Salcombe Property Doldrums...

Interesting article in today's Telegraph (Friday 13th Feb) outlining that Salcombe's property market is dead.

3 properties sold in Salcombe between October and December 2008 totalling £500k compared to 15 in the same period last year totalling £8m!!!!! That's a staggering difference...the average house takes almost a year to sell...but, strangely enough the average house price decrease is only 10-15%...rents have risen c3% over the last year...

Will the media's predicted "holidaying at home" keep Salcombe busy or will it fail to materialise and force more second homeowners to drop their prices in order to sell quickly and take what profit is left?

Watch this space...