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TheCountOfNowhere

I Like To Start The Day With A....£150K Drop Over 1 Year

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I just wish I'd snapped up a bargain in the last 12 months:

http://www.rightmove.co.uk/property-for-sale/property-42848714.html

26/08/2014
Agent changed: Acorn Sales & Lettings
Price changed: from '£499,995' to '£445,000'
16/06/2014
Price changed: from '£525,000' to '£499,995'
08/05/2014
Price changed: from '£545,000' to '£525,000'
12/04/2014
Price changed: from '£575,000' to '£545,000'
13/01/2014
Price changed: from '£595,000' to '£575,000'
24/08/2013
Brief Description changed: An individual detached property offering generously sized accommodation accommodation, over 2500 square feet, and enjoying a convenient position on the edge of Hatton Park. This is a great opportunity to purchase a family home in one of the best areas and an early viewing is considered essential.
20/08/2013
Initial entry found.
Still over priced IMHO.

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Clearly a higher end property. So let say someone on a higher end salary want to buy it. A higher end household income in the area is probably 70-80k. So if we take four times salary multiple. Price should be somewhere in the £280k to £320k range.

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Rentals in that postcode are amazing

At the peak of the 2007 madness price per square foot for decent houses round northampton were going about £225 per sq ft. Wellingborough way has always been much cheaper.

This one started out at £238 per sq foot/

Now down to £178 per sq ft, which is probably still the peak price for for that area.

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Only way that would sell for over £400k is if it was in the redhill grange development (ie not actually 'in' Wellingborough) or one of those old steamers on that hatton park bit.

I was thinking *maybe* it would sell for that if you could subdivide the plot, but it seems that large side garden is the rear garden (ie there is no rear garden) so that's difficult.

Yes, Wellingborough is a funny place, originally London overspill and carribeans I guess employed by whatever industry it had in the 60s, now it seems more favoured by eastern Europeans. Im sure it was once a nice little market town, but like most northants towns its now a combination of big ex-local authority estates and some 90s on private estates and looking a bit tired.

However, its close enough to beds and bucks to support some high earners. Wellingborough is only 10 miles or so outside what is considered the 'southeast' and probably the cheapest place to by a house within a 45 minute train commute to London.

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Still 100k+ more than its worth. Just look at previous sale prices. God, I hope George Osborne has the most painful of deaths....

Since 2007 inflation is about 25%. That means paying £445k you are handing over pounds only worth £334k compared to then. Is that your £100k?

If you think that ones bad come to Cheshire. A new build 5 bed in a courtyard type setting for a mere £695k.

http://www.rightmove.co.uk/property-for-sale/property-40742582.html

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