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Why aren’t properties in this block selling?
Comments
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Yes, that could become problematic.GDB2222 said:There’s plenty of scope for disturbance from ground floor shops, with very long opening times these days, and/or smelly food preparation, for example.0 -
They’re currently offices and an aesthetic clinic.ReadySteadyPop said:
Yes, that could become problematic.GDB2222 said:There’s plenty of scope for disturbance from ground floor shops, with very long opening times these days, and/or smelly food preparation, for example.0 -
Leases can change though, especially in turbulent times.Ybe said:
They’re currently offices and an aesthetic clinic.ReadySteadyPop said:
Yes, that could become problematic.GDB2222 said:There’s plenty of scope for disturbance from ground floor shops, with very long opening times these days, and/or smelly food preparation, for example.0 -
This one has now gone down to 300k. It makes me think there’s something seriously wrong with these properties. How else can a new build go from 400k to 300k. That’s a 25% depreciation.As a comparison, this new build from a similar time (I think around 2018-2019) has held its value much better. https://www.rightmove.co.uk/properties/1581640520
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New builds often lose value initially. People like the attraction of a new property and also schemes like help to buy were only available on new builds. There is also a tendency for people to only stay in their first time bought flats for a few years, so too many on the market at one time can deflate the prices.
That one has dropped from 315 to 300 according to my property tracker app, not 400. It's also available with shared ownership, which some people find offputting.I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.1 -
Your comparing Woodside Park with North Finchley. Woodside Park is a nicer area and nearer the tube for commuters. The Woodside Park flat is also on a quiet road as opposed to the main A1000.Ybe said:This one has now gone down to 300k. It makes me think there’s something seriously wrong with these properties. How else can a new build go from 400k to 300k. That’s a 25% depreciation.As a comparison, this new build from a similar time (I think around 2018-2019) has held its value much better. https://www.rightmove.co.uk/properties/158164052I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.2 -
There is also currently another new build being built which I found the planning permission for nearby but I don’t know when they will go on sale. How can I find out? I tried contacting the agent on the planning application but no response.0
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Are you saying that the £300k one was originally bought for £400k?Ybe said:This one has now gone down to 300k. It makes me think there’s something seriously wrong with these properties. How else can a new build go from 400k to 300k. That’s a 25% depreciation.As a comparison, this new build from a similar time (I think around 2018-2019) has held its value much better. https://www.rightmove.co.uk/properties/158164052No reliance should be placed on the above! Absolutely none, do you hear?0 -
Yes although I believe originally it was sold as shared ownershipGDB2222 said:
Are you saying that the £300k one was originally bought for £400k?Ybe said:This one has now gone down to 300k. It makes me think there’s something seriously wrong with these properties. How else can a new build go from 400k to 300k. That’s a 25% depreciation.As a comparison, this new build from a similar time (I think around 2018-2019) has held its value much better. https://www.rightmove.co.uk/properties/1581640520 -
Shared ownership is always overpriced. I can see a previous price of £315, listed in December and now reduced to £300.Ybe said:
Yes although I believe originally it was sold as shared ownershipGDB2222 said:
Are you saying that the £300k one was originally bought for £400k?Ybe said:This one has now gone down to 300k. It makes me think there’s something seriously wrong with these properties. How else can a new build go from 400k to 300k. That’s a 25% depreciation.As a comparison, this new build from a similar time (I think around 2018-2019) has held its value much better. https://www.rightmove.co.uk/properties/158164052I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0
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