beans on toast

50 million for 94 apartments developer going bust?? http://www.primelocation.com/uk-property-f...1&skipreg=1 thats 500K for each apartment - you could get a nice 3 bed house for 300K in that area.

http://www.rightmove.co.uk/property-for-sa...n%26index%3D140 3 bed flat - 850K reduced from 950K been on the market for over a year

http://www.rightmove.co.uk/property-for-sa...p;sc_id=3058836 1 Million for a terrace with a 13ft patio garden. Some people are still living in cloud cuckoo land if they think that will sell.

You'll probably be paying higher insurance premiums for the lifetime of the property. Also, when you come to sell up, noone will touch it with a barge pole as its been underpinned.

I'm viewing properties this week with a view to buying at upcoming auctions this month. I am willing to bid upto -50% from the peak price recorded for similar properties.

Taxpers picking up the tab on all those mortgages is going to put us in debt for decades. Of course Gordon Brown will tell you how prudent he was in allowing the bubble to inflate so much.

Harman Healy auction : http://www.harman-healy.co.uk/Current-Auction.aspx I've attached a link to some analysis i've done by comparing the Sold prices to the last recorded LR data. The biggest falls i can see are lot 84 and lot 85, both houses sold in auction for 45K, the prev sold prices were 170K and 130K. Lot 10 interested me as it was in London(just) and it was sold for 190K, similar houses in the road were selling for 400K in 2008/2007- http://www.houseprices.co.uk/e.php?q=Grove...++SW19&n=10 see attached for more hh_jan29th_pub.htm hh_jan29th_pub.htm

Sold by mortgagee with wopping 350K loss. Sadly, given the bank bailouts, us taxpayers will probably have to pick up the tab for some greedy BTL landlords foray into property ownership. Thanks tommyboy.

six foot under

Looks like Altrex was a front for a fraud operation - "Persimmon sold apartments in one of its Thamesmead developments to a property developer, Atrex, at a deep discount. Atrex is then believed to have created false identities to borrow from lenders at inflated prices, and then pocketed the difference. In other cases, it is believed to have used “mortgage mules” – genuine people, but who had no connection with the properties in question. A&L has since ordered its surveyors to make more stringent checks amid fears that genuine buyers in new-build developments could be left stranded in negative equity with loans worth more than their properties because they have been forced to pay inflated prices for flats. " http://business.timesonline.co.uk/tol/busi...icle2283035.ece

W4 is one of the areas i've been monitoring and prices have dropped 15% or more from the peak. This is just a couple of examples, but houses on these roads were asking 800K 12 months ago. Now they cant shift them for 600K. 1) http://www.houseprices.co.uk/e.php?q=w4+ha...e+road&n=10 http://www.rightmove.co.uk/property-for-sa...0&minBeds=3 2) http://www.houseprices.co.uk/e.php?q=grove...ace+w4&n=10 http://www.rightmove.co.uk/property-for-sa...0&minBeds=3 W4 is definately not immune - why would it be!!

I know the area as well and although it does'nt look a home, its definately a good BTL.

Lot 69 sold for 226K. That looks like a bargain for such a substantial property. Previously sold in 2001 for 270K!! http://www.houseprices.co.uk/e.php?q=hange...+w5+32&n=10

down from 775K to 650K !! and its on with about 10 agents http://www.rightmove.co.uk/viewdetails-100...p;mam_disp=true

thx tommyboy its a total massacre and this is just the start

yup , but this year they will need a miracle to survive a collapse, given the state of the banks and a recession round the corner.

Docklands will be a desolate place in a few months time, once most of the banks based there have chopped their headcount.

http://www.marketwatch.com/ • J.P. Morgan reportedly mulls thousands of layoffs • Six top Goldman execs won't get bonuses | Bonus round (Minyanville) • Genworth to buy Minnesota bank, apply for federal rescue funds • HSBC to ax H.K. jobs | RBS cuts in offing? | Fidelity jobs on line • U.K. banks crushed in London | Global Markets What a way to start the week.

Looks like the auctioneers have set reasonable guide prices this time round. Most of the repos are selling at huge discounts, near the guide price. Most of the repos seem to be from the Halifax building society!!

Lot 776: 3 bed house Slough 3 Cannon Gate, Berkshire Prev: 21/11/2003 £224,995 http://www.houseprices.co.uk/e.php?q=3+Can...L2+5NH&n=10 Today sold at auction for 186K - loss of 17%

Lot 765: 1 bed flat http://www.auction.co.uk/residential/LotDe...amp;S=L&O=A Brentford Apartment 42, 2 Point Wharf Lane, Middlesex TW8 0EA Prev sale; 17/03/2004 £249,999 http://www.houseprices.co.uk/e.php?q=Apart...Lane%2C+TW8+0EA Today sold for 150K !!! thats 40% off

Lot 41 and Lot 97: Both flats in Fulham failed to sell. London is beginning to crumble.

BarryM - whats the rental yield in Notting Hill & SW5/SW7 ??

Last sold: 12/09/2005 £345,000 http://www.houseprices.co.uk/e.php?q=candlemakers+sw11+62 Thats a loss of 33%.

Lot 4 last sold for £293,000 on 29/07/2005. http://www.houseprices.co.uk/e.php?q=broug...sw6+36&n=10 Lot 1 : 1 12/09/2005 £345,000 Flat L No Map 112 Candlemakers Apartments, Flat 62, York Road, Wandsworth, London, Greater London, SW11 3RS Lot 1 is the West London equivalent of Thamesmead. Will be interested to see how much they lose on these