Friday, Dec 04, 2020

487.5 K to 900K in two months

Zoopla: 6 bed detached house for sale

Looking at this house on Zoopla the description says "Requires complete refurbishment".
OK, that might be fine then I reached the bottom on the page which says price history.
Last sold was 487,500 in Nov 2019. In less than two months the property was put on the market for £900,000 almost double the previous sold price.
More story in comments

Posted by deepak @ 05:12 PM (2726 views)
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6 Comments

1. deepak said...

So I called the estate agent and asked them, its a Grade II listed building needs a complete refurb, as you have specified in description .
Please can you let me know what changes were made to the property that accounted for the near doubling of the price? Also when its a listed building it would need approvals as well.

I have called twice so far and once no one was available, next the call got dropped in the middle of the conversation.

This is biggest thing to be aware of is the search shows asking price drop of 22.2% but it is still 212,450 or 43.5% higher than a year ago.

Friday, December 4, 2020 05:12PM Report Comment
 

2. khards said...

Looks like a damp and cold money pit to me

Wednesday, December 9, 2020 08:40AM Report Comment
 

3. deepak said...

You bet it is. Now twice the price as well.
Best of central bank policies.

Wednesday, December 9, 2020 10:49PM Report Comment
 

4. landofconfusion said...

(Guide)Price is now only 699,950. Quick, buy it now before it crumbles and becomes a vacant lot with PP!

More seriously though I've never really understood the attraction of buying a listed building. OK, if you've got serious amounts of cash doing nothing then the architecture often looks nice and could be a decent enough home but is it really worth it given all the hassle, inconvenience and expense?

Thursday, December 10, 2020 08:55AM Report Comment
 

5. deepak said...

Looking at the site not for buying but looking at the data for asset deflation.
Here I was looking to prick the price bubble and asking the agent what was the reason for increase. As expected no one knows and just chancers.

The last two decades the country has not produced enough for what it spends, The extra money has just come from asset appreciation/bubble and refinanced.

Thursday, December 10, 2020 09:45PM Report Comment
 

6. landofconfusion said...

I'd say the money has or rather is effectively coming from future generations. Decrease the cost of borrowing and you can increase the price. Loosen credit restrictions and you can allow people to borrow more and in turn pay more. One group gets money for nothing whilst the other, let's call them "Generation Cuck", voluntarily becomes shoebox-living debt slaves. And almost none of them complain about it.

Tuesday, December 15, 2020 05:23PM Report Comment
 

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