Jump to content
House Price Crash Forum
Sign in to follow this  
north/south divide

31% Reduction ... Where Can I Find It?

Recommended Posts

http://www.propertysnake.co.uk/site/detail/4069537

But I can't find it on any of the property websites... I would be very interested in finding out where this house is as I live in Churchdown and prices seem to hold their own in this area.

Thats a great reduction .. so I believe we are truly at the start of the crash.

interesting website - never seen propertysnake.co.uk before. Does seem to show prices are falling. I even ckecked the figures of price drops provided were correct by corroborating with Google cache :o

Share this post


Link to post
Share on other sites
http://www.propertysnake.co.uk/site/detail/4069537

But I can't find it on any of the property websites... I would be very interested in finding out where this house is as I live in Churchdown and prices seem to hold their own in this area.

Thats a great reduction .. so I believe we are truly at the start of the crash.

fish4homes have this two bed flat listed as a two bed home - might be this:

http://www.fish4.co.uk/iad/homes/advert?adId=14418286

Share this post


Link to post
Share on other sites
Guest grumpy-old-man
So is the lighter-coloured brick the floodline?

:D:D

worthy of a couple of those above imo.

Share this post


Link to post
Share on other sites
Guest Bart of Darkness

When I first started looking at PropertySnake, earlier in the year, the average reductions in the S20 area on the first page of results was about 4-3%. It's now 7-5%.

(Although PropertySnake did have major problems for a while due to not being allowed to garner information from the likes of RightMove, the number of matched properties seems to be back up to previous searches, and fewer duplicate items.)

Share this post


Link to post
Share on other sites

This is a long way from 'proving' we're in a crash situation - though I know y'all are gagging for a crash!

What it proves is that estate agents get over-ambitious and sometimes price initially to make the vendors happy and get the business. It's a short-term idea, though, because when no one goes to view, it's clear it's on too high, and then the price has to be dropped to attract in the buyers.

It happened to us last year. I reckoned our bungalow was worth around £150,000, but I let an EA persuade me to put it up for £175,000. Tumbleweed. Then he dropped it to £165,000. Finally, after nearly a year, we sold it (privately!) for £155,000 - right where I thought it was worth all along!

That was a drop of over 11%, but does it say prices in this area dropped by 11% in that period?

Of course not!!

Ever heard of the phenomena of twisting facts to fit the theory?

Cheers!

Share this post


Link to post
Share on other sites
This is a long way from 'proving' we're in a crash situation - though I know y'all are gagging for a crash!

What it proves is that estate agents get over-ambitious and sometimes price initially to make the vendors happy and get the business. It's a short-term idea, though, because when no one goes to view, it's clear it's on too high, and then the price has to be dropped to attract in the buyers.

It happened to us last year. I reckoned our bungalow was worth around £150,000, but I let an EA persuade me to put it up for £175,000. Tumbleweed. Then he dropped it to £165,000. Finally, after nearly a year, we sold it (privately!) for £155,000 - right where I thought it was worth all along!

That was a drop of over 11%, but does it say prices in this area dropped by 11% in that period?

Of course not!!

Ever heard of the phenomena of twisting facts to fit the theory?

Cheers!

Rightmove's house price index is based on initial asking prices only - so your property would have been counted at 175k and the fact that it sold for 155k or was reduced to 165k would not have been included. That's a good example of twisting facts - what a house sold for - to fit the Rightmove theory that prices are going up.

I know of no house price index that would have included your sale as an 11% drop in prices. Do you?

Share this post


Link to post
Share on other sites
http://www.propertysnake.co.uk/site/detail/4069537

But I can't find it on any of the property websites... I would be very interested in finding out where this house is as I live in Churchdown and prices seem to hold their own in this area.

Thats a great reduction .. so I believe we are truly at the start of the crash.

This is clearly an evaluation error by Fish4homes....

They have initially valued it either as a two bed terrace or

overlooked the fact that it is for over-55s only.

Hence the correction.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 355 The Prime Minister stated that there were three Brexit options available to the UK:

    1. 1. Which of the Prime Minister's options would you choose?


      • Leave with the negotiated deal
      • Remain
      • Leave with no deal



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.