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 Â£2.95m Newmarket home â€“ previously on the market for Â£7m
Emma has just bought a luxurious 11,000 sq ft house in Newmarket for Â£2.95million. The house featured in The Mail on Sunday last year. â€˜I remembered seeing it when it was on the market three years ago for Â£7million,â€™ says Emma. â€˜So when I saw the price had been radically reduced, I had to have a look.â€˜ 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 Â£5million just before the property crash, were then forced to reduce the asking price to Â£3.95million and again last year to Â£2.95million.