Sprogster Posted January 8, 2011 Share Posted January 8, 2011 Interesting article in the money section of the Financial Times today, stating that according to a survey more than half of the Britons who own holiday homes in the eurozone are expected to sell up in 2011, after being hit by falling rental income and currency volatility.Could this be the end of a place in the sun era?! Link to comment Share on other sites More sharing options...
woolybanana Posted January 8, 2011 Share Posted January 8, 2011 Cheap places to buy then, for Germans!! Link to comment Share on other sites More sharing options...
Théière Posted January 8, 2011 Share Posted January 8, 2011 [quote user="Sprogster"]Interesting article in the money section of the Financial Times today, stating that according to a survey more than half of the Britons who own holiday homes in the eurozone are expected to sell up in 2011, after being hit by falling rental income and currency volatility. Could this be the end of a place in the sun era?![/quote]Something to wrap your chips in tomorrow then.Quick straw poll, has anyone or anyone you know actually taken part in this survey? Apparently we must all have if an accurate 50%+ of us are selling up. As you also need DPE survey before you can advertise/market a property and the agents round us have no properties in their window as the DPE's haven't been carried out and the backlog will take 6 months to sort out I would not believe everything you read. Link to comment Share on other sites More sharing options...
Quillan Posted January 8, 2011 Share Posted January 8, 2011 Well the way things are going in my near vicinity I could be left all on my own with no other English around, not that I am worried. Mind you the problem seems to be loads for sale but no buyers. Link to comment Share on other sites More sharing options...
Frederick Posted January 9, 2011 Share Posted January 9, 2011 I have never heard of any such survey ...Where do they find these holiday home owners who take part in these things ?. There must be a lot of holiday home owner Brits who have never rented out their homes dont ever intend to Perhaps they look it like I do . When I spend the time I do in France each year the UK house is shut down .Gas electricity and water are metered and the weekly food bill is about the same . The French house is also metered and started up so what I am not spending on living in the UK is just transferred into spending on living in France in better weather and it works out fine . So that must make us other 50% who are not selling and dont care what the housing market in France is doing . Link to comment Share on other sites More sharing options...
pachapapa Posted January 9, 2011 Share Posted January 9, 2011 [quote user="Théière"][quote user="Sprogster"]Interesting article in the money section of the Financial Times today, stating that according to a survey more than half of the Britons who own holiday homes in the eurozone are expected to sell up in 2011, after being hit by falling rental income and currency volatility. Could this be the end of a place in the sun era?![/quote]Something to wrap your chips in tomorrow then.Quick straw poll, has anyone or anyone you know actually taken part in this survey? Apparently we must all have if an accurate 50%+ of us are selling up. As you also need DPE survey before you can advertise/market a property and the agents round us have no properties in their window as the DPE's haven't been carried out and the backlog will take 6 months to sort out I would not believe everything you read.[/quote]Not sure what you mean by 50%+ .....but it suggests you may have forgotten some of your Univariate Statistics; the size of the sample required to substantiate a prediction will depend on the variability of the population being considered.....a quick glance at an elementary Quality Control pamphlet will illustrate the principal with simple diagrams....that said the assistant storeman will not have to measure all the screws in the shed. Link to comment Share on other sites More sharing options...
Cendrillon Posted January 9, 2011 Share Posted January 9, 2011 "Could this be the end of a place in the sun era?!"Not for us it won't be. [:)] I agree with Frederic! Link to comment Share on other sites More sharing options...
Sprogster Posted January 9, 2011 Author Share Posted January 9, 2011 The reality is that in difficult economic times the first thing to go is a holiday home, as it is a luxury not a necessity.Apparently, those most likely to sell are those in their thirties and forties, who borrowed to finance the purchase and rely on a rental income stream to help defray the costs.The survey was conducted by a large UK FOREX company, who said most of their business was now converting euros back to £, for Brits selling up abroad.Not surprising really, as I am sure there are many people who over stretched themselves during the era of easy credit to chase their place in the sun.Also according to many real estate professionals most owners of holiday homes sell on average after seven years, having become bored with being tied to one place for their holidays. Link to comment Share on other sites More sharing options...
cooperlola Posted January 9, 2011 Share Posted January 9, 2011 Can you post a link, Sprogster, as I cannot find it? Or maybe it's not in the online version? Link to comment Share on other sites More sharing options...
Sprogster Posted January 9, 2011 Author Share Posted January 9, 2011 cooperlola, it is on the front page of the Money section supplement in yesterday's weekend FT. I don't subscribe to the FT online, so cannot see if there is a online link. Link to comment Share on other sites More sharing options...
cooperlola Posted January 9, 2011 Share Posted January 9, 2011 Thanks for looking anyway. I'll have another search. You do know you don't have to pay to "suscribe", btw, don't you? Link to comment Share on other sites More sharing options...
Théière Posted January 9, 2011 Share Posted January 9, 2011 [quote user="pachapapa"] Not sure what you mean by 50%+ .....but it suggests you may have forgotten some of your Univariate Statistics; the size of the sample required to substantiate a prediction will depend on the variability of the population being considered.....a quick glance at an elementary Quality Control pamphlet will illustrate the principal with simple diagrams....that said the assistant storeman will not have to measure all the screws in the shed.[/quote]I was being a pedant, read between the lines.........A small poll of people ultimately small who for numerous reasons maybe moving, doth not a real survey make so journalistic chip wrapper it is! Maybe better if they perforated it........[:-))]Extrapolating is not accurate....As I said, Have you or any one you know taken part in this survey? The same question has been asked on other French forums, still waiting for the first yes. Journalist's never let the facts get in the way of a story. Link to comment Share on other sites More sharing options...
cooperlola Posted January 9, 2011 Share Posted January 9, 2011 Here it is:http://www.ft.com/cms/s/2/09923922-1a8a-11e0-b100-00144feab49a,s01=1.html#axzz1AXhdIEV4if you don't subscribe then note it is free to do so (but I believe you can read a couple of articles without signing up anyway).I understand your scepticism, Teapot, but this is a more reputable rag than some! The survey itself only appears to report on the drop in occupancy rates of let property (if I read the article correctly) and that thus they are "considering selling" - the rest just seems to be speculation and conclusions drawn from the changing circumstances as far as I can see. Link to comment Share on other sites More sharing options...
pachapapa Posted January 9, 2011 Share Posted January 9, 2011 [quote user="cooperlola"]Here it is:http://www.ft.com/cms/s/2/09923922-1a8a-11e0-b100-00144feab49a,s01=1.html#axzz1AXhdIEV4if you don't subscribe then note it is free to do so (but I believe you can read a couple of articles without signing up anyway).I understand your scepticism, Teapot, but this is a more reputable rag than some! The survey itself only appears to report on the drop in occupancy rates of let property (if I read the article correctly) - the rest just seems to be speculation and conclusions drawn from the changing circumstances as far as I can see.[/quote]Yeah but afterr a period of time they cut you off and you cant resubscribe without changing your email address; a lot of bally hoo.Better to log on to the German FT site where there is none of such bullsh1te Link to comment Share on other sites More sharing options...
cooperlola Posted January 9, 2011 Share Posted January 9, 2011 I've "subscibed" for yonks and never had to change my e-mail address nor do anything else odd! I just go to their site and can read what I want when I want. 100% ballyhoo free when you've done it once. Link to comment Share on other sites More sharing options...
pachapapa Posted January 9, 2011 Share Posted January 9, 2011 [quote user="cooperlola"]I've "subscibed" for yonks and never had to change my e-mail address nor do anything else odd! I just go to their site and can read what I want when I want. 100% ballyhoo free when you've done it once. [/quote]Yes! I was aware that one could pay.[:D]PPP makes you feel generous or profligate?Register FREE now for increased accessIt's quick, easy and you'll be able to read up to 10 articles per 30 days.After 30 days Cendrillon turned into fat slag.[:$] Link to comment Share on other sites More sharing options...
Théière Posted January 9, 2011 Share Posted January 9, 2011 [quote user="cooperlola"]The survey itself only appears to report on the drop in occupancy rates of let property (if I read the article correctly) and that thus they are "considering selling" [/quote]At last a reasoned mind, thanks Coops. I wonder if the reported drop in occupancy may have anything to do with the mandatory registering of gites and therefore the taxation of income [Www] Link to comment Share on other sites More sharing options...
KathyF Posted January 9, 2011 Share Posted January 9, 2011 Interesting article, Sprogster, but rather ambiguous in places. The second paragraph reads: Research by Currencies. co.uk, a foreign exchange broker, has found that more than a third of homeowners who let out a property in the eurozone last year saw lower occupancy rates and rental incomes than they had expected – prompting 56 per cent to consider selling in the next 12 months. I take this to mean that 56% of the (more than a) third of homeowners who let their properties are considering selling, rather than 56% of all second-home owners - a more more believable proportion of a fifth to a sixth rather than over a half. Link to comment Share on other sites More sharing options...
Théière Posted January 9, 2011 Share Posted January 9, 2011 So in essence, of the few people who use currencies.co.uk (cannot ever remember them being mentioned on this forum) more than a third who let out property Europe wide, prompted 56% of those......Thus 34 out of 100 x 56% = 19.04 in 100 owners who use currencies.co.uk and who rent may consider selling up. What size is currencies.co.uk market share compared to the other Fx comapnies? How many return each year normally? Link to comment Share on other sites More sharing options...
Russethouse Posted January 9, 2011 Share Posted January 9, 2011 Isn't the bigger 'danger' the stance of a certain M O' Leary regarding employment of his staff in France ? Link to comment Share on other sites More sharing options...
Quillan Posted January 9, 2011 Share Posted January 9, 2011 [quote user="Théière"]So in essence, of the few people who use currencies.co.uk (cannot ever remember them being mentioned on this forum) more than a third who let out property Europe wide, prompted 56% of those......Thus 34 out of 100 x 56% = 19.04 in 100 owners who use currencies.co.uk and who rent may consider selling up. What size is currencies.co.uk market share compared to the other Fx comapnies? How many return each year normally?[/quote]That may be true but if you read the article carefully you will see that HiFX are also reporting the same trends. I also wonder what percentage of people who rent out their holiday home in France are members of this forum? I was talking to a chap from Montpelier yesterday at the rugby (they played USAP), he runs or owns an agency there and they are refusing to take anymore of these types of properties to sell because they have just too many on the books and it's pushing prices down. My BIL says it's the same down in Spain and whilst prices on agency websites look high the banks will take anything that pays off the mortgage on repossessions because Spanish banks are desperate for cash. I reckon that give it a year and you will be able to get some really good deals once people get really desperate. Link to comment Share on other sites More sharing options...
pachapapa Posted January 9, 2011 Share Posted January 9, 2011 I do hope BIL, with the Jag and you are right! I have had the carpetbag loaded and waiting since 2008...losing patience.[:'(] Link to comment Share on other sites More sharing options...
PaulT Posted January 10, 2011 Share Posted January 10, 2011 Watched an episode of 'Yex Prime Minister' over the weekend. Jim Hacker had the idea to re-introduce conscription which Sir Humphrey was against.Subsequently, Sir Humphrey was discussing with Bernard how to ask questions in a survey to get the public to either agree or disagree to the re-introduction. And yes, the two different ways of asking a number of questions and finally 'do you want conscription re-introduced' would provide a 'yes' for one and a 'no' the other.Just wondering if an FX company would want to put people in the frame of mind that they would not be alone and seen as a failure if they sold their foreign property.Paul Link to comment Share on other sites More sharing options...
Pickles Posted January 10, 2011 Share Posted January 10, 2011 [quote user="Russethouse"]Isn't the bigger 'danger' the stance of a certain M O' Leary regarding employment of his staff in France ?[/quote]I would doubt that. Ryanair will still fly to France: it is just that the aircraft and crews will be based elsewhere. Some of the routes formerly performed by Marseille-based aircraft will be flown instead by aircraft doing "W" pattern sectors ie Base-MRS-Destination-MRS-Base. However the frequency of flights would be likely to decrease.RegardsPickles Link to comment Share on other sites More sharing options...
Théière Posted January 10, 2011 Share Posted January 10, 2011 [quote user="PaulT"]Just wondering if an FX company would want to put people in the frame of mind that they would not be alone and seen as a failure if they sold their foreign property.Paul[/quote]Ah yes and who would stand to make the most from the increased movement of money? Keynesian economics............ Link to comment Share on other sites More sharing options...
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