Nice Little Plot For Someone?
Posted 29 July 2014 - 01:33 PM
We went and had a look around, and it's a wooden shack in the most amazing location. Complete isolation with incredible views but also near a village with a great pub. What more could anyone ask for?
Well, it doesn't have any established right of access over privately owned farmland, no one has ever used it for anything other than a summer house so planning permission unlikely for anything residential and certainly not for anything bigger than the footprint, even if there was room for anything larger, no car access - the nearest place to park is in the village about a mile away - no services and you're not going to find it either to bring them in or be self sufficient as, despite what it says in the article, the garden is minute and on top of solid bedrock. Oh, and there's a whopping mine shaft right next to the hut.
We thought the £25K guide price was a come-on, and thought it might go for somewhere between 75K-100K - despite all the logistical problems it is in a unique location and you'd probably be able to do upmarket holiday lets. After a pleasant weekend of dreaming, we got real and carried on with the current daft dream. Good thing too. It went for £235,000. It will be interesting to see what happens to it over the coming years.
Posted 29 July 2014 - 01:59 PM
£25k is the auction guide price, so will have no relationship to what it sells for. Property agents could not value a house if it was made from pound coins!
Posted 29 July 2014 - 04:58 PM
I thought it might be a useful example to anyone here who sees a wreck being advertised with an inviting guideline price and thinks that's a likely ball park figure - we got caught out by that on the first property we went for, and I think a lot of people were caught out by it on our chapel judging by the pattern of the bidding. Mind you, going for nearly 10x the guideline is a pretty spectacular increase!
Posted 29 July 2014 - 07:08 PM
Sadly, this is probably true. Back in the early 90's house price crash, Cornish house prices plummeted lower than the rest of the country. For some reason, the latest crash didn't seem to have the same impact on Cornish house prices, and as average pay in Cornwall is pretty low, and certainly not at a level for many to afford to buy a house, the only logical reason has to be second homes, or people moving to Cornwall from up country with loads of money (in relative terms).
Posted 29 July 2014 - 07:13 PM
It's one of the reasons we prefer Pembrokeshire. Probably same number of cars (usually Mercs) with 'Kensington and Chelsea' parking stickers, but they don't seem so obvious as long as you stay out of the school holiday periods. Drives our Welsh friends mad.
Edited by joiner, 29 July 2014 - 07:14 PM.
Posted 29 July 2014 - 09:23 PM
Walk through Mousehole, Sennan, St. Agnes, Perranporth, Porthleven, and similar places and most of the holiday homes are owned buy a handful of Cornish holiday home companies.
There is a serious problem with low, and intermittent wages, but the median household wage is about £4000 below the national median, or about £20,000 on the average house, probably not so far from reality.
I think there is a bit of myth and romance at both ends of the country about Cornwall.
If we want truly affordable housing, stop paying silly money for it.
Posted 29 July 2014 - 09:53 PM
Posted 30 July 2014 - 05:51 AM
As I said, there seems to be some myth and romance, street reality is so very different.
One problem with minimum wage legislation is that is dragging down most wage rates, so now carers are earning similar money to bar staff. In some ways this is not a bad thing as we had over inflated some professions, and under valued others.
In economics we value super models and diamonds but not water, energy and food. Strange old world.
Posted 30 July 2014 - 07:03 AM
The land ownership issue, where there are indeed Cornish born and bred landlords that own almost entire villages, seemed to me to be largely historic ownership. My ex's family were typical, they had been mining adventurers in the 18th century, made a fair bit (and ended up with a family monument on top of Carn Brea) and so ended up owning fairly large lumps of the place. Those locals lucky enough to have inherited farms in nice spots have also been able to take advantage of the tourist trade by converting cottages and barns to holiday lets. I doubt there are many living and working in Cornwall today who can earn enough to start buying up cottages to let out. This may have been the case back in the 70's and 80's, when the mines were still working (and paying very good money indeed) and the fishing industry was booming, with rows of Warsaw Pact factory ships sitting just outside the 3 mile limit in Falmouth Bay, paying premium prices to the big purse seiners for mackerel, but pay seems to have levelled out downwards over the past twenty years or so, as the high paid jobs have pretty much disappeared.
Edited by jsharris, 30 July 2014 - 07:04 AM.
Posted 30 July 2014 - 09:53 AM
Here in St Ives investors pay silly prices for Downalong cottages, but to be honest, who wants to live in a poky 2 bed cottage with low ceilings, few windows and no outside space? It's OK for a week or two, but full time? Incomers - like us - can afford the Victorian/Edwardian terraces, whether to live or as second homes. The prices for these houses is about the same as upcountry, certainly comparable to Bath where we came from. The local market lives a bit further up the hill where prices haven't moved much since we came down 7 years ago. Lots of people let their houses out for just the summer weeks and head off somewhere less crowded for July and August - we've done it ourselves.
Most jobs available in the area seem to be in some way connected with tourism, and are often seasonal. Builders and tradespeople do well - all those cottages that need doing up, plus lots of flats are built aimed at rich. incomers/investors - but the young people who want to do something else with their career seem to go up country, then return in their 30s to settle. Or so my daughter (in her 20s, living in Penzance and working in a non-tourism related job) complains about the dearth of young professionals her age!
Posted 30 July 2014 - 10:30 AM
Posted 30 July 2014 - 04:27 PM
Posted 30 July 2014 - 04:47 PM
I used to drive their dive boat back in the late 70's, Dave. I only got as far as Third Class Diver and then pretty much gave up diving as the vis is lousy in Cornish waters and I preferred driving the boat. I still have my qualification record book though, came in handy on a holiday in Eqypt when I wanted to dive a reef off Sharm el-Sheikh on a day trip, as it meant I could skip the noddy PADI course and just go off and dive with hired kit.
Posted 30 July 2014 - 05:14 PM
Nic discovered that she had a hole in the heart when she surfaced showing all the signs of bends, despite coming up as per. Luckily there was a medical doc on board (member of the club) who diagnosed the problem and she was rushed to Portsmouth for decompression. A subsequent day procedure at Liverpool got the problem sorted.
But she wouldn't have known had she not dived. Apparently, one third of the population have a hole in the heart but never know it!
Posted 31 July 2014 - 07:47 AM
Cornwall College did a research project a few years back that showed that young people had stopped going 'upcountry', this was mainly down to the better higher education facilities down here now. The head of one department thought that if he could get people to visit the campus, then they would sign up for the course.
My experience down here is that it is not any different from other regions in the country. Over-inflated expectations on property prices and down-ward pressure on wages. There is also a different attitude to working here, less aspirational, which is a good thing.
One problem when looking at regional property prices is that sales volumes become important. Someone I know was desperate to buy in the town he worked in as prices were 'rocketing'.
I looked at the data on house sales for the sector he was looking at, and if I took out 1 house sale, it showed a decline in prices. The one (of 11) sales that year was a 'freak' house that sold for nearly 3 times the price of the others. Never trust an estate agent to give the full picture.
The only 'true' picture of property prices is the Land Registry, it shows what places actually sold for, rather that a jumble of indicators that other organisations use. These could be initial asking price, affordability index, rental value, mortgage as percentage of wage...
Going to be interesting what happens next year when base rates increase, the banks have already started to push the rate up. Not that it has had much relationship to base rates in for years.
One problem with Cornwall, is that it has received about £1.5b of EU funding, this created a lot of inefficiency i.e.Eden Project, Heartlands, community groups, interest groups, NfP grant based companies, with little benefit to the community. Thankfully that gravy train is coming to an end now, though there are still a lot of other regional grants available.
When I was a kid, we lived in the West Indies, just used to 'borrow' and aqualung, as it was called then, and go off diving. Never remembered anyone getting into difficulty. I can remember my sister snorkelling when I was diving, I was about 50 foot down, and all off a sudden she was in front of me making hand movement that lunch was ready. She became a swimming instructor, and recently had a really bad heart attack. Must be something in the water I think.
Water was very clear as it was a coral island, and I think it was one of the first, if not the first 'no take' zones in the world, rather killed off the trade in black coral. Happy days they were.
Nothing new in a re-breather, but probably cheaper and safer to swap tanks.
Glad Nic is OK, bet it was a scare though. I find it best not to exert oneself and never visit a medical doctor.
Was up there the other night trying to spot the meteor shower.
I always think when I am there that a large wind turbine, say a 5 MW one would look good. Not as if it would ruin the view and there is a couple of radio towers there, one so tall that it can be seen from most of Cornwall, loads of old pump houses, the remains of South Crofty (though they have tarted up the lift a bit). And anyway, Four Lanes is almost invisible because of fog most days.
Edited by SteamyTea, 31 July 2014 - 07:54 AM.
Posted 31 July 2014 - 10:33 AM
Posted 01 August 2014 - 12:21 PM
Posted 01 August 2014 - 03:44 PM
I would second that !! Having grown up and lived in a farming village and with a brother in the "business" we made very sure that when we bought our plot we also bought the field the plot was in, a portion of another field the new access driveway goes over and the edge of the next field required for the sight lines.
In all we purchased another 3.5 acres of agricultural land that we don't really need but as a hassle/risk reduction mechanism it's more than worth it.
It's not that I'm paranoid, like Sarah it's just personal experience