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Advice - crazy valuation (Countrywide)
Comments
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Can you post a link?0
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Considering that you bought at the absolute peak, that valuation looks about right. The percentage decline is certainly commensurate with other parts of London, and the ongoing corrections being observed in other global bubble cities in that price category (Sydney, Auckland, Vancouver, Toronto). As bond yields continue to gently rise over the coming 3-7 years you can expect the correction to continue.
As somebody commented above, comparing with listed properties, not actual sold prices is pointless given that in the £1M+ category in the UK, 85-90% of places never actually sell (a dirty little secret of the Britush property industry).
Really....?0 -
As somebody commented above, comparing with listed properties, not actual sold prices is pointless given that in the £1M+ category in the UK, 85-90% of places never actually sell (a dirty little secret of the Britush property industry).
What a load of tosh, I work for a company that deals at this level and more and we aren't experiencing this at all. Irrespective of price if a house is priced correctly for condition, location and market conditions it will sell.
A valuation for a remortgage is different to a sale/purchase, surveyors tend to only value up to 90% of market value when doing a remortgage.This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com0 -
900K for 90% value sounds about right to me - in my area it is slightly cheaper than yours but purchasers are going in well under the asking price as nothing here is selling.0
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Crashy_Time wrote: »Really....?
Across the UK as a whole, when considering the period over the past couple of years since the stamp duty changes, yes.0 -
Who is the lender? Countrywide wil be working under their instruction.0
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Does this reflect the fact that new build flats are currently hard for developers to offload and the valuer just assumes that second hand ones will be even more so?0
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