£100K homes return to London

crazygaijin

neilp wrote: »

This got me curious so I had a quick look on Rightmove and found this:

http://www.rightmove.co.uk/viewdetails-24037517.rsp?pa_n=1&tr_t=buy&mam_disp=true

I am sure there is plenty wrong with this flat, but given the location this is still probably a bargain - looks like the crash is well and truly upon us!

Very interesting Neilp, this one is in Old Kent Road but in Monopoly this one of the cheap brown squares isnt it? hahahaha:rotfl:

However I dont agree with your coment that the crash is well and truely upon us yet. I agree with the others that this is just the start...........

neverdespairgirl

bo_drinker wrote: »

Don't forget all you cockney cor blimey guvnor wannabees down there you are in the stabbing capital of the UK.

Such an exaggeration. I've never been stabbed more than twice a year.

neilp

Indeed, and it is not a pretty place. However, it is VERY central! I also agree that this is just the start...

neverdespairgirl

IT_nerd wrote: »

Surely it's only good for people who don't live there but wish to?
Being pedantic, I know.
There's a lot of people that are going to be looking at negitive equity.

No, also people who want to buy but now rent, people who want to upsize now or in the future, people who want their children to be able to live here....

crazygaijin

RDB wrote: »

Yes this isnothing special. There have been 2 bed flats in London for 79K for a few months, and things have got a lot worse since then.

When we see HOUSES for sub 100K in nice areas then we should think about buying

What are you talking about RDB?

There are 1000s of houses for sale now in London for sub 100K.

Just do search on rightmove for sale max price 100K in London it just says houses 1000+ and flats 1000+ because thats the max number it shows but there are probably several thousand available.

<LI class=parent id=ds-primaryDisplayPropertyType-houses>

Houses (1000+) <LI class=nested id=ds-secondaryDisplayPropertyType-detachedshouses>Detached houses (160) <LI class=nested id=ds-secondaryDisplayPropertyType-semidetachedhouses>Semi-detached houses (128) <LI class=nested id=ds-secondaryDisplayPropertyType-terracedhouses>Terraced houses (540) <LI class=nested id=ds-secondaryDisplayPropertyType-parksandmobilehomes>Mobile / Park Homes (295) <LI class=nested id=ds-secondaryDisplayPropertyType-boats>Boats (10) <LI class=parent id=ds-primaryDisplayPropertyType-flats>Flats / Apartments (1000+) <LI class=parent id=ds-primaryDisplayPropertyType-land>Land (302) <LI class=parent id=ds-primaryDisplayPropertyType-commercial>Commercial Property (602)
[*]Other (49)

• Property style:
  • Bungalow (108)
  • Character (15)

• Preowned & new homes:
  • Pre-owned homes (1000+)
  • Brand new homes (1000+)

• Outside space:
  • Garden (1000+)
  • Parking (1000+)

• Ways to buy:
  • Auction (226)
  • Part buy, part rent (1000+)

• Retirement properties:
  • Retirement (637)
  • Non-retirement (1000+)

novazombie

There are many properties for for sub 75K in London. So forget sub 100K.

This one is typical it just wont sell at auction, this is just one example it keeps on being relisted but know one wants to buy these flats. I wonder how low the price will go on flats in London to actually sell them. If it doent sell for 75K what about 50K next year? Or 30K the year after?

http://www.rightmove.co.uk/property-for-sale/property-23648522.html

Yoshua

On that 75K flat in NW10 the rightmove page says at the bottom:

We are currently taking instructions for our next auction, Late February 2009, to be held in the new Connaught Rooms, London. If you have a property to sell or are experiencing difficulty selling your property call the auction department on
020 8992 0056 and ask to speak to Paul Stevens or Matthew Cunnah to discuss the benefits of selling by auction.

`having difficulty selling your property` who isnt?

The only ones making money in this HPC are the auctioneers, because every time a flat like this doesnt sell the owner has to pay fees anyway. It will just make the sellers even more inclined to take incredibly
low offers.

RDB

Studio flat with parking

http://www.rightmove.co.uk/property-for-sale/property-20112352.html

17 Bourdon Road, Penge SE20, Guide Price £20,000 Studio flat for sale

neverdespairgirl

The New Connaught Rooms are incredibly swanky.

I did my bar exams there (no idea why)

crazygaijin

I am surprised at the number of flats available in London for 20 or 30K.


http://www.rightmove.co.uk/property-for-sale/property-11354454.html

I havent seen prices like this in London since over 10yrs ago.

This situation is unprecedented.