2 weeks ago
Monday, December 22, 2008
sussex housing madness
I thought this was for 'Beadle's About' when I first saw it. This ONE bedroom starter home, in pit of the world Littlehampton, is seriously being advertised at £250,000!!!! This is with £49,950 off!!
This really does underline how mad the housing market had become and why the fall is going to be massive. Whilst most commentators are forecasting 30-50% falls I reckon this is very optimistic. I expect around 70%, at which point even I might buy somewhere - though there'll be no guarantee prices will ever rise again.
And we have to remember that your quarter of a million quid starter home is particularly vulnerable to sea level rise and storm flooding on the Sussex coast - which makes it even less of a bargain!
This was the street where I grew up - Whitelea Road in Littlehampton. My sister still lives here, and the house between hers and the one I lived in is up for sale. She announced that it was up for sale for £135,000, we all laughed, assuming she was horrified at how unrealistic the price was. No, she thought it was CHEAP!! They have a lot of shocks coming down south.
Mum and Dad rented our place for £1.50 a week back in the 60s.