Jump to content
House Price Crash Forum
Sign in to follow this  
porca misèria

50% Drops

Recommended Posts

Anyone seen a verifiable 50% drop in a UK price?

Ideal would be a reference one could check from the land registry via price records such as aboutmyplace.co.uk.

Share this post


Link to post
Share on other sites

25 Rowheath Road, Cotteridge, Birmingham

Right Move | Google Maps | NetHousePrices

SOLD

12-Sep-2007 : £134,000

19-Feb-2008 : £225,000

ASKING

15 September 2010 : £135,950

20 October 2010 : £129,950

19 November 2010 : £119,950

11 January 2011 : £112,500

16 February 2011 : £105,000

Now, I suspect that this particular property was the subject of mortgage fraud - an increase in "value" of £91,000 in just 5 months (2007/2008)? C'mon, I don't even see a vase of twigs anywhere! - but then hasn't the whole UK housing market been subject to one massive mortgage fraud? Does that not explain why house prices doubled in 4 years and tripled within 8? Well, yes, of course it does.

And if it can double in 4 years it can halve in 4 years too. Indeed, if it wasn't for ZIRP and QE it would have by now.

Edited by GordonBrownSpentMyFuture

Share this post


Link to post
Share on other sites

For Sale

£1.1M May 2010

sold £550k Aug 2010

I think the amount of people trying it on SHOULD at some point show dramatic falls in the rightmove asking prices index as sellers give up that and put the real price on, however despite the fact i can't find any rises but see many 50K and 100k drops in asking prices they claim a 0.8% rise and an impressive 231k average price http://www.rightmove.co.uk/news/house-price-index/march-2011. My personal opinion is that their index is pure manipulated ********

Edited by athom

Share this post


Link to post
Share on other sites

The one that sold for £75k is on an 80s estate. The one that sold for £188k was the exact same housetype/floorplan.

http://www.houseprices.co.uk/e.php?q=riverwell+northampton&n=10

Not sure what size drop that is? 60? 70?%

I remember it being reduced at the very bottom Started at £120k, then £110k, then £100k. Obviously some flipper offered £75k and re-sold at £126k after getting rid of some pebbledash and fitting new carpets.

At the time i was expecting 90%+ drops as they seemed to be getting in parts of the US, so didnt buy :angry:

Share this post


Link to post
Share on other sites

I think the amount of people trying it on SHOULD at some point show dramatic falls in the rightmove asking prices index as sellers give up that and put the real price on, however despite the fact i can't find any rises but see many 50K and 100k drops in asking prices they claim a 0.8% rise and an impressive 231k average price http://www.rightmove.co.uk/news/house-price-index/march-2011. My personal opinion is that their index is pure manipulated ********

I think this has always been the case though. A relative of mine bought a very very nice house in a very very nice part of Surrey for £750k in 1997 (sold for £4.5m around peak the lucky git). A couple of weeks ago i found an old 1997 country life issue lying around, a less nice house, less nice road, and oddly for country life no land included asking £1.5million. It was a new build, so there is some premium, but i doubt they got anywhere near that unless they waited a few years for the market to catch up.

That updown court most expensive house in england has been for sale since 2003 now hasnt it? At £75million, thats 8 years of interest payments. Thats a lot of interest.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 285 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%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.