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PerfectStorm

Redhill - Example Of Prices Back To 2002

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Been watching this road because all the houses are exactly the same, 1970's terraced, with very small sloping gardens to the rear offering no scope for extensions. Therefore, they should be reasonably comparable:

09/04/2009 £197,500 Ter. F No Map 28, Furze Close, Redhill, Surrey, RH1 1DN

28/09/2007 £265,000 Ter. F No Map 36, Furze Close, Redhill, Surrey, RH1 1DN

29/08/2007 £267,000 Ter. F No Map 4, Furze Close, Redhill, Surrey, RH1 1DN

30/05/2007 £250,000 Ter. F No Map 10, Furze Close, Redhill, Surrey, RH1 1DN

30/06/2006 £245,000 Ter. F No Map 42, Furze Close, Redhill, Surrey, RH1 1DN

03/03/2006 £225,000 Ter. F No Map 12, Furze Close, Redhill, Surrey, RH1 1DN

14/12/2004 £245,000 Ter. F No Map 42, Furze Close, Redhill, Surrey, RH1 1DN

16/07/2004 £240,000 Ter. F No Map 18, Furze Close, Redhill, Surrey, RH1 1DN

11/06/2004 £230,000 Ter. F No Map 20, Furze Close, Redhill, Surrey, RH1 1DN

16/01/2004 £239,000 Ter. F No Map 31, Furze Close, Redhill, Surrey, RH1 1DN

24/10/2003 £228,000 Ter. F No Map 30, Furze Close, Redhill, Surrey, RH1 1DN

29/08/2003 £230,000 Ter. F No Map 6, Furze Close, Redhill, Surrey, RH1 1DN

23/05/2003 £221,000 Ter. F No Map 10, Furze Close, Redhill, Surrey, RH1 1DN

16/12/2002 £207,000 Ter. F No Map 18, Furze Close, Redhill, Surrey, RH1 1DN

26/01/2002 £180,000 Ter. F No Map 26, Furze Close, Redhill, Surrey, RH1 1DN

16/03/2001 £164,500 Ter. F No Map 18, Furze Close, Redhill, Surrey, RH1 1DN

19/01/2001 £163,950 Ter. F No Map 20, Furze Close, Redhill, Surrey, RH1 1DN

20/12/2000 £159,000 Ter. F No Map 31, Furze Close, Redhill, Surrey, RH1 1DN

15/12/2000 £165,000 Ter. F No Map 42, Furze Close, Redhill, Surrey, RH1 1DN

24/08/2000 £169,000 Ter. F No Map 22, Furze Close, Redhill, Surrey, RH1 1DN

16/06/2000 £156,000 Ter. F No Map 10, Furze Close, Redhill, Surrey, RH1 1DN

As you can see the latest to sell in April this year is down at a price level not seen since 2002.

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I would think condition plays a massiv epart as well. We have bought a few houses in the area and recently picked up a house for 215k in v poor condition in a street where similar properties have gone for 280k this year. It's relative. I have seen some drops in prices in Merstham, but not the detached properties whose prices are still holding up from perusing estate agents in the area. One detached property has been valued at between 375k and 320 and now has been valued at 345. But I have seen a drop in price in one street for a 3 bed terrace from £225 to 199,950 so there have been falls, but I think it's all stabilising now.

I think the market, in this area, has levelled.

Been watching this road because all the houses are exactly the same, 1970's terraced, with very small sloping gardens to the rear offering no scope for extensions. Therefore, they should be reasonably comparable:

09/04/2009 £197,500 Ter. F No Map 28, Furze Close, Redhill, Surrey, RH1 1DN

28/09/2007 £265,000 Ter. F No Map 36, Furze Close, Redhill, Surrey, RH1 1DN

29/08/2007 £267,000 Ter. F No Map 4, Furze Close, Redhill, Surrey, RH1 1DN

30/05/2007 £250,000 Ter. F No Map 10, Furze Close, Redhill, Surrey, RH1 1DN

30/06/2006 £245,000 Ter. F No Map 42, Furze Close, Redhill, Surrey, RH1 1DN

03/03/2006 £225,000 Ter. F No Map 12, Furze Close, Redhill, Surrey, RH1 1DN

14/12/2004 £245,000 Ter. F No Map 42, Furze Close, Redhill, Surrey, RH1 1DN

16/07/2004 £240,000 Ter. F No Map 18, Furze Close, Redhill, Surrey, RH1 1DN

11/06/2004 £230,000 Ter. F No Map 20, Furze Close, Redhill, Surrey, RH1 1DN

16/01/2004 £239,000 Ter. F No Map 31, Furze Close, Redhill, Surrey, RH1 1DN

24/10/2003 £228,000 Ter. F No Map 30, Furze Close, Redhill, Surrey, RH1 1DN

29/08/2003 £230,000 Ter. F No Map 6, Furze Close, Redhill, Surrey, RH1 1DN

23/05/2003 £221,000 Ter. F No Map 10, Furze Close, Redhill, Surrey, RH1 1DN

16/12/2002 £207,000 Ter. F No Map 18, Furze Close, Redhill, Surrey, RH1 1DN

26/01/2002 £180,000 Ter. F No Map 26, Furze Close, Redhill, Surrey, RH1 1DN

16/03/2001 £164,500 Ter. F No Map 18, Furze Close, Redhill, Surrey, RH1 1DN

19/01/2001 £163,950 Ter. F No Map 20, Furze Close, Redhill, Surrey, RH1 1DN

20/12/2000 £159,000 Ter. F No Map 31, Furze Close, Redhill, Surrey, RH1 1DN

15/12/2000 £165,000 Ter. F No Map 42, Furze Close, Redhill, Surrey, RH1 1DN

24/08/2000 £169,000 Ter. F No Map 22, Furze Close, Redhill, Surrey, RH1 1DN

16/06/2000 £156,000 Ter. F No Map 10, Furze Close, Redhill, Surrey, RH1 1DN

As you can see the latest to sell in April this year is down at a price level not seen since 2002.

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Yes Hairy, I take your point on the condition, but I remember seeing this one on Rightmove and the 1970's kitchen and bathroom had all been replaced, it definitely wasn't a wreak. If you look at the price history on this road prices don't deviate from the trend much. So I think this is confirmation of how prices have collapsed in Redhill for bog standard properties

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Guest UK Debt Slave
Yes Hairy, I take your point on the condition, but I remember seeing this one on Rightmove and the 1970's kitchen and bathroom had all been replaced, it definitely wasn't a wreak. If you look at the price history on this road prices don't deviate from the trend much. So I think this is confirmation of how prices have collapsed in Redhill for bog standard properties

Prices in Redhill are strange

Some areas of the town have suffered, some areas not so.

Here in Meadvale, prices have fared better. People are still paying good prices for desirable property

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I have noticed that there have been 3 or 4 houses which were for sale a year ago but went to rent instead but are now back for sale. One in particular I remember was on for £410,000 and is now on for £349,950. I agree that the different areas of Redhill seem to have reacted differently to the "downturn".

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I think the previous poster is right; some areas in the Redhill area have holed out and soem haven't. We're typically seeing 10% in Merstham/Nutfield Borders, 15-20% in South Merstham, near Redhill town centre 20% The area you are discussing is opposite a hot bed of crime and in between two busy roads; it would be one of the less desirable areas of Redhill. Looking around different places, like Palmers Close, which is in a nice cul de sac, you're looking at small drops over the past 2 years. I cna see one house on at 330k that I think is like one I saw 3/4 years ago for 274k.

One thing that does tickle me, is that people talk of 16% drops YoY, but that is an average; some places, some towns, needed to drop 30% and have, but some places will always command more money than others. I have been looking in Gillingham and Mere in Wilts/Dorset and you're seeing 30-40% drops in some cases; one house I have been watching, specifically, has come down from 650k to 450k in a little over a year. The area has no support for high house prices i.e. well paid local employment, commutable distances to centres of commerce, infrastructure, etc. However, looking at nice areas in Surrey, within 30 mins of London hibs, Gatwick, heathrow, in nice areas, will always command good prices. Once you look at these specific areas, there are pockets of them more/less expensive than others and others that are just stable. I bought one house for £275 in May 2006 which still has a value of over 340k; I dont see that house, due to it's location and type, dropping anymore, but maybe increasing a little bit.

Live in Warrington, Rotherham, Mere, you'll see larger house price drops than in Reigate, Weybridge, Oxted

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