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maverick73

Semi Detached House Stanmore

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1 hour ago, maverick73 said:

The house now has dropped its asking price to £625,000... still no takers... ?

I don't know the area that well. Was £775k ever an achievable price based on past sales?

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39 minutes ago, worried1 said:

I don't know the area that well. Was £775k ever an achievable price based on past sales?

No. I'm viewing prices trickle downwards. My presumption is that anyone who drops prices that aggressively is in a rush to bailout.

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8 hours ago, AvoidDebt said:

Barrat are trying to flog new build 2 bed flats in the borough for 650. 

http://www.rightmove.co.uk/s6p/66900134

It's a very different market. I don't know if this is the same development:

http://www.harrowtimes.co.uk/news/14228672.Derelict_offices_in_central_Harrow_being_transformed_into__vital_housing_/

I recently saw another article that said all but one of the 'vital' flats had been sold to foreign investors! I'll try to find the link.

It is a very convenient status-quo for the developers and the councils. The developers are allowed to build and sell on at inflated prices to foreign investors whilst the council are still seen to be providing 'new housing'. None of it is of any any interest to potential owner-occupiers who will either take their £650k and buy a house with it or buy a vastly cheaper flat and benefit from a much smaller mortgage.

This is rife in the borough of Kingston where I live, some of the deals would be seen as outright criminal if we were in any other economic phase. It will be looked back upon as a very dark period in our development in my opinion, lots of ugly, overly dense housing developments built in unsuitable areas, and no benefit to anyone apart from greedy developers and councillors.

 

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This house was / is on the market at £675k....... then went down to £650 - Link

Now its on the market auction guide between £525k to £550k... in hope of making a fool pay more than the actual worth of the property.... Link (5 bed detached).

In turn the neighbour also drop there price from £575k to £559k (3 bed semi detached).

 

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12 hours ago, maverick73 said:

This house was / is on the market at £675k....... then went down to £650 - Link

Now its on the market auction guide between £525k to £550k... in hope of making a fool pay more than the actual worth of the property.... Link (5 bed detached).

In turn the neighbour also drop there price from £575k to £559k (3 bed semi detached).

 

went for 465 in 2013 

looks 400k to me 

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10 hours ago, longgone said:

went for 465 in 2013 

looks 400k to me 

Yep, but a fool will see it as a bargain... it's the current market sales ploy to keep the engines purring ?

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