Saturday, Nov 24, 2007
Proof if needed that 'executive' flats are tanking
Allsop: Residential Auctions
Check out Lot 353 (enter in online catalogue) at the forthcoming Allsop residential auction. It's a repossessed 2-bed flat in the Albert Dock (Liverpool) at a guide price of £235,000. Now check this houseprices.co.uk link. Sold in August 2004 for £295,000. Assuming they get the asking price, that's a 20% fall over the past 3 years. Many more examples in this auction. House prices can only go up Krusty ....... really?
Posted by uncle chris @ 07:13 PM (341 views) Add Comment
3 Comments
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1. Bigyin said...
Nice work uncle chris, you HAVE been busy... ;o)
2. daft boy said...
But how on earth did it go up by £130k from 2003 to 2004 ?
3. drewster said...
That's a crazy valuation, even at £235k. Admittedly those flats are in a nice location but most of the employment growth in Liverpool recently has been (a) construction industry and (b) government, and I can't see either of those sectors paying enough to afford a £235k flat. I'd expect further drops, not sure of the final value but that depends on the credit crunch.