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TheCountOfNowhere

80% Loss In 3 Years !

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According to www.houseprices.co.uk, we have one of these flats:

http://www.rightmove.co.uk/property-for-sa...auction%3Dfalse

Sold in Jan 2009 for:

23/01/2009 £50,500 Flat L/H No Map Flat 102, Northampton House, Wellington Street, Northampton, Northamptonshire, NN1 3N

Flat 102, Northampton House, Wellington Street, Northampton NN1 3NA

See all house prices in NN1 3NA

Flat, Leasehold, 2 Beds, 1 Baths, 1 Receps - Edit

£50,500

Sold in October 2006 for...this will make you laugh, cry or shake your head in disbelief:

5 16/10/2006 £242,000 Flat U Yes Map Flat 102, Northampton House, Wellington Street, Northampton, Northamptonshire, NN1 3NA

Now, correct me if im wrong...that's approx 80% down !!!!!

That's what I call a house price crash.

Read it and weep troll estate agents types. This is coming soon to a crappy new build block of flats near you...one of which you probably live in :lol:

Edited by TheCountOfNowhere

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Oh, you doubting thomas...well here you go...

Who the f**k paid 242K for one of those, it's full of...well..err....undesirables, and thats me being polite.

http://www.houseprices.co.uk/wellington-st...orthampton-nn1/

and

http://www.houseprices.co.uk/wellington-st...hampton-nn1/11/

Im more inclined to believe it is some money laundering criminal thing than some idiot paying 242K for a flat there.

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Guest Parry aka GOD
You know somebody's going to say "linky"......

That's quite a loss for some poor soul....

Yes. The cause of this now unfolding human tragedy was so avoidable. I remember when Brown said "No return to boom and bust" and I thought we may have a reasonably sane government. Little did I know what was to follow.

Edited by Parry aka GOD

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Yes. The cause of this now unfolding human tragedy was so avoidable. I remember when Brown said "No return to boom and bust" and I thought we may have a reasonably sane government. Little did I know what was to follow.

He lied

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That's one hellava bust!!!

That bust makes Dolly Parton's look like a fried egg on an ironing board !!!

Must have been someone up from london thinking they were getting a bargain.

Just shows you though what can happen when people realise something is not worth what they were told.

A lot of the flats in that bloke sold originally for about 150K.

They used to go at auction for 60-70K. It would appear that glass floor was shattered in January.

Edited by TheCountOfNowhere

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Some of these flats appear to have changed hands twice on the same day. For tens of thousands difference. Is this an official record record of mortgage fraud? Check out www.nethouseprices.com and sort by address. Some got seriously burnt, some made a packet in a day!

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Guest happy?
That's one hellava bust!!!

That bust makes Dolly Parton's look like a fried egg on an ironing board !!!

Must have been someone up from london thinking they were getting a bargain.

Just shows you though what can happen when people realise something is not worth what they were told.

A lot of the flats in that bloke sold originally for about 150K.

They used to go at auction for 60-70K. It would appear that glass floor was shattered in January.

Do you think they even bothered leaving London - I doubt it.

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Some of these flats appear to have changed hands twice on the same day. For tens of thousands difference. Is this an official record record of mortgage fraud? Check out www.nethouseprices.com and sort by address. Some got seriously burnt, some made a packet in a day!

Yes, there is something decidely odd in those transactions.

One for the police I think !!!

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Jees , they've been making losses in that block since June 2006 .

you don't know northampton well do you?

wish i was that lucky! :lol:

northampton house is an ex council headquarters built in the very early '70's.

'nuff said

the horror, the horror!

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5 16/10/2006 £242,000 Flat U Yes Map Flat 102, Northampton House, Wellington Street, Northampton, Northamptonshire, NN1 3NA

Now, correct me if im wrong...that's approx 80% down !!!!!

That's what I call a house price crash.

Read it and weep troll estate agents types. This is coming soon to a crappy new build block of flats near you...one of which you probably live in :lol:

The person who sold the flat for £242,000 must of been laughing depending on whether he used the money wisely. I still think it is ridiculous that this could of happened though.

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Guest Parry aka GOD
The person who sold the flat for £242,000 must of been laughing depending on whether he used the money wisely. I still think it is ridiculous that this could of happened though.

Tells me there is a staggering amount of money out there. Add in the QE and when this thing breaks all inflation hell will be let loose.

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The person who sold the flat for £242,000 must of been laughing depending on whether he used the money wisely. I still think it is ridiculous that this could of happened though.

It was a newbuild , so the developer was pissing him/herself with laughter :-((((

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It was a newbuild , so the developer was pissing him/herself with laughter :-((((

It wasnt a new build in 2006 !!!!

Tho I do remember being told the council bought lots of them!!! To house....immigrants.

Those penthouse owners must be happy it's good to be at the top of a pile of 5HIT :lol:

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It wasnt a new build in 2006 !!!!

Tho I do remember being told the council bought lots of them!!! To house....immigrants.

Those penthouse owners must be happy it's good to be at the top of a pile of 5HIT :lol:

Land registry are classing it as a new build .

new_build.jpg

Edit :

Either way , the developer is the one laughing .

post-4353-1252282612_thumb.jpg

Edited by Dead Spider

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Correct me if I'm wrong - but this building used to be Northampton Borough Council Offices.

Maybe, they attained 'new build' status when then the building was transformed in to the deluxe lifestyle apartment block we know and love today.

It has stunning views of the multi-storey car park! :blink:

These flats will be sub 30K in another 12 months.

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I'll see your 80% in three years and raise you with 87.85% in 2 years.

Ladies and gentlemen, I present you Flat 97, Seacon Tower, E14:

16/08/2006 - £1,400,000

28/07/2008 - £170,000

Considering that's one of the three penthouses in the block, irrespective of what the service charges have spiralled to nowadays, then that's a hell of a discount.

But, it's amazing what you can stumble across when you're playing with Google.

Something about this and the OP's example just don't add up.

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I'll see your 80% in three years and raise you with 87.85% in 2 years.

Ladies and gentlemen, I present you Flat 97, Seacon Tower, E14:

16/08/2006 - £1,400,000

28/07/2008 - £170,000

Considering that's one of the three penthouses in the block, irrespective of what the service charges have spiralled to nowadays, then that's a hell of a discount.

But, it's amazing what you can stumble across when you're playing with Google.

Something about this and the OP's example just don't add up.

Not sure but do LR sometimes not record partial transfers where one of two or more parties "sells" their stake, e.g. in the case of divorce/separation?

How do LR differentiate between a partial sale or full sale on the data they issue?

Edited by Bootsox

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It was a newbuild , so the developer was pissing him/herself with laughter :-((((

Used to be an office block when I lived in Northampton, occupied by the Northamptonshire County Council!

Northampton was comprehensively ruined in the 1970's with atrocities like the Barclaycard centre on Marefair (since torn down) and the Greyfriars Bus Station.

I don't think I'd even pay £55,000 for one of those.

Edited by HostPaul TAFKA Rover2000

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Not sure but do LR sometimes not record partial transfers where one of two or more parties "sells" their stake, e.g. in the case of divorce/separation?

How do LR differentiate between a partial sale or full sale on the data they issue?

They didn't on another example that was brought up.

But even if you assume that, when there is no way of telling, then it becomes £340k down from £1,400k.

I'd notice that!

These quoted service charges are outrageous.

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Some of these flats appear to have changed hands twice on the same day. For tens of thousands difference. Is this an official record record of mortgage fraud? Check out www.nethouseprices.com and sort by address. Some got seriously burnt, some made a packet in a day!

I have noticed this before on houses and flats, mainly flats though. Theres been a lot of dirty dealing going off in this engineered housing boom all the bodies concerned knew it was going on but buried their heads in the sand as at the time it suited them as it dragged genuine buyers into the market.

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