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HPCwhen?

What Goes Up Must Come Down, Right?

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I quite like this development in Dundonald. There are a bunch of a properties for sale ranging from apartments to 4 bed 'townhouses' (whatever they are): -

http://www.propertynews.com/brochure.php?r...=1&sort=h2l

http://www.propertynews.com/brochure.php?r...=1&sort=h2l

http://www.propertynews.com/brochure.php?r...=1&sort=h2l

The apartments (priced at 125K) have already been for sale at that price for months so they're definitely NOT worth 125K. At the near-ish Coppers Mill development 2 bed apts were sold off plan at 97500K. I'm thinking these will sell for 100K? This takes then right back down to rateable value.

The smaller three bed terrace was on for 175 then dropped to 169 and then went sale agreed. Its now back on the market. This property has a rateable value of 115K. The final, slightly larger, townhouse property has an RV of 125. The weird thing is I can't ever see these selling for 115 or 125K ever again (more like 145) but why shouldn't they? If 5 years ago an apartment sold for 100K and a terrace for 115k why shouldn't that be the case again? Am I just being a bit thick?

If (or when) the apartments are marketed at 100k will this not make the three bed terrace look seriously overvalued? Perhaps I'm comparing apples and oranges and somewhere along the line we now place a much greater premium on terraced homes above apartments? I'm confused Sorry for the ramble.

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.... At the near-ish Coppers Mill development 2 bed apts were sold off plan at 97500K. ....

Wow!!!!!!!!!

I would have rounded it up to the £98 million myself :D

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I quite like this development in Dundonald. There are a bunch of a properties for sale ranging from apartments to 4 bed 'townhouses' (whatever they are): -

The apartments (priced at 125K) have already been for sale at that price for months so they're definitely NOT worth 125K. At the near-ish Coppers Mill development 2 bed apts were sold off plan at 97500K. I'm thinking these will sell for 100K? This takes then right back down to rateable value.

that's some expensive assed property there :D

j/k ;)

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They do look nice but in the end of the day its a terraced house. I would say they the real value of these will be 125k.

BUT like everything in life if depends on the you, if you have the cash, you really like them etc etc them go for it with an offer of 150k.

I think the key thing to remember is its a buyers market and will be for the next few years.

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Subby - LOL on the price!! My bad.

Thanks Left of Centre. I'm just so bored of waiting around. It's annoying to think that things will move so slowly over the next few years. It seems we have been in 'crash mode' for so long and yet prices are still incredibly sticky. It must be 2 years now - or perhaps even longer?

I'd just like to able to stop worrying about property ( Have we reached the bottom?, will I miss the boat again?, what about inflation? blah blah blah). I know its stupid and I know I don't need to own (or part own!) a house in order to get on with my life - it would just be nice, that's all.

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Subby - LOL on the price!! My bad.

Thanks Left of Centre. I'm just so bored of waiting around. It's annoying to think that things will move so slowly over the next few years. It seems we have been in 'crash mode' for so long and yet prices are still incredibly sticky. It must be 2 years now - or perhaps even longer?

I'd just like to able to stop worrying about property ( Have we reached the bottom?, will I miss the boat again?, what about inflation? blah blah blah). I know its stupid and I know I don't need to own (or part own!) a house in order to get on with my life - it would just be nice, that's all.

Part ownership is a fools errand designed to slow down the crash. Crashes take 3-5 years, we're 2 years into this one

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Part ownership is a fools errand designed to slow down the crash. Crashes take 3-5 years, we're 2 years into this one

Thanks Vesp. I'm only too aware of the stupidity of co-ownership (though mainly due to reading yours and others post on this website!) I was just acknowledgeing that when I buy the bank will still own 2/3 of 'my' house.

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