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Evening Standard - London Million Pound Houses Falling

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"The average estimated property value of a home in London is now £654,730 — though this is almost £200,000 more than prices being achieved when properties are sold."

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3 minutes ago, Smith said:

"The average estimated property value of a home in London is now £654,730 — though this is almost £200,000 more than prices being achieved when properties are sold."

Come again now?

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I suppose you could argue that if the most expensive homes aren't being sold, then the average value of all homes will be higher than the average price of homes being sold. However this seems like a huge discrepancy and hard to justify for very long.

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1 hour ago, Smith said:

"The average estimated property value of a home in London is now £654,730 — though this is almost £200,000 more than prices being achieved when properties are sold."

Nurse!

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1 hour ago, Smith said:

"The average estimated property value of a home in London is now £654,730 — though this is almost £200,000 more than prices being achieved when properties are sold."

Sooooooo the actual average value is £454,730?

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Falling top end pushes the average price down......London property and places are so diverse there is a massive differential in prices, means an average price whatever it is means very little.;)

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1 hour ago, Smith said:

"The average estimated property value of a home in London is now £654,730 — though this is almost £200,000 more than prices being achieved when properties are sold."

 

1 hour ago, thewig said:

Come again now?

The average asking price is £654k, the average selling price is £454k

It suggests that few expensive houses are actually selling.

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18 minutes ago, Locke said:

 

The average asking price is £654k, the average selling price is £454k

It suggests that few expensive houses are actually selling.

That’s not what it says. Read it again... BABY!!

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*rocking back and forth* My house is worth £654k, I wouldn't be able to actually get somebody to give me that much money for it that but that's definitely what it's worth. *breathes in and out of brown paper bag*

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22 minutes ago, thewig said:

That’s not what it says. Read it again... BABY!!

...few houses are selling around the average "valuation" (to my mind "asking") price?

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24 minutes ago, Locke said:

...few houses are selling around the average "valuation" (to my mind "asking") price?

“Average valuation” is vague scumbag ea speak 

it can mean anything they want it to mean, the only real “value” is the market value set by actual TRANSACTIONS!

 

file this one in the bin marked “equity is a matter of opinion, DEBT is real”

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23 minutes ago, longgone said:

can you actually buy a decent house in london for 650k ?

Depends on what you mean by decent. 

You can get a done up 2 bed terrace zone 2/3 easily. 

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5 hours ago, thewig said:

Come again now?

I think it means houses are worth 200k on balance sheets/fairy land than they are in real life.

I think mark to market got stopped?  Once yo get to the 20% + falls usually people start to go under/have problems.

 

Edited by Fromage Frais

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4 hours ago, Sausage said:

12x average London salary for a 2 bed? Lmfao

The other classic response is, “Why don’t they just live in [X] where I have a mansion with room for 5 Bentleys.”

People make their choices and have to live with them eh. *shrug*

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On 22/02/2019 at 12:02, thewig said:

 “equity is a matter of opinion, DEBT is real”

Debt is not real any more my friend.

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  • 294 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%



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