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House Price Crash Forum

Blocks of Flats Where New Listings Set New (Recent) Lows

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Seem to remember in the past when the market was going up that for blocks of flats, a sale would provide a 'watermark'. So someone selling their flat at £300k, would see the next flat try £325k and use the previous sold price as some kind of guide.

More recently I have noticed the reverse happening, that asking prices for certain blocks of flats are coming down. Some that have completed this year and have sold prices available show a discount to the 2018 prices, so we could be seeing a trend in action (if the sellers believe the market is declining, then getting equal to the last sold price is a good achievement). I am hoping for a moderate domino effect.

In the areas I am looking I have found some sellers accept this market reality and price below the peak, but some ignore it totally and still price at peak (or above) which results in the flat sitting there for a long time after which it gets reduced to a more realistic price, or simply taken off the market. On rare occasions they do seem get a bite and go SSTC 

Interested in blocks of flats where they are almost identical, ie similar dimensions and not the obvious crash-tastic ones like Battersea. 


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