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Bankside

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Posts posted by Bankside

  1. 15 hours ago, Roman Roady said:

    from page 127

    another 75k off, so now its a total of a 28% reduction.

    Price Change History
    09/11/2021 Price changed from £1,400,000 to £1,325,000
    31/08/2021 Price changed from £1,495,000 to £1,400,000
    07/06/2021 Price changed from £1,600,000 to £1,495,000
    29/03/2021 Price changed from £1,700,000 to £1,600,000
    28/09/2020 Price changed from £1,850,000 to £1,700,000
    25/06/2020 Initial entry found: £1,850,000

    Sold 2011 for £1,100,000. That's not much of an uplift in 10 years. And it's still not sold.

  2. 2 hours ago, Roman Roady said:

    26% off of a 2 bed flat in Battersea...its in "Victorian Heights" which is a gated community and looks like its an old school building.

    https://www.rightmove.co.uk/properties/82233772#/?channel=RES_BUY

    image.png.3e0c4e883d29a9c0c5ef5450a3b749b8.png

    Price Change History
    17/06/2021 Price changed from £1,100,000 to £1,000,000
    14/12/2020 Price changed from £1,200,000 to £1,100,000
    25/08/2020 Price changed from £1,350,000 to £1,200,000
    16/07/2020 Initial entry found: £1,350,000

    I realise this isn't for many people but £550 PSF is way down on 2016 prices. It's getting close to good value. :)

    (I'd be concerned about the Service fee though!)

     

  3. On 22/05/2021 at 09:29, Pop321 said:

    Very interesting. £300k increase over 18 years whilst ‘not bad’ would put some other areas in London into perspective and bring them down with a bump.

    This thread shows some interesting ‘drops’ and this one shows interesting and slow ‘rise’ in London....all this in a ‘buoyant market’ and the pandemic economic repercussions haven’t even started yet. 

    I lived in this area for 10+ years and know this building. You would have been paying in well in of £1K per sq/ft back in 2015 so this one is really showing what's happening out there. This almost looks like good value.  (Ducks head!)

  4. 15 hours ago, GettingBored said:

    Update - February 13th 2021

    It's been a while since my last update but I've been quite busy behind the scenes working on Property Log and trying to keep it running. Usage is up massively and there has been a large influx of new users which is great (more about that below)!

    I've been writing lots of scripts to generate some stats and will publish these over the next few days/weeks. Now I have them it will be easy to run them on the first of the month and I will come here to update the thread.

    Anyway, without further ado here we have the Rightmove Average Initial Asking Price chart created using Property Log data: 

    rightmove_average_initial_asking_price_2

    As you can see, the average initial asking price peaked in May 2020 (£414,998) and as of last month (Jan 2021) the average has dropped to £363,281. That's a drop of 12.4%!

    I also want to say a massive thank you to those of you who donate (you know who you are), it's really appreciated and helps massively with the server costs. If anyone would like to contribute then please head over to the donation page on the website: https://www.propertylog.net/donate

    Just for transparency, for every 2000 users of the extension I get one donation. I have to upgrade one of the servers (again) in the next day or two because of an influx of new users (a video about Property Log got a lot of engagement on TikTok)!

    Thanks for the reminder and all the hard work. It's a great add-in that really helps. Donated.

     

  5. 20 minutes ago, Roman Roady said:

    34.5% off of a 2 bed apartment in W6 (Hammersmith/Fulham).

    The frequency of drops would indicate another drop soon. Note the spike of optimism in Aug 2020...this and some of the stock type photos leads me to think this might be a developer selling.

    https://www.rightmove.co.uk/properties/79697071#/

    Price Change History
    22/10/2020 Price Changed: £1,100,000 £850,000
    08/08/2020 Price Changed: £950,000 £1,100,000
    17/06/2020 Price Changed: £1,150,000 £950,000
    10/06/2020 Price Changed: £1,300,000 £1,150,000
    23/05/2020 Initial entry found.

    GUIDE PRICE OF £850,000-1,250,000. What on earth!

  6. On 17/09/2020 at 09:00, Pop321 said:

     

    Speak for yourselves.

    I am currently underwriting all opinions I have given to be changed to advice and looking forward to PPI type claims.

    People can’t be expected to ‘know’ things themselves...it’s always someone else’s fault.😉

     

    Obviously if the outcome is a good one then it's defintely going to be down to the savvy investor's skill and knowledge and no one is going to take that away from them!

    It would also be fully deserved as they "took the risk"!

  7. https://www.theguardian.com/business/2020/jun/17/nationwide-triples-minimum-deposit-for-uk-first-time-buyers

    Headline talks about First time buyers but in the text it states - Nationwide said the 15% minimum deposit would apply to all new house purchase, remortgage and first-time buyer applicants.

    This might be challenging for existing borrowers coming to the end of their fixed % period.

  8. I know nothing of the area Mike but it looks very nice on the sunny day the photos were taken!

     

    It's been on the market for a while with slow decreases in price.

    image.png.673f50546e35fec4db1ba4a4496d0c62.png

    It's not gone up too much in the last 16 years either

    image.png.5dcf8dbda22ee5464fbfdb1c0a304ea2.png

     

     

    image.png

  9. On 25/04/2020 at 21:40, Pop321 said:

    118 is a joy. 

    In 2015 with the clause 24 introduction I ventured on the 118 site to understand the issues and what I needed to do. 

    They likened clause 24 to the Holocaust (kid you not) and spoke of monthly mortgage payments of £45k and rent of £60k per month.....and they thought they knew what they were doing. They had no plan B, were clueless and entitled. 

    All the great arguments from the veterans on here explained about mad IO loans, barmy leveraging, trapped due to CGT already been borrowed against etc etc.

    So now I was informed but who was right? That was easy 118 were definitively wrong. 

    Rarely visit now....kept getting blocked out.

    I may visit again to enjoy some Covid comments. Don’t they understand the bailouts being received filter to LLs. Ie my tenants get 80% income and will pay what they can.....and I in turn will suck it up too. 

    The only people who financially benefit from this will be the MPs (With that yummy extra expense money because they have to work from home)...but that’s another thread??

    Enjoy 118.....adding the occasional comment is sometimes fun but be wary, they are never wrong and even if they lose everything it will be someone else’s fault.?

    Did you notice anyone's blood boil, literally? ;)

  10. 11 hours ago, pepto said:

    https://www.businessinsider.com.au/chinese-buyers-are-getting-ready-to-flock-back-into-australias-cheap-property-market-with-one-city-emerging-as-their-clear-favourite-2019-9

    Apparently the devalued AUD is making Australian houses 11% cheaper for Chinese investors and so they are going to flock back into the market. 

    I think that this is a bit hyperbolic...certainly in the business I work in I have seen Chinese companies really struggling to get cash out of the country.

    What this fails to mention is that the properties previously bought by Chinese investors have devalued by 11% (and rent too).

     

    Not such an attractive proposition.

  11. Buying off plan certainly didn't work out this time...

    https://www.zoopla.co.uk/new-homes/details/47944391

    £245,000 under the orginal contract price and still not sold

     

     

    This one is almost certainly going to go under 2013 purchase price

    https://www.zoopla.co.uk/for-sale/details/48409183

    23rd Feb 2019 £950,000 Price reduced by £40,000
    9th Jul 2018 £990,000 Price reduced by £109,950
    29th May 2018 £1,099,950 Price reduced by £50
    29th May 2018 £1,100,000 First listed
    27th Sep 2013 £950,000
  12. Here's another

     

    https://www.zoopla.co.uk/for-sale/details/48209195

     

    9th Apr 2019 £799,999 Price reduced by £50,001
    15th Feb 2019 £850,000 Price reduced by £49,999
    30th Aug 2018 £899,999 Price reduced by £100,000
    28th Aug 2018 £999,999 Price reduced by £150,001
    2nd Jul 2018 £1,150,000

     

     

    £1,400 sq/ft was kiteflying, now it's £1,000 and that would have worked two years ago but not any more.

    It looks ex rental - those voids much be hurting.

    But that nice man from Foxton's said I'd get it no problem!

     

  13. 53 minutes ago, simon2 said:

    I find that nice stuff that is priced nicely (ie at a step or two below the kiteflyers) often moves quite quickly.

    Ironically the kite-flying stuff does end up drifting down to lower levels, but then still doesn't sell. Perhaps people see it being on the market for so long and wonder if there is something wrong with it or if the sellers might be more fed up and accept lower offers.

    Here is an example:

    https://www.rightmove.co.uk/property-for-sale/property-74771141.html

    Had they started lower I reckon it might have gone but it smacks of desperation now. Even at the lower prices it's no real value.

    I agree. 

    The place I linked to above is now good value at £900 sq/ft especially when you include the outside space and parking. 

    (I know it’s not to everyone’s taste but it’s a very popular area)

    of they had put it on the market for that or for £1000 sq/ft back in 2016 they could have had a bidding war. 

    Still, The voids don’t appear to be biting yet!

  14. We've all seen some great kite flying so I thought I'd start a thread on those determined to be "not giving it away" and then constantly being behind the market.

    Here's a great example. In 2016 the market was still motoring along, and perhaps in previous times, it would have caught up and this place would have sold.

    But no... someone was being a bit too greedy, and needs to wake up a smell the coffee.

    2 Bed Penthouse - SE1

    Price history

    Sold prices provided by Land Registry

    2nd Mar 2018 £900,000 Price reduced by £50,000
    18th Jul 2017 £950,000 Price reduced by £45,000
    9th Feb 2017 £995,000 Price reduced by £55,000
    4th Nov 2016 £1,050,000 Price reduced by £100,000
    5th Oct 2016 £1,150,000

    Is anyone else seeing similar in their areas?

    Bankside

     

     

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