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Examples of big & multiple drops


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20% off of a tip in Acton London W3.

As @markyh and @MonsieurCopperCrutch will confirm, I have just got into crypto currencies and am enjoying some modest gains. But my inner skeptic tells me that that such gains wont last long.

However when I look at a dump like this up for this sort of money, I am of a mind that Crypto CAN go to the moon because ANYTHING can go to the moon!

I am old enough to remember when you couldnt have given this dump away.

https://www.rightmove.co.uk/properties/65139475#/

Price Change History
01/10/2020 Price Changed: £600,000 £590,000
28/03/2019 Price Changed: £650,000 £600,000
29/10/2018 Price Changed: £699,950 £650,000
13/08/2018 Price Changed: £700,000 £699,950
17/07/2018 Price Changed: £730,000 £700,000
13/07/2018 Price Changed: £800,000 £730,000
13/05/2018 Price Changed: £740,000 £800,000
04/05/2018 Initial entry found.
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20% off of a tip in Acton London W3.

As @markyh and @MonsieurCopperCrutch will confirm, I have just got into crypto currencies and am enjoying some modest gains. But my inner skeptic tells me that that such gains wont last long.

However when I look at a dump like this up for this sort of money, I am of a mind that Crypto CAN go to the moon because ANYTHING can go to the moon!

I am old enough to remember when you couldnt have given this dump away.

https://www.rightmove.co.uk/properties/65139475#/

Price Change History
01/10/2020 Price Changed: £600,000 £590,000
28/03/2019 Price Changed: £650,000 £600,000
29/10/2018 Price Changed: £699,950 £650,000
13/08/2018 Price Changed: £700,000 £699,950
17/07/2018 Price Changed: £730,000 £700,000
13/07/2018 Price Changed: £800,000 £730,000
13/05/2018 Price Changed: £740,000 £800,000
04/05/2018 Initial entry found.

£590K FOR THAT??   Trust me my house is maybe 50 miles from here, and is an absolute 5 bed 200m2 Palace with a 1000m2 Garden compared to this place. 

Wait until 2025, if Bitcoin has gone up as expected, and property crashed, you will have some nice choices. 

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Some LR figures for London W2 going back to the summer. Some funny results....

https://houseprices.io/?q=w2

 

Apartment 9, 21 Sheldon Square, London, W2 6DS

Registered sales:

Date Sold

Price Paid

Nominal
change

Real
change

22 Sep 2020

£200,000

-75.0%

-81.7%

16 Oct 2009

£800,000

n/a

n/a

=======================================================

6 Sussex Square, London, W2 2SJ

Registered sales:

Date Sold

Price Paid

Nominal
change

Real
change

03 Sep 2020

£4,325,000

-17.1%

-23.3%

20 Jun 2017

£5,218,845 *

12.2%

6.3%

29 Apr 2015

£4,650,000

n/a

n/a

=======================================================

 

 

Basement And Ground Floor Premises, 115 Westbourne Grove,
London, W2 4UP

Registered sales:

Date Sold

Price Paid

Nominal
change

Real
change

19 Aug 2020

£22,500

-10.0%

-19.6%

31 May 2016

£25,000

n/a

n/a

=========================================================

 

 

Flat 4, Castleton Court, 4 - 5, Cleveland Gardens,
London, W2 6HA

Registered sales:

Date Sold

Price Paid

Nominal
change

Real
change

11 Aug 2020

£725,000

-8.2%

-18.0%

09 May 2016

£790,000 *

n/a

n/a

09 May 2016

£1,200,000 *

n/a

n/a

==========================================================

 

Flat 3, 27 Princes Square,
London, W2 4NJ

Registered sales:

Date Sold

Price Paid

Nominal
change

Real
change

31 Jul 2020

£970,000

-11.8%

-24.5%

10 Oct 2013

£1,100,000

n/a

n/a

==========================================================

 

Flat 4, 30 Hyde Park Gardens, London, W2 2ND

Registered sales:

Date Sold

Price Paid

Nominal
change

Real
change

27 Jul 2020

£475,000

-41.0%

-41.7%

23 Jan 2020

£805,000

257.8%

93.9%

19 Jun 1997

£225,000 *

42.9%

40.6%

21 Feb 1997

£157,500 *

n/a

n/a

============================================================

26 Leinster Square, London, W2 4NQ

Registered sales:

Date Sold

Price Paid

Nominal
change

Real
change

09 Jul 2020

£2,495,000

-90.1%

-91.3%

15 Sep 2014

£25,100,000

n/a

n/a

=============================================================

 

Flat 1, 22 Pembridge Square,
London, W2 4DP

Registered sales:

Date Sold

Price Paid

Nominal
change

Real
change

18 Jun 2020

£2,550,000

-5.6%

-17.4%

02 Jul 2014

£2,700,000

n/a

n/a

==========================================================

Flat 6, 15 Hyde Park Gardens,
London, W2 2LU

Registered sales:

Date Sold

Price Paid

Nominal
change

Real
change

08 Jun 2020

£11,100,000

-7.0%

-17.5%

30 Sep 2015

£11,933,000

695.4%

693.3%

12 Jun 2015

£1,500,226

n/a

n/a

==========================================================

 

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As a counter balance to all the posh expensive stuff in London of late, heres a couple of alternatives for those who want a "blast" of fresh air this year:-

22% off in Banff which is on the coast north of Aberdeen.

https://www.rightmove.co.uk/properties/46055571#/

Price Change History
08/12/2019 Price Changed: £77,495 £69,995
21/07/2019 Price Changed: £79,995 £77,495
06/07/2018 Price Changed: £89,995 £79,995
04/04/2018 Initial entry found.

22.5% off of a flat in Macduff which is on the opposite side of Banff Bay.

https://www.rightmove.co.uk/properties/54234567#/

Price Change History
07/12/2019 Price Changed: £69,995 £58,000
06/07/2018 Price Changed: £75,000 £69,995
07/05/2018 Initial entry found.

Looking at the timing of the reductions above I wonder if they have the same Vendor?

Anyhow, both due another reduction:- The wee hoose should be sub 60k and the wee flat should be sub 50k to get any interest IMPO, but I don't really know the area. Economically speaking, I guess this is "Oil Rig" country.

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20% off in Canary Wharf E14.

I assume the jump from £1,250,000 to £1,999,995 was due to "fat finger trouble" at the estate agent office!

https://www.rightmove.co.uk/properties/81523687#/

Price Change History
16/11/2020 Price Changed: £1,150,000 £1,000,000
11/09/2020 Price Changed: £1,199,995 £1,150,000
20/08/2020 Price Changed: £1,999,995 £1,199,995
14/08/2020 Price Changed: £1,250,000 £1,999,995
30/06/2020 Initial entry found.
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20% off in Canary Wharf E14.

I assume the jump from £1,250,000 to £1,999,995 was due to "fat finger trouble" at the estate agent office!

https://www.rightmove.co.uk/properties/81523687#/

Price Change History
16/11/2020 Price Changed: £1,150,000 £1,000,000
11/09/2020 Price Changed: £1,199,995 £1,150,000
20/08/2020 Price Changed: £1,999,995 £1,199,995
14/08/2020 Price Changed: £1,250,000 £1,999,995
30/06/2020 Initial entry found.

Why oh why do they try to make these classic, not big but good sized, places look like a footballer / movie star home?  I know people in East London with houses like this with 'normal' fixtures and fittings and they are lovely homes.

No need to gild the lily.

And doing it in the first half 2020.  Talk about bad luck.  You certainly don't want to set sail, or head off into the wilderness, with whoever is trying to flog this😂

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.... and even these example drops might still leave people buying at the top of the market for that street/town. That's why I suggested that including the relevant houseprice.io data for the property would indicate if the revised price was still kite-flying or represented good value.

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https://www.rightmove.co.uk/properties/74540481#/

I wonder if Stratford may be another place that suffers? Quite a few massive blocks of flats like this near the main station and also the international one. I suspect it may escape the worst due to the transport links.

 

Already is. Prior to 2020 it was going gangbusters but now .... Some lucky folk got out just in time without losing too much

image.png.4642f788da80b421e6fdb2f3cc9cbb97.png

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24% off of a 1 bed flat in London W2 (Hyde Park).

Properties in this block look to be quite rare and this price could be a loss for the vendor.

https://www.rightmove.co.uk/house-prices/w2-2an.html?country=england&searchLocation=W2+2AN

Looking at the frequency of drops shown below I would expect at least another 20k drop fairly soon.

https://www.rightmove.co.uk/properties/83352601#/

Price Change History
25/11/2020 Price Changed: £435,000 £400,000
05/11/2020 Price Changed: £475,000 £435,000
22/10/2020 Price Changed: £495,000 £475,000
21/09/2020 Price Changed: £525,000 £495,000
11/08/2020 Initial entry found.
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33 minutes ago, Roman Roady said:

24% off of a 1 bed flat in London W2 (Hyde Park).

Properties in this block look to be quite rare and this price could be a loss for the vendor.

https://www.rightmove.co.uk/house-prices/w2-2an.html?country=england&searchLocation=W2+2AN

Looking at the frequency of drops shown below I would expect at least another 20k drop fairly soon.

https://www.rightmove.co.uk/properties/83352601#/

Price Change History
25/11/2020 Price Changed: £435,000 £400,000
05/11/2020 Price Changed: £475,000 £435,000
22/10/2020 Price Changed: £495,000 £475,000
21/09/2020 Price Changed: £525,000 £495,000
11/08/2020 Initial entry found.

Only 65 years left on lease so not a reliable indicator of the general market

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21% off of a studio flat in London SW3 (Knightsbridge). Lease to 2052.

https://www.rightmove.co.uk/properties/64890007#/

Price Change History
25/11/2020 Price Changed: £380,000 £340,000
23/10/2020 Price Changed: £400,000 £380,000
02/09/2020 Price Changed: £420,000 £400,000
13/03/2019 Price Changed: £430,000 £420,000
11/07/2018 Initial entry found.
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