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999house

Flat race to the bottom

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I can't imagine why anyone would choose to live there if they had any choice.  Its in the middle of a major set of road intersections, effectively its on a roundabout.

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46 minutes ago, 999house said:

Seeing lots of empty flats in Reading with reductions as landlords get desperate. 1,000 a month used to be the norm for a decent place...

http://www.rightmove.co.uk/property-to-rent/property-45487516.html

This guy is willing letting for 80% of market value apparently. 

I think we need to discuss the meaning of "market value" again.

Market value is the price that your goods of services achieve in an open market. Hence, selling below or above it in the open market is technically impossible.

Class dismissed.

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It is indeed on HTB [Help to buy] Scheme, not available for all buyers.

@dougless I'm not from Reading but that does look pretty central. A single young professional wanting to live the Reading nightlife? :D 

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47 minutes ago, kibuc said:

I think we need to discuss the meaning of "market value" again.

Market value is the price that your goods of services achieve in an open market. Hence, selling below or above it in the open market is technically impossible.

Not impossible - if you had an proceedable offer at the higher price but gave a discount on that price ... but the spirit is right, if this is the highest proceedable offer then it is by definition the market value.

Edited by goldbug9999

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A country full of apartments, that are not attainable to it residents results in one thing..... how low does the value have to go before the bees are attracted to the honey.

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Just on my way back from a visit to Reading.  Interestingly there were signs up all across the place proclaiming

" I buy houses! Fast cash!" 

Not seen that before, distressed sellers starting to appear on the market.

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6 hours ago, dougless said:

I can't imagine why anyone would choose to live there if they had any choice.  Its in the middle of a major set of road intersections, effectively its on a roundabout.

Something something crossrail

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I can see its attraction for some people.  Most of the people I have met whilst working in London, live out that way, or out east, south east.  Not many live in London, including 90k a year professionals.  I do think London is priced out for most folk.

However, I work West London, on Oxford street, for my latest client, and it's about a 25 min walk from Paddington, so that flat is about 1.5 hours from Oxford street, which makes it appear attractive to be honest.  I currently use a hotel in wembley, which takes me about 45 mins into my client office at about £260 a week.  Give me a 1 bed in Reading that is that close to the station for about £400-500 and I'd be interested.

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