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spunko2010

Prices Dropping In Kent

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I've seen a few price drops on properties that went under offer/sold and then re-appear 4-6 months later with a new price. Good example is this one:

http://www.rightmove.co.uk/property-for-sale/property-45188095.html

£850k > Sold > back on 6 months later at £725k

Interesting that it now says:

  • Attractively Priced For Quick Sale

Anyone want to hazard a guess why they're so quick to sell?

I'll post a few more later within 10 miles of this one, there's been at least 10 in the past 2 months.

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I've seen a few price drops on properties that went under offer/sold and then re-appear 4-6 months later with a new price. Good example is this one:

http://www.rightmove.co.uk/property-for-sale/property-45188095.html

£850k > Sold > back on 6 months later at £725k

Interesting that it now says:

  • Attractively Priced For Quick Sale

Anyone want to hazard a guess why they're so quick to sell?

I'll post a few more later within 10 miles of this one, there's been at least 10 in the past 2 months.

Nice one.

I'm seeing the same in Northants.

I said a while back the Northants market has suddently got so insane that the prices of s**t houses in s**t areas are crazier ithat the S.E. prices.

This is a good example. I'd be more tempted to buy that than any number of 700K houses locally.

The thing is, the asking prices and agents have just put us all doing any viewings at all until something really collapses.

You reap what you sow.

Edited by TheCountOfNowhere

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I'm no expert but my gut feeling is the actual selling price of that one is probably going to be about £650-680k going by others sold nearby. It's in an average village and there's plans for 500 new homes in an adjacent field. Did the vendor realise that £899k is beyond whatever is passed cloud cuckooland , or did the bank put the brakes on their fantasy as they're in financial dire straits?

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I'm no expert but my gut feeling is the actual selling price of that one is probably going to be about £650-680k going by others sold nearby. It's in an average village and there's plans for 500 new homes in an adjacent field. Did the vendor realise that £899k is beyond whatever is passed cloud cuckooland , or did the bank put the brakes on their fantasy as they're in financial dire straits?

I'd imagine they thought they'd cash in with the london boom last year but will have missed the boom by 6 months, maybe.

I'd imagine there are a lot of people in that position now and them that bought with the ill gotten london gains and their 3% mortgages will now be looking at huge leverage losses.

Thats the problems with an insane housing market, you can win big by leveraging up when prices are rising but if you lever up on the down side you are going to loose big time.

Still, not to worry.

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Will definitely do that, thanks. Just to confirm it's a 21% drop in a year. I might open a bottle of Kentish ale to celebrate.

I live in mid Kent. I'd be interested to know if the London crash if/when it happens - if it hasn't starting already - will fizzle outwards geographically? In other words will it move outwards to the home counties and then radiate further out. There are obviously some hot pockets full of Londoners like Cornwall. Am I right in assuming Kent will bear the brunt of it. Sadly I'm not old enough to remember anything but the 2008 minicrash.

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I've seen a few price drops on properties that went under offer/sold and then re-appear 4-6 months later with a new price. Good example is this one:

http://www.rightmove.co.uk/property-for-sale/property-45188095.html

£850k > Sold > back on 6 months later at £725k

Interesting that it now says:

  • Attractively Priced For Quick Sale

Anyone want to hazard a guess why they're so quick to sell?

I'll post a few more later within 10 miles of this one, there's been at least 10 in the past 2 months.

That's Fergus Wilson country - Ashford.

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Few more from the higher end of the market that seems to be dropping quicker now:

http://www.rightmove.co.uk/property-for-sale/property-33413598.html?premiumA=true

http://www.rightmove.co.uk/property-for-sale/property-31180458.html

http://www.rightmove.co.uk/property-for-sale/property-51226328.html

A lot of these being reduced seem to be 'Premium' listings... A red flag for a desperate seller maybe ^_^

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I won't post the link but there's a property on Rightmove nearby that a relative is now buying. Asking price was 'OEIO £420k', the agent said they would accept only above... however a few weeks later eventually relented and said the vendor will accept £375k. Interestingly it sold for £380k in 2007 and they've done work to it since (prob around £20k) so have made a loss accounting for inflation over 9 years...

You are right Count, London and Kent are (sadly) too intertwined. I live in the sticks, just far enough away from any London commuters, prices will tumble in commuter villages soon.

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http://www.rightmove.co.uk/property-for-sale/property-44413744.html

http://www.rightmove.co.uk/property-for-sale/property-50045213.html

Does anyone know why people are reducing their asking prices after their property comes back on the market? It's strange. 'Under Offer' then it goes back to 'Available' but they reduce the price at the same time. Surely if there's already been an offer they would keep the price the same? Weird...

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I bought on the edge of Kent/London back in 2012.

Typical three bed Victorian terrace in a quaint village... I paid (Then) £210,000.

Zone 6 and half an hour to work.

I was lucky with my timing and the price I managed: But I was still a 39 year old man on a good salary buying what should be a starter home for a 20-something.

They peaked from that price to almost £100k more over the next year, but have been coming back down since.

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