Jump to content
House Price Crash Forum
Smiley George

Forced Sellers Starting to Appear

Recommended Posts

15 minutes ago, Smiley George said:

Wonder what the story is here, I'm guessing divorce maybe. On now at £70k less than they paid for it in 2016.....bring it on.

https://www.rightmove.co.uk/property-for-sale/property-65326654.html

881838962_ScreenShot2018-10-25at09_55_30.thumb.png.c08be49978e54d73cf0818e1fa836d0b.png

Nice find - so asking roughly what it would have sold for in 2015.  Quite feasible it will drop to 2014 value and not sell until 2019 which be a solid 5 year price retrenchment.
It's actually pretty big, I bet a few Mewers in Kingston and Surbiton will be getting squeaky bums seeing this crystallised loss.
Not sure about the 'garage' though.  Might just about squeeze a couple of supersports in there I suppose.

Share this post


Link to post
Share on other sites

3 bed family house (terraced) on new build estate - nearly three quarters of a million.

It's so depressing.

Don't know the area, but I see it's near Surbiton. Used to be where all the unskilled clerical workers in the BBC situation comedies lived?

But we're not laughing now!

 

Edited by frankief

Share this post


Link to post
Share on other sites
11 minutes ago, frankief said:

3 bed family house (terraced) on new build estate - nearly three quarters of a million.

It's so depressing.

Don't know the area, but I see it's near Surbiton. Used to be where all the unskilled clerical workers in the BBC situation comedies lived?

But we're not laughing now!

 

It`s where the "Good Life" was set, and filmed? and where JG Ballard used to live (Will Self had a good theory on why)

Share this post


Link to post
Share on other sites
7 minutes ago, dances with sheeple said:

It`s where the "Good Life" was set, and filmed? and where JG Ballard used to live (Will Self had a good theory on why)

Ah yes! Was thinking of Reginald Perrin - where did he 'live'? (and did he ever have any problems paying the mortgage?).

Share this post


Link to post
Share on other sites
13 minutes ago, frankief said:

Ah yes! Was thinking of Reginald Perrin - where did he 'live'? (and did he ever have any problems paying the mortgage?).

Looks like I got it wrong, Ballard lived in Shepperton, the Good Life was set in Surbiton but filmed in Northwood, according to Wikipedia anyway, I was nearly 100% sure Ballard lived in Surbiton

Share this post


Link to post
Share on other sites
19 minutes ago, frankief said:

Ah yes! Was thinking of Reginald Perrin - where did he 'live'? (and did he ever have any problems paying the mortgage?).

Sure mortgage woes got a mention in that series, it would have been inflation/high rates general economic/union strife back then? Looks like it was filmed around Ealing, the memorable opening beach scene filmed here..

https://en.wikipedia.org/wiki/West_Bay,_Dorset

and train disruption was a running theme of the series...according to Wikipedia. I remember watching as a young person with probably Grandparents, but wasn`t really tuned into locations or the general economic situation, just that the lead actor could make you laugh with  a facial expression or a simple physical movement.

Share this post


Link to post
Share on other sites
52 minutes ago, frankief said:

Ah yes! Was thinking of Reginald Perrin - where did he 'live'? (and did he ever have any problems paying the mortgage?).

perrin was using norbiton station but it was filmed in ealing. 

Share this post


Link to post
Share on other sites
2 hours ago, Smiley George said:

Wonder what the story is here, I'm guessing divorce maybe. On now at £70k less than they paid for it in 2016.....bring it on.

https://www.rightmove.co.uk/property-for-sale/property-65326654.html

881838962_ScreenShot2018-10-25at09_55_30.thumb.png.c08be49978e54d73cf0818e1fa836d0b.png

Can't be sure what caused this sale (the house only seems to be owned for under three years at a time curiously).

Another source of distressed sale is probate properties - specifically high value ones that exceed the inheritance tax threshold and the tax is owing. (HMRC will be patient with late payment but charge interest). 

But I doubt this property was old folks still.

Share this post


Link to post
Share on other sites

In a couple of years time when we all look back and relive the early days of the crash (here's hoping we're close 🙂), I wonder how easy it'll be to identify each areas individual Patient Zero, so to speak - the first domino?

Or even if there will be such a thing.

Answers on a postcard.

Share this post


Link to post
Share on other sites

At £700K it is still a 50% increase since 2011?  Recent modest falls are to be welcomed but still a crushing transfer of wealth since 2011.

Share this post


Link to post
Share on other sites

If they can stick around on the market that is much better, because it provide a good anchor down for the rest of the prices.

If it disappears too quickly it could be easily discounted as a blip.

One I have seen recently;

https://www.rightmove.co.uk/property-for-sale/property-76587365.html

All these flats around here were nearly £400k for a 2-bed. In fact a 2-bed went in this block in July for £410k (albeit with en-suite). 

Share this post


Link to post
Share on other sites

Pretty sure that JG Ballard neither lived in Surbiton or Shepperton. I've always thought it was Sunbury (on Thames). Deffo not Surbiton and the Shepperton suggestion could be a curved ball as it featured in at least one of his novels.

 

EDIT: Turns out it was Shepperton.

Edited by smash

Share this post


Link to post
Share on other sites
15 hours ago, Smiley George said:

Wonder what the story is here, I'm guessing divorce maybe. On now at £70k less than they paid for it in 2016.....bring it on.

https://www.rightmove.co.uk/property-for-sale/property-65326654.html

881838962_ScreenShot2018-10-25at09_55_30.thumb.png.c08be49978e54d73cf0818e1fa836d0b.png

 

10 hours ago, Smiley George said:

https://www.rightmove.co.uk/property-for-sale/property-72600572.html

WOW it's a race to the bottom round here today...must be something in the water.

2048885488_ScreenShot2018-10-25at14_09_49.thumb.png.6beae6e54acfddae141415cdc139c9ab.png

Haha. 700 and 650. For shitty terraces in the burbs. They would be worth 350k tops if rates were anything other than 0%.

Share this post


Link to post
Share on other sites
6 hours ago, GreenDevil said:

 

Haha. 700 and 650. For shitty terraces in the burbs. They would be worth 350k tops if rates were anything other than 0%.

Probably a lot less than 350k. It’s not only the component of interest being 0% that has caused these prices. It’s also the “trend following” approach to buying real estate that going from high interest rates to zero interest rates has produced. Some people seem to think that during the next 30 years that trend would continue, as if interest rates could go to -10%!

Share this post


Link to post
Share on other sites
14 hours ago, Smiley George said:

WTF!?

Is Robbie Fowler behind that enterprise?

Gary Dully and family.

Various posts about him on this site.

 

Share this post


Link to post
Share on other sites
1 hour ago, Burbujista said:

Probably a lot less than 350k. It’s not only the component of interest being 0% that has caused these prices. It’s also the “trend following” approach to buying real estate that going from high interest rates to zero interest rates has produced. Some people seem to think that during the next 30 years that trend would continue, as if interest rates could go to -10%!

Exactly. The FT's Martin Wolf made this point in his (good) book The Shifts And The Shocks. He said something like there was a one-off adjustment to interest rates post-crash that should have led to an increase in house prices as credit was cheaper.

However, people misread this as a trend (prices haven't just gone up, they are going up). Thereafter it has an element of being self-fulfilling.

I look forward to the mirror image of this process unfolding (while trying not to cackle manically to myself.)

Share this post


Link to post
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...

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 152 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



×
×
  • 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.