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delite1

Ouch!

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FROM THE PMT BOARD,

This property is for sale at £275K

http://www.findaproperty.com/agent.aspx?ag...2&photo=2#photo

As per nethouseprices, it turns out that it was purchased in May 2005 for £311K (it's No. 98 in the street).

As far as I can tell, this means someone paid 311K for it, spent several grand on completely refurbishing it, and it is now for sale at 275K. A profit of.... minus 36K at the very best, not including refurbishment costs.

Someone watched Property Ladder and went a little dolally, methinks.

:lol::lol::lol::lol:

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FROM THE PMT BOARD,

This property is for sale at £275K

http://www.findaproperty.com/agent.aspx?ag...2&photo=2#photo

As per nethouseprices, it turns out that it was purchased in May 2005 for £311K (it's No. 98 in the street).

As far as I can tell, this means someone paid 311K for it, spent several grand on completely refurbishing it, and it is now for sale at 275K. A profit of.... minus 36K at the very best, not including refurbishment costs.

Someone watched Property Ladder and went a little dolally, methinks.

:lol::lol::lol::lol:

It's a perfect example of what I now think of as 'The Madness'.

That property should be £125k - absolute maximum.

That someone paid £311k needing refurbishment boggles the mind.

That someone will probably take on a 200k mortgage to live in a terraced house - boggles the mind even further.

The mind boggles.

Morden used to be a dump - wonder if it still is.

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It's a perfect example of what I now think of as 'The Madness'.

That property should be £125k - absolute maximum.

That someone paid £311k needing refurbishment boggles the mind.

That someone will probably take on a 200k mortgage to live in a terraced house - boggles the mind even further.

Er, I can show you a row of terraced 'cottages' on the main road out of Cockfosters, North London. Each is half the size of the one you mention above, and all are about £300k. Out of a block of 8, 5 have been purchased and 'refurbished' in the last 12 months, and not one of them has sold. The prices still remain stupidly high, but the sellers have convinced themselves that these prices are achievable, so the 'maddness' continues. No idea how much these people will eventually lose, but I hope it's lots. :D

Nomadd

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Er, I can show you a row of terraced 'cottages' on the main road out of Cockfosters, North London. Each is half the size of the one you mention above, and all are about £300k. Out of a block of 8, 5 have been purchased and 'refurbished' in the last 12 months, and not one of them has sold. The prices still remain stupidly high, but the sellers have convinced themselves that these prices are achievable, so the 'maddness' continues. No idea how much these people will eventually lose, but I hope it's lots. :D

Nomadd

Where exactly in Cockfosters, Nomadd?

I STR'd my terrace house in Southgate last year for 240K - 2 doors up, a slightly higher spec house was on for 259k. The girl who bought my place offered 250 for that one but the idiot turned it down, thinking he could get 259...I knew that with the extra stamp duty alone, he wouldn't get it. So, she offered on mine and we agreed at 240K.

How I laughed when I checked nethouseprices a few months later to see that he'd sold for 240K! :lol:

Interesting to note, however, that another 'cottage' has gone up for sale on my old road for 275K!

http://www.homepages.co.uk/sql/showprop.pl...91131&grp=22950

The owner has admitted that she is 'trying it on', but surely this practice is creating an artifical rise in the house price data compiled by the likes of Hometrack...

Needless to say, she's had no interest.

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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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