Jump to content
House Price Crash Forum

Examples of big & multiple drops


Sausage
 Share

Recommended Posts

  • Replies 3k
  • Created
  • Last Reply

Top Posters In This Topic

2 hours ago, Sausage said:

Slightly off topic... A close relative has just bought (STC) a 3 bed detached cottage in so42... £915k 

Wtaf

Sorry to hear that (really). What did they pay with? A house they already bought in the past or debt or / and something else? Average Salary in Southampton £27k apparently so at £915k that's 33.8 times average wage. Just an inkling but I think, i just think, that.....they may have paid too much.

Link to comment
Share on other sites

10 hours ago, Arpeggio said:

Sorry to hear that (really). What did they pay with? A house they already bought in the past or debt or / and something else? Average Salary in Southampton £27k apparently so at £915k that's 33.8 times average wage. Just an inkling but I think, i just think, that.....they may have paid too much.

It's in the middle of new forest... Very rural, mainline to London. Her BF has paid for most of it. Moved from London so possibly all/mostly cash. Oh well... I'm probably just jealous that I haven't got £1m to spunk on a house ?

Link to comment
Share on other sites

7 hours ago, Sausage said:

Her BF has paid for most of it. Moved from London so possibly all/mostly cash.

It makes me curious why home owners stay in London and put up with a shitty 1hr+ tube ride when they can buy a very nice house in the country near a main-line, bank a pot of cash and get into work quicker and, usually, in more comfort. Unless I am missing it when I visit - London 'aint that great.

Link to comment
Share on other sites

5 minutes ago, Cryptotrader said:

It makes me curious why home owners stay in London and put up with a shitty 1hr+ tube ride when they can buy a very nice house in the country near a main-line, bank a pot of cash and get into work quicker and, usually, in more comfort. Unless I am missing it when I visit - London 'aint that great.

Because the trains are crowded, expensive and often delayed or cancelled. I don't know where you mean that gets you in to work quicker? 

Link to comment
Share on other sites

4 hours ago, Cryptotrader said:

It makes me curious why home owners stay in London and put up with a shitty 1hr+ tube ride when they can buy a very nice house in the country near a main-line, bank a pot of cash and get into work quicker and, usually, in more comfort. Unless I am missing it when I visit - London 'aint that great.

I don't know what it is like to have a 1 hour tube ride and consider myself living in London. For me it was

1. Multiple bus routes to take me places. Now living out of London I'm seeing my bus routes being cancelled and disappearing. I'm disabled so this is a problem

2. Lots of places to eat quickly after work if I wasn't well enough to cook. Great variety

3. Lots of places to buy food easily on my way back from work if well enough to cook

4. Teaching hospitals with doctors who specialise in different less common diseases and more treatment options for things like cancer

5. Being able to get a taxi if I went somewhere and couldn't physically get back home

6. Cinema close by that played films I wanted to see

7. Theater with original productions

8. Mainline stations can be inaccessible

9. Train journeys cancelled and unreliable, expensive and over crowded. Stations can be closed for weekends (i.e. Euston) or have works be carried out on a line just when I need to gets somewhere.

10. A whole lot of hobby groups or learning opportunities or art institutions or varied people to socialise with

12. Lack of work in some areas of the country. We have moved twice now and steady work is a problem to find even for educated and qualified people. 

There are a lots of disadvantages as well (!) but a large house in the country near a mainline station isn't paradise for us all. 

 

Edited by Flopsy
Link to comment
Share on other sites

19 hours ago, Vested Disinterest said:

13. London is good for many airports and Eurostar too!

14. Playgrounds - so many different ones all over the city (if you have under 10s)

13. Good luck with that after Brexit.

14. Indeed - lot's of playgrounds for the under 10s - and then on to fun knife, gun and drug gang crime as they get older.

Link to comment
Share on other sites

On 15/10/2018 at 12:32, Cryptotrader said:

It makes me curious why home owners stay in London and put up with a shitty 1hr+ tube ride when they can buy a very nice house in the country near a main-line, bank a pot of cash and get into work quicker and, usually, in more comfort. Unless I am missing it when I visit - London 'aint that great.

Because it's a false economy. Annual season tickets are thousands of pounds and the time you spend travelling to the station, waiting for the delayed/cancelled trains that only come a couple times an hour instead of every 3min, sitting on the train next to all the other grey-faced country commuters could be spent in far more pleasurable ways in the city.

That said, it does seem to work well for a certain type of senior manager with a nice dull housewife, 3-5 children in private school/uni, 2 Labradors and a Jack Russell, 3 cars (one to be a 4x4), a sizeable annual bonus, a lovely great pension, and absolutely no imagination. 

 

Link to comment
Share on other sites

https://www.zoopla.co.uk/for-sale/details/39810176

Price history

Sold prices provided by Land Registry

16th Oct 2018 £1,100,000 Price reduced by £350,000
28th Feb 2018 £1,450,000 Price reduced by £25,000
30th Mar 2017 £1,475,000 Price reduced by £175,000
16th Nov 2016 £1,650,000 Price reduced by £100,000
22nd Jun 2016 £1,750,000 Price reduced by £45,000
14th Mar 2016 £1,795,000 First listed
20th Nov 2014 £3,300,000 Last sold
Link to comment
Share on other sites

2 hours ago, darkmarket said:

https://www.zoopla.co.uk/for-sale/details/39810176

Price history

Sold prices provided by Land Registry

16th Oct 2018 £1,100,000 Price reduced by £350,000
28th Feb 2018 £1,450,000 Price reduced by £25,000
30th Mar 2017 £1,475,000 Price reduced by £175,000
16th Nov 2016 £1,650,000 Price reduced by £100,000
22nd Jun 2016 £1,750,000 Price reduced by £45,000
14th Mar 2016 £1,795,000 First listed
20th Nov 2014 £3,300,000 Last sold

If they don't drop the price sufficiently quickly, the lease will run out before they have a buyer.
 

 

Link to comment
Share on other sites

3 hours ago, darkmarket said:

https://www.zoopla.co.uk/for-sale/details/39810176

Price history

Sold prices provided by Land Registry

16th Oct 2018 £1,100,000 Price reduced by £350,000
28th Feb 2018 £1,450,000 Price reduced by £25,000
30th Mar 2017 £1,475,000 Price reduced by £175,000
16th Nov 2016 £1,650,000 Price reduced by £100,000
22nd Jun 2016 £1,750,000 Price reduced by £45,000
14th Mar 2016 £1,795,000 First listed
20th Nov 2014 £3,300,000 Last sold

There's something up with this place. It would be much, MUCH more expensive to rent an apartment like that, in that location for 39 years than to buy this, pay the SDLT & service charge & just hand it back to the freeholder (assuming you want to stay for 30 years or so).

Buying fir £3.3M was clearly a huge mistake, but that cut of £350k looks excessive 

Link to comment
Share on other sites

8 hours ago, darkmarket said:

https://www.zoopla.co.uk/for-sale/details/39810176

Price history

Sold prices provided by Land Registry

16th Oct 2018 £1,100,000 Price reduced by £350,000
28th Feb 2018 £1,450,000 Price reduced by £25,000
30th Mar 2017 £1,475,000 Price reduced by £175,000
16th Nov 2016 £1,650,000 Price reduced by £100,000
22nd Jun 2016 £1,750,000 Price reduced by £45,000
14th Mar 2016 £1,795,000 First listed
20th Nov 2014 £3,300,000 Last sold

11k service charge and 39 year lease. Nice 

Link to comment
Share on other sites

4 hours ago, hurlerontheditch said:

11k service charge and 39 year lease. Nice 

This needs to be seen from the perspective of people who could buy it. There are approx 250000 UK people earning £200k plus, most of them in London. They will look at buying this, paying the fees & writing it off as the cost of doing business & living in a big apt. they couldn't or wouldn't choose to afford. They will have wealth accumulating elsewhere so won't worry about the specific property they are living in being a store of wealth like most folk. I work with Investment Managers - their clients inhabit a different world with a different relationship to money & little of the concerns of the general population (at least money wise).

Its a still great big red flag in relation to PCL sentiment though.

Link to comment
Share on other sites

13 hours ago, darkmarket said:

https://www.zoopla.co.uk/for-sale/details/39810176

Price history

Sold prices provided by Land Registry

16th Oct 2018 £1,100,000 Price reduced by £350,000
28th Feb 2018 £1,450,000 Price reduced by £25,000
30th Mar 2017 £1,475,000 Price reduced by £175,000
16th Nov 2016 £1,650,000 Price reduced by £100,000
22nd Jun 2016 £1,750,000 Price reduced by £45,000
14th Mar 2016 £1,795,000 First listed
20th Nov 2014 £3,300,000 Last sold

Someone should call the police, most blatant advertisement for money laundering I've seen yet.

Link to comment
Share on other sites

1 hour ago, Tiredofthissh1te said:

Maybe I've been in London too long but £2M seems reasonable-ish. There's comfortably space for 5-6 houses on the plot & it's a decent commute from W London. What do we think it should be priced at?

Link to comment
Share on other sites

49 minutes ago, darkmarket said:

https://www.zoopla.co.uk/new-homes/details/45765626

"Only cash buyers due to the fact that the (sic) completion is now due."

Price history

Sold prices provided by Land Registry
18th Oct 2018 £2,000,000 Price reduced by £730,000
12th Feb 2016 £2,730,000 First listed

Wow. Panic? Race to the bottom?

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
 Share

  • Recently Browsing   0 members

    No registered users viewing this page.





×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.