TheCountOfNowhere Posted March 18, 2015 Share Posted March 18, 2015 (edited) Lambeth RM traffic for last 24h: 47% (27/57) of price reductions P.S. Be careful using bold/red, someone ( a greasy e.a. I assume ) took offence to this technique of pointing out the GOOD NEWS Edited March 18, 2015 by TheCountOfNowhere Quote Link to comment Share on other sites More sharing options...
julieannboo Posted March 18, 2015 Share Posted March 18, 2015 i have to laugh at this - one of these flats they had trouble selling when it was on for £115 two years ago. now they want £199k (just dropped to £195)k for one in Enfield lock - and they are TINY: http://www.zoopla.co.uk/for-sale/details/36010707?search_identifier=7e4f78928ca9f179f387f9925215f7f1#IFVK59WR7b9qkHfy.97 the vendor obviously ignored the flat in the same row that has been on for £162k since last november: http://www.zoopla.co.uk/for-sale/details/36010707?search_identifier=7e4f78928ca9f179f387f9925215f7f1#IFVK59WR7b9qkHfy.97 Good luck with that - to the vendor: Let me know how ya get on with that one... Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted March 18, 2015 Share Posted March 18, 2015 i have to laugh at this - one of these flats they had trouble selling when it was on for £115 two years ago. now they want £199k (just dropped to £195)k for one in Enfield lock - and they are TINY: http://www.zoopla.co.uk/for-sale/details/36010707?search_identifier=7e4f78928ca9f179f387f9925215f7f1#IFVK59WR7b9qkHfy.97 the vendor obviously ignored the flat in the same row that has been on for £162k since last november: http://www.zoopla.co.uk/for-sale/details/36010707?search_identifier=7e4f78928ca9f179f387f9925215f7f1#IFVK59WR7b9qkHfy.97 Good luck with that - to the vendor: Let me know how ya get on with that one... They are ignoring the fact they are probably worth £70K in the free ( non tory style ) market world Quote Link to comment Share on other sites More sharing options...
Damik Posted March 18, 2015 Author Share Posted March 18, 2015 P.S. Be careful using bold/red, someone ( a greasy e.a. I assume ) took offence to this technique of pointing out the GOOD NEWS Lambeth was a top performer already in January; looking for an acceleration now http://landregistry.data.gov.uk/app/hpi/view?from_m=2&from_y=2000&loc_0=Lambeth&loc_uri_0=http%3A%2F%2Flandregistry.data.gov.uk%2Fid%2Fregion%2Flambeth&m_hpi=1&m_vol=1&source=preview_form&to_m=2&to_y=2015 Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted March 18, 2015 Share Posted March 18, 2015 Lambeth was a top performer already in January; looking for an acceleration now http://landregistry.data.gov.uk/app/hpi/view?from_m=2&from_y=2000&loc_0=Lambeth&loc_uri_0=http%3A%2F%2Flandregistry.data.gov.uk%2Fid%2Fregion%2Flambeth&m_hpi=1&m_vol=1&source=preview_form&to_m=2&to_y=2015 Lets hope that Osborne's new housing prop keeps prices up falling quickly. Quote Link to comment Share on other sites More sharing options...
Neverwhere Posted March 18, 2015 Share Posted March 18, 2015 Not trading at the current LR inflation rate, being marketed at it. The question is, what price will they sell at. Over a long enough period, I can get a good idea by re-mapping sold listings to their new last sold price and finding the average. For now, it has to be a guess, and as you say, the fact that a decemt number won't even sell it's all the more difficult. It feels like sold prices should be 20-40% below asking prices, but on Location!, Location!, Location! (I'm only half joking, terrible I know but this is the extent of my experience) they rarely seem to manage more than 5 or 8% off. The gap must be wider though in a falling market. Do bear in mind, I have a number of other areas in the db, and streathams weakness is very obvious in comparison. Sorry, my mistake, there is clearly a qualitative difference between marketed and traded prices. What I'm not entirely sure about is whether the gap between these two figures is universally large or whether kite flyers that rarely sell are skewing the averages? As you say it's somewhat of a guess for now, but Streatham is certainly looking very precarious. I look forward to your tables of recently sold listings and LR sales prices Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted March 18, 2015 Share Posted March 18, 2015 Lambeth was a top performer already in January; looking for an acceleration now http://landregistry.data.gov.uk/app/hpi/view?from_m=2&from_y=2000&loc_0=Lambeth&loc_uri_0=http%3A%2F%2Flandregistry.data.gov.uk%2Fid%2Fregion%2Flambeth&m_hpi=1&m_vol=1&source=preview_form&to_m=2&to_y=2015 Are any of those collapsing prices getting back to 2010 levels yet ? Quote Link to comment Share on other sites More sharing options...
Damik Posted March 18, 2015 Author Share Posted March 18, 2015 Are any of those collapsing prices getting back to 2010 levels yet ? I am hoping for an acceleration and ideally faster speed down than the 2013 speed up. Also these LR data are 3 months old and the sheep public are not still aware of London falls. Waiting for the MSM to kick in ... Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted March 18, 2015 Share Posted March 18, 2015 (edited) I am hoping for an acceleration and ideally faster speed down than the 2013 speed up. Also these LR data are 3 months old and the sheep public are not still aware of London falls. Waiting for the MSM to kick in ... The new HTB ISA might change sentiment in the shires but if london really was being driven by speculation, foreign investors, FLS and pre-MMR sub-prime lending then I dont see anything other than the slow realisation that the emperor has no clothes. In fact the crazy HTB ISA thing might well accelerate matter sare people decide to wait when they realise whats happening. Sadly the foxton share price jumped 5% today, someone thinks otherwise. Edited March 18, 2015 by TheCountOfNowhere Quote Link to comment Share on other sites More sharing options...
Damik Posted March 18, 2015 Author Share Posted March 18, 2015 The new HTB ISA might change sentiment in the shires but if london really was being driven by speculation, foreign investors, FLS and pre-MMR sub-prime lending then I dont see anything other than the slow realisation that the emperor has no clothes. In fact the crazy HTB ISA thing might well accelerate matter sare people decide to wait when they realise whats happening. Sadly the foxton share price jumped 5% today, someone thinks otherwise. Well, also about 60 Foxtons EAs lost their job (even earning only £10k pa). So I am sure we are going in the right direction ... Quote Link to comment Share on other sites More sharing options...
Killer Bunny Posted March 18, 2015 Share Posted March 18, 2015 I think it was 60 staff, not just EAs. But the 5% jump is interesting. Ended at 4%. Worth watching. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted March 18, 2015 Share Posted March 18, 2015 (edited) Well, also about 60 Foxtons EAs lost their job (even earning only £10k pa). So I am sure we are going in the right direction ... Those EAs must all be rich surely. Surely they have bought into their own bubble, their house earns more than the PM and all that. They will be rich, rich I tell you. Still, 60 job losses....one has to feel for them, so lets send them our condolences: Jelly and ice cream all round if foxtons shuts down. Edited March 18, 2015 by TheCountOfNowhere Quote Link to comment Share on other sites More sharing options...
Damik Posted March 18, 2015 Author Share Posted March 18, 2015 (edited) I hope that builder's costs and profit are based on the original price .... http://www.rightmove.co.uk/new-homes-for-sale/property-32187660.html 18/03/2015 Price changed: from '£1,250,000' to '£1,139,000' 03/02/2015 Price changed: from '£1,520,000' to '£1,250,000' 18/10/2014 Price changed: from '£1,600,000' to '£1,520,000' 06/09/2014 Initial entry found. Edited March 18, 2015 by Damik Quote Link to comment Share on other sites More sharing options...
WatchingFromTheHills Posted March 18, 2015 Share Posted March 18, 2015 It's in Wapping. Wapping. It's in Wapping. Quote Link to comment Share on other sites More sharing options...
Guest_growlers_* Posted March 18, 2015 Share Posted March 18, 2015 Wapping. 24hrs 2/11 sales reduction... 10/18 rental reductions! Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted March 18, 2015 Share Posted March 18, 2015 It's in Wapping. Wapping. It's in Wapping. It's a Wapping price for a small flat. Sorry, someone had to say it. Quote Link to comment Share on other sites More sharing options...
Frick Posted March 18, 2015 Share Posted March 18, 2015 I hope that builder's costs and profit are based on the original price .... http://www.rightmove.co.uk/new-homes-for-sale/property-32187660.html 18/03/2015 Price changed: from '£1,250,000' to '£1,139,000' 03/02/2015 Price changed: from '£1,520,000' to '£1,250,000' 18/10/2014 Price changed: from '£1,600,000' to '£1,520,000' 06/09/2014 Initial entry found. They're also listed with something like 8 different EAs. Still no interest. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted March 18, 2015 Share Posted March 18, 2015 They're also listed with something like 8 different EAs. Still no interest. I can probably enlighten you to why....THE INSANE ASKING PRICE. Quote Link to comment Share on other sites More sharing options...
Guest_growlers_* Posted March 18, 2015 Share Posted March 18, 2015 Brixton 13/17 82% Quote Link to comment Share on other sites More sharing options...
Frick Posted March 18, 2015 Share Posted March 18, 2015 I can probably enlighten you to why....THE INSANE ASKING PRICE. But... but... it's, and I quote, 'very sought after'. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted March 18, 2015 Share Posted March 18, 2015 But... but... it's, and I quote, 'very sought after'. Maybe by someone in China who dreams of one day living in the big smoke squalor that is london. Quote Link to comment Share on other sites More sharing options...
Damik Posted March 18, 2015 Author Share Posted March 18, 2015 Brixton 13/17 82% Corrected for you; anything above 40% is red and bold ... Quote Link to comment Share on other sites More sharing options...
Guest_growlers_* Posted March 18, 2015 Share Posted March 18, 2015 Corrected for you; anything above 40% is red and bold ... Thanks Had a real rush, thought could be 100%! But no. patience... Quote Link to comment Share on other sites More sharing options...
Damik Posted March 19, 2015 Author Share Posted March 19, 2015 (edited) Thanks Had a real rush, thought could be 100%! But no. patience... We call here the 100% of price reductions (at least 10 reductions on single RM page): "Bingo" They did happen in 2008 and 2009 ... Edited March 19, 2015 by Damik Quote Link to comment Share on other sites More sharing options...
FreeTrader Posted March 19, 2015 Share Posted March 19, 2015 (edited) Update on properties highlighted in post #2280 (Radnor Walk, SW3, Sept 2014) No 19 had its asking price reduced yesterday from £3,500,000 to £2,950,000. It was previously purchased in Feb 2012 for £2,515,101. This property appears to have been unoccupied since it was bought. http://www.rightmove.co.uk/property-for-sale/property-43523530.html ------------ No 41 is still on the market and its asking price has been reduced from £4,250,000 to £3,895,000. It was purchased for £3,625,000 in Aug 2013, and so it seems the vendor is attempting to break even on the sale (£3.625m + 7% SDLT = £3.879m). http://www.rightmove.co.uk/property-for-sale/property-46568845.html ------------ No 21 has been withdrawn from sale. Edit: punctuation Edited March 19, 2015 by FreeTrader Quote Link to comment Share on other sites More sharing options...
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