I'm thinking of buying a flat in Southampton at the ~300K level and there's some nice ones on the market. However why is the Southampton property so much cheaper than elsewhere on the south coast and why do I see a number of flats with recently reduced prices? I know Southampton is a working port but is it simply that or BTL people getting out of the market or inflation frightening people off property purchases or something else? Anyone got the gen on the Southampton property market?
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A *lot* of student accommodation was built there by Southampton Uni over the past several years and the private rented sector already had a lot of capacity. Then covid massively reduced demand for student accommodation and it probably hasn't fully returned. On some level, that is a separate market than other private rented accommodation, but it has an impact. There's also been a lot of development in Ocean Village in recent years (Moresby Tower etc.) so, again, excess capacity for flats in particular. Combine that with the interest rate outlook, taxation of BTL etc. and it looks a much riskier proposition than it has in the recent past. -
I live not a million miles away. Southampton is for the most part a tuliphole with added student accommodation. Bournemouth\Christchurch are much nicer.Originally posted by tazdevil View Post...my quagmire of greed....my cesspit of laziness and unfairness....all I am doing is sticking two fingers up at nurses, doctors and other hard working employed professionals...
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Southampton is cheap for a reason; it's a tuliphole as is Portsmouth.
Bournemouth has gone downhill but areas such a Westbourne and Sandbanks (Poole) are OK
Winchester City is about the best in the area. Outlaying areas are cheaper but not so desirable.
£300k is not going to buy you much."A people that elect corrupt politicians, imposters, thieves and traitors are not victims, but accomplices," George OrwellComment
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Are you economically active and looking at more than one? With recent changes in the laws personal BTL are dead, be sure to consider a Ltd. company SPV.Comment
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Is that personal experience? You can find crap reviews of almost every town in Sussex includig some near me but can't say it's my experience.Originally posted by Paddy View Post
https://www.sussexlive.co.uk/news/su...e-2022-6421800bloggoth
If everything isn't black and white, I say, 'Why the hell not?'
John Wayne (My guru, not to be confused with my beloved prophet Jeremy Clarkson)Comment
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Personal experience. BTW the crime rate in Southampton is appalling (regardless of official figures).Originally posted by xoggoth View Post"A people that elect corrupt politicians, imposters, thieves and traitors are not victims, but accomplices," George OrwellComment
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Sorry Xog there is only one redeeming feature about Crawley which isn't mentioned, but I am am talking about circa 2011, it was an absolute tuliphole, full-stop. But(t) on a Tuesday night it was the long haul Virgin Cabin crew change over night and they flooded into the few pubs available. Wednesday mornings always gave me the dilemma of 'one more time' or getting a few more hours in. I was glad when the contract ended, bloody exhausting and expensive!Originally posted by xoggoth View PostBut I discovered nothing else but depraved, excessive superstition. Pliny the youngerComment
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Mine is. I lived in Winchester for 10 years and closer to Southampton (but in a much more exclusive area) for another 10. Southampton - BTL OK, but not to live there oneself.Originally posted by xoggoth View Post...my quagmire of greed....my cesspit of laziness and unfairness....all I am doing is sticking two fingers up at nurses, doctors and other hard working employed professionals...
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I don't think I've ever been to Southampton.Comment
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