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Examples of big & multiple drops


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1 hour ago, Ash4781 said:

A lot of the reductions posted suggest to me buyers are struggling for viewings (beyond the seasonal normal). My gut feeling is demand has collapsed. 

This is an interesting thread!

The RICS survey agreed with you there... Low interest from buyers, and getting worse. 3D sellers (debt divorce death) will have to rapidly lower their prices as they don't have the choice to wait until the market improves.

I wish we had stats on number of Rightmove listings by postcode!

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14 minutes ago, 17clarence said:

Don't like being told what's realistic by an estate agent. Think there's a sell-off in Lake District holiday lets, not sure whether it extends to other tourist spots.

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On 29/10/2018 at 17:47, darkmarket said:

These guys just losing it today:

https://www.zoopla.co.uk/for-sale/details/46671581

Price history

Sold prices provided by Land Registry

29th Oct 2018 £575,000 Price reduced by £24,950
29th Oct 2018 £599,950 Price increased by £24,950
29th Oct 2018 £575,000 Price reduced by £24,950
29th Oct 2018 £599,950 Price increased by £24,950
11th Oct 2018 £575,000 Price reduced by £24,950
23rd May 2018 £599,950 Price reduced by £65,050
23rd Apr 2018 £665,000 Price reduced by £30,000
19th Mar 2018 £695,000 Price reduced by £25,000
20th Feb 2018 £720,000 First listed
19th Mar 2018 £720,000 Last sold

Almost tempting - the flat has its own entrance, is in Kensington and a jacuzzi and a sauna too it seems from the floor plan! But the bedrooms look pokey and it is lower ground floor!

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https://www.rightmove.co.uk/property-for-sale/property-55969311.html

09/11/2018 Price Changed: £500,000 £480,000
06/09/2018 Price Changed: £545,000 £500,000
08/08/2018 Initial entry found.

 

Probate SALE, this next one?  https://www.rightmove.co.uk/property-for-sale/property-75788672.html

10/11/2018 Price Changed: £399,950 £345,000
04/10/2018 Price Changed: £425,000 £399,950
23/09/2018 Initial entry found.
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Leighton Buzzard has been an area Londoner's have been buying in and judging from the previous lack of properties to rent, these have been FTB'ers.

This came up in my old search today

https://www.rightmove.co.uk/property-for-sale/property-67212289.html

Price Change History
13/11/2018 Price Changed: £300,000 £277,500
25/10/2018 Price Changed: £318,500 £300,000
15/10/2018 Price Changed: £325,000 £318,500
29/08/2018 Initial entry found.
Edited by Flopsy
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Quite a few of these new builds below for sale in North Devon at big price drops-expect more. I have said before, small housebuilders seem to be really struggling so I wonder how the large ones are doing. In Kent here we have just had about another 1200 homes approved near Ashford, planning permission for large multiple thousand, more or less new town, Otterpool due by end of year near Hythe. All coming up towards a big crucnch. Might be some good bargains in a year or two. If any of us have any money that hasn't been inflated away!

https://www.rightmove.co.uk/property-for-sale/property-65766952.html

Price Change History
14/11/2018 Price Changed: £205,000 £179,950
04/10/2018 Price Changed: £215,000 £205,000
14/06/2018 Initial entry found.
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And more in North Devon - this would be nice if it had a garden

https://www.rightmove.co.uk/property-for-sale/property-66972574.html

Price Change History
16/11/2018 Price Changed: £158,000 £146,000
30/10/2018 Price Changed: £165,000 £158,000
04/10/2018 Price Changed: £174,950 £165,000
15/08/2018 Initial entry found.
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On ‎10‎/‎11‎/‎2018 at 20:04, Longtermrenter said:

https://www.rightmove.co.uk/property-for-sale/property-55969311.html

09/11/2018 Price Changed: £500,000 £480,000
06/09/2018 Price Changed: £545,000 £500,000
08/08/2018 Initial entry found. 

 

Probate SALE, this next one?  https://www.rightmove.co.uk/property-for-sale/property-75788672.html

10/11/2018 Price Changed: £399,950 £345,000
04/10/2018 Price Changed: £425,000 £399,950
23/09/2018 Initial entry found.

The £480K one is now reported as SSTC.  Wonder what it went for...

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9 hours ago, Council estate capitalist said:

Kitchen in the living room, It'll be like living in a 1 bed flat only with a bigger mortgage.

I have lived in a couple of open plan places - cooking anything stinky like fish is a nightmare as the whole living room stinks as well. If you have guests and you are cooking you become paranoid about every hair, sneeze, touch of face (ok, shouldn't be doing any of that cooking but you know what I mean) plus your back is to them the whole time while you cook or you are trying to gamely entertain whilst cooking. If something starts to go wrong with the cooking in front of everyone it is a nightmare! Not for me...

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15 hours ago, Longtermrenter said:

And more in North Devon - this would be nice if it had a garden

https://www.rightmove.co.uk/property-for-sale/property-66972574.html

Price Change History
16/11/2018 Price Changed: £158,000 £146,000
30/10/2018 Price Changed: £165,000 £158,000
04/10/2018 Price Changed: £174,950 £165,000
15/08/2018 Initial entry found.

I'm obviously going mad, bit that almost looks tempting. Two bedder nearby went for 122k.

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21 hours ago, Longtermrenter said:

Quite a few of these new builds below for sale in North Devon at big price drops-expect more. I have said before, small housebuilders seem to be really struggling so I wonder how the large ones are doing. In Kent here we have just had about another 1200 homes approved near Ashford, planning permission for large multiple thousand, more or less new town, Otterpool due by end of year near Hythe. All coming up towards a big crucnch. Might be some good bargains in a year or two. If any of us have any money that hasn't been inflated away!

https://www.rightmove.co.uk/property-for-sale/property-65766952.html

Price Change History
14/11/2018 Price Changed: £205,000 £179,950
04/10/2018 Price Changed: £215,000 £205,000
14/06/2018 Initial entry found.

Remember those Irish new build towns that were demolished because nobody lived there.... Deja vu...

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Wolverton (Close to Milton Keynes)

More ridiculous asking prices 

Price Change History
19/11/2018 Price Changed: £390,000 £350,000
09/11/2018 Price Changed: £400,000 £390,000
05/11/2018 Price Changed: £425,000 £400,000
05/10/2018 Initial entry found.

 

https://www.rightmove.co.uk/property-for-sale/property-67840432.html

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Some see sawing around but not selling (Milton Keynes)

rice Change History
19/11/2018 Price Changed: £525,000 £525,000
19/11/2018 Price Changed: £536,950 £525,000
25/09/2018 Price Changed: £543,995 £536,950
06/09/2018 Price Changed: £537,500 £543,995
03/08/2018 Price Changed: £550,000 £537,500
30/07/2018 Price Changed: £575,000 £550,000
27/07/2018 Initial entry found.

https://www.rightmove.co.uk/property-for-sale/property-55718157.html

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7 hours ago, spacepidgeon said:

https://www.zoopla.co.uk/for-sale/details/44085155?search_identifier=6e56db40eaf796f461c0ded1e6637f40

masiff!

12th Sep 2018 £450,000 Price reduced by £324,950
14th Mar 2018 £774,950 Price reduced by £25,000
6th Aug 2017 £799,950 Price reduced by £25,050
8th Jun 2017 £825,000 First listedimage.gif.cabf9394ac69dfcce8da129b8e9c9ae6.gifimage.gif.ac05c2a67efc5ae70a2f2ad8893a7b8f.gifimage.gif.5d25fd3e8ea1759ee04c7990f8b81940.gifimage.gif.593deed0c049925754a98e13312e6d34.gifimage.gif.fecf2765bd8785bfed79f56e488cb748.gif

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Big last drop. Horrible house 

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Nice to see a property in Brighton reverting to 2016 sold price. The devil is probably in the lease or the bathroom.

https://www.zoopla.co.uk/for-sale/details/48933211?search_identifier=2e7c2e1a8b1d89241d0fc50d5d0c8e81

Price history

Sold prices provided by Land Registry

7th Nov 2018 £215,000 Price reduced by £5,000
1st Nov 2018 £220,000 Price reduced by £5,000
5th Sep 2018 £225,000 First listed
17th Oct 2016 £216,000
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2 hours ago, hurlerontheditch said:

Big last drop. Horrible house 

People scoff(ed) at predictions of 40%+ price drops - but there's a near 50% drop in asking price, and still not selling...

As the avalanche builds, won't be long before these drops start to really show in the stats. Then buyers will vanish like Scotch mist on a sunny morning, accelerating the effect.

...just like the bursting of all previous speculative bubbles predicated on easy money, strangely enough.

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1 hour ago, zilly said:

People scoff(ed) at predictions of 40%+ price drops - but there's a near 50% drop in asking price, and still not selling...

As the avalanche builds, won't be long before these drops start to really show in the stats. Then buyers will vanish like Scotch mist on a sunny morning, accelerating the effect.

...just like the bursting of all previous speculative bubbles predicated on easy money, strangely enough.

That was some serious kite flying for a semi in Liverpool though wasn't it, even if it did have 'character'? Is it possible to find out what it was last purchased for?

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