"It's a buyer's market in Dordogne"

[Crevette]

http://www.thisfrenchlife.com/thisfrenchlife/2007/05/its_a_buyers_ma.html

"Estate agents around Sarlat told of older properties falling in price by around 15 per cent since the turn of the year, and how they had many homes still on their books.

One agent said that he had 300 properties that had been up for sale for more than a year and that potential buyers were checking online, before putting in bids well below the sales price."

It would also seem that British buyers are tightening their belts and are no longer willing to spend large amounts, while buyers are also looking to purchase new builds."

Last year the telegraph told people to put bids in of at least 20% below the listed prices. Perhaps interest rate increases are also affecting demand.

A few stats ;

Apparantly 1 in 20 homes in France go to foreign buyers and 40% of foreign buyers are Brits! (even higher in the South). It's no wonder that some regions, will suffer if there is a UK property meltdown or a global property meltdown.

-Rob-

[WJT]

Our agent in Sarlat told me this almost two years ago. I think it has been a buyers market for a while now, particularly around here. Unfortunately, we bought in the peak in summer 04 just a few months before it started to turn. I am very envious of buyers at the moment with all of the wonderful choice. When we were looking which included several years there was very little good property on the market.

[Bob T]

We also bought through our agent in Sarlat in the summer of '04. I don't know what the house is worth now, nor do I care. It was the house we wanted and we bought it to live in and not to sell, so it does not matter at all what it is worth.

[Suze01]

[quote user="Bob T"]I don't know what the house is worth now, nor do I care. It was the house we wanted and we bought it to live in and not to sell, so it does not matter at all what it is worth.

[/quote]

My sentiments exactly Bob.

[WJT]

My sentiments exactly as well and perhaps we are the lucky ones but sometimes people have to sell for one reason or another. However, even though we have no intention of selling, if the market was as it is now it certainly wouldn't have taken a few years of many disappointments. Buyers are in a very good position at the moment and I don't mean just for the lower prices but because they have such a choice.

I have just read yesterday's Sud Ouest newspaper (I didn't have a chance to read it yesterday) and there is an article on the same subject. They have interviewed several agents in Sarlat and they are saying they have hundreds of properties on the books and very few buyers. It certainly must be the case because normally agents will not admit to this publicly.

[Gastines]

The hardest thing when it comes to property buying in France is that "Comparisons" are virtually impossible. Areas vary so much, and in each area  with all the diferrent  styles /sizes/amenities  etc., it can only come down to a personal choice on what you think you want. Fortunately in this area prices seem to be still rising.building plots as well. It also appears that many UKers are selling up and returning to UK and I believe that as the agents are aware of this ,the vendor is liable to be made a lower offer. I think it is only human nature to try and get a good deal if you are buying and if you know that the seller is desperate to get out of France, it seems a low offer is normal.  With reference to the newspaper article, perhaps the writer wishes to buy in the Dordogne? Nothing like giving yourself a good start.

I hope those returning to UK aren't in for too many financial surprises I think if you left the UK 3-4 years ago it may pay to find out how much your outgoings would be. Considering the rises in Council tax/water/electricity/gas/petrol/car and home insurance and general shopping  Whilst agreeing that prices have also risen in France I do think the rate is much lower and hopefully President Sarkosy will keep it that way.

Regards..

 

[AnOther]

[quote user="Bob T"]I don't know what the house is worth now, nor do I care. It was the house we wanted and we bought it to live in and not to sell, so it does not matter at all what it is worth[/quote]Here here, we bought a house that we liked, suited our needs and was within our budget and whilst it would be nice to think it might, over time, appreciate in value at least to the extent of the light renovation it needs it really doesn't matter to us either way.

On a perhaps slightly controversial note, I wonder how much the "Dordogneshire" market is suffering simply from over population by Brits ?

[Bob T]

In our little town of 1500 or so people there are only 4 Brit families that I know of, I would hardly call it Dordogneshire.

I think that many Brits come to France and still have a little of the old country in them, where the value of your house is important, you would, in the UK, probably move every 3 or 4 years anyway. I came here two years ago ot the age of 46 to retire, and have not looked back since. I cannot see any reason why I should ever want to return to the UK on a permanant basis, and hope to spend the rest of my days motorbiking around France and Europe.

Our house is isolated and in the woods and both my wife and I love the solitude, the wildlife, and of course, our bikes. We could not have made this move if we had remained in our well paid jobs as civil servants in the UK.