Local Market Still Positive
We continue to be fed bad news after bad news both on the country’s property market and the economy generally. Times are tough and people’s expectations have had to alter but property is still on the move, especially in Dartmouth town centre. Properties for sale on the outskirts of the town are achieving fewer viewings and offers. These properties are more likely to be permanent homes with potential buyers requiring finance or having to sell elsewhere in order to purchase. Mortgage lending is up month on month by about 2% but these figures are still way down on the long term average. Banks are still reluctant to lend to buyers who don’t have a 25% deposit, something that most young buyers are finding nigh on impossible without the help of their families.
The first public consultation with Millwood Homes took place this month on the proposed new development of circa 400 new homes on the outskirts of the town. I was away for the meeting but the next date is the 22nd November 2011. Talking to people living in Dartmouth there seems to be a worry how employment will be created for this huge influx of people to the town. I saw on the regional news recently that jobs were under threat at the Naval College again. I’ve been told that plans are afoot to help create jobs but I haven’t seen the detail yet. Another problem has to be the road network in and out of the town. The main route into Dartmouth is not fit for purpose now let alone with another 400 to 800 vehicles to contend with. These issues are I’m sure being dealt with. I shall ask the question at the next meeting on the 22nd.
So to sum up the local market could be a lot worse considering the turmoil around Europe and I retain a positive attitude towards the next 6 months.
First Published By November 2011 By The Dart
Richard Blake 01803 832288 www.richard-blake.co.uk/
