We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
Debate House Prices
In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non MoneySaving matters are no longer permitted. This includes wider debates about general house prices, the economy and politics. As a result, we have taken the decision to keep this board permanently closed, but it remains viewable for users who may find some useful information in it. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Pheww, quite a drop!
GDB2222
Posts: 26,941 Forumite
Lots 40 and 41 in the Allsops auction
http://www.auction.co.uk/residential/lotDetails.asp?A=544&MP=24
These just went for £136k and £145k. I can find the second one on Nethouseprices - it sold for £239k in may 2004, as a new build. So, that's a 39% fall compared to the 2004 price.
:eek: :eek: :eek:
These are not the speculative builds in city centres up North. These are decent 2 bed flats in a leafy area of N London, where there is plenty of demand for this sort of property.
http://www.auction.co.uk/residential/lotDetails.asp?A=544&MP=24
These just went for £136k and £145k. I can find the second one on Nethouseprices - it sold for £239k in may 2004, as a new build. So, that's a 39% fall compared to the 2004 price.
:eek: :eek: :eek:
These are not the speculative builds in city centres up North. These are decent 2 bed flats in a leafy area of N London, where there is plenty of demand for this sort of property.
No reliance should be placed on the above! Absolutely none, do you hear?
0
Comments
-
Nice, maybe I need to go to some auctions
0 -
For the last few years, I don't think there were any 2 bed flats for sale in this part of N London for under £200k.
I don't know if there's something wrong with these particular blocks, but I haven't heard anything. A bit close to the main railway line out of King's Cross, but that's the only down-side I can think of, and that hasn't changed since 2004!No reliance should be placed on the above! Absolutely none, do you hear?0 -
I suscribe to a property auction mag. This months edition was quite surprising. It seems that the market has stalled and taking a huge down turn with lots of stuff unsold. Suddenly yields are very much on the way up and in particular hmo properties that might appeal to students. Only a few months ago this publication was promoting sales of public toilets!0
-
Here's your answer as to why -
http://www.homemove.co.uk/news/21-09-2008/prospective-buyers-to-benefit-as-sellers-cut-prices-at-auction.html0 -
Yeah, I did look at the 2-bed 2-bath one a couple of times - £146k for 2 beds and 2 baths is not bad at all in North London. The second bedroom is embarrassingly small, but could be rented out to a student or something to pay the mortgage. I decided that I don't especially want to move, though, and there's no sign of the market bottoming out before 2010 at the earliest, so the opportunity will come again!
The whole block is a new-build buy to let disaster zone. It's also hilariously all in Council Tax Band E. That must be an appeal waiting to happen, considering what the true value has been revealed to be. Lots of the people who bought for a quarter of a million are trying to get out, but they've only cut to around £180-200k. These auction results will be a real kick in the teeth / up the !!!! for them.Hurrah, now I have more thankings than postings, cheers everyone!0 -
It is the stabbing capital of the country that there London village. I wouldn't with a barge pole.I came in to this world with nothing and I've still got most of it left. :rolleyes:0
-
bo_drinker wrote: »It is the stabbing capital of the country that there London village. I wouldn't with a barge pole.
Totteridge? Zone 4? It's the stabbing capital in the same sort of way as Alderley Edge is Moss Side.Hurrah, now I have more thankings than postings, cheers everyone!0 -
bo_drinker wrote: »It is the stabbing capital of the country that there London village. I wouldn't with a barge pole.
You can tell this from your location in Hereford? congratulations.No reliance should be placed on the above! Absolutely none, do you hear?0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.3K Banking & Borrowing
- 254.4K Reduce Debt & Boost Income
- 455.4K Spending & Discounts
- 247.3K Work, Benefits & Business
- 604K Mortgages, Homes & Bills
- 178.4K Life & Family
- 261.5K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards