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Watergate Bay, Cornwall - no sign of Credit Crunch there?

(7 Posts)
DocBunches Tue 21-Oct-08 09:57:41

www.thevillagewatergatebay.co.uk

My DP received an Email about these properties. For a laugh, he rang up.....

... prices range from 575-690K!!

Is it me, or are they ridiculously over-priced?

ps - hope the link works.

spooka Tue 21-Oct-08 10:01:24

Well only three have sold, so that might be an indication that second homes in cornwall have peaked for now.

Is ridiculous because you could get a quite nice normal house in good location (near sea) in conventional village town for less. And no cleaning/maintenance fees etc.

spooka Tue 21-Oct-08 10:02:03

And watergate bay not that nice - think probably quite a steep and longish walk back up to the houses.

DocBunches Tue 21-Oct-08 10:33:33

I was surprised that any had been sold! I would hope to get a lot more for well over half a million (even in upmarket Cornwall, and not that great an area, like you say Spooka).

WideWebWitch Tue 21-Oct-08 10:34:23

I thought these peopke had gone bust?
Must be thinking of someone else

lalalonglegs Tue 21-Oct-08 11:17:12

I was speaking to agent based in Cornwall yesterday (posh, national firm) and he said that average sale price in his office last year was £1.25 million shock. Even if prices halve that still means there are a lot of wealthy buyers out there...

spooka Tue 21-Oct-08 11:28:21

Savills?

Well the more local agents like Jackie Stanley and Camel estates seem to have a far greater variation in prices in the padstow/newquay area), but but but they do seem to almost have a bottom price of around £300k which is not like here (se London). Suppose there are fewer flats in the local area.

Property snake is interesting - there are houses that have been on the market for a year with very little reduction in price. Suppose that could be explained by them being holiday lets, no immediate necessity to sell, and perhaps having been bought at a premium.

I am interested to see what happens to some local businesses with property portfolios of more than 30 holiday lets (and expensive ones at that). I suppose they have a steady income from holiday-makers, but they must have borrowed a lot.

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