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Examples of big & multiple drops


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from page 6, 2nd on the list...

https://www.rightmove.co.uk/properties/66375115#/

Eventually sold for £445k July 2019...so a loss of £35k (7%) in approx 30 months.

https://www.rightmove.co.uk/house-prices/detailMatching.html?prop=71584801&sale=56325260&country=england

Sale Date Property Price Paid Source
29 Jul 2019
Semi-Detached, Freehold
£445,000 Land Registry
22 Feb 2017
Semi-Detached, Freehold
£480,000 Land Registry
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Jeez that Etchinghill house ....

https://www.rightmove.co.uk/property-for-sale/property-70048370.html

pic 14 shows the escape route from the main bedroom. How on earth has that got past building regs, looks to be ca. a foot that has head space over six foot, wouldn't fancy that in a fire or even just hungover.

 

  • b55fd8ae5c10c5be44c180e22dc5854a83e798a5

 

Assuming the attic beds are really attic storage it's a small one bed. For 440k? How much was it before reduced?

pic 15 shows the kerb "appeal", 440k ??????

  • aed112ac645200c19bd030b52c92a72ce6f04513

 


Nice view though and nothing else on that stretch for sale.

OK found it on zoopla. they're not going to give it away are they .....
 23rd Apr 2018 £440,000 Price reduced by £20,000
28th Dec 2017 £460,000 Price reduced by £10,000
11th Nov 2017 £470,000 First listed
8th Aug 1997 £102,500 Last sold

https://www.zoopla.co.uk/for-sale/details/45684344

From page 6;

https://www.rightmove.co.uk/properties/70048370#/

eventually sold for £450k in Jan 2019

https://www.rightmove.co.uk/house-prices/detailMatching.html?prop=70048370&sale=56071388&country=england

so that was a drop of 20k from initial asking price (4%) over 14 months.

Sale Date Property Price Paid Source
18 Jan 2019
Detached, Freehold
£450,000 Land Registry
08 Aug 1997
Detached, Freehold
£102,500

Land Registry

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£175k (23.5%) off of a sliver of land with PP in Lancashire.

https://www.rightmove.co.uk/commercial-property-for-sale/property-71389789.html

Price Change History
04/09/2020 Price Changed: £650,000 £575,000
23/11/2019 Price Changed: £750,000 £650,000
26/04/2019 Initial entry found.

0.6 acres...worth about £3000 as a field.

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:lol::lol::lol:

Well....looking at the drop and periodicity we can approximate a 12.25% drop every 8.5 months.

So the next drop in May 2021 will be to £504k, then £442k in Feb 2022 then £388k in Nov 2022 and so on. By Sept 2025 it might even be in the 230k range!!

We might get to your estimate by the time your grand kids draw their pensions...actually them being able to draw pensions is probably more ludicrous than my maths.

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26% off of HMO student  digs in Loughborough. Someone read their tea leaves for the coming Uni semesters early into the COVID crisis I think. It still hasnt sold 9 months after such a hefty reduction....

https://www.rightmove.co.uk/properties/67483845#/

Price Change History
31/03/2020 Price Changed: £1,350,000 £1,000,000
08/01/2020 Initial entry found.
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26% off of HMO student  digs in Loughborough. Someone read their tea leaves for the coming Uni semesters early into the COVID crisis I think. It still hasnt sold 9 months after such a hefty reduction....

https://www.rightmove.co.uk/properties/67483845#/

Price Change History
31/03/2020 Price Changed: £1,350,000 £1,000,000
08/01/2020 Initial entry found.

"Offered with vacant posession and potential of ongoing management by current agent, subject to contract."

28 rooms...that's a lot of voids.....hahahahahahahahahahahahaha!!!!!!!!!!!!!!!!!!!!!!!

I think student btl could be hit even harder in the new year with students not returning late and students wanting part refunds?

P.s. That property looks very small for 28 rooms??

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27.5% off of a 5 bed detached old place in Ramsgate Kent...due another substantial drop IMPO.

Theres a swimming pool apparently but no phots of this.

https://www.rightmove.co.uk/properties/71067787#/

Price Change History
03/01/2020 Price Changed: £1,100,000 £995,000
08/10/2019 Price Changed: £1,370,000 £1,100,000
13/04/2019 Initial entry found.
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27.5% off of a 5 bed detached old place in Ramsgate Kent...due another substantial drop IMPO.

Theres a swimming pool apparently but no phots of this.

https://www.rightmove.co.uk/properties/71067787#/

Price Change History
03/01/2020 Price Changed: £1,100,000 £995,000
08/10/2019 Price Changed: £1,370,000 £1,100,000
13/04/2019 Initial entry found.

Ludicrously over extended.  And  that cistern position is so handy there up near the celling.  Plus the baffling bisection of a window with a balustrade🤔 And a Chapel style kitchen, err, why? It was a bit unkind of the people who did the work not to sit the owners down and provide some guidance.  Looks like they just cynically took the money.

 It would cost about £150k to restore proportions and aesthetics that didn't attatract ridicule.

So maybe £600,000 if you have really good reasons to live in that area.

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Ludicrously over extended.  And  that cistern position is so handy there up near the celling.  Plus the baffling bisection of a window with a balustrade🤔 And a Chapel style kitchen, err, why? It was a bit unkind of the people who did the work not to sit the owners down and provide some guidance.  Looks like they just cynically took the money.

 It would cost about £150k to restore proportions and aesthetics that didn't attatract ridicule.

So maybe £600,000 if you have really good reasons to live in that area.

noisy as well 

 

 

Screen Shot 2020-12-26 at 12.11.47 .png

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25% off of a 2 bed country appartment in Lancashire. Possibly due another 10% drop early in the new year.

https://www.rightmove.co.uk/properties/64540713#/

19/09/2020 Price Changed: £325,000 £300,000
30/01/2020 Price Changed: £375,000 £325,000
26/12/2019 Price Changed: £400,000 £375,000
22/08/2019 Initial entry found.

According to the data - last sold in 2006 for $480k.   I suspect there may be an error in this report - but judging by reported sales prices of other flats in the block, maybe not.

Oops!

Screen Shot 2020-12-27 at 09.16.29 .png

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According to the data - last sold in 2006 for $480k.   I suspect there may be an error in this report - but judging by reported sales prices of other flats in the block, maybe not.

Oops!

Screen Shot 2020-12-27 at 09.16.29 .png

You are correct Sir! Quite a bit of carnage there!

https://www.rightmove.co.uk/house-prices/fy6-8lt.html?country=england&referrer=landingPage&searchLocation=FY6+8LT

So even if it sells for 300k thats a 180k loss (37.5%) since 2006.

Here it is:-

https://www.rightmove.co.uk/house-prices/detailMatching.html?prop=64540713&sale=43883622&country=england

Sale Date Property Price Paid Source
23 Jun 2006
Flat, Leasehold (New Build)
£480,000 Land Registry
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Not sure if this thread is meant to inspire us or remind us even after large apparent drops in asking prices even well outside the south east housing is ridiculously overpriced.

I suppose it does both...however I have taken the title literally and just post the drops that I find.

 

I do however think we have become de-sensitized by all this HPI nonsense.

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I would have...seeing that quite a lot now. If it sell for that its a 10% nominal loss there and then.

Here it is on RM for those who want to follow on there....https://www.rightmove.co.uk/properties/84507592#/

Due another 25k drop before xmas IMPO. That will be 60k down from purchase to give 16.6% nominal loss since 2016...disaster! Might even be worse than that.

Welcome to the forum by the way.

22/10/2020 Price Changed: £350,000 £325,000
06/10/2020 Price Changed: £375,000 £350,000
01/10/2020 Price Changed: £385,000 £375,000
06/09/2020 Initial entry found.

 

 

Ahhh...the old POA scam again.

Price Change History
21/12/2020 Price Changed: £325,000 POA
22/10/2020 Price Changed: £350,000 £325,000
06/10/2020 Price Changed: £375,000 £350,000
01/10/2020 Price Changed: £385,000 £375,000
06/09/2020 Initial entry found.

 

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24% off of a detached 4 bed coastal house close to Havant/Hayling Island Hants.

https://www.rightmove.co.uk/properties/72127248#/

Price Change History
24/09/2020 Price Changed: £1,050,000 £950,000
08/08/2020 Price Changed: £1,250,000 £1,050,000
27/07/2020 Initial entry found.

Well that was quick! Nice area but dont fancy how it will fair with rising sea levels. Down to 895k which is now £355k reduction (28.5%)

Price Change History
22/12/2020 Price Changed: £950,000 £895,000
24/09/2020 Price Changed: £1,050,000 £950,000
08/08/2020 Price Changed: £1,250,000 £1,050,000
27/07/2020 Initial entry found.
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21% drop in Chelsea

https://www.rightmove.co.uk/property-for-sale/property-83868353.html

Price Change History
08/07/2020 Price Changed: £1,550,000 £1,495,000
02/09/2019 Price Changed: £1,895,000 £1,550,000
08/08/2019 Initial entry found.

 

another 100k off, now 500k (26.5%) in total

Price Change History
27/10/2020 Price Changed: £1,495,000 £1,395,000
08/07/2020 Price Changed: £1,550,000 £1,495,000
02/09/2019 Price Changed: £1,895,000 £1,550,000
08/08/2019 Initial entry found.

 

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https://www.rightmove.co.uk/property-for-sale/property-85190251.html

Get in there my son! Show us all how its done. Now re-listed at 315k...a full 30k up on the last reduction.

Price Change History
26/09/2020 Initial entry found.

and down again...not down to the original 285k as it was before re-listing but the penny seems to have dropped. Due another soon.

Price Change History
28/10/2020 Price Changed: £315,000 £295,000
26/09/2020 Initial entry found.
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Blectchley/Fenny Stratford (near Milton Keynes), down 50k, rented out, "BEING SOLD BY A MOTIVATED VENDOR"

https://www.rightmove.co.uk/property-for-sale/property-54545598.html

from page 8; initially listed at £280k in May 2018, reduced to £230k in Oct 2018 then sold for £235k in Apr 2019...so a drop of 45k (16%) over 11 months.

 

https://www.rightmove.co.uk/properties/54545598#/

 

Price Change History

12/10/2018

Price Changed: £265,000 £230,000

25/07/2018

Price Changed: £280,000 £265,000

24/05/2018

Initial entry found.

 

https://www.rightmove.co.uk/house-prices/detailMatching.html?prop=67355765&sale=9741580&country=england

 


Property

Price Paid

Source

 

18 Apr 2019

Semi-Detached, Freehold

£235,000

 

27 Oct 2006

Semi-Detached, Freehold

£155,000

 

 

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