Monday, Oct 27, 2008
Houses Sold at a Loss - Interative Map
FT: Locking in a Loss
One in 20 homes sold in August fetched less than it had the last time it was sold, an analysis for the Financial Times shows. The 5 per cent of owners nursing a loss when they sold their home has leapt up from only 1.4 per cent a year earlier.
This is how the downward spiral begins. If this rate accelerates then real price drops occur as sellers are forced to lower prices. These stats show us that the process has already begun.
Posted by andrew @ 01:54 PM (319 views) Add Comment
2 Comments
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1. Daniel said...
I do not belive these articles any more. I can prove, that one of the largest Estate Agencies in the North of England, is now sending out properties which they have priced at £210,000.00
To people who have an £80k Budget.
Some of these are repossesssions. I told the director that I have a budget of £80k, and would he send me houses that were priced for £80k in 2000.
He sends me properties that are presently priced at £210,000.00.
And he has told me that they would accept offers in the region of £80k.
Last one was a 3 bed new build town house. In a very very nice area. And frankly Ive been tempted. But Im waiting. In a year or two I should be able to get some real bargains. YiPEE! The crash is finally here!
I aint buying until they return to what they were priced at in 2000.
2. mark wadsworth said...
The accompanying article on Manchester flats is brilliant - one flat was bout £302k back in 2002 (6 years ago) and sold for £202k this year.