Monday, June 27, 2011

Daily Mail says house price falls are good, but only when celebrities are buying

Way under the odds: TV racing presenter Emma Spencer has snapped up this £2.95m Newmarket home – previously on the market for £7m

Emma has just bought a luxurious 11,000 sq ft house in Newmarket for £2.95million. The house featured in The Mail on Sunday last year. ‘I remembered seeing it when it was on the market three years ago for £7million,’ says Emma. ‘So when I saw the price had been radically reduced, I had to have a look.‘ Emma's salary is not enough to buy her new home by herself. Instead she has persuaded her wealthy brother, who lives in London, to buy a share in the property as an investment. The former owners claimed they had nearly sold the house for £5million just before the property crash, were then forced to reduce the asking price to £3.95million and again last year to £2.95million.

Posted by drewster @ 11:52 PM (1617 views)
Please complete the required fields.



3 thoughts on “Daily Mail says house price falls are good, but only when celebrities are buying

  • For any doubters out there, that’s a 58% fall – in Newmarket.

    Reply
    Please complete the required fields.



  • “Stuart Harris, at Carter Jonas in Cambridge, which covers Newmarket, says although Emma has bought her new home for what seems a massive discount, it must have originally been significantly overpriced. ‘You wouldn’t value a property in Newmarket at more than £2million if it doesn’t come with land,’ says Harris.”

    So, of course, she pays well over £2 million for the house (which doesn’t come with land).

    I’ve seen her old house on the market and wondered exactly who would create such a monstrosity — the garden looks like an advert for a concrete paving manufacturer from Eastern Europe.

    Reply
    Please complete the required fields.



  • I look forward to Part 2 of this story – as her and her ex-husband attempt to sell their marital home. Hmmm, will they be able to achieve their asking price or will this story of how lucky she has been to bag a bargain highlight the dire state of the market in the area? Stay tuned……

    Also, love the fact she can only afford to buy it because of the wealth of her brother. Another potential minefield as the market continues to soften.

    Reply
    Please complete the required fields.



Add a comment

  • Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
  • Please note that any viewpoints published here as comments are user´s views and not the views of HousePriceCrash.co.uk.
  • Please adhere to the Guidelines

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes:

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>