Seventy % yes 70% of Salcombe's homes now belong to second home owners and you can often hear die hard Salcombe locals bemoaning this fact (who can blame them!?), however, it appears that this isn't a new trend...Salcombe has apparently been a second home haven since the Victorians first started to build their holiday retreats there. In a neat twist of fate it's these houses that are now Salcombe's most sought after with huge price tags attached.
Salcombe is in the top 4 and probably number 2 of the most sought after seaside venues to buy a second home or indeed a home. Sandbanks still eclipses Salcombe price wise, although Salcombe, for me anyway, makes Sandbanks look dull and over priced.
Amazingly one Salcombe estate agent said that he has, at any one time, 50 interested cash buyers with budgets in excess of £2 million(!!!!) just waiting for the right property.
It looks like Salcombe will be immune from the current property slump due to the majority of it's buyers being stonkingly rich! If nothing else it will be interesting to watch...and be assured I will let you know about anything interesting!!
Wednesday 14 May 2008
Salcombe Second Homes Not a Recent Phenomenon
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I don't think Salcombe is immune from the property slump!! Have a look at www.nethouseprices.co.uk.( figures are taken from the Land Registry)-18 properties sold in TQ8 in Jan,Feb,and March. In March alone only 3 sold! not enough to keep 3 Estate Agents in business which is why one has closed this Monday!. (this excludes the affordable new Housing Association properties at Ember Road).The properties on the Agents' websites stay there for 6 months plus,(and are then withdrawn by frustrated owners), and the Agents will all tell you the market is stone dead. Perhaps the 50 interested cash rich fat cats will now clean up - I don't think so!!! Its time everyone in Salcombe stopped obsessing about property prices and got a life. After all this country operates a free market economy, and this applies to Devon as elsewhere.Many of these second homes are let through local letting agents and besides the occupying holiday makers spending their cash when they are in Salcombe,the owners' rentals are ploughed back in to Salcombe builders,boatyards,SHDC, and other trade muggers. Salcombe is a tourist town now and we must stop living in the past. 00kevin (off for a lie down!)
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