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Examples of big & multiple drops


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13 hours ago, Pop321 said:

 

Nothing wrong with Leeds but it is very mixed. Chapel Town and Chapel Allerton neighbours but very different ‘buzz’ in those districts 😆😆

I would absolutely advocate Leeds generally verses any other City. 

I, of course, live in the Dales but most of my posts are hypocritical so why should this one be any different 😉🤦🏻‍♂️

Dont worry, just pulling you legs, I know a couple of lads from leeds and they're top blokes.

Tightest f**kers I've ever met by some way though. 

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23.5% off of 0.66ac of land in Lincs with PP. Nearly 2 years since the last drop so well due another.

https://www.rightmove.co.uk/commercial-property-for-sale/property-65504179.html

Price Change History
27/04/2019 Price Changed: £350,000 £325,000
07/08/2018 Price Changed: £395,000 £350,000
20/06/2018 Price Changed: £425,000 £395,000
29/05/2018 Initial entry found.
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11 hours ago, TheCountOfNowhere said:

Dont worry, just pulling you legs, I know a couple of lads from leeds and they're top blokes.

Tightest f**kers I've ever met by some way though. 

😆😆

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13 hours ago, Roman Roady said:

23.5% off of 0.66ac of land in Lincs with PP. Nearly 2 years since the last drop so well due another.

https://www.rightmove.co.uk/commercial-property-for-sale/property-65504179.html

Price Change History
27/04/2019 Price Changed: £350,000 £325,000
07/08/2018 Price Changed: £395,000 £350,000
20/06/2018 Price Changed: £425,000 £395,000
29/05/2018 Initial entry found.

0.66 of an acre, so about £4000 worth of farm land :lol: 

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1 hour ago, simon2 said:

Here's an interesting one:

https://www.rightmove.co.uk/properties/83411428#/

Can't really argue with the location, but £145k off in less than a year.

The sold prices might have some pain for others, a 1-bed sold for £455k in 2019, 2-beds sold for £665k and £650k in 2018.

Price Change History
12/02/2021 Price Changed: £499,950 £465,000
28/12/2020 Price Changed: £525,000 £499,950
09/10/2020 Price Changed: £550,000 £525,000
07/09/2020 Price Changed: £600,000 £550,000
12/08/2020 Initial entry found.
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Over 42% off of a 2 bed retirement flat in Thirsk, Yorks. Over a year of steady reductions and it is still unsold. I guess this is what happens in a world without easy credit.

https://www.rightmove.co.uk/properties/75955045#/

Price Change History
11/02/2021 Price Changed: £80,000 £75,000
18/11/2020 Price Changed: £85,000 £80,000
16/09/2020 Price Changed: £90,000 £85,000
29/08/2020 Price Changed: £95,000 £90,000
23/07/2020 Price Changed: £105,000 £95,000
06/06/2020 Price Changed: £115,000 £105,000
18/02/2020 Price Changed: £120,000 £115,000
28/01/2020 Price Changed: £130,000 £120,000
02/12/2019 Initial entry found.
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On 07/01/2021 at 11:15, 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.

Well not a 20k drop but another drop none the less.

Price Change History
13/02/2021 Price Changed: £400,000 £395,000
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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On 09/02/2021 at 18:43, Pop321 said:

 

Nothing wrong with Leeds but it is very mixed. Chapel Town and Chapel Allerton neighbours but very different ‘buzz’ in those districts 😆😆

I would absolutely advocate Leeds generally verses any other City. 

I, of course, live in the Dales but most of my posts are hypocritical so why should this one be any different 😉🤦🏻‍♂️

As in keeping with the Yorkie mindset of Leeds being amazing. Didn't Harry Enfield mention something about sophistication....

It's vastly over rated. Traffic is joke. An hour long crawl the Aire valley to get to the out suburbs like guiseley. A city centre that has been over developed with no cohesion to design and a glut of properties. Jobs that have been taking a kicking since the financial crisis. With a huge element of ghettoisation you called out. With the up shot being that nearby towns like wetherby and harrogate being about as over priced as you can get and due a huge reality slap in this recession. The hype of Leeds is largely by west Yorks folk, if you want a proper city centre you go to Manchester. Leeds is a regional hub and that's it.

Of course I would say that, having traded in that existence to pay about the same for a far better way of life in East Cotswolds, better job prospects and with the irony being that the countryside is less busy.

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31 minutes ago, Brave New World said:

As in keeping with the Yorkie mindset of Leeds being amazing. Didn't Harry Enfield mention something about sophistication....

It's vastly over rated. Traffic is joke. An hour long crawl the Aire valley to get to the out suburbs like guiseley. A city centre that has been over developed with no cohesion to design and a glut of properties. Jobs that have been taking a kicking since the financial crisis. With a huge element of ghettoisation you called out. With the up shot being that nearby towns like wetherby and harrogate being about as over priced as you can get and due a huge reality slap in this recession. The hype of Leeds is largely by west Yorks folk, if you want a proper city centre you go to Manchester. Leeds is a regional hub and that's it.

Of course I would say that, having traded in that existence to pay about the same for a far better way of life in East Cotswolds, better job prospects and with the irony being that the countryside is less busy.

Manchester.....oh dear 🤦🏻‍♂️
They don’t even have a decent football team 😉😆

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On 17/01/2021 at 14:29, Roman Roady said:

22% off of a boat in Bristol. I am at a loss for words really...no info as to whether the mooring is included, for this price I would hope so.

https://www.rightmove.co.uk/properties/90324257#/

Price Change History
30/10/2020 Price Changed: £495,000 £465,000
22/06/2020 Price Changed: £595,000 £495,000
11/03/2020 Initial entry found.

Another 40k off.

Price Change History
22/01/2021 Price Changed: £465,000 £425,000
30/10/2020 Price Changed: £495,000 £465,000
22/06/2020 Price Changed: £595,000 £495,000
11/03/2020 Initial entry found.
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On 12/02/2021 at 19:44, Roman Roady said:
Price Change History
12/02/2021 Price Changed: £499,950 £465,000
28/12/2020 Price Changed: £525,000 £499,950
09/10/2020 Price Changed: £550,000 £525,000
07/09/2020 Price Changed: £600,000 £550,000
12/08/2020 Initial entry found.

That’s interesting. Used to walk past this on my way to work. If that is indicative of ‘ordinary’ central London apartment prices then it’s a real adjustment. Talking 30% reduction. 

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On 23/09/2020 at 16:10, Roman Roady said:

https://www.rightmove.co.uk/property-for-sale/property-63322144.html

21% drop 485k to 380k.

Morecambe Lancs.

Its horrible and comes with its own traveler park but its a drop.

Price Change History
15/08/2019 Price Changed: £420,000 £380,000
05/09/2018 Price Changed: £485,000 £420,000
04/04/2018 Initial entry found.

Sold for £369k...drop from initial asking of 24%

https://www.rightmove.co.uk/house-prices/detailMatching.html?prop=63322144&sale=91605120&country=england

Sale Date Property Price Paid Source
04 Sep 2020
Detached, Freehold
£369,000 Land Registry
27 Nov 1998
Detached, Freehold
£58,500 Land Registry

 

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On 25/09/2020 at 12:50, Roman Roady said:

61%

https://www.rightmove.co.uk/property-for-sale/property-58286874.html

Price Change History
06/02/2020 Price Changed: £45,000 £35,000
30/10/2019 Price Changed: £50,000 £45,000
22/09/2019 Price Changed: £55,000 £50,000
11/07/2019 Price Changed: £64,950 £55,000
18/05/2019 Price Changed: £79,950 £64,950
22/02/2019 Price Changed: £89,950 £79,950
24/11/2018 Initial entry found.

Just going through a few hysterical posts...this one from page 40.

It hasnt sold but its been removed.

However whilst looking at the sold history for the post code (LA94UU) I found this gem...number 31.

https://www.rightmove.co.uk/house-prices/la9-4uu.html?country=england&referrer=landingPage&searchLocation=LA9+4UU

31, Blackhall Croft, Blackhall Road, Kendal, Cumbria LA9 4UU
Flat
£45,000 3 Nov 2020 Leasehold
£104,950 28 Feb 2005(New Build) Leasehold
No other historical records

https://houseprices.io/?q=la94uu

Registered sales:

Date Sold Price Paid Nominal
change
Real
change
03 Nov 2020 £45,000 -57.1% -72.3%
28 Feb 2005 £104,950 * n/a n/a

 

OUCH!

 

 

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On 02/10/2020 at 19:42, Roman Roady said:

21% drop in Chelsea...all action in the last 4 months.

https://www.rightmove.co.uk/property-for-sale/property-79726891.html

Price Change History
22/09/2020 Price Changed: £999,950 £899,950
10/07/2020 Price Changed: £1,075,000 £999,950
08/06/2020 Price Changed: £1,150,000 £1,075,000
15/05/2020 Initial entry found.

Re-listed at the same price

https://www.rightmove.co.uk/properties/100979372#/

 

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On 02/10/2020 at 19:46, Roman Roady said:

25% drop in Chelsea...all action in the last 6 months...due another drop soon?

https://www.rightmove.co.uk/property-for-sale/property-69513579.html

Price Change History
16/07/2020 Price Changed: POA £4,500,000
03/06/2020 Price Changed: £6,000,000 POA
05/04/2020 Initial entry found.

 

Relisted at same price

https://www.rightmove.co.uk/properties/82222969#/

 

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3 hours ago, Roman Roady said:

Just going through a few hysterical posts...this one from page 40.

It hasnt sold but its been removed.

However whilst looking at the sold history for the post code (LA94UU) I found this gem...number 31.

https://www.rightmove.co.uk/house-prices/la9-4uu.html?country=england&referrer=landingPage&searchLocation=LA9+4UU

31, Blackhall Croft, Blackhall Road, Kendal, Cumbria LA9 4UU
Flat
£45,000 3 Nov 2020 Leasehold
£104,950 28 Feb 2005(New Build) Leasehold
No other historical records

https://houseprices.io/?q=la94uu

Registered sales:

Date Sold Price Paid Nominal
change
Real
change
03 Nov 2020 £45,000 -57.1% -72.3%
28 Feb 2005 £104,950 * n/a n/a

 

OUCH!

 

 

I mentioned before about this thread...it’s lack of ‘discussion and opinions’ make it really interesting. 

My experience is a crash starts with odd houses then some real tumbles. It wouldn’t surprise me that if a crash does come across the wider market that it is this thread that spots it first.

Thx 👍🏻👍🏻

My location remains massively inconsistent but definitely weaker than it was in the summer madness. Anyone who bought ‘badly’ in July/August are already looking at similar houses being marketed for 10/15% less. The reason was they paid 10/15% over the Jan 2020 price. Doh!! 

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3 minutes ago, Pop321 said:

I mentioned before about this thread...it’s lack of ‘discussion and opinions’ make it really interesting.

Yes thats why I took to it.

This is the "Examples of big and multiple drops" thread on the "House price crash" forum.

We post the drops that we find, for each other to view and draw our own conclusions.

It is what it is...No need for the squabbling seen on other threads.

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I've been keeping tabs on 4 bed houses in West Leeds. One of them sold (desirable well known location overlooking a park with views out to the Dales, really well regarded location). The rest of them got reduced and then removed, as a general rule.

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1 minute ago, Roman Roady said:

Yes thats why I took to it.

This is the "Examples of big and multiple drops" thread on the "House price crash" forum.

We post the drops that we find, for each other to view and draw our own conclusions.

It is what it is...No need for the squabbling seen on other threads.

Yeah, interesting. This is still a biased thread as reductions could be statistically insignificant or just a result of kite flying.

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4 hours ago, Pop321 said:

I mentioned before about this thread...it’s lack of ‘discussion and opinions’ make it really interesting. 

My experience is a crash starts with odd houses then some real tumbles. It wouldn’t surprise me that if a crash does come across the wider market that it is this thread that spots it first.

Thx 👍🏻👍🏻

My location remains massively inconsistent but definitely weaker than it was in the summer madness. Anyone who bought ‘badly’ in July/August are already looking at similar houses being marketed for 10/15% less. The reason was they paid 10/15% over the Jan 2020 price. Doh!! 

Hi @Pop321, so did you guys go ahead with that property you pencilled in ? Or still looking?

Nothing much from my side. Called up a few EAs, Mexican standoff still remains for several interested houses. 

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13 hours ago, househunter123 said:

Hi @Pop321, so did you guys go ahead with that property you pencilled in ? Or still looking?

Nothing much from my side. Called up a few EAs, Mexican standoff still remains for several interested houses. 

Its still waiting for us once the tenants move out. Interestingly several come on without extensions and with poorer plots etc which are now £260k. Last year some went like that for fluffy £275k prices and the buyers may already be nervous about rushing in. 

What we are doing is looking at worst case scenario and I think the one we have at £248K on this particular street and in this particular condition would drop to £230k if the market tanks to 2004 type levels. And we could live with that. To give that context the others (unextended and poorer plots/roads) would then be down from £260K to £185/190K

Really our seller could list it for £279k (or even a tad more) but he wants the pennies guaranteed and when he is ready I would give him that guarantee....he doesn't want the promise of £30K more and never see it. 

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