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Studio asking prices down a lot - WC1 UPDATED 23rd NOV
neverdespairgirl
Posts: 16,501 Forumite
In my periodic rambles around Rightmove, I have noticed that studio prices are dropping a lot.
There is a particular block in WC1 I've been keeping an eye on. It's useful because it's absolutely massive, and mostly studios, so there are always flats up for sale in that block.
A year ago, the cheapest in that block was on for the insane asking price of £240k. Now, the cheapest (as of today) is on for £189k
http://www.rightmove.co.uk/viewdetails-23877521.rsp?pa_n=25&tr_t=buy&mam_disp=true
When I was at university, I knew someone who lived in a studio in that block. His parents had bought it for £40k in 1995.
There is a particular block in WC1 I've been keeping an eye on. It's useful because it's absolutely massive, and mostly studios, so there are always flats up for sale in that block.
A year ago, the cheapest in that block was on for the insane asking price of £240k. Now, the cheapest (as of today) is on for £189k
http://www.rightmove.co.uk/viewdetails-23877521.rsp?pa_n=25&tr_t=buy&mam_disp=true
When I was at university, I knew someone who lived in a studio in that block. His parents had bought it for £40k in 1995.
...much enquiry having been made concerning a gentleman, who had quitted a company where Johnson was, and no information being obtained; at last Johnson observed, that 'he did not care to speak ill of any man behind his back, but he believed the gentleman was an attorney'.
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Comments
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Only 236 square feet, it's a tiddler. Surely it has to fall further.0
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Aparently studios seem to suffer far more in housing downturns. Grim living full stop.:exclamatiScams - Shared Equity, Shared Ownership, Newbuy, Firstbuy and Help to Buy.
Save our Savers
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We were looking to buy a studio, but with the price falls can see that a 1, possibly even a 2 bedder is not out of the realms of possibility.
As an aside, I wish it were compulsory for all agents to disclose the lease length and service charge when advertising.0 -
until it hits around £165k it's not appealing for anyone to invest in for now.
if it's bought for a home or accomodation whilst in London - the price would probably be dependent on personal circumstances.
as Brit says studios are always the first to be hit in a recession0 -
Has 'studio' replaced bedsit ?"An arrogant and self-righteous Guardian reading tvv@t".
!!!!!! is all that about?0 -
offtop
very nice looking 2-bed in that area, http://www.rightmove.co.uk/viewdetails-10439880.rsp?pa_n=1&tr_t=buy&mam_disp=true ))
thay should have marked it with "Viewing advised, but please take your dyson hoover with you"All my life my mother told me the storm was coming (c) Terminator 30 -
"bedsit" is when there is no own kitchen and bathroom ..robin_banks wrote: »Has 'studio' replaced bedsit ?
http://en.wikipedia.org/wiki/BedsitAll my life my mother told me the storm was coming (c) Terminator 30 -
posh bedsit then ?."An arrogant and self-righteous Guardian reading tvv@t".
!!!!!! is all that about?0 -
Grim living full stop.
Although it wouldn't be my first choice, if my circumstances were different I might. I've stayed in two studios that were outstandingly lovely and if I ended up alone and animal-less, especially as I get older, ditching all the blongings and moving to a well appointed studio in a super area might not be so awful.0 -
i would do the same too if i was single i wouldnt go back to flatsharing. i would spend a bit more and stay in a studio or a small apartment now that their prices are falling. if in a good location then no reason why a decent rent cant be expected to cover atleast a big part of the mortgage hopefullylostinrates wrote: »Although it wouldn't be my first choice, if my circumstances were different I might. I've stayed in two studios that were outstandingly lovely and if I ended up alone and animal-less, especially as I get older, ditching all the blongings and moving to a well appointed studio in a super area might not be so awful.bubblesmoney :hello:0
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