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Elizabeth

:d Signs Of Offloading

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Having spent a goodly amount of my time on rightmove for the last year I pretty much know what to expect and in london, that is nothing under 105K except for Commerical, Retirement, Sharebuy and short-lease (oh and 99,995 for ex-council tower flats). But two recent listing have bucked the trend.

My first offload category is Cr*ps above shops

Cr*p above shop No 2:

http://www.rightmove.co.uk/viewdetails-907...a_n=10&tr_t=buy

Cr*p above shop No 1 (previously listed in Outreageously Expensive...):

http://www.rightmove.co.uk/viewdetails-862...pa_n=3&tr_t=buy

Has anyone noticed any other offloads categories starting to appear?

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I am miffed why "Buy to Let" and "Cheap Investment" are features.

Can they advertise that it is guaranteed to make money? If I was reading that, then I would think it would definitely make money. Surely this is false advertising.

It should read "Candidate for Buy to let" and "Potential Investment Opportunity" which is more accurate.

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Having spent a goodly amount of my time on rightmove for the last year I pretty much know what to expect and in london, that is nothing under 105K except for Commerical, Retirement, Sharebuy and short-lease (oh and 99,995 for ex-council tower flats).  But two recent listing have bucked the trend. 

My first offload category is Cr*ps above shops

Cr*p above shop No 2:

http://www.rightmove.co.uk/viewdetails-907...a_n=10&tr_t=buy

Cr*p above shop No 1 (previously listed in Outreageously Expensive...):

http://www.rightmove.co.uk/viewdetails-862...pa_n=3&tr_t=buy

Has anyone noticed any other offloads categories starting to appear?

On a £/sq. ft. basis I think No2 represents value worth looking at for London.

It's around 7-800 sq. ft That's around £100 per sq. ft (assuming you pay asking!).

Call me a mug, but are you sure they haven't dropped a 1 off the start of that price by mistake?

The only property I have ever seen advertised in London that I thought was good value and got excited about was a pricing error. Advertised at £220k, correct asking price was £320k.

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On a £/sq. ft. basis I think No2 represents value worth looking at for London.

It's around 7-800 sq. ft That's around £100 per sq. ft (assuming you pay asking!).

Call me a mug, but are you sure they haven't dropped a 1 off the start of that price by mistake?

The only property I have ever seen advertised in London that I thought was good value and got excited about was a pricing error. Advertised at £220k, correct asking price was £320k.

the £/sq. ft. look great, but have you checked out the Tottenham High Road lately? And LIVING on it. In fact have you ever lived on a main road above a shop? If you want space you can rent out warehousesfor £5 per square foot out in those big warehouses behind Hackney - you would have to pretend you were a stack of boxes, but they're not on a main road either.

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Having spent a goodly amount of my time on rightmove for the last year I pretty much know what to expect and in london, that is nothing under 105K except for Commerical, Retirement, Sharebuy and short-lease (oh and 99,995 for ex-council tower flats).  But two recent listing have bucked the trend. 

My first offload category is Cr*ps above shops

Cr*p above shop No 2:

http://www.rightmove.co.uk/viewdetails-907...a_n=10&tr_t=buy

Cr*p above shop No 1 (previously listed in Outreageously Expensive...):

http://www.rightmove.co.uk/viewdetails-862...pa_n=3&tr_t=buy

Has anyone noticed any other offloads categories starting to appear?

Jinkeys, this is cheaper than Leeds!

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Talking about offloading:

Trinity College is the largest and richest of all Oxbridge college (by a long way). It is a huge landowner including major holdings in the port of Felixstowe (is it still the largest container port in the country?) and the Cambridge Science Park (locals will understand the importance).

(See: http://en.wikipedia.org/wiki/Trinity_College%2C_Cambridge )

Anyway, Trinity College is banking on current (not for very much longer imo) high prices by offloading 2 x 3-storey and 4 x 4-storey victorian houses, all next to each others on the same street.

Obviously they can only do this because they are building more student accommodation in Cambridge.

Sell at inflated price, buy at cost.

See for yourself:

http://*******.com/97cux

http://*******.com/8gmzq

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the £/sq. ft. look great, but have you checked out the Tottenham High Road lately? And LIVING on it.  In fact have you ever lived on a main road above a shop? If you want space you can rent out warehousesfor £5 per square foot out in those big warehouses behind Hackney - you would have to pretend you were a stack of boxes, but they're not on a main road either.

regardless of how crap it is, those prices per sq. ft. are unheard of in London for residential property.

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regardless of how crap it is, those prices per sq. ft. are unheard of in London for residential property.

My only fear now is that I have started a rush on a crappy flat in Tottenham and that when the real estate opens on tuesday morning they will get 50 equiries who all tell them they first heard about it on the housepricecrash website :o

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On a £/sq. ft. basis I think No2 represents value worth looking at for London.

It's around 7-800 sq. ft That's around £100 per sq. ft (assuming you pay asking!).

Call me a mug, but are you sure they haven't dropped a 1 off the start of that price by mistake?

Good value! Utter tosh.

It just supports the theory (that's been mentioned many times on here) that the bottom-end dumps will crash hard and fast. These are the kind of places that were 25k in the mid-1990s and just because they're now back below 100k, it doesn't suddenly make them a bargain. Dumps will reestablish true market value over the next few years.

You would only live above a shop in a hellhole like Tottenham or Peckham if desperate (ie. no choice) or you may chance it for a couple of years if HPs were soaring. Scenario 2 is no longer an option so normal service will be resumed. Sure, a few recent FTBs will be stuck there for years to come with neg equity but they won't be joined by any more. Value will be set when the rental market reflects income levels of those who live in such places ie. on government handouts or the very lowest wage earners (typically illegals with no choice but to work for 2 quid an hour). Ok they won't hit 25k again cos London will always have a lot of desperates who will live anywhere but as an investment, forget it.

Anyone who thinks that Peckham is full of cheeky chappy Delboy types should probably take a closer look. At night is a good time to visit.

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http://www.rightmove.co.uk/viewdetails-862...pa_n=3&tr_t=buy

Just take a look at the shape of the kitchen in this one......you cant even get the LH cupboard door open cos the wall is in the way!

Is it just me, or did they use some kind of new Rubic's cube fish eye lens for the photography???

James.

Edit: ....and while you're looking, the bioler is in the living room!

Edited by jpidding

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Another of my "watch the drop" strings:

It may be total sh*t but it is in Shepards Bush (never before seen under 129,995):

http://www.rightmove.co.uk/viewdetails-929...pa_n=1&tr_t=buy

The owners are still after a profit, according to nethouseprices.com

Flat 4, 56, Askew Crescent

Hammersmith And Fulham, London

Greater London

W12 9DW

£94,000

Flat

Leasehold

Build status not stated

19 Oct 2003

Map(W12 9DW)

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I thought you said Tottenham Court Road and I was about to put an offer in!!!

:lol:

Tottenham High Road....JESUS....without doubt one of the worst places north of the river unless you like drug-related crime and football yobs.

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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