London Has Peaked

Bubble_and_Squeak

here you go,
another one
http://www.rightmove.co.uk/property-for-sale/property-31524504.html
there are 73 images for you to troll through to justify a £115,000 difference in the price tag.

chewmylegoff

Bubble_and_Squeak wrote: »

farmlilo road, yes! farmilo road, walthamstow
near the bakers arms
i know it well
we currently have two houses up for sale on farmilo road
one in much better shape than the other
http://www.rightmove.co.uk/property-for-sale/property-32150559.html
http://www.rightmove.co.uk/property-for-sale/property-32138619.html
both on for the same asking price
which is £36,000 lower than the previous sale on the street
of course, the bulls will shout out "oh, the last sold house was far superior to those two match boxes" as they always do
but
every day
the price of a london house drops that little bit further
drip by drip
drop by tiny drop
the day of the bear approacheth

Not to burst your bubble....but the previous sale was number 76. A quick look at street view shows that 76 is an end of terrace and zoopla indicates it is a 4 bedroom house.

You have posted two 3-bed terraced houses which are currently on the market with an asking price ~8% lower than the recent sale price of a 4-bed end of terrace. I'm afraid I don't agree this is a sign of falling prices.

ukcarper

Bubble_and_Squeak wrote: »

it does have many similarities
a house has utility value, though

Similarities very loosely if you stretch it.

Bubble_and_Squeak

chewmylegoff wrote: »

Not to burst your bubble....but the previous sale was number 76. A quick look at street view shows that 76 is an end of terrace and zoopla indicates it is a 4 bedroom house.

You have posted two 3-bed terraced houses which are currently on the market with an asking price ~8% lower than the recent sale price of a 4-bed end of terrace. I'm afraid I don't agree this is a sign of falling prices.

ah, the old zoopla trick
nay bother, i'm sure these asking prices will be cut by next week
how much is a bedroom worth?

chewmylegoff

Bubble_and_Squeak wrote: »

here you go,
another one
http://www.rightmove.co.uk/property-for-sale/property-31524504.html
there are 73 images for you to troll through to justify a £115,000 difference in the price tag.

The recently sold one is about 40% bigger in terms of square footage according to the respective floor plans...is this called the "old bigger house trick".

Bubble_and_Squeak

ukcarper wrote: »

Similarities very loosely if you stretch it.

ever increasing HPI requires ever increasing money coming in, no?
now that the money coming in has reduced the bubble is deflating.
it could unwind just as quickly as it went up.
once the expectation of falling prices takes hold people will delay their purchase.
alas, such is the nature of a bubble.

Bubble_and_Squeak

chewmylegoff wrote: »

The recently sold one is about 40% bigger in terms of square footage according to the respective floor plans...is this called the "old bigger house trick".

oi!
quit stealing my thunder!
get your own!

chewmylegoff

Bubble_and_Squeak wrote: »

ah, the old zoopla trick
nay bother, i'm sure these asking prices will be cut by next week
how much is a bedroom worth?

Would you pay 8% more for an extra bedroom and end of terrace rather than mid terrace? I bloody well would.

Bubble_and_Squeak

why is this one £115k cheaper?
http://www.rightmove.co.uk/property-for-sale/property-31524504.html
and i wanna see a £115k answer, not just the old bigger shed trick!

chewmylegoff

Bubble_and_Squeak wrote: »

why is this one £115k cheaper?
http://www.rightmove.co.uk/property-for-sale/property-31524504.html
and i wanna see a £115k answer, not just the old bigger shed trick!

See above... The one that sold for £565k is about 950 sq ft and the one that is listed for £450k is about 675 sq ft...