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TheCountOfNowhere

I Like To Start The Day With A 15% Drop....

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Venger pointed out that I only do these big drop threads for expensive houses....well here's what looks like modest drop but in % terms it's significant.

http://www.rightmove.co.uk/property-for-sale/property-34884936.html?premiumA=true

24/06/2015
Price changed: from '£235,000' to '£200,000'
So, 15% drop.
In that search area it was 10/21 listings that were drops: 48%

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Is an auction though...and you pay another 5k for the pleasure of winning it! Though that seems to put a lot of people off...rarely do those auctions go for much more than the 'starting bid'

Well, at least it sets a price locally.

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Here's another one sub 500K for Venger.

http://www.rightmove.co.uk/property-for-sale/property-46698652.html?premiumA=true

24/06/2015
Status changed: from 'No Chain, Sold STC' to 'No Chain'
23/06/2015
Status changed: from 'No Chain' to 'No Chain, Sold STC'
30/04/2015
Price changed: from '£450,000' to '£395,000'
01/03/2015
Status changed: Premium Listing, null, null No Chain
28/12/2014
Price changed: from '£495,000' to '£450,000'
12/11/2014
Price changed: from '£525,000' to '£495,000'
24/10/2014
Initial entry found.
25% down. Sale just fallen through.
400K bought you a 5 bed house in a good area of Northants in 2007....£400K to live in wellingborough...not thanks
The difference between End of Summer 2014 and mid summer 2015 is marked.
Edited by TheCountOfNowhere

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Here's another one sub 500K for Venger.

http://www.rightmove.co.uk/property-for-sale/property-46698652.html?premiumA=true

30/04/2015
Price changed: from '£450,000' to '£395,000'
25% down. Sale just fallen through.
400K bought you a 5 bed house in a good area of Northants in 2007....£400K to live in wellingborough...not thanks
The difference between End of Summer 2014 and mid summer 2015 is marked.

More interestingly 3 Castle Lane sold for £415k in March 2007...

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More interestingly 3 Castle Lane sold for £415k in March 2007...

And the northants land reg is 8% below the 2008 peak....so needs to sell for 381K to match that.

Before FLS/HTB2 it would have been about 320K.

I think we are heading back to pre-HTB2 prices soon enough.

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South East? - my old neighbour, over the year, has reduced his price by 1\3, and now gone to auction - with no bids.

Who'd thunk it.

I do like a pro-HPC anecdote.

Makes me smlle every time.

There's about 10 insanely priced houses up for sale round me now. It looks like supply has hit the market but nothing seems to be shifting. Inclduing one massive house from May last year that held an open day, had queues out the door...no buyers....still no buyers.

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South East? - my old neighbour, over the year, has reduced his price by 1\3, and now gone to auction - with no bids.

where?

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More interestingly 3 Castle Lane sold for £415k in March 2007...

Probably bought by a desperate* London commuter in 2007. Wellingborough can be as little as 45 mins by train to London...although paradoxically a season ticket is 30% more than one from Cambridge (an hour away from London) last time I looked, which perhaps puts many off.

*I say desperate because generally speaking, central wellingborough isnt considered a particularly great area. Next time there's riots, they'll be the first to be looted!

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*I say desperate because generally speaking, central wellingborough isnt considered a particularly great area. Next time there's riots, they'll be the first to be looted!

Read as: It's a right s**thole.

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