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The Masked Tulip

Blairs Face Loss Of £675,000 On London Home

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I can't find it on the Mail's online site yet but there is a full page article in the Mail On Sunday today claiming that the Blairs are about to sell their London 'moneypit' with al oss of about £675K!!!

WOW!!

Some of the quotes in the article are wonderful and hopefully it will appear online later on today. They are paying 14K a month in mortgage payments and their tennant is now moving out.

If true, this is yet another property disaster for the Blairs. They appear, IMPO, pretty useless are judging the housing market. They sold one house just before the boom and lost a fortune and now this.

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LMAO - apparently SIX other properties - his neighbours - are also up for sale and local property 'experts' are quoted as saying the house is worth some £365,000 less than they paid for it. When you add up all the other costs it works out, according to the MOS, to a 675K loss.

As the housing market deteriorates we could find that the PM's house is increasingly the factor that causes other house sellers to panic. I wonder how much they will have lost on this property in another 6 months assuming it stays on the market?

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An uncle of mine is friendly with the guy who sold the Blairs that house in Connaught Sq. Apparantly after the sale went through Roger Bevan, the vendor, told by uncle he was "very happy with the deal". I'd say that's an understatement.

Tony Blair's an excellent politician (if winning elections is the yardstick) but pretty poor at business.

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I am enjoying this conversation with myself.

Apparently, according to the MOS, they lost a possible 1 million profit on their Islington home when they sold it just prior to the boom, and their flats in Bristol are worth about 60K less apparently.

Keep going Cherie! Get Tony around there this weekend with the beige paint and the beige carpet! Consider calling in Krustie!

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Ah but...do you honestly think Blair gives a ***k.

According to the MOS, friends of the Blairs claim they - the Blairs - are very nervous.

The MOS has a nice photo showing all the other houses in the Square also on the market.

How much will this house drop in price if it is not sold now, or in 6 months, or in 12 months? The MOS claims it is pretty dark inside, does not have a rear garden like the other properties and needs about 100K spent on modernising it.

A year from now they might be looking at a much bigger loss.

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Any losses will be off-set by the multi-million book-deals and service Blair will get when he steps down as PM.

People that rich wont be affected by house-price cycles...not in any devestating way.

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I am surprised the loss is quoted as low as this. If they really bought something at 3.6 million that rents out for £2000 a week the likely loss looks like more like 1.5 million eventually - even at 5% gross yield.

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Doesn't matter that he can afford the loss. People will look at this and think "Blairs are getting out of the market - cutting their losses and running". You know what they say: whats good for the goose ...

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True true.

I suppose my point is that there are a lot of very rich people who can live outside of the kind of logic many on this site plan their lives by (judging markets etc.).

It's why IMO some areas of London will never crash significantly in prices.

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It’s always a shame to hear about gullible couples getting stuck in negative equity.

“house prices to keep rising in the capital”

………I think not.

:lol:

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True true.

I suppose my point is that there are a lot of very rich people who can live outside of the kind of logic many on this site plan their lives by (judging markets etc.).

It's why IMO some areas of London will never crash significantly in prices.

I think any price drops in Connaught Sq will eventully have a similar % effect across the UK, including all of London

If places like Chelsea, Belgravia, Mayfair fall 40% expect similar falls in Hackney, Tottenham and Peckham and for that matter, Manchester, Leeds, Glasgow etc,

House booms tend to start in these places and so do HPC's

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True true.

I suppose my point is that there are a lot of very rich people who can live outside of the kind of logic many on this site plan their lives by (judging markets etc.).

It's why IMO some areas of London will never crash significantly in prices.

Point is, this is not so good an area in London - can definitely crash.

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I am surprised the loss is quoted as low as this. If they really bought something at 3.6 million that rents out for £2000 a week the likely loss looks like more like 1.5 million eventually - even at 5% gross yield.

Yes, I`m with you on this. Could the MOS be inadvertently doing the Blairs a favour in as much as a damage limitation exercise?

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According to the nationwide house price calculator!

If this house was worth 3.65m in Q3 – 2004

It is now worth 3.74m

A rise of 2.55%

However the mail’s property expert says it’s worth 3.285m

A drop of 365,000 - 10%

Result = someone is 12.55% out

Who?

Well looking in more detail there are 47 houses in this square

6 are on the market

The average price is 2.96m

blairs gaff was described as “rather gloomy” by a potential tenant

Last year – and a developer say it needs 100k refit to get it up to

The standard of the other houses on the square

Another point – when the blairs bought this house it was on the market

for 3.95m and they offered 300k less (clever or what)

But assuming that the 6 on the market sold for 300k less than the asking

Price – the average value of a house in that square is now 2.66m.

Conclusion – I will not be seeking advise from tony blair when I next buy a

House.

Nor will I take any notice of the nationwide’s figures “house prices rose by

1.4% in January”…………..

I reckon the market IS falling and will smashed to bits by mid 2007

My advise……..get saving for multiple deposits – buy as much as you can

From mid 2007 to 2009, and by 2013 you will be very wealthy indeed.

have a nice day.

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According to the nationwide house price calculator!

If this house was worth 3.65m in Q3 – 2004

It is now worth 3.74m

A rise of 2.55%

However the mail’s property expert says it’s worth 3.285m

A drop of 365,000 - 10%

Result = someone is 12.55% out

Who?

Well looking in more detail there are 47 houses in this square

6 are on the market

The average price is 2.96m

blairs gaff was described as “rather gloomy” by a potential tenant

Last year – and a developer say it needs 100k refit to get it up to

The standard of the other houses on the square

Another point – when the blairs bought this house it was on the market

for 3.95m and they offered 300k less (clever or what)

But assuming that the 6 on the market sold for 300k less than the asking

Price – the average value of a house in that square is now 2.66m.

Conclusion – I will not be seeking advise from tony blair when I next buy a

House.

Nor will I take any notice of the nationwide’s figures “house prices rose by

1.4% in January”…………..

I reckon the market IS falling and will smashed to bits by mid 2007

My advise……..get saving for multiple deposits – buy as much as you can

From mid 2007 to 2009, and by 2013 you will be very wealthy indeed.

have a nice day.

You are right about the loss, but surely there cannot be too many mugs out there like the PM/Cherie. Even at the time the price they paid was seen as ridiculous - so who knows what the right price then was for the comparison with now.

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In all seriousness, give it another 6 months and if the Blair's house is then worth 1 million less or is a combined loss of 1 million then no doubt the Mail will be headlining the fact.

Middle Britain - those who have especially been driving the beige BTL, MEW and completely bonkers housing market IMPO - will be reading about plummeting house prices over their breakfast cuppa.

What, I wonder, was the affect for hundreds of thousands of people who today opened the Mail On Sunday, turned to page 3 and saw this full page article!? I suspect more than one panicked.

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I can't find it on the Mail's online site yet but there is a full page article in the Mail On Sunday today claiming that the Blairs are about to sell their London 'moneypit' with al oss of about £675K!!!

WOW!!

Some of the quotes in the article are wonderful and hopefully it will appear online later on today. They are paying 14K a month in mortgage payments and their tennant is now moving out.

If true, this is yet another property disaster for the Blairs. They appear, IMPO, pretty useless are judging the housing market. They sold one house just before the boom and lost a fortune and now this.

WOW!! indeed, maybe he needs some realisation of how things are for us. It could effect policy making in the future, of couse he cares as we are the voters. Only as a vote though as it seems not as people.

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  • 335 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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