Jump to content
House Price Crash Forum

Recommended Posts

i've seen a lot of price reductions in the last month but this one is the biggest thus far:

http://www.rightmove.co.uk/property-for-sale/property-46170395.html#

13/05/2014
  • Price changed: from '£360,000' to '£300,000'
03/05/2014
  • Initial entry found.

a one off or the start of something big??

300K for that. :lol: :lol: :lol: :lol:

( I see your point and i'm not laughing at you. Those aren't price reductions those are price increases, from the last sale price ).

Share this post


Link to post
Share on other sites

yeah, but think of the discount...how much the buyer will be saving...such a canny purchase to be boasted over drinks.

Share this post


Link to post
Share on other sites

I've seen a reduction on a 2 bed flat from £600k to £450k in my area. This was 3 or 4 months ago though.

It made me laugh though, it was identically the same floor plan/footprint as my spacious 1 bed flat, except they'd crammed a second bedroom in the same space.

Share this post


Link to post
Share on other sites

I've seen a reduction on a 2 bed flat from £600k to £450k in my area. This was 3 or 4 months ago though.

It made me laugh though, it was identically the same floor plan/footprint as my spacious 1 bed flat, except they'd crammed a second bedroom in the same space.

yeah, but, has yours got matching symmetrical twigs on the kitchen windowsill?>..I thought not.

Share this post


Link to post
Share on other sites

Down my way the local Connells regularly run an ad in the local rag.

In the middle a big splash with "House Prices Are Rising".

Alongside these are the individual property ads.

Normally 30% have a red "reduced" triangle in the corner.

Its like that every week.

Share this post


Link to post
Share on other sites

i've seen a lot of price reductions in the last month but this one is the biggest thus far:

http://www.rightmove.co.uk/property-for-sale/property-46170395.html#

13/05/2014
  • Price changed: from '£360,000' to '£300,000'
03/05/2014
  • Initial entry found.

a one off or the start of something big??

What gets me is that the estate agent seems to have taken about 10 seconds to do the listing. No floorplan, few poor photos, short description.. for a 4-figure fee, no doubt.

Share this post


Link to post
Share on other sites

What gets me is that the estate agent seems to have taken about 10 seconds to do the listing. No floorplan, few poor photos, short description.. for a 4-figure fee, no doubt.

Would you spend more than 5 minutes if you knew it was not going to sell?

Share this post


Link to post
Share on other sites

120k in 2004 after refurbishment (bought several months earlier for 88k) so 300k today is very reasonable LOL, I am sure it will be snapped up by some canny investor to add to their portfolio.

And yet you have folk even here still claiming it isn't a bubble. No, no prices will level off here while wages catch up. Bobbins they will.

Share this post


Link to post
Share on other sites

I have been looking at York and cheap flats (100-150) are selling fast, but more expensive flats and houses are taking longer. No evidence of a crash there.

Edited by ThePiltdownMan

Share this post


Link to post
Share on other sites

yeah, but, has yours got matching symmetrical twigs on the kitchen windowsill?>..I thought not.

HOLY SH1T!! I didn't see them, but as it happens, yes I DO HAVE two of those 'symmetrical twigs' (as you call them - they're called Lucky Bamboo and they're live plants as opposed to dead twigs) on my bathroom window.

Now I feel dirty! Thanks. ;)

Share this post


Link to post
Share on other sites

i've seen a lot of price reductions in the last month but this one is the biggest thus far:

http://www.rightmove.co.uk/property-for-sale/property-46170395.html#

13/05/2014
  • Price changed: from '£360,000' to '£300,000'
03/05/2014
  • Initial entry found.

a one off or the start of something big??

Is this the same place..... ? On first glance and Initially looks like it is to me. I can only see one such property that looks like it, on that road, on streetview. The fear....... MMR hehe. All those people who rushed to property at ever higher stupid prices... not earning anything in the bank, where-else you going to put it, renting is dead money.

Sold Price: 17 Oct 2012 Terraced, Freehold £345,000

http://www.rightmove.co.uk/house-prices/detailMatching.html?prop=37078261&sale=48208049&country=england

Edited by Venger

Share this post


Link to post
Share on other sites

Is this the same place..... ? On first glance and Initially looks like it is to me. I can only see one such property that looks like it, on that road, on streetview. The fear....... MMR hehe. All those people who rushed to property at ever higher stupid prices... not earning anything in the bank, where-else you going to put it, renting is dead money.

Sold Price: 17 Oct 2012 Terraced, Freehold £345,000

http://www.rightmove.co.uk/house-prices/detailMatching.html?prop=37078261&sale=48208049&country=england

So the same place. Sink, hob, kitchen, everything identical. This is exactly why I'd be very afraid paying detached from reality prices in London, on property that is far from PCL. The place was a sh*thole 10 years ago, the place was a sh*thole when you paid £345k for it, the place is still a sh*thole now you're asking £300k for it, and will still be a sh*thole when you finally get shot of it for what it's really worth (I wouldn't pay anything btw).

Edit: If they actually got 300k for it, plus buying and selling costs, that's a neat 18 month flip of 60k. Loss.

Edited by Starla

Share this post


Link to post
Share on other sites

And yet you have folk even here still claiming it isn't a bubble. No, no prices will level off here while wages catch up. Bobbins they will.

Does not compute.

em.jpg

post-10812-0-61655000-1400066126_thumb.jpg

Share this post


Link to post
Share on other sites

So the same place. Sink, hob, kitchen, everything identical. This is exactly why I'd be very afraid paying detached from reality prices in London, on property that is far from PCL. The place was a sh*thole 10 years ago, the place was a sh*thole when you paid £345k for it, the place is still a sh*thole now you're asking £300k for it, and will still be a sh*thole when you finally get shot of it for what it's really worth (I wouldn't pay anything btw).

Edit: If they actually got 300k for it, plus buying and selling costs, that's a neat 18 month flip of 60k. Loss.

It's just too good to be true, isn't it? Stay calm Venger. Maybe they've just set that Guide to attract viewers (of the type we know are loopy).

At first I was looking for a logical reason, such as perhaps the sale doesn't include the annex, but it appears to (what I assume is the part behind the gate).

I guess it's also possible council has hit them with council tax on the self-contained annex? It has its own kitchen which from this link, seems to qualify it for additional council tax. http://www.thisismoney.co.uk/money/mortgageshome/article-2525492/Granny-flat-perk-leave-600-bill.html

Hope to see many more such examples of possible softening, or even straight into outright hpc would be fine too.

Share this post


Link to post
Share on other sites

i've seen a lot of price reductions in the last month but this one is the biggest thus far:

http://www.rightmove.co.uk/property-for-sale/property-46170395.html#

13/05/2014
  • Price changed: from '£360,000' to '£300,000'
03/05/2014
  • Initial entry found.

a one off or the start of something big??

The standard of build on some London properties is pretty appalling...this one looks completely tinpot. I guess land values have always been a problem in the capital and hence we get some of the worst properties in the UK with shortcuts on the build.

Edited by crashmonitor

Share this post


Link to post
Share on other sites

Is this the same place..... ? On first glance and Initially looks like it is to me. I can only see one such property that looks like it, on that road, on streetview. The fear....... MMR hehe. All those people who rushed to property at ever higher stupid prices... not earning anything in the bank, where-else you going to put it, renting is dead money.

Sold Price: 17 Oct 2012 Terraced, Freehold £345,000

http://www.rightmove.co.uk/house-prices/detailMatching.html?prop=37078261&sale=48208049&country=england

Defo the same place. I know the road. What a cr*phole! For what you are getting with this one, I think it could be almost more of a unbelievable price than the walthamstow one posted the other week!

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

  • Recently Browsing   0 members

    No registered users viewing this page.

  • The Prime Minister stated that there were three Brexit options available to the UK:   224 members have voted

    1. 1. Which of the Prime Minister's options would you choose?


      • Leave with the negotiated deal
      • Remain
      • Leave with no deal

    Please sign in or register to vote in this poll. View topic


×

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.