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Mikhail Liebenstein

Massacre Of Millionaire Mansions

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According to the Daily Mail (so it must be true), high end properties have seen their price plunge by as much as £9m.......

Alll apparently due to stamp duty increases. Of course this is nothing to do with Russia and China tightening up on dodgy cash, and the slow downs in those economies; nor the fact that London was grossly over-inflated by low interest rates and international cash.

http://www.dailymail.co.uk/news/article-3446014/Massacre-millionaires-mansions-Stamp-duty-hikes-send-high-end-house-prices-plummeting-9million.html

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BTW, hasn't Windlesham Court (one example listed) confused my as I mixed it up with Updown Court also in Windlesham.

That was listed for £70m, but when it actually was sold only went for £19m (I say only).

http://www.getsurrey.co.uk/news/surrey-news/updown-court-history-controversial-lavish-8829108

WOT!?! :huh:

Well - Let's face it guys --- We all know that ALL these "prices" have been are & still are UTTERLY INSANE.

So far we're seeing 20% drops -- but really -- to go back to sustainability and SANITY - Further drops of 80-85% to go....... :P

Edited by eric pebble

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WOT!?! :huh:

Well - Let's face it guys --- We all know that ALL these "prices" have been are & still are UTTERLY INSANE.

So far we're seeing 20% drops -- but really -- to go back to sustainability and SANITY - Further drops of 80-85% to go....... :P

Agree.

We have become de-sensitised to this madness and now the more realistic prices seen 15 years ago seem ridiculous.

I am still resolved to not even participating for another year or two.

If I were to enter any offers now, the amounts I would put forward would be met with ridicule.

However any one now making a purchase must be considering the possibility of negative equity.

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"An eight-bedroom mansion in Windlesham, Surrey, has been reduced by nearly £5 million to £19.75 million"

Any mention of these places going from £1M to £20m in the space of 15 years ?

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