _



Time flies like an arrow; fruit flies like a banana.

[drwatson]

I have kept an eye on it and it does seem like the houses are becoming more line with the rest of the South East. You cannot regenerate and improve an area and then expect it not to have an impact on property values.

I see this as a positive thing, people will invest in area financially and socially if they see house prices rising, We are miles away from the prices of London so there is absolutely nothing to worry about anytime soon.

[roy]

Can never understand the obsession with home ownership in this country,you look at the US and Germany and the rented sector is the biggest by far.
And of course the base rate isnt going to be this low forever,and then thousands will moan they cant afford the mortage when it rises lol you couldnt make it up.



Enjoy life.you never know when it will end.

[Mymblesdaughter]

Renting in other European countries is a different kettle of fish. The tenants have much more protection and the rents are capped.

Having rented and owned a property, I then rented again and absolutely hated it. There are crazy rules about not putting up pictures on walls, you can't have pets. Many of them don't even want children. You had to have the place inspected every 6 months. If you are renting you always feel like a second class citizen in this country.

There are good landlords out there and we had one who was lovely but many of them don't want to do work that's needed as it reduces their profits.

Do you rent a place Roy? I own my flat now and it feels completely different. It's such a shame we either need to bring in more rules to protect renters or build more houses to make it cheaper to buy.

[Richard]

And there is the renting in areas where the landlord/lady may live at the premises and be able to enter your room(s) at will (because naturally she has a key) and can be a royal pain in the neck if you do anything she dislikes.
If you are renting a room as a single person the owner may refuse to allow you having friends to stay unless you pay for a spare room in the house and sleep seperately.
I still remember my time as a student where the landlady refused to allow any lady-friends to visit at night and always locked the front door after 11:00 a.m.
So it is not all plain sailing, having said that, if you are renting and the Council Tax, and Service Charge are included then you may be onto a good thing for a while versus the cost of these plus a mortgage.
As Roy says interest rates could soon escalate.



Time flies like an arrow; fruit flies like a banana.

[drwatson]

Rightly or wrongly this country's economy is totally dependent on the building and selling of houses. I am sure we will hear something soon about 'managed growth' in the property sector from our new Canadian bank manager as he puts the rates up in 2014.

The outlook for people who rent their homes is good because cheap borrowing will fuel a boom in home ownership and a decline in people renting meaning landlords will have to be more competitive.

Home ownership works if everybody can buy their own home with affordable borrowing. Unfortunately we seem to penalise the less well off with expensive lending and furnish landlords with endless cheap borrowing. There should be a cap on how many properties one person can buy with low cost mortgages.