I would think that traditionally the coastal market is always ‘picked over’. In this turbulent market, you might expect more coastal inconsistencies than inland areas. There is probably an endemic psychology in coastal property owners, that somehow they are unaffected by the downturn. This in turn leads to unrealistic expectations of values, and distorts what is actually going on. I am far from being an expert like SD Realtor and others, but I find it difficult to believe that the contagion won’t ripple across from neighboring streets, postcodes, and cities. In fact, I expect that similar patterns of resistance were (are still) a feature of many inland areas. Talk of coastal properties still being snapped up, driving prices up may be true but probably in isolated instances, and not in sufficient quantities to predict the coming months with certainty.
