'50% drops'

chrisandanne

pickledpink wrote: »

Yep, you're right!

Must have been my long lazy Italian lunch (with oodles of crisp white wine:p )

quote]


Pickledpink, Have you tried saying Londonlandlady after 'oodles of crisp white wine' ? A x

p.s. I wouldn't bother posting any more sums, you must have been bunking off down the shops the day the class did percentages. A

blisk

What's there to say.

dervish

mewbie wrote: »

I don't buy the nice houses don't drop in price argument. It's like "nice girls don't", when actually they do.

they drop their knickers!!

ad9898_3

Honestly Steve, you obviously have a few quid, I suggest putting it in Icesave than property, BTL even at 30% off is extremely risky at this time, when the population finally wake up that the whole of this last 8 years HPI was built on liar loans and credit that a tramp could have got by putting his bottle of cider up as collateral, prices are going to capitulate.

As I've already said the forced sales will set the market level, what I mean by that is not the forced sale now, it will be the forced sales in the next 2-3 years.

Cannon_Fodder

ess0two wrote: »

The 'nice' properties are being pulled or are not taking inflated drops,at least the one's i'm interested in..

Obviously everyone has different views on what they like, and the location they like;

But examples of "nice" properties having to drop their price, by more than the average...

http://www.rightmove.co.uk/viewdetails-19806023.rsp?pa_n=1&tr_t=buy&mam_disp=true

http://www.rightmove.co.uk/viewdetails-20792774.rsp?pa_n=2&tr_t=buy&mam_disp=true


BOTH 20% drops. Maybe struggling LL, or "comitted" OO...but not unique.

Either the vendor/EA got it wrong, over-priced in the first place, or reality is setting in and prices are having to drop...?

chucky

not sure what you're trying to prove here but makes no sense whatsoever.

one is a two bed and the other is a three bed property
the 2 bed is 1333sq feet and the 3 bed is 1498sq feet - price per sq foot very important in Central London.
one is on the Kings Road and the other is on Beaufort Street - two totally different streets which would have totally different pricing factors.

comparing two random properties that you find on Rightmove isn't really great and not accurate.

there are two many armchair economists and property experts on here unfortunately. there are some that have never left Stockport and are experts on Central London!!!

Cannon Fodder I'm not disputing there are struggling LL's out there, just don't agree with your examples. do yourself a bit more research please...

Cannon_Fodder

Its not a comparison between the two. It was a response to;

Originally Posted by ess0two
The 'nice' properties are being pulled or are not taking inflated drops,at least the one's i'm interested in..


Its two examples of "nice" properties having dropped their prices - by 20%, which to me is an inflated drop, if the average Halifax/Nationwide is 10-12%.

The vendor/EA may have been in denial and over-priced initially although one went "under offer"...but such large adjustment to price in such short time, must be indicative of something.

People have been debating that its only "new-build flats" that are really getting hammered, its skewing the stats etc...

These however seems perfectly nice properties. Original features coming out of every orifice.

Now yes, I don't know the area (was trying to pick something "generically nice" that everyone could identify with - "swanky posh flat in Chelsea") so it could be rubbish streets, but if thats the case how the heck did the street ever command £1M in 2007 - for flats???

chucky

of course 'nice' properties will drop in value, however they will drop less than a property next to a motorway or one that you have to get to the bathroom by walking through the kitchen for example.

the definition of a 'nice' property is subjective too. something that is 'nice' to me may not be 'nice' to you. this is why pricing a property yourself and not being totally obessed on the Halifax or Nationwide figures or even what people post on this forum is important.

these numbers are specific to certain criteria and are not specific to the whole of the UK or even all property prices in the UK - they help as an indicator but they are not accurate and whoever believes them 100% is as bad as someone who takes advice from someone on this House prices forum.

hethmar

would_be_FTB wrote: »

It's greed because you should only have one house, you are stopping people like me from buying a house so you will get what you deserve and lose all your money, just like those greedy Icesave investors who were not loyal to British banks and invested all their money supporting Iceland's economy not ours. I hope your money was in there too!

You should donate money to human charities perhaps one that helps FTB's get on the housing ladder not animal charities.

This is a wind up isnt it? First post?

Cannon_Fodder

I think everyone would agree this;

http://www.rightmove.co.uk/viewdetails-16262797.rsp?pa_n=2&tr_t=buy

...is a "nice" property. And some.

Dropped by £3M...rubbish EA mis-valued it, or the market changing?


(I though all the Russian oligarchs (or is that gas/oilgarchs ?!) were snapping up the top end? Maybe this is too cheap, now, to be considered.)