A bit of gloom and a glint of hope....
http://property.timesonline.co.uk/tol/life_and_style/property/buying_and_selling/article4074295.ece
http://www.telegraph.co.uk/property/main.jhtml?xml=/property/2008/05/13/pcornwall113.xml
Having talked to a number of agents volumes are clearly down - some saying that volumes are half of this time last year. Newquay seems to be bearing up OK but across the region generally sales are slow and sale prices are 10% under the asking price, with many properties falling through before exchange. There are alot of developers with spare stock on their hand, though the best developments in the best locations seem to be taking the downturn better than anything which doesn't stand out from the crowd.
Obviously this presents opportunities for those willing to take a bit of a risk as developers, and a number of resale owners, look willing to make significant reductions in expected asking prices.
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