Butthead Report post Posted October 17, 2005 I was chatting today to a guy at work who used to be heavily into property. He is a millionaire now having bought big in the mid 90's but has sold off much of his portfolio in the last couple of years. He told me however that he has just had an offer accepted on a property in Swansea. Uh-oh I thought, not the time to buy. Then he told me that the house was for sale at £142k and the offer the vendor accepted was £118k!!! Don't get me wrong, I still think that buying anything in South Wales right now is a mistake, but it's very interesting that a seller should accept a drop of 18% Sadly I don't have links or facts to back this up, but my understanding is that other similar properties had sold for around 140k fairly recently. 18% is quite a lot of "cooling", "easing", "slowing down", etc is it not? Quote Share this post Link to post Share on other sites
CrashCrash Report post Posted October 17, 2005 18% is quite a lot of "cooling", "easing", "slowing down", etc is it not? crashing ? Quote Share this post Link to post Share on other sites
ʎqɐqɹǝʞɐɥs Report post Posted October 17, 2005 (edited) 18% is quite a lot of "cooling", "easing", "slowing down", etc is it not? Houston we have touch down? Edited October 17, 2005 by shakerbaby Quote Share this post Link to post Share on other sites
gruffydd Report post Posted October 17, 2005 (edited) Been tracking a W Wales property - £145,000 a few weeks ago - £125,000 now, and soon to be dropped again, or so I'm told - down she goes! And this is a nice property! Another detached property - 175, 169, 159........ Get the impression increasing numbers are struggling with mortgages and trying to offload their properties quickly. Edited October 17, 2005 by gruffydd Quote Share this post Link to post Share on other sites
BandWagon Report post Posted October 17, 2005 Just wait until the unemployment really starts kicking in, it usually takes about 2 years after the peak of a housing boom. Next year is going to be very messy. Quote Share this post Link to post Share on other sites
The Masked Tulip Report post Posted October 17, 2005 18% down is a good start... long way to go IMPO in that part of the World. Good news though. Quote Share this post Link to post Share on other sites
oracle Report post Posted October 17, 2005 I too have anecdotal evidence of LL selling up. a work colleague is in the process of selling his property.He had a viewing last night from a lady who is currently renting but has to move because the Landlord has deceided to sell the property she is in. why she wishes to buy is beyond me,but the interesting bit of the conversation was more to do with the landlord....that got me a bit moist! Quote Share this post Link to post Share on other sites
BARRY SCOTT Report post Posted October 17, 2005 I too have anecdotal evidence of LL selling up. a work colleague is in the process of selling his property.He had a viewing last night from a lady who is currently renting but has to move because the Landlord has deceided to sell the property she is in. why she wishes to buy is beyond me,but the interesting bit of the conversation was more to do with the landlord....that got me a bit moist! I was given my notice 8 months ago to leave the property I was Renting in North west London. Its still on the market! It was a 3 bed house, pretty scruffy condition on at 295K. 3 months later it was down to 280K now on with a different agent at 285K! i remember her saying she needed a quick sale as she couldn't afford the mortgage payments for long with it un-tenanted. I'm renting elsewhere Quote Share this post Link to post Share on other sites
