Looky here...

Date Event
22nd Jun 2008 * Price changed: from '£195,000' to 'Guide Price £150,000'

19th Jun 2008 * Price changed: from '£219,950' to '£195,000'

30th May 2008 * Initial entry found.

That's a 31.8% drop, certainly unusual for the area but a sign of things to come

Keep the faith

Frank

it says ideal investment opportunity? Any idea what this would rent for? Interesting to calculate the yield.

£700 - £850 per month would be the range for this area.

Yep, just had a quick look on Rightmove.... there seem to be a lot available for rent too... so, open to negotiation.

We are in the early days of the crash still, I wonder what they'll be going for this time next year or even xmas 2008....

Reading is SO over priced

Frank

Reading will get hit again for some big drops again in July/August as the summer sales season comes to a close and people dish off on their summer holidays. There also seems to be another wave of price falls travelling out from London and like the other home counties Berkshire will feel these. I guess with Reading there is quite a mix of property. Some very grotty ex Council, grotty town centre terraces, new luxury apartments and the very nice villages around it. I reckon as the OP shows that some of these older properties are going to get massacred, especially with BTL selling up. The out areas will take a bit longer to realise, but the effect will be similar.

And there's more....

24th Jul 2008 * Price changed: from '£195,000' to '£185,000'
7th Jul 2008 * Price changed: from 'Guide Price £150,000' to '£195,000' [Found by conrad]
22nd Jun 2008 * Price changed: from '£195,000' to 'Guide Price £150,000'
19th Jun 2008 * Price changed: from '£219,950' to '£195,000'
22nd May 2008 * Initial entry found. [Found by readingrabbit]

I think we all see this sort of price chopping/changing with Property Bee. Now down £35Kish.

Still not a lot of movement really, my old area of Woodley is still in denial albeit a few are now dropping or coming onto the market at 'sensible' prices.

Frank

3 bed semi in decent area of Three Mile Cross:

5th Sep 2008 * Price changed: from '£270,000' to '£224,950'
8th Jul 2008 * Price changed: from '£279,950' to '£270,000'
4th Jun 2008 * Initial entry found.

Its not looking pretty for reading and worse is surely yet to come

http://www.home.co.uk/guides/house_prices_...&lastyear=1

and some realy need to sell by the look of the price reductions:

http://www.home.co.uk/search/price_info.ht...perty=437705752

It was way overpriced to begin with, and still overpriced now. I know someone who put an offer of £75k in for one similar to that. They didn't get it as someone else put in an offer of £77k.

If you look at yesterday's auction results
http://www.auction.co.uk/residential/LotDe...amp;S=L&O=A
Lot 198 went for £100k. It is a bit bigger than this one.

Even as late as 1998 you could pick up one of these for £60K. No garage, very difficult to park, heavily ethnic area.