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BuyingBear

The House That Just Won't Sell

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The house that just won't sell

After months of speculation The Sunday Times can reveal that Nether Lypiatt Manor, the country home of Prince and Princess Michael of Kent, has had £500,000 lopped off its asking price. Now — almost — anybody with £5.5m to spare can live like royalty.

The Kents’ eight-bedroom home, once described as a “delectable doll’s house”, is set in 36 acres of prime Gloucestershire, near Stroud, but after nine months on the market and no takers, the royals have been forced to call in the help of a second estate agency, Knight Frank, to jointly market the property with Savills.

[..]

When it hadn’t sold by the autumn, rumours began to circulate that the princess was trading on her royal status — Prince Michael is the Queen’s first cousin — but the feeling of some property professionals is that £4.5m is a more realistic price.

Nether Lypiatt dates back to the early 18th century. It was built in 1703 for Judge Charles Coxe, who loved animals and mistreated humans. The story has it that Coxe hanged one of the ironsmiths who worked on the elaborate front gate, but only after waiting until he had finished the job, and that the house is now haunted. Another tale involves a former owner who bought the house with money inherited following a double murder.

Buyers, too, seem to be rushing away from the house. It has had seven owners in 100 years and been exorcised two or three times.

[..]

At this time of year, it is common practice for agents to “correct”, or reduce, asking prices of country houses that came on the previous spring and haven’t sold. Now is the time they will parcel-up and lot larger estates, to mop up interest before the market takes off once more.

Yet agents and buying agents, with unusual coyness and some desperation, are reporting a lack of stock and turning away buyers. They don’t know of any other large houses that have come down in value.

[..]

One issue is the Stroud Pony Club. Buyers have been put off by the noise from the club, which owns the field directly opposite the Kents’ wrought- iron gates. Locals say that the public-address system which, during weekend gymkhanas, blasts out commentary on little Johnny and Amelia’s equestrian skills, is as offputting as the smell of frying onions from the mobile burger van.

Well it looks like they plan on making another killing, lets hope the two agents aren't strung up on the frontgates. This is where it gets interesting, it's mentioned in the Times article too.

However, rumours of the house being haunted discouraged potential buyers and the Kent's eventually bought the house in 1981 for £300,000

£300,000 > £6,000,000 in 25 years. :lol: That's a HPI of 2000%, 80% a year.

It's on with Savills. I wonder if Rightmove have recorded a rise in the mean asking price by 400% in the surrounding area? :)

Edited by BuyingBear

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Ah-

But what most people (sheeple) don't get is Inflation

that's why they say houses always go up, but then so do wages, price of new cars, living expenses,etc. Inflation.

;)

Yeah, most people get 80% pay rises :)

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£300,000 > £6,000,000 in 25 years. :lol: That's a HPI of 2000%, 80% a year.

Nah... 300k to 6000k in 25 yrs is 12.75% per year. Still totally bonkers though.

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Had a nosy look at it the other week , very nice it has to be said.

Wife and I both agreed it was a touch outside our price range. :D

Nice location though.

Dames :)

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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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