yes Posted November 25, 2014 Share Posted November 25, 2014 A friend has just exchanged on an apartment for £1.1m in Kensington. Interestingly it was on market at £1.49m and had an accepted offer at £1.45m which fell through. First real deal I have seen - I think the crash is full-on. Quote Link to comment Share on other sites More sharing options...
WatchingFromTheHills Posted November 25, 2014 Share Posted November 25, 2014 Interesting. How does that compare with pre-madness prices? Quote Link to comment Share on other sites More sharing options...
Untoward Posted November 25, 2014 Share Posted November 25, 2014 I was looking forward to seeing this thread begin. Quote Link to comment Share on other sites More sharing options...
Eddie_George Posted November 25, 2014 Share Posted November 25, 2014 Still makes me feel sick that people can pay £1 million for a flat anywhere in this country. Quote Link to comment Share on other sites More sharing options...
Untoward Posted November 25, 2014 Share Posted November 25, 2014 And that knocking the price down to £1.1million is some kind of victory. Quote Link to comment Share on other sites More sharing options...
Eddie_George Posted November 25, 2014 Share Posted November 25, 2014 What's the LTV? Did the money come from previous HPI gains? Quote Link to comment Share on other sites More sharing options...
lastlaugh Posted November 25, 2014 Share Posted November 25, 2014 A friend has just exchanged on an apartment for £1.1m in Kensington. Interestingly it was on market at £1.49m and had an accepted offer at £1.45m which fell through. First real deal I have seen - I think the crash is full-on.Interesting!Is your friend in the property industry? The reason I ask is because in the London dip circa 2008/9, I found it impossible to pick out the distressed sellers from the background kite-flying noise. I eventually realised it was futile because the property insiders had already taken the bargains for themselves and their mates. Quote Link to comment Share on other sites More sharing options...
Blod Posted November 25, 2014 Share Posted November 25, 2014 If you pay £1m for a flat then an annual £12k service charge should be no problem. Quote Link to comment Share on other sites More sharing options...
yes Posted November 25, 2014 Author Share Posted November 25, 2014 Interesting! Is your friend in the property industry? The reason I ask is because in the London dip circa 2008/9, I found it impossible to pick out the distressed sellers from the background kite-flying noise. I eventually realised it was futile because the property insiders had already taken the bargains for themselves and their mates. Yes in the property industry and focussed on the area. Quote Link to comment Share on other sites More sharing options...
yes Posted November 25, 2014 Author Share Posted November 25, 2014 Interesting. How does that compare with pre-madness prices? I wold say in c. 2010, this would have been 650-750k. So still a long way to go. Quote Link to comment Share on other sites More sharing options...
yes Posted November 25, 2014 Author Share Posted November 25, 2014 What's the LTV? Did the money come from previous HPI gains? All cash to flip Let's see how this ends. Quote Link to comment Share on other sites More sharing options...
yes Posted November 25, 2014 Author Share Posted November 25, 2014 What's the LTV? Did the money come from previous HPI gains? No loan - yes money made from previous HPI gains. Quote Link to comment Share on other sites More sharing options...
yes Posted November 25, 2014 Author Share Posted November 25, 2014 I am hearing the whole Kensington/Chelsea/Fulham area is down 30-35% from inflated asking prices. The drop is probably 15% from the peak so far. Quote Link to comment Share on other sites More sharing options...
Liquid Goldfish Posted November 25, 2014 Share Posted November 25, 2014 I am hearing the whole Kensington/Chelsea/Fulham area is down 30-35% from inflated asking prices. The drop is probably 15% from the peak so far. Do you mean sold prices are down 15% from peak? (I know someone who bought there in February) Quote Link to comment Share on other sites More sharing options...
yes Posted November 25, 2014 Author Share Posted November 25, 2014 Do you mean sold prices are down 15% from peak? (I know someone who bought there in February) Yes, sold prices are down c. 15% from peak. definitely 12%+ Quote Link to comment Share on other sites More sharing options...
Liquid Goldfish Posted November 25, 2014 Share Posted November 25, 2014 Yes, sold prices are down c. 15% from peak. definitely 12%+ Oops! - I'd imagine February was right at the peak as well! Quote Link to comment Share on other sites More sharing options...
Blod Posted November 25, 2014 Share Posted November 25, 2014 According to the FT the Ruskis are back.... and that lower asking prices have stimulated activity. http://www.ft.com/cms/s/0/a3fccca8-7485-11e4-8321-00144feabdc0.htmlSales of £10m-plus London homes ‘up by a third’ So they sold three £10m-plus homes and now they've sold four. Maybe they've all been "reduced" to sell? Quote Link to comment Share on other sites More sharing options...
yes Posted November 25, 2014 Author Share Posted November 25, 2014 Another one I know was on market for £6m and finally sold for £4.8. Similar would have sold at peak for £5.5m. Quote Link to comment Share on other sites More sharing options...
repetitive bleats Posted November 25, 2014 Share Posted November 25, 2014 This looks like a tasty reduction from £480k down to £350k. Until you realise they paid £228k for it in 2012.http://www.zoopla.co.uk/for-sale/details/34494529 Quote Link to comment Share on other sites More sharing options...
yes Posted November 25, 2014 Author Share Posted November 25, 2014 and more importantly, there is nothing between now and the general election to provide any support to falling prices Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted November 25, 2014 Share Posted November 25, 2014 Some crash,a million for a flat worth 400k Quote Link to comment Share on other sites More sharing options...
John The Pessimist Posted November 25, 2014 Share Posted November 25, 2014 and more importantly, there is nothing between now and the general election to provide any support to falling prices Don't underestimate The Gidiot! HTB3, Stamp Duty Relief, PPI like payouts for breast implants, pensions smash & grabs. Anything is possible just to keep the wheels nailed on to this shyte cart of an economy.,,,,. Quote Link to comment Share on other sites More sharing options...
Untoward Posted November 25, 2014 Share Posted November 25, 2014 (edited) Don't underestimate The Gidiot! HTB3, Stamp Duty Relief, PPI like payouts for breast implants, pensions smash & grabs. Anything is possible just to keep the wheels nailed on to this shyte cart of an economy.,,,,. Gidiot and Dave discussing the Autumn Statement. Edited November 25, 2014 by Untoward Quote Link to comment Share on other sites More sharing options...
shindigger Posted November 25, 2014 Share Posted November 25, 2014 Osborne is bound to stick the spanner in. Its all they stand for. Quote Link to comment Share on other sites More sharing options...
dances with sheeple Posted November 25, 2014 Share Posted November 25, 2014 Gidiot and Dave discussing the Autumn Statement. Quote Link to comment Share on other sites More sharing options...
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