Allsops latest auction results

hethmar

Beautiful houses and lovely settings. The only other time we got to Blackheath much as kids was when the annual fair was on

Here you go, have a larf (your mum would remember them) The weird looking guy on the key board is the actual bloke (Manfred).

http://video.google.co.uk/videosearch?q=Manfred+mann&ie=UTF-8&oe=utf-8&rls=org.mozilla:en-GB:official&client=firefox-a&um=1&sa=X&oi=video_result_group&resnum=4&ct=title#

baby_boomer

CityWire's take on the auction - Sellers slash reserve prices

86% were sold - up from 59% - because vendors were persuaded to be more realistic about their reserve prices in the wake of recent publicity surrounding 15% falls in the market.

baby_boomer

Sunday Times

First time buyers hit the auctions including Allsopps.

Perhaps this expalins the rise in sales made as the ST suggests private buyers are competiting against the professionals.

But I liked the reader comment at the end of the article, allegedly from a "former EA."

I wouldn't waste your hard earned cash on areas like Brockley.

Wait another year and you will find you can afford Clapham and Battersea.

Wait another two years and you will find you can afford to move to Fulham.

Happy hunting from a former estate agent.

neverdespairgirl

http://www.auction.co.uk/residential/pastResults.asp?A=582

Nikki

neverdespairgirl wrote: »

http://www.auction.co.uk/residential/pastResults.asp?A=582

Thanks, the maisonettes/flats at the top of my rd were in that auction. They've been trying to sell them for over 12 months, I think they were BTL's originally up for around 230k. They sold at the auction for between 120 and 134k. All the flats in the block sold between Dec 2004 and Mar 2005 for between 185 and 200k and one was resold in March this year for 230k. By order of mortgagees - I assume that means repos.

beegee123

It does.

We bought at the latest Allsops auction. The house was originally sold in 2005 for £250,000, reposessed in April 2008, put on the open market for £230,000, then dropped to £210,000 when no offers were made after 3 months or so.

We paid £150,000.

Scary.

meester

Just crunched the numbers on the auction.

ALL of the houses bought since 2004 sold at a loss.

To be specific, that's 112 out of 112 for which my program found data.

For houses bought in 2004, 1 made a profit (Halifax semi), 3 broke even, and 30 sold at a loss. 25 out of 30 houses bought in 2003 made a loss, the others a profit.

Half of the 16 houses bought in 2002 made a profit, the others a loss.

Eight out of 9 bought in 2001 sold at a profit, the 9th a small loss.

19 out of 19 bought in 2000 or earlier sold at a profit.

So at the moment, if you bought in 2001 or earlier, it seems that you still have equity. Otherwise, it depends on the area and the property.

About 10% of the properties saw 50% cut off (or more). The worst, a flat in Inverclyde, at -73%, followed by 71% off a terraced chalet in Anglesey.

20 of the 37 50%ers are flats.

Here's a list of the biggest losers' towns.

Bury
Longwell Green
Cleator
Cardiff
Cardiff
Cardiff
Gellihaf
South Croydon
Bexley Park
Swadlincote
Balby
Dudley
Shawlands
Hull
Liverpool
Conwy
Benllech
Leeds
Manchester
Maidstone
Gateshead
Mansfield Woodhouse
Northampton
Port Glasgow
Boston
Skegness
Purfleet
Purfleet
London SE28
London SE28
London SE28
London SE5
Swindon
Warrington
Great Sankey
Droitwich
Bilston


SE28 is the notorious Thamesmead, SE5 Camberwell

The South Croydon flat fell from £150k to £76k - close to its 1997 sale price of £60k

A quick look on rightmove suggests people haven't quite got the message. Same road:

Tollgate Court, Moreton Road, South Croydon
From £200,000
LAST APARTMENT REMAINING. INCENTIVES AVAILABLE. A second floor new build two bedroom apartment situated in South Croydon


Ha ha ha

164,995
Good sized (in our opinion), split level 2 double bedroom conversion flat situated in the much sought after road in South Croydon approx 4 mins from British Rail

GDB2222

Thanks for all the hard work, Meester! I think you have to accept that auction prices are a bit lower than sales by private treaty - probably 10% lower.