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Examples of big & multiple drops


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9 hours ago, Roman Roady said:

34.5% off of a 2 bed apartment in W6 (Hammersmith/Fulham).

The frequency of drops would indicate another drop soon. Note the spike of optimism in Aug 2020...this and some of the stock type photos leads me to think this might be a developer selling.

https://www.rightmove.co.uk/properties/79697071#/

Price Change History
22/10/2020 Price Changed: £1,100,000 £850,000
08/08/2020 Price Changed: £950,000 £1,100,000
17/06/2020 Price Changed: £1,150,000 £950,000
10/06/2020 Price Changed: £1,300,000 £1,150,000
23/05/2020 Initial entry found.

700,000 over priced now 

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26 minutes ago, Pop321 said:

Looks like it was marketed until March 2020 @ £850k, not sure if it sold then. The Rightmove picture back then show a hedge around it but I have been unable to check if it had been painted white and all the blinds removed...adding a healthy £150k.

I assume for an end terrace like this that the queen lives next door to justify the price tag. 😉

I think its number 10 and I dont think it sold.

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@wighty

30% off of a shop and all associated rooms and flats above in Ryde high street IoW. Looks like it was some sort of massage place so would need a good hosing down as well as a re-build. However its worth watching because it might present something approaching value with a couple more reductions followed by a under priced offer.

New planning rules might mean this could be purely residential...but a lot of work needed!

You never know, living in a nice town by the sea might be good fun...double glasing and air con (closed windows) in summer would be a MUST.

https://www.rightmove.co.uk/properties/73642128#/

Price Change History
08/01/2021 Price Changed: £250,000 £225,000
24/11/2020 Price Changed: £300,000 £250,000
04/11/2020 Price Changed: £325,000 £300,000
29/09/2020 Initial entry found.
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6 hours ago, Roman Roady said:

@wighty

30% off of a shop and all associated rooms and flats above in Ryde high street IoW. Looks like it was some sort of massage place so would need a good hosing down as well as a re-build. However its worth watching because it might present something approaching value with a couple more reductions followed by a under priced offer.

New planning rules might mean this could be purely residential...but a lot of work needed!

You never know, living in a nice town by the sea might be good fun...double glasing and air con (closed windows) in summer would be a MUST.

https://www.rightmove.co.uk/properties/73642128#/

Price Change History
08/01/2021 Price Changed: £250,000 £225,000
24/11/2020 Price Changed: £300,000 £250,000
04/11/2020 Price Changed: £325,000 £300,000
29/09/2020 Initial entry found.

lol look at the blue van parked outside 

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10 hours ago, Roman Roady said:

20% off of a 4 bed town house in the Isle of Dogs E14

https://www.rightmove.co.uk/properties/81696820#/

Price Change History
03/09/2020 Price Changed: £1,250,000 £1,000,000
04/07/2020 Initial entry found.

I genuinely can’t even make out what it actually is. Above a pub? A maisonette? A house? 

Its ‘new’ (so I guess qualifies for HTB) and has a nice kitchen...so where do I sign? 🤦🏻‍♂️

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21.5% off a 5 bed house with 5 lodges in Leominster Herefordshire.

A successful and thriving Holiday Lodge Business with substantial main House in this sought after North Herefordshire Village. There are 5 Lodges, all fully equipped with balconies and hot tubs which were constructed in 2007. 2 x 3 Bedroom, 2 x 2 Bedroom and 1 x 1 Bedroom Lodges. Aymestrey House has Five Bedrooms and Three Reception Rooms plus an Office to serve the Holiday Business. Set in Landscaped grounds with a communal garden with large pond for the guests and private gardens for the house.

https://www.rightmove.co.uk/properties/54678544#/

Price Change History
22/01/2021 Price Changed: £925,000 £900,000
25/07/2020 Price Changed: £995,000 £925,000
10/10/2018 Price Changed: £1,074,000 £995,000
05/04/2018 Price Changed: £1,150,000 £1,074,000
04/04/2018 Initial entry found.
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31% off of a portfolio of flats nationwide. Well over due another drop.

Apartments are based in Manchester, Newcastle and Birmingham.

  • Fully let portfolio consisting of:
  • 5 leasehold flats:
  • 3 x 2-beds
  • 2 x 4-beds

https://www.rightmove.co.uk/properties/83849186#/

Price Change History
25/02/2020 Price Changed: £1,079,950 £1,039,950
25/01/2020 Price Changed: £1,085,000 £1,079,950
23/01/2020 Price Changed: £1,180,000 £1,085,000
23/12/2019 Price Changed: £1,505,000 £1,180,000
07/08/2019 Initial entry found.
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8 hours ago, Roman Roady said:

31% off of a portfolio of flats nationwide. Well over due another drop.

Apartments are based in Manchester, Newcastle and Birmingham.

  • Fully let portfolio consisting of:
  • 5 leasehold flats:
  • 3 x 2-beds
  • 2 x 4-beds

https://www.rightmove.co.uk/properties/83849186#/

Price Change History
25/02/2020 Price Changed: £1,079,950 £1,039,950
25/01/2020 Price Changed: £1,085,000 £1,079,950
23/01/2020 Price Changed: £1,180,000 £1,085,000
23/12/2019 Price Changed: £1,505,000 £1,180,000
07/08/2019 Initial entry found.

A portfolio of cladding liabilities. Will these even be mortgageable?

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22 hours ago, Roman Roady said:

...and at the other end of the scale...28% off of a 10 bed sprawling pad near Norwich.

https://www.rightmove.co.uk/properties/72081735#/

Price Change History
01/12/2020 Price Changed: £2,500,000 £1,800,000
25/07/2020 Initial entry found.

I truly do not get the psychology behind one day thinking your pad is worth £2.5m, then just over four months later thinking it's worth £1.8m.  Even the most ardent HPCer would not think it's actually lost that value in that time, so safe to assume the £2.5m is absolute kite flying - but why not drop the price in meaty increments?  £700k in one go?!  They must be insane.

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11 minutes ago, naturals said:

I truly do not get the psychology behind one day thinking your pad is worth £2.5m, then just over four months later thinking it's worth £1.8m.  Even the most ardent HPCer would not think it's actually lost that value in that time, so safe to assume the £2.5m is absolute kite flying - but why not drop the price in meaty increments?  £700k in one go?!  They must be insane.

Chancers...at least this sort of behaviour may precipitate the crash we all want.

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1 hour ago, naturals said:

I truly do not get the psychology behind one day thinking your pad is worth £2.5m, then just over four months later thinking it's worth £1.8m.  Even the most ardent HPCer would not think it's actually lost that value in that time, so safe to assume the £2.5m is absolute kite flying - but why not drop the price in meaty increments?  £700k in one go?!  They must be insane.

Valuations are not a science in the UK. Have a look on any road and I see massive bandwidth for effectively the same properties. For some it’s a game and developers/investors may as well try for an extra 20%....who knows, some buyers really are that stupid  

An aside, that is why I kept banging on about exercising caution over the past 6 months of buying....people were saying 20 viewers and prices rocketing. It’s seasonal and even now (when the market hasn’t really fallen) my son is looking at things with no other viewers because it’s cold and icy and is looking at much better value. 

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6 minutes ago, Pop321 said:

Valuations are not a science in the UK. Have a look on any road and I see massive bandwidth for effectively the same properties. For some it’s a game and developers/investors may as well try for an extra 20%....who knows, some buyers really are that stupid  

An aside, that is why I kept banging on about exercising caution over the past 6 months of buying....people were saying 20 viewers and prices rocketing. It’s seasonal and even now (when the market hasn’t really fallen) my son is looking at things with no other viewers because it’s cold and icy and is looking at much better value. 

I've seen lots of sstc just now. January.

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I was phoned by an EA that I had made an offer through a few weeks ago. Despite offering asking price, and being nearly all cash, the vendor pulled out because of lockdown and uncertainty. Anyway, the EA called me to say that a local builder needed to offload some properties that weren’t selling. I had been eyeing them for a while, and was considering a viewing. He said that they were likely open to big reductions. Current asking k600. I have also noticed lots and lots of No CHAINS on RM, and quite a lot reductions. I am hoping this gas are finally starting...of course with budget round the corner, the vile Tories will come up with something to stuf the builders pockets with more cash.

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27 minutes ago, HovelinHove said:

I was phoned by an EA that I had made an offer through a few weeks ago. Despite offering asking price, and being nearly all cash, the vendor pulled out because of lockdown and uncertainty. Anyway, the EA called me to say that a local builder needed to offload some properties that weren’t selling. I had been eyeing them for a while, and was considering a viewing. He said that they were likely open to big reductions. Current asking k600. I have also noticed lots and lots of No CHAINS on RM, and quite a lot reductions. I am hoping this gas are finally starting...of course with budget round the corner, the vile Tories will come up with something to stuf the builders pockets with more cash.

It getting unsustainable...something will break.

I am getting very tired of all the conspiracy theories abound (not just on here). However if this whole COVID thing was a conspiracy, I have a feeling that the last three - four of months weren't planned at all. Thats the problem with a biological agent, its totally uncontrollable once its released.

I don't think that Sunak made any secret of the fact he wanted things to return to "Normal" in the summer and he should know the financial situation better than most, certainly better than the PM. Remember "Living without fear"? Well that soon got shelved.

The UK seems to be in the weakest financial position of the G7 due to COVID and it appears that the EU aren't helping matters. I suspect they see a way to deter any of the remaining 27 from following the UK's example.

I dont understand why things are getting more draconian now that the infection rates are dropping. The deaths are still high but that is due to the utter nonsense over Xmas...why are we closing boarders a year late??? Why have we only just decided to fine party goers? Then we have the £500 positive swab joke...which reeks of panic.

On the basis of "watch what they do" and "not listen to what they say" it looks to me that TPTB are spooked ATM.

Why?

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2 bed apt in London SE1...v close to Tower Bridge.

OK this one is strictly 19%ish off from initial price to current price.

But if I take the increased price of £2.98M on 19/08/2018 then its a 22%ish drop from that peak.

Due another drop.

https://www.rightmove.co.uk/properties/75216542#/

Price Change History
11/08/2020 Price Changed: £2,389,886 £2,318,000
05/08/2020 Price Changed: £2,463,800 £2,389,886
22/07/2020 Price Changed: £2,540,000 £2,463,800
15/07/2020 Price Changed: £2,619,000 £2,540,000
30/06/2020 Price Changed: £2,700,000 £2,619,000
08/11/2018 Price Changed: £2,800,000 £2,700,000
09/10/2018 Price Changed: £2,980,000 £2,800,000
19/09/2018 Price Changed: £2,880,000 £2,980,000
07/09/2018 Initial entry found.

 

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5 hours ago, Roman Roady said:

It getting unsustainable...something will break.

I am getting very tired of all the conspiracy theories abound (not just on here). However if this whole COVID thing was a conspiracy, I have a feeling that the last three - four of months weren't planned at all. Thats the problem with a biological agent, its totally uncontrollable once its released.

I don't think that Sunak made any secret of the fact he wanted things to return to "Normal" in the summer and he should know the financial situation better than most, certainly better than the PM. Remember "Living without fear"? Well that soon got shelved.

The UK seems to be in the weakest financial position of the G7 due to COVID and it appears that the EU aren't helping matters. I suspect they see a way to deter any of the remaining 27 from following the UK's example.

I dont understand why things are getting more draconian now that the infection rates are dropping. The deaths are still high but that is due to the utter nonsense over Xmas...why are we closing boarders a year late??? Why have we only just decided to fine party goers? Then we have the £500 positive swab joke...which reeks of panic.

On the basis of "watch what they do" and "not listen to what they say" it looks to me that TPTB are spooked ATM.

Why?

I saw the press conference for the preview for Davos. Old Klaus looked quite disturbed, but determined. TPTB are indeed nervous, the Dems are now allowing discussion of the virus having lab origins...maybe they weren’t planning on quite such an ability for it to mutate.

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12 hours ago, Roman Roady said:

.

I dont understand why things are getting more draconian now that the infection rates are dropping. The deaths are still high but that is due to the utter nonsense over Xmas...why are we closing boarders a year late??? Why have we only just decided to fine party goers? Then we have the £500 positive swab joke...which reeks of panic.

On the basis of "watch what they do" and "not listen to what they say" it looks to me that TPTB are spooked ATM.

Why?

Probably because the NHS is stretched to breaking point literally.

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4 hours ago, Si1 said:

Probably because the NHS is stretched to breaking point literally.

On the subject of NHS failure...if they cannot treat their usual workload, to me that is failure. So in those terms the NHS has been FAILING for almost a year now.

Back in early March 2020 I thought it prudent to register with the local Quacks. I was greeted with STOP signs etc (what has now become usual). At the time I thought something along the lines of "great, when it looks like we are really going to need them we get this!"

Also don't forget the NHS dependency of foreign workers. COVID has apparently been responsible for an exodus of 1.7M so far...what is BREXIT going to do mid term? And...when it comes to trained medical professionals, I think that their home countries might be needing them!

The UK is about to get a lesson as to the reasons for a national education system...and its not to source foreign income teaching liberal arts degrees.

IMHO, the danger facing the NHS now is systemic COLLAPSE.

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