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gfromls

Blairs 675k Loss

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i did this post ealyer today (my first) – it was in response to the main topic

started by “the masked tulip”

Quote :

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.

Unquote.

Now if I have my figures right the London market is in tatter already.

So how come the nationwide say its on the rise?

Am I missing something.

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Where does the Mail's 'property expert' get his figures from?

Don’t know……….

Look at this and see for yourself

www.rightmove.co.uk/viewdetails-5589241.rsp?pa_n=1&tr_t=buy

it’s in blairs street and on the market for 2.9m

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Now if I have my figures right the London market is in tatter already.

So how come the nationwide say its on the rise?

Am I missing something.

Interesting figures on the Blair's house. Somehow my heart fails to bleed.

But yes you are missing something - the fat that multimillion pound houses are a bit of a sub-section of the market. This one (overpriced in the first place, bought because of the Blair's greed and Cherie's obsessive belief that they "lost out" because of selling their Barnsbury house) falling doesn't meant he London market is in tatters any more than a few Chelsea and Marylebone millionaire pads going at increased prices after city bonus season means that London prices are rising. The super-rich market doesn't really bear much relation to the rest of the market. Overall London is about stgnant. A few areas are rising (East London, unwisely in my opinion) a few are falling (parts of West London, new-builds in certain areas), and most of it is pretty level. That might yet change, but don't read too much into the Blair's misfortune. Laugh at it, yes, but don't think it means London is that far down in general.

Incidentally, I saw a good article when they bought it questioning how they had been given the mortgage. It could only have been based on a fairly high estimate of their projected future earnings, as it was out of whack with even their high current wages. Tony may end up having to churn out those memoirs just to pay off their negative equity. Any odds on them being the first ex-first family to go bankrupt??

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I can see your point to an extent but:

I typed in the exact postcode for that street

And that street only and the nationwide calculator

Said that prices had gone up 2.55% in that street

But surly the market is saying they have gone down.

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Incidentally, I saw a good article when they bought it questioning how they had been given the mortgage. It could only have been based on a fairly high estimate of their projected future earnings, as it was out of whack with even their high current wages. Tony may end up having to churn out those memoirs just to pay off their negative equity. Any odds on them being the first ex-first family to go bankrupt??

Maybe this is why he wants to go bankrupt. I can think of at least two great PMs (Pitt the Younger and Churchill) who had loads of money difficulties. Blair is always so keen to be up there with his place in history.

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I can see your point to an extent but:

I typed in the exact postcode for that street

And that street only and the nationwide calculator

Said that prices had gone up 2.55% in that street

But surly the market is saying they have gone down.

Yes, but any calculator of that sort is a clumsy instrument - it is probably running on the average for the postcode, or even less accurate, the average for London in general. There has been a lot of movement in subsections of the market, but the average property that normal people would consider in that area may well have moved up by 2-3% over that period. There's some fairly normal ex-council property in that area, not cheap, but not several million.

Maybe this is why he wants to go bankrupt. I can think of at least two great PMs (Pitt the Younger and Churchill) who had loads of money difficulties. Blair is always so keen to be up there with his place in history.

Good point, the famous "place in history" he is ludicrously lokoing forward to. Wilson had money problems too - there wasn't the usual cushy city place or memoir deal for him. At least he has a place in history as having resisted the considerable pressure put on him by the US, LBJ in particular, to join in the Vietnam war. If Blair had half his common sense we might not be in Iraq now. I think Blair's place in history will unfortunately be more of a lesson in what not to do.

Edited by Magpie

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  • 301 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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