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slash prices by £1m

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https://www.standard.co.uk/news/london/homeowners-slash-1m-off-house-after-receiving-no-offers-in-two-years-a3665131.html

Jonas Hall and his wife wiped £995,000 off the price for their home in upmarket Winchmore Hill in seven reductions as they have failed to sell in London’s struggling housing market.

The extreme price cut is among growing numbers of properties with reducing asking prices in the capital. Two months ago the Standard revealed that a mansion in Clerkenwell has had its priced halved from £8 million to £4 million after four years on the market.

Uncertainty over Brexit, concern about an imminent rise in interest rates and high stamp duty rates have all hit confidence in the London property market over the past year.

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If its anything like Norfolk the price was never ever that high to start with.

As posted before 2016 price = sale

100k more for same thing in 2017 = no sale

Thats not a crash thats hitting the limit of affordability at current supply (which is dire).

It looks like they are spot on the zoopla valuation now from an insane 1.9 million.......the last actual sale was for 655k

The shocking thing is this is inside the M25 I dont know if tis a nice area but if this was in NR2 it would be listed at 600-700k and even in Thorpe End circa 500k.

If it is a nice area inside the M25 near work then it shows how shocking it is round here.

Edited by Fromage Frais

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7 minutes ago, BearlyBegun said:
20/07/2001 £440,000 3 Griffins Close, London, N21 2EW

 

 

EDIT to add: Zoopla Estimate: £982,000

£1m off,  how much on from last sale, 500K is it ?

 

Terrible reporting.

Headline should be

 

"greedy c**t fails to sell his house for 4x buying prices to some mug punter from london, now down to 2x"

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3 minutes ago, TheCountOfNowhere said:

£1m off,  how much on from last sale, 500K is it ?

 

Terrible reporting.

Headline should be

 

"greedy c**t fails to sell his house for 4x buying prices to some mug punter from london, now down to 2x"

Not quite so posh one you exit the close.

59f0a71509f06_ScreenShot2017-10-25at15_59_48.png.dba7520743ada181ad41a29219060683.png

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10 minutes ago, TheCountOfNowhere said:

£1m off,  how much on from last sale, 500K is it ?

 

Terrible reporting.

Headline should be

 

"greedy c**t fails to sell his house for 4x buying prices to some mug punter from london, now down to 2x"

Quite right... the trend for that area over 10 years is nothing special - they overpriced it by more than 900k in the first place so it shouldn't be a shock they haven't had a single offer!

At least they got a free news advert 

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  • 297 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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