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Rigsby

Now That's What I Call A Drop

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Wow.

I guess it depends what they did inside the property between the purchases, could have had a fire or been utterly trashed, or lots of water damage.

But all else being equal that's one heck of a correction.

The BROCHURE certainly doesn't allude to any damage

Edited by exiges

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In the same block, number 11 obviously one of the "penthouse" appartments sold in 2008 for £165k and was then resold at the same auction of £27k.

Text book examples of develper over-valuation.

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maybe as people get more desperate they will have to reduce their prices further.

I live in the north - but i am puzzled why prices haven't dropped further.... quicker....

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I live in the north - but i am puzzled why prices haven't dropped further.... quicker....

Too many safety nets.

1. Stupid low interest rates helping people pay their mortgage.

2. Banks being gentle on you when you do get behind.

3. SMI payments to bail you out if you have no money.

It takes quite some deft skill to get repossessed these days.

Edited by exiges

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Still,it's just a flat up north, and no internal pix I see.

£23,000.

Crikey that wouldn't even buy you a wheelie-bin space in some places.

It says self contained flat, this means one of those 'flats' I lived in near Haringhey a long time ago now.

I.e they get a big house with big rooms and cut each room into 3 or 4 flats. Rooms are big enough to put a single narrow bed and a dresser. You then have a toilet/kitchen/shower combo room. Mine made Hong Kong flats look big. It had a toilet with a shower above the water cistern. Behind the door was a roller shutter which housed the 'kitchen' which was a twin electric hob and a sink which ran into the wet room floor.

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sold for originally £95,000

http://*******.com/33zgav5

sold at auction for £23,000

http://*******.com/36mrhgr

:o:lol:

both of those properties are leases not freehold

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In the same block, number 11 obviously one of the "penthouse" appartments sold in 2008 for £165k and was then resold at the same auction of £27k.

Text book examples of develper over-valuation.

Wow!!

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  • 245 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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