Roman Roady Posted December 29, 2021 Share Posted December 29, 2021 A big 42% reduction in Bude, not sure what the story is... https://www.rightmove.co.uk/properties/109830713#/?channel=RES_BUY Price Change History 26/12/2021 Price changed from £175,000 to £120,000 08/10/2021 Price changed from £195,000 to £175,000 20/07/2021 Price changed from £210,000 to £195,000 02/07/2021 Initial entry found: £210,000 Quote Link to comment Share on other sites More sharing options...
Fromage Frais Posted December 29, 2021 Share Posted December 29, 2021 (edited) 2 hours ago, Pop321 said: I found this fascinating. They thing that struck me was how cheap houses were to buy in the US compared to Median household income. Indeed California is out of step and like London the house prices are massive but the income, whilst higher, doesn’t reflect the higher house prices. So (ignoring the huge bandwidth) I looked at averages for the UK and US for income v house prices. Average House Price v Average Median Household Income US - 408k/79.9k = 5.1 UK 270k/31.2k = 8.65 So the UK average price would be more like £160k rather than £270k if it mirrored the US prices. Funnily enough £160k sounds about right to me. So that daft US country with low incomes, poor health care etc have more affordable housing and in some areas very affordable based on local incomes. Appreciate how different our countries are but it was interesting and in particular to see how cheap it is to but in some states whilst the average income is still ‘relatively’ good. A good xx% of homes is speculation. The US was of taxing is fundamentally better and deters rather than prevents that % getting as high as in the UK. Business rates does the same thing here, remove business rates and commercial property will shoot up in cost and be left empty for longer. Yes they have booms and busts in the US but they get through them much quicker than here due to the cost of carry. Here we stimulate and then have to keep tweaking to try and lock in that XX% speculation. Edited December 29, 2021 by Fromage Frais Quote Link to comment Share on other sites More sharing options...
Pop321 Posted December 29, 2021 Share Posted December 29, 2021 10 minutes ago, Fromage Frais said: A good xx% of homes is speculation. The US was of taxing is fundamentally better and deters rather than prevents that % getting as high as in the UK. Business rates does the same thing here, remove business rates and commercial property will shoot up in cost and be left empty for longer. Yes they have booms and busts in the US but they get through them much quicker than here due to the cost of carry. Here we stimulate and then have to keep tweaking to try and lock in that XX% speculation. Thing is it’s not even a big % but of course if you push this up to £2m New York flats suddenly on a % basis it’s massive in comparison to rates. Average Joe seems to be paying less in tax than we do in rates. Interesting for a ‘capitalist’ country like the US to have what appears to be a ‘fairer’ system. Also seems to be a better correlation between higher local property tax and amount spent on education. Food for thought particularly when looking at the cost London infrastructure v’s say Leeds or York, when the house prices are higher in London but the rates aren’t Genuine Apologies - very ‘off thread’ on a thread that remains brilliantly ‘on thread’….just found it an interesting fact and something I hadn’t really seen in such black and white before. Quote Link to comment Share on other sites More sharing options...
bearishonhouses Posted December 29, 2021 Share Posted December 29, 2021 6 hours ago, Pop321 said: I found this fascinating. They thing that struck me was how cheap houses were to buy in the US compared to Median household income. Indeed California is out of step and like London the house prices are massive but the income, whilst higher, doesn’t reflect the higher house prices. So (ignoring the huge bandwidth) I looked at averages for the UK and US for income v house prices. Average House Price v Average Median Household Income US - 408k/79.9k = 5.1 UK 270k/31.2k = 8.65 So the UK average price would be more like £160k rather than £270k if it mirrored the US prices. Funnily enough £160k sounds about right to me. So that daft US country with low incomes, poor health care etc have more affordable housing and in some areas very affordable based on local incomes. Appreciate how different our countries are but it was interesting and in particular to see how cheap it is to but in some states whilst the average income is still ‘relatively’ good. I would add that on average, US houses are also far bigger - with better facilities (e.g. basements & multiple bathrooms) and rooms are often not allowed to be described as bedrooms unless they have a built in closet. And the listed square footage is only that for living rooms and bedrooms - and generally excludes halIways, bathrooms, kitchens,. (It is a mystery to me how UK Estate Agents get to their reported square footage.) US are about 1800 sf, in the UK - closer to 1100 sf. (see https://www.dwh.co.uk/advice-and-inspiration/average-house-sizes-uk/ and https://www.newser.com/story/225645/average-size-of-us-homes-decade-by-decade.html ) otoh, comparing pre-1970 houses, those in the UK are generally far more solidly built. (This may also be true in later periods too, but I get the impression that many newer UK houses are thrown together too.) Quote Link to comment Share on other sites More sharing options...
Roman Roady Posted December 29, 2021 Share Posted December 29, 2021 21% off of a pokey little apartment near Halifax https://www.rightmove.co.uk/properties/105613148#/?channel=RES_BUY Price Change History 08/09/2021 Price changed from £120,000 to £110,000 28/07/2021 Price changed from £130,000 to £120,000 07/06/2021 Price changed from £140,000 to £130,000 17/04/2021 Initial entry found: £140,000 Quote Link to comment Share on other sites More sharing options...
Si1 Posted December 29, 2021 Share Posted December 29, 2021 (edited) 52 minutes ago, Roman Roady said: 21% off of a pokey little apartment near Halifax https://www.rightmove.co.uk/properties/105613148#/?channel=RES_BUY Price Change History 08/09/2021 Price changed from £120,000 to £110,000 28/07/2021 Price changed from £130,000 to £120,000 07/06/2021 Price changed from £140,000 to £130,000 17/04/2021 Initial entry found: £140,000 This kind of stuff was all the rage back in the mid 2000s. I met many twenty something traveling sales executives around West Yorks forking out for tacky flats in converted mills in random decrepit town centres surrounding Leeds/Bradford. They appear to have been awful investments Edited December 29, 2021 by Si1 Quote Link to comment Share on other sites More sharing options...
Warlord Posted December 30, 2021 Share Posted December 30, 2021 (edited) On 12/28/2021 at 7:28 PM, Nomadd said: Er, absolutely nothing - not if you are comparing like-with-like. That flat was in SJW, so historically one of London's most expensive locations. Try finding something for that money in a similar part of New York. I think you will be surprised. Have a look at some of the videos on Louis Rossman's channel about just how expensive *anything* property wise has become in NY. The U.S. is a big place. I've been to NY a few times and wouldn't want to live there in truth What about Florida or Texas? "Betcha" a million quid buys you something amazing . Apologies for turning the thread into a discussion about US house prices! 😂 Edited December 30, 2021 by Warlord Quote Link to comment Share on other sites More sharing options...
hotblack42 Posted December 30, 2021 Share Posted December 30, 2021 10 hours ago, Roman Roady said: 21% off of a pokey little apartment near Halifax https://www.rightmove.co.uk/properties/105613148#/?channel=RES_BUY Price Change History 08/09/2021 Price changed from £120,000 to £110,000 28/07/2021 Price changed from £130,000 to £120,000 07/06/2021 Price changed from £140,000 to £130,000 17/04/2021 Initial entry found: £140,000 Makes £300k for a one bed in a decent London suburb look good value - at least it won't be a hotel room masquerading as a flat. Quote Link to comment Share on other sites More sharing options...
Roman Roady Posted December 30, 2021 Share Posted December 30, 2021 1 hour ago, hotblack42 said: Makes £300k for a one bed in a decent London suburb look good value - at least it won't be a hotel room masquerading as a flat. Yes agreed...its a shame that there wasnt someone like you to advise the current vendor back in 2004! Anyhow.... 24% off of a 3 bed detached house in Christchurch Dorset. https://www.rightmove.co.uk/properties/113578115#/?channel=RES_BUY Price Change History 26/12/2021 Price changed from £500,000 to £400,000 14/10/2021 Price changed from £525,000 to £500,000 16/09/2021 Initial entry found: £525,000 Quote Link to comment Share on other sites More sharing options...
Roman Roady Posted December 30, 2021 Share Posted December 30, 2021 1 hour ago, hotblack42 said: Makes £300k for a one bed in a decent London suburb look good value - at least it won't be a hotel room masquerading as a flat. 21% off of a 1 bed flat in Bournemouth https://www.rightmove.co.uk/properties/59128818#/?channel=RES_BUY Price Change History 26/12/2021 Price changed from £195,000 to £190,000 17/06/2021 Price changed from £192,000 to £195,000 26/04/2021 Price changed from £200,000 to £192,000 25/02/2021 Price changed from £210,000 to £200,000 25/11/2020 Price changed from £220,000 to £210,000 08/03/2019 Price changed from £240,000 to £220,000 26/12/2018 Initial entry found: £240,000 Quote Link to comment Share on other sites More sharing options...
Orb Posted December 30, 2021 Share Posted December 30, 2021 6 hours ago, Roman Roady said: 21% off of a 1 bed flat in Bournemouth https://www.rightmove.co.uk/properties/59128818#/?channel=RES_BUY Price Change History 26/12/2021 Price changed from £195,000 to £190,000 17/06/2021 Price changed from £192,000 to £195,000 26/04/2021 Price changed from £200,000 to £192,000 25/02/2021 Price changed from £210,000 to £200,000 25/11/2020 Price changed from £220,000 to £210,000 08/03/2019 Price changed from £240,000 to £220,000 26/12/2018 Initial entry found: £240,000 Offering stunning views of a fire escape through every window 😅 Quote Link to comment Share on other sites More sharing options...
naturals Posted December 30, 2021 Share Posted December 30, 2021 9 hours ago, Roman Roady said: 21% off of a 1 bed flat in Bournemouth https://www.rightmove.co.uk/properties/59128818#/?channel=RES_BUY Price Change History 26/12/2021 Price changed from £195,000 to £190,000 17/06/2021 Price changed from £192,000 to £195,000 26/04/2021 Price changed from £200,000 to £192,000 25/02/2021 Price changed from £210,000 to £200,000 25/11/2020 Price changed from £220,000 to £210,000 08/03/2019 Price changed from £240,000 to £220,000 26/12/2018 Initial entry found: £240,000 Top floor flat in this building was on Grand Designs back in the day Quote Link to comment Share on other sites More sharing options...
Roman Roady Posted December 30, 2021 Share Posted December 30, 2021 OK not quite a 20%er but an interesting history in an interesting area...I think so anyhow. 19% off of a 3 bed "character property" in Chippenham Wilts (near Bristol and Bath). https://www.rightmove.co.uk/properties/114314729#/?channel=RES_BUY Price Change History 26/12/2021 Price changed from £250,000 to £220,000 27/10/2021 Price changed from £270,000 to £250,000 01/10/2021 Initial entry found: £270,000 Quote Link to comment Share on other sites More sharing options...
Roman Roady Posted December 31, 2021 Share Posted December 31, 2021 20% off in Somerset https://www.rightmove.co.uk/properties/116255609#/?channel=RES_BUY Price Change History 26/12/2021 Price changed from £325,000 to £280,000 20/11/2021 Price changed from £350,000 to £325,000 13/11/2021 Initial entry found: £350,000 Quote Link to comment Share on other sites More sharing options...
spyguy Posted December 31, 2021 Share Posted December 31, 2021 21 hours ago, Roman Roady said: OK not quite a 20%er but an interesting history in an interesting area...I think so anyhow. 19% off of a 3 bed "character property" in Chippenham Wilts (near Bristol and Bath). https://www.rightmove.co.uk/properties/114314729#/?channel=RES_BUY Price Change History 26/12/2021 Price changed from £250,000 to £220,000 27/10/2021 Price changed from £270,000 to £250,000 01/10/2021 Initial entry found: £270,000 I once confused Chippenham with Cheltenham. Both start with Ch, not a million miles apart, sounds the same when a slack jawed local yokel says the name. Imagine my surprise arriving in Chippenham and expecting an upmarket Cotswold spa/market town. Quote Link to comment Share on other sites More sharing options...
Roman Roady Posted January 1, 2022 Share Posted January 1, 2022 21% off of a 5 bed apartment near Blackpool. Only 2 exterior phots...so no surprise that there doesn't seem to be much curb appeal. https://www.rightmove.co.uk/properties/108199184#/?channel=RES_BUY Price Change History 19/10/2021 Price changed from £139,950 to £110,000 04/06/2021 Initial entry found: £139,950 Quote Link to comment Share on other sites More sharing options...
iamnumerate Posted January 1, 2022 Share Posted January 1, 2022 7 hours ago, Roman Roady said: 21% off of a 5 bed apartment near Blackpool. Only 2 exterior phots...so no surprise that there doesn't seem to be much curb appeal. https://www.rightmove.co.uk/properties/108199184#/?channel=RES_BUY Price Change History 19/10/2021 Price changed from £139,950 to £110,000 04/06/2021 Initial entry found: £139,950 I sold a flat in South London in 2006 for a similar amount - my old neighbour sold hers 3 years ago for £235K! And many others have sold for a lot more. I wonder why blackpool has crashed so much. Quote Link to comment Share on other sites More sharing options...
Roman Roady Posted January 1, 2022 Share Posted January 1, 2022 20% in St. Leonards-On-Sea, East Sussex. https://www.rightmove.co.uk/properties/111443597#/?channel=RES_BUY Price Change History 27/12/2021 Price changed from £147,000 to £140,000 16/12/2021 Price changed from £150,000 to £147,000 08/12/2021 Price changed from £149,950 to £150,000 15/08/2021 Price changed from £160,000 to £149,950 11/08/2021 Price changed from £175,000 to £160,000 06/08/2021 Initial entry found: £175,000 Quote Link to comment Share on other sites More sharing options...
Roman Roady Posted January 2, 2022 Share Posted January 2, 2022 33% off in Blyth https://www.rightmove.co.uk/properties/59974002#/?channel=RES_BUY Price Change History 30/12/2021 Price changed from £59,950 to £50,000 06/04/2019 Price changed from £69,950 to £59,950 25/03/2019 Price changed from £74,950 to £69,950 05/02/2019 Initial entry found: £74,950 Quote Link to comment Share on other sites More sharing options...
Roman Roady Posted January 2, 2022 Share Posted January 2, 2022 19% off of a 4 bed detached house in Beverley Yorks https://www.rightmove.co.uk/properties/108407879#/?channel=RES_BUY Price Change History 14/12/2021 Price changed from £600,000 to £550,000 01/10/2021 Price changed from £650,000 to £600,000 16/07/2021 Price changed from £675,000 to £650,000 08/06/2021 Initial entry found: £675,000 Quote Link to comment Share on other sites More sharing options...
Roman Roady Posted January 2, 2022 Share Posted January 2, 2022 21% off in Darlington https://www.rightmove.co.uk/properties/114378260#/?channel=RES_BUY Price Change History 28/12/2021 Price changed from £85,000 to £75,000 20/10/2021 Price changed from £95,000 to £85,000 05/10/2021 Initial entry found: £95,000 Quote Link to comment Share on other sites More sharing options...
dpg50000 Posted January 3, 2022 Share Posted January 3, 2022 16 hours ago, Roman Roady said: 19% off of a 4 bed detached house in Beverley Yorks https://www.rightmove.co.uk/properties/108407879#/?channel=RES_BUY Price Change History 14/12/2021 Price changed from £600,000 to £550,000 01/10/2021 Price changed from £650,000 to £600,000 16/07/2021 Price changed from £675,000 to £650,000 08/06/2021 Initial entry found: £675,000 That's a fairly decent sized house, but I'd say it's still £200K overpriced. The initial asking price is ludicrous - no wonder the gap between sold prices and the Rightmove delusion index grows ever bigger. Quote Link to comment Share on other sites More sharing options...
ABZ_RVK Posted January 3, 2022 Share Posted January 3, 2022 2 hours ago, dpg50000 said: That's a fairly decent sized house, but I'd say it's still £200K overpriced. The initial asking price is ludicrous - no wonder the gap between sold prices and the Rightmove delusion index grows ever bigger. Agree completely. Prices are ludicrously high. Quote Link to comment Share on other sites More sharing options...
Roman Roady Posted January 3, 2022 Share Posted January 3, 2022 Its new year and thus time to clear some of the legacy properties from my bookmarks folders. Lets start with the ones that are now SSTC.... +++++++++++++++++++++++ 29% in Salford https://www.rightmove.co.uk/properties/103828988#/?channel=RES_BUY Price Change History 12/10/2021 Price changed from £135,000 to £100,000 08/06/2021 Price changed from £140,000 to £135,000 09/03/2021 Initial entry found: £140,000 +++++++++++++++++++++++ 20% in Bradford https://www.rightmove.co.uk/properties/115499201#/?channel=RES_BUY Price Change History 17/11/2021 Price changed from £115,000 to £100,000 10/11/2021 Price changed from £125,000 to £115,000 28/10/2021 Initial entry found: £125,000 +++++++++++++++++++++++ 20% in Manchester https://www.rightmove.co.uk/properties/80171316#/?channel=RES_BUY Price Change History 07/09/2021 Price changed from £138,000 to £120,000 03/06/2021 Price changed from £150,000 to £138,000 11/05/2021 Initial entry found: £150,000 +++++++++++++++++++++++ 24% in Sedgley https://www.rightmove.co.uk/properties/78944463#/?channel=RES_BUY Price Change History 19/11/2021 Price changed from £210,000 to £189,950 16/11/2021 Price changed from £240,000 to £210,000 29/10/2021 Price changed from £210,000 to £240,000 26/04/2021 Price changed from £225,000 to £210,000 07/04/2021 Price changed from £250,000 to £225,000 19/03/2021 Initial entry found: £250,000 +++++++++++++++++++++++ 22% in Wolverhampton https://www.rightmove.co.uk/properties/115171217#/?channel=RES_BUY Price Change History 19/11/2021 Price changed from £50,000 to £39,000 21/10/2021 Initial entry found: £50,000 +++++++++++++++++++++++ 24% in Wolverhampton https://www.rightmove.co.uk/properties/66149128#/?channel=RES_BUY Price Change History 04/03/2021 Price changed from £135,000 to £130,000 30/01/2020 Price changed from £140,000 to £135,000 08/03/2019 Price changed from £160,000 to £140,000 13/09/2018 Price changed from £170,000 to £160,000 04/07/2018 Initial entry found: £170,000 Quote Link to comment Share on other sites More sharing options...
steve99 Posted January 3, 2022 Share Posted January 3, 2022 2 hours ago, Roman Roady said: Its new year and thus time to clear some of the legacy properties from my bookmarks folders. Lets start with the ones that are now SSTC.... +++++++++++++++++++++++ 29% in Salford https://www.rightmove.co.uk/properties/103828988#/?channel=RES_BUY Price Change History 12/10/2021 Price changed from £135,000 to £100,000 08/06/2021 Price changed from £140,000 to £135,000 09/03/2021 Initial entry found: £140,000 +++++++++++++++++++++++ 20% in Bradford https://www.rightmove.co.uk/properties/115499201#/?channel=RES_BUY Price Change History 17/11/2021 Price changed from £115,000 to £100,000 10/11/2021 Price changed from £125,000 to £115,000 28/10/2021 Initial entry found: £125,000 +++++++++++++++++++++++ 20% in Manchester https://www.rightmove.co.uk/properties/80171316#/?channel=RES_BUY Price Change History 07/09/2021 Price changed from £138,000 to £120,000 03/06/2021 Price changed from £150,000 to £138,000 11/05/2021 Initial entry found: £150,000 +++++++++++++++++++++++ 24% in Sedgley https://www.rightmove.co.uk/properties/78944463#/?channel=RES_BUY Price Change History 19/11/2021 Price changed from £210,000 to £189,950 16/11/2021 Price changed from £240,000 to £210,000 29/10/2021 Price changed from £210,000 to £240,000 26/04/2021 Price changed from £225,000 to £210,000 07/04/2021 Price changed from £250,000 to £225,000 19/03/2021 Initial entry found: £250,000 +++++++++++++++++++++++ 22% in Wolverhampton https://www.rightmove.co.uk/properties/115171217#/?channel=RES_BUY Price Change History 19/11/2021 Price changed from £50,000 to £39,000 21/10/2021 Initial entry found: £50,000 +++++++++++++++++++++++ 24% in Wolverhampton https://www.rightmove.co.uk/properties/66149128#/?channel=RES_BUY Price Change History 04/03/2021 Price changed from £135,000 to £130,000 30/01/2020 Price changed from £140,000 to £135,000 08/03/2019 Price changed from £160,000 to £140,000 13/09/2018 Price changed from £170,000 to £160,000 04/07/2018 Initial entry found: £170,000 There is a massive overhang of SSTC vs houses for sale. For eg Cambridge, excluding new, schemes and retirement properties. Including SSTC 713 vs For sale 237. It obviously isnt buying season but many of these 'sold' months ago and still haven't cleared through. I can see a lot back on the market come spring. Quote Link to comment Share on other sites More sharing options...
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