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MattW

Interesting Price Drops In North Norwich

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I wonder what the story is with these 3 houses new to the market in the same NR3 postcode area? Same Estate Agent (Pymm & Co) and all within the last day or so.

Landlord now wants to sell houses quickly due to depleting funds? Or by coincidence 3 separate sellers wanting fast sales? Reposessions perhaps?

£89,995 163 Bullard Rd, Norwich, NR3

Sold in July 2007 for £126,500 (ouch! :blink: )

£79,995 6 St Olaves Road, NR3

In list view it reads:

THREE BEDROOM TERRACE IN NEED OF RENOVATION, POSSIBLE STRUCTUAL ISSUES SO CASH BUYERS PREFERRED!!

Sold in August 2000 for £51,500 but then again in May 2005 for £100,000 (ouch again)

£75,000 4 Bolingbroke Road, NR3

Again needs work but this is interesting:

AGENTS NOTE, SEVERAL OUTBUILDINGS AND EXTENSIONS MAY NOT HAVE HAD PLANNING PERMISSION, FULL DETAILS WILL NEED TO BE LOOKED INTO VIA YOUR SOLICITORS

Sold in October 2007 for £124,000

If they are/were owned by the same opportunist then that person is looking at perhaps £80,000 shortfall to meet. :o And for houses in not so great areas that would be hard to let.

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Even if they are all sold by the same owner, it doesn't matter. Prices are set at the margin, so if these sell for these prices, and there's no reason why they shouldn't if buyers think them reasonable, then that sets the value for all the other houses of a similar size and standard nearby. With internet tools that put this info in the public domain, can anyone else here the sound of an impending HPC in this part of Norwich?

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In south Norwich its nuts as usual.

4 bed on greenways 269,000 went to sealed bids immediately. Everything in Sunningdale gone immediately

one house in eaton near the school sold whilst i was working in London for 7 days = massive row.

Everything any good selling on horrifically overpriced or ugly staying on in the South of Norwich.

Literally hordes of people, many cash bidders so all in all really shit ;-)

Cannot find nice rental either with the kids under £850 per month so really really depressing (lost a couple of houses as did not want to rent to family with young kids when they could have sharers/dinks).

Even when you find one you like, the folks in the house cannot get out in good time as they have the same issue moving on.

So really even if you have the money its not a great situation no supply and plenty of demand at the right price (2005/6) EAs will be under the cosh as they just dont have the houses to sell.

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Cannot find nice rental either with the kids under £850 per month so really really depressing (lost a couple of houses as did not want to rent to family with young kids when they could have sharers/dinks).

It is very odd isn't it - landlords with HOUSES that are most suitable for FAMILIES and yet they don't want tenants with children! Even with a damage deposit payable. :rolleyes: Absolutely incredible!

This one is very close to the Bullard Rd property in my first post and in the same style:

91 Woodcock Road, NR3 £100,000

However:

We are acting for the mortgagees and have received an offer of £86,500 on 91 Woodcock Road, Norwich NR3 3TH.

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In south Norwich its nuts as usual.

4 bed on greenways 269,000 went to sealed bids immediately. Everything in Sunningdale gone immediately

one house in eaton near the school sold whilst i was working in London for 7 days = massive row.

Everything any good selling on horrifically overpriced or ugly staying on in the South of Norwich.

Literally hordes of people, many cash bidders so all in all really shit ;-)

Cannot find nice rental either with the kids under £850 per month so really really depressing (lost a couple of houses as did not want to rent to family with young kids when they could have sharers/dinks).

Even when you find one you like, the folks in the house cannot get out in good time as they have the same issue moving on.

So really even if you have the money its not a great situation no supply and plenty of demand at the right price (2005/6) EAs will be under the cosh as they just dont have the houses to sell.

Hi, Rentals are dificult if you have to stay in one area , for a school or similar, but what about quality of life? If you look a little more rural to buy , you will find loads of houses that are completely stuck and price dropping like mad. NR29,NR13, NR12, NR30 etc its all falling off a cliff, (unless you talk to abbotts...) There are lots of properties that have owners that bought around end 2007 and are desperate to sell so as not to lose even more money, and the redundant and just plain scared of course. i am Sold To Rent, and so so glad. Buying now is like buying in 2008. You see a bit of a dip and think you are saving money. Well let me say that house prices are going only one way and that is down. See land registry. We all have diferent requirements of the housing market, but I think that following lemmings is not the best idea.

Look at new build prices, they are some of the cheapest houses in the £200k bracket. Builders know the market.

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North Norwich again: -

Knowlsely Rd, GP £90k.

2063_NOR112080_IMG_00_0000_max_620x414.jpg

Property Bee:

17 November 2011 08:57:31 Price changed: Offers in Excess of £110,000 Guide Price £90,000

06 November 2011 15:59:55 Price changed: £120,000 Offers in Excess of £110,000

21 October 2011 11:30:42 Price changed: £124,950 £120,000

22 September 2011 10:43:39 Price found: £124,950

Decent enough price drop but now looks like it will now go through the auction, given the info at the bottom of the page...

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