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Legal_Landlord

How To Lose £47k In 10 Months

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I have been keeping an eye on this development since it was completed 2 years ago.From the start the flats were vastly overpriced and Millers refused to reduce their prices.Slowly over the last 2 years the prices have been reducing.Within the last day or so there has been a drastic reduction to a minimum of about £125k.

http://www.millerhomes.co.uk/explore/EastMidlands/10293/plan

In Oct 2007 someone paid £172,950 according to rightmove for 1 of them.

26 Oct 2007 22 Manor Gardens Close, Loughborough, Leicestershire LE11 1DL Flat (New build) Leasehold £157,950

28 Sep 2007 14 Manor Gardens Close, Loughborough, Leicestershire LE11 1DL Flat (New build) Leasehold £158,000

23 Jul 2007 1 Manor Gardens Close, Loughborough, Leicestershire LE11 1DL Flat (New build) Leasehold £172,950

29 Jun 2007 16 Manor Gardens Close, Loughborough, Leicestershire LE11 1DL Flat Leasehold £138,875

24 May 2007 11 Manor Gardens Close, Loughborough, Leicestershire LE11 1DL Flat (New build) Leasehold £144,500

11 May 2007 5 Manor Gardens Close, Loughborough, Leicestershire LE11 1DL Flat (New build) Leasehold £150,000

26 Apr 2007 12 Manor Gardens Close, Loughborough, Leicestershire LE11 1DL Flat Leasehold £146,450

20 Apr 2007 34 Manor Gardens Close, Loughborough, Leicestershire LE11 1DL Flat (New build) Leasehold £141,000

02 Mar 2007 10 Manor Gardens Close, Loughborough, Leicestershire LE11 1DL Flat Leasehold £140,000

23 Feb 2007 26 Manor Gardens Close, Loughborough, Leicestershire LE11 1DL Flat Leasehold £148,000

26 Jan 2007 15 Manor Gardens Close, Loughborough, Leicestershire LE11 1DL Flat Leasehold £153,000

22 Dec 2006 4 Manor Gardens Close, Loughborough, Leicestershire LE11 1DL Flat Leasehold £169,450

01 Dec 2006 7 Manor Gardens Close, Loughborough, Leicestershire LE11 1DL Flat (New build) Leasehold £158,950

All these owner must be pi$$ed off that they bought when they did rather than waiting .

They are still overpriced IMHO :o:o:o

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Its the total collapse of the BTL market that is causing the house price crash. It was the BTL that was inflating the bubble the last few years. The media and experts seem to omit this vital factor and pursue lack of mortgages and FTBs. When the market was going up it was all BTL, BTL, BTL. The media and experts now appear embarassed about mentioning this or stating the CRASH has been caused by BTL desertions and massacres in huge numbers.

Basically regardless of mortgages approval FTBs are staying out of the market and awaiting until prices reach affordable prices on their terms. The BTL joker card has been played and its been a disaster.

"A FALLING MARKET IS GREAT FOR FTBs, PUT YOUR LIFE ON HOLD AND SAVE 80K BY NOT BUYING TODAY"

an EA or so called Expert usually TV presenter (?? who said there is no Sub-Prime in the UK, This will brush over quickly, we have learnt by our mistakes before, soft landing ) these two beings who have a total vested interest in the market going up for their salaries and investments of course will say stop putting your life on hold and buy to today, they are worried about their vested interests not yours

Edited by joey

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Title a bit misleading, you lose or gain on the property market if you sell.

All those thousands who have seen their property double over the past 10 years will seen no benefit unless they sell up and its the same on the way down.

If your in long term and can keep up with the mortgage payments then why worry about what your home is worth.

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  • 395 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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