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17% Asking Price Drop In A Single Day

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Alongside a 10% price drop in a single day for another house (£525k down to £475). These are the fabled 4/5 bedroom 'family homes, good catchment area, SE England' which are so rare on the market they 'always hold their value.'

Panic, basically.

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Alongside a 10% price drop in a single day for another house (£525k down to £475). These are the fabled 4/5 bedroom 'family homes, good catchment area, SE England' which are so rare on the market they 'always hold their value.'

I've noticed the price drops have been more substantial than the usual derisory £5-10k increments.

This recent search : CLICK shows some good drops.

Of the 10 properties on the first page, the following drops have been registered in the last 7 days:

1x £45k drop

1x £65k drop

2x £25k drop

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Alongside a 10% price drop in a single day for another house (£525k down to £475). These are the fabled 4/5 bedroom 'family homes, good catchment area, SE England' which are so rare on the market they 'always hold their value.'

Panic, basically.

Or just getting ahead of the curve... <_<

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Alongside a 10% price drop in a single day for another house (£525k down to £475). These are the fabled 4/5 bedroom 'family homes, good catchment area, SE England' which are so rare on the market they 'always hold their value.'

Panic, basically.

yep no worries.that's only the start, in few months time it will be 20% . ...30%... Let's enjoy :)

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Here in Lincoln it's mainly the derisory 5 % drops....

Don't underestimate the power of a 5% drop. If the GBP:USD exchange rate changes by 2% in a day, you may think that's no too significant. If it repeats the same change for 2 weeks you're looking at upwards of a 14% change - which is catastrophic in most currency trader's books.

Property prices are the same, only slower to react - indices tell us the 'price' of houses only monthy instead of every second as is the case for currencies. Fortunately the army of watchers who are the house buying public know before it hits the press that drops are afoot.

Now price drops and expected further price drops are being reported in pretty much all of the mainstream media rather than just the usual suspects, expect the trickle to become a flood.

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Here in Lincoln it's mainly the derisory 5 % drops....

The most "exciting" reduction I saw was from 199K to 193K!

What's the flipping point???????????????

tim

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The most "exciting" reduction I saw was from 199K to 193K!

What's the flipping point???????????????

tim

3 grand? Pah - check this out from Property Bee:

History

date event

Sat Jul 17 08:52:22 2010

* Price changed: from '£2,794,999' to '£2,794,995'

Tue Jul 13 16:56:59 2010

* Initial entry found.

A very precise four pounds has been knocked off this grossly overpriced house in the North London burbs.

It's the crash, I tell ye! :blink:

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Anything between £500k and £600k only ever sells for £500k. I had a similar issue with my house that I STRed in 2007.

Notionally it was worth £540k(slightly better spec and bigger garden than neighbours who got £485k and £500k) , but in reality no one is going to give you the extra £40k, so I ended up with the cool half million.

Of course being willing to take the small hit was a good move, as ultimately I sold and in theory the house was only worth about £420k by early 2009.

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  • 141 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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