worried1 Posted October 1, 2016 Share Posted October 1, 2016 Over the past few days I have seen a couple of examples of prices that just bear no resemblance to all of the other madness that is going on. I posted this one on the local thread: http://www.rightmove.co.uk/property-for-sale/property-44634942.html I won't speculate on what it is really worth, but even with the bubble-on-bubble pricing that we are suffering at the moment, I can't see how this could ever be more than £850k. it is plain to see on the Rightmove advert that it sold for £565k two years ago, so surely any potential buyers would have to be more than a little bitter at handing over an extra £600k just because the house has been refurbished?! Foxtons strategy is perhaps to make that one look reasonably priced by asking the same amount for a house on a nearby council estate: http://www.rightmove.co.uk/property-for-sale/property-44634936.html At least that one is very big for buyers with a large family. The last example is stolen from the 'Overpriced S**thole' thread which I can't seem to reply to: http://www.rightmove.co.uk/property-for-sale/property-55734001.html?utm_medium=shorturl&utm_campaign=smspropertydetails&utm_source=url This one really defies belief. The last sale of a similar house on this road was 5 months ago for £515k, so how could this one suddenly be worth double that? The only house that has sold for more than £515k was extended and refurbished. I think that this must be a p*sstake advert, given that it states that the £1m asking price is 'realistic'! Has anyone else seen examples of prices 30-40% above a market which is already way out of touch with reality? Quote Link to comment Share on other sites More sharing options...
MattW Posted October 1, 2016 Share Posted October 1, 2016 35 minutes ago, worried1 said: The last example is stolen from the 'Overpriced S**thole' thread which I can't seem to reply to: http://www.rightmove.co.uk/property-for-sale/property-55734001.html?utm_medium=shorturl&utm_campaign=smspropertydetails&utm_source=url This one really defies belief. The last sale of a similar house on this road was 5 months ago for £515k, so how could this one suddenly be worth double that? The only house that has sold for more than £515k was extended and refurbished. I think that this must be a p*sstake advert, given that it states that the £1m asking price is 'realistic'! Oh yes I posted a sarky comment about it being 'realistically priced'. Really, £1m for a bog standard 1930s/40s semi? Jesus wept. In my area I am seeing reductions of some leasehold flats which is good. Now that the 'Help To Buy Debt' props are now drying up some sense will return to the housing market over the next 6 months. Quote Link to comment Share on other sites More sharing options...
Arpeggio Posted October 2, 2016 Share Posted October 2, 2016 On 01/10/2016 at 4:11 PM, worried1 said: The last example is stolen from the 'Overpriced S**thole' thread which I can't seem to reply to: http://www.rightmove.co.uk/property-for-sale/property-55734001.html?utm_medium=shorturl&utm_campaign=smspropertydetails&utm_source=url If you stare at the top right window, then peripheral vision makes the blue sheet to the left of the car look like a chav in a blue shell suit kneeling down trying to nick it. Quote Link to comment Share on other sites More sharing options...
hp72 Posted October 3, 2016 Share Posted October 3, 2016 On 01/10/2016 at 4:11 PM, worried1 said: a house on a nearby council estate: http://www.rightmove.co.uk/property-for-sale/property-44634936.html At least that one is very big for buyers with a large family. There's a lot of double measuring in that floorplan; look at the kitchen diner area, measured into all extremes, then other rooms also measured that overlap. Misleading. Full EPC report will show a more honest measurement, but all to often "not available', just the bar chart bit. Quote Link to comment Share on other sites More sharing options...
Guest Posted October 4, 2016 Share Posted October 4, 2016 " Early viewing is highly recommended due to the property being realistically priced". So what does that make the rest of their listings!?!? Quote Link to comment Share on other sites More sharing options...
london_thirtythree Posted October 4, 2016 Share Posted October 4, 2016 Down London-way, I've been seeing quite a few kite-flying listings appear in the last few weeks. Is a bit surprising as July/August saw London Zone 2 or 3 places being reduced and selling well under asking. My guesstimate was that it had taken a 10% hit. Think it is one of two things - September is prime selling time for agents (where August is dead) and the economy is not tanking as expected post-Brexit. (outside of sterling) Whether this is justified is anyone's guess - there is still alot of places having to drop in price or simply not selling, so looks like transactions are still low, but some places I had my eye have sold, so think some agents are trying it on in September to see if the market has or is recovering. Quote Link to comment Share on other sites More sharing options...
Byron Posted October 4, 2016 Share Posted October 4, 2016 Just wish EAs would learn English 'Due to' does not mean 'because'. It means 'about to' Quote Link to comment Share on other sites More sharing options...
bearishonhouses Posted October 6, 2016 Share Posted October 6, 2016 I would say this was 30% overpriced when it was sold 6 months ago; http://www.rightmove.co.uk/house-prices/detailMatching.html?prop=56536145&sale=75154116&country=england now it is back on at only 20% more than it sold for in February: http://www.rightmove.co.uk/property-for-sale/property-62243690.html *********** predicting the crash since 2004 Quote Link to comment Share on other sites More sharing options...
Nabby81 Posted October 6, 2016 Share Posted October 6, 2016 Seeing this myself in Luton but like the last post there is this weird situation where people who brought recently are ones asking for insane jumps in price Quote Link to comment Share on other sites More sharing options...
assetrichcashpoor Posted October 8, 2016 Share Posted October 8, 2016 This one has been on the market for 6 months near us. The going rate for them is ~£400,000 but they want twice as much. There are a lot of similar houses nearby which are not selling quickly even when sensibly priced. This one is worse than most being on a busy road which can be a nightmare to get on or off the drive. http://www.rightmove.co.uk/property-for-sale/property-58562999.html Quote Link to comment Share on other sites More sharing options...
Arpeggio Posted October 8, 2016 Share Posted October 8, 2016 For comparison in Germany, with current EU price converted to £: £146k http://www.rightmove.co.uk/overseas-property/property-61870616.html £152k http://www.rightmove.co.uk/overseas-property/property-37984797.html Interesting views (particularly shot 25) There was another place I noticed for £180k that would be "worth" a million in the UK, but that sold. Quote Link to comment Share on other sites More sharing options...
renting til I die Posted October 9, 2016 Share Posted October 9, 2016 Wow, that just shows how silly UK prices still are, even after a huge drop in the value of the pound! Quote Link to comment Share on other sites More sharing options...
nome Posted October 9, 2016 Share Posted October 9, 2016 And I thought Germany was being reported as being in midst of a property bubble!! Quote Link to comment Share on other sites More sharing options...
nome Posted October 9, 2016 Share Posted October 9, 2016 I'd have to say in my areas of interest I'm NOT seeing kite flying... the market is just completely and utterly dead with no new instructions coming on at all for months now, just the same few properties that keep getting churned, withdrawn and re listed. It seems like people just aren't interested in selling at ANY price at the moment. I think I'd almost welcome seeing a few kiteflyers coming on to my local market just to give me some hope that people do at least want to consider seling their houses! Quote Link to comment Share on other sites More sharing options...
“Nasty Piece of work” Posted October 12, 2016 Share Posted October 12, 2016 On 02/10/2016 at 6:22 PM, Arpeggio said:If you stare at the top right window, then peripheral vision makes the blue sheet to the left of the car look like a chav in a blue shell suit kneeling down trying to nick it. How the feck did you find this out? Quote Link to comment Share on other sites More sharing options...
Arpeggio Posted October 13, 2016 Share Posted October 13, 2016 23 hours ago, Sajid the Taxmeister said: How the feck did you find this out? Find what out sorry? Quote Link to comment Share on other sites More sharing options...
“Nasty Piece of work” Posted October 15, 2016 Share Posted October 15, 2016 On 02/10/2016 at 6:22 PM, Arpeggio said: If you stare at the top right window, then peripheral vision makes the blue sheet to the left of the car look like a chav in a blue shell suit kneeling down trying to nick it. This, requires certain dedication. Quote Link to comment Share on other sites More sharing options...
Si1 Posted October 29, 2016 Share Posted October 29, 2016 Kite flying in a repainted terrace in a Leeds estate Quarter of a mill http://www.whitegates.co.uk/property/for-sale/276833 Quote Link to comment Share on other sites More sharing options...
Will! Posted November 5, 2016 Share Posted November 5, 2016 In Cambridge and West Sussex I'm seeing "investment" properties being marketed with asking prices around 30% greater than the prices paid two to three years ago. With these asking prices the gross yield on these investments would be less than 5%. I think these are BTLers selling because of the impending tax changes. Quote Link to comment Share on other sites More sharing options...
Bonkers2016 Posted November 5, 2016 Share Posted November 5, 2016 On 10/8/2016 at 9:54 PM, Arpeggio said: For comparison in Germany, with current EU price converted to £: £152k http://www.rightmove.co.uk/overseas-property/property-37984797.html Interesting views (particularly shot 25) I wish I didn't see that view!!! It makes me so angry that we don't get value for money in the UK, its so beautiful compared to what I can get here for the same amount. Quote Link to comment Share on other sites More sharing options...
Arpeggio Posted November 5, 2016 Share Posted November 5, 2016 (edited) 2 hours ago, Bonkers2016 said: I wish I didn't see that view!!! It makes me so angry that we don't get value for money in the UK, its so beautiful compared to what I can get here for the same amount. Too True. It puts it into perspective though and makes you realize it is best avoided, DON'T BOTHER. There was another epic place I saw in Germany for £170k, better than the one I linked but it sold and is offline now. Similar in the US I think. From what I've seen of the series "My Dream Home" you can get a lot more for your money there. Edited November 5, 2016 by Arpeggio Quote Link to comment Share on other sites More sharing options...
GreenDevil Posted November 5, 2016 Share Posted November 5, 2016 (edited) On 10/9/2016 at 5:56 AM, Nickos said: Edited November 5, 2016 by GreenDevil Quote Link to comment Share on other sites More sharing options...
electrogear Posted November 8, 2016 Share Posted November 8, 2016 http://www.rightmove.co.uk/property-for-sale/property-56365129.html Went to view this last year. Although we thought it was pricey for the area we went to see it as the garden and rooms look massive in the photos (turned out to be a nice bit of extreme wide angle photography & photo editing). The garage was converted into a through-office which led to a toilet and utility, but the office wasn't big enough for a desk and chair whilst allowing access through, (terrible design) and the garage conversion was half baked, leaving the garage door on the outside! The property was removed from the market in Feb/March and we thought some idiot had bought it, but apparently not as it went back on the market again in October 9much to our delight). 2 months in and it hasn't shifted yet. By my reckoning (and similar asking prices) it's priced 25-30K above comparable properties that aren't selling either. My guess would be actual (pre-crash) value of 230K, but given that the last sale of 170K was during the ramping prices of 2006, it's got a long way to fall! Quote Link to comment Share on other sites More sharing options...
MattW Posted December 13, 2016 Share Posted December 13, 2016 This 1 bedroomed flat is rather 'kite flying': 1 bedroom ex-LA flat in NR3 . Asking price of £129,950. Quite handy for the decaying 1960s Anglia Shopping Centre. Has no business being over £80k in my opinion. No internal photos either. Quote Link to comment Share on other sites More sharing options...
GreenDevil Posted December 17, 2016 Share Posted December 17, 2016 Little anecdote here. Over he last few months the market locally has been pretty dead. Somne extreme kite flying, nothing shifting. Recently though a couple of fixers came on (family homes) with EAs. Decent places needed a renovation but no major issues (ie small garden\plot etc. These have sold within days with multiple offers with best and final offers with both requested from EAs. I've bid on both, one at asking, one below, both have gone at 'well above asking' according to Eas. To me they weren't cheap, according to LR similar sold at a similar prices 12-24 months ago. This says there are still lots and lots of buyers out there, but they cannot afford the EKF prices of most instructions. However thery asre still prepared to pay the price paid 12 months ago, even if it needs 25k of repairs... Quote Link to comment Share on other sites More sharing options...
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