How far will house prices fall [volume 5]

[V6Alfisti]

emicen said:

I can’t figure out how to get Rightmove to show me the previous listing prices, it just tells me on the app there’s been a reduction. Can anyone tell me what this was reduced from:

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

Listed on 13/08 at £150k, so a 5k drop.

[muffinmenace]

number2 said:

How do you get the price change history?

https://chrome.google.com/webstore/detail/property... - Chrome desktop only unfortunately. Tracks house price changes when someone with the extension looks at it, but it's not clever enough if a house is delisted and relisted with another agent.

[emicen]

V6Alfisti said:

emicen said:

I can’t figure out how to get Rightmove to show me the previous listing prices, it just tells me on the app there’s been a reduction. Can anyone tell me what this was reduced from:

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

Listed on 13/08 at £150k, so a 5k drop.

Thanks, for some reason I was sure it was previously £160k.

Either way, they need to lay off the solvents before setting prices.

[Dindoit]

anonymous said:

[redacted]

I got nosey and looked up the original planning application. He’s Indian.

Got nosier still and looked him up. He’s currently employed as a Building Control Inspector for Bracknell Forest Council. Bit sus?

muffinmenace said:

number2 said:

How do you get the price change history?

https://chrome.google.com/webstore/detail/property... - Chrome desktop only unfortunately. Tracks house price changes when someone with the extension looks at it, but it's not clever enough if a house is delisted and relisted with another agent.

Thanks for that. I’ll install it when I’m back but can you do me a favour and see what it says for this link? It’s the original listing from Nov 2017

https://www.rightmove.co.uk/property-for-sale/prop...

[Tango13]

I've looked back at some of the properties I initially looked at 6-9 months ago and they have had around a 5-8% trim and still not sold.

Bloke I work with is trying to offload his late mothers place and he's probably going to take a 15% hit on asking to sell.

I reckon I overpaid a bit for my current place in Lincolnshire but I don't care for two reasons, firstly it was financed by the idiot that bought my flat in Hertfordshire for about two and a half times what it was worth and secondly I'm planning on being carried out of here feet first in a wooden box about 50 years from now

[Thankyou4calling]

Why did someone pay two and a half timed what your flat was worth?

Surely it was priced in line with the local market?

[soupdragon1]

Thankyou4calling said:

Why did someone pay two and a half timed what your flat was worth?

Surely it was priced in line with the local market?

That's what i was thinking. Some idiot pay a silly amount. Another idiot (seller) put it up for sale at a silly amount and 2 idiots collided somehow!? That's how I read it
I'm guessing though, that it was actually market price but now it's not so good a price.

[muffinmenace]

Dindoit said:

Thanks for that. I’ll install it when I’m back but can you do me a favour and see what it says for this link? It’s the original listing from Nov 2017

https://www.rightmove.co.uk/property-for-sale/prop...

[Earthdweller]

soupdragon1 said:

Thankyou4calling said:

Why did someone pay two and a half timed what your flat was worth?

Surely it was priced in line with the local market?

That's what i was thinking. Some idiot pay a silly amount. Another idiot (seller) put it up for sale at a silly amount and 2 idiots collided somehow!? That's how I read it
I'm guessing though, that it was actually market price but now it's not so good a price.

In the early 90’s we bought a small 2 bed terrace on the edge of London ... for £60k

Sold it in 2004 for £250k .. I stood in it and couldn’t believe that someone would pay that for it .. but they did

According to Zoopla it sold again recently for £400k ... mental to me

I now live many miles away in a fabulous house on 3/4 acre in beautiful countryside which I paid peanuts for in comparison

That little and I mean tiny house set me up very nicely though

[Tango13]

soupdragon1 said:

Thankyou4calling said:

Why did someone pay two and a half timed what your flat was worth?

Surely it was priced in line with the local market?

That's what i was thinking. Some idiot pay a silly amount. Another idiot (seller) put it up for sale at a silly amount and 2 idiots collided somehow!? That's how I read it
I'm guessing though, that it was actually market price but now it's not so good a price.

It was up at market price but I sold it at just after the market peaked for flats, I think the buyer is already in negative equity on it tbh as it needed a new kitchen & bathroom and a lot of the flats that were up at the same time are now reduced in price, up for rent or off the market as nobody's buying.

I couldn't see the place was worth anywhere near what it sold for tbh.

[FocusRS3]

Another two properties cane up for sale in my old road just this weekend .

Seriously relieved I got out phew !

[GT03ROB]

anonymous said:

[redacted]

3 million there is cuckoo land, half the price could get you this on the same road

https://www.rightmove.co.uk/property-for-sale/prop...

stuff always sits down there for a long time.

[okgo]

Who decorates a modern house with tat you'd see on Downton? Awful. Nice view though.

[NickCQ]

What do we think the right price for this is? Looks like a probate sale so maybe open to doing a deal quickly.
https://www.rightmove.co.uk/property-for-sale/prop...

Needs (?)£100k spending, more if you have to re-build the extension on the back.

[Zonergem]

Should be plenty of comparables for a property like that. I hardly imagine Winkworths have looked it at with brows furrowed whilst sucking on their pencils and come up with £900k by putting on the office blindfold and sticking a pin in a sheet of random numbers...

[FocusRS3]

This taken from BBC News page today-

Chancellors always like to have something of a surprise up their sleeve for Budget day and many people I have spoken to believe that this year it will be on housing.

Mr Hammond is keen to show that the government is doing something for "generation rent" - often younger people who cannot afford to clamber on the housing ladder.

I expect that Sir Oliver Letwin's final report on the substantial disconnect between the amount of land granted planning permission and the number of actual houses built to be published alongside the Budget.

The former Tory government minister is likely to recommend speeding up the "build out permissions" process which could help the government hit the target of constructing 300,000 new houses a year.

[NickCQ]

Zonergem said:

Should be plenty of comparables for a property like that. I hardly imagine Winkworths have looked it at with brows furrowed whilst sucking on their pencils and come up with £900k by putting on the office blindfold and sticking a pin in a sheet of random numbers...

I think it’s a very optimistic number, few years ago yes but today wondering what the realistic figure is.

[robbieduncan]

FocusRS3 said:

Another two properties cane up for sale in my old road just this weekend .

Seriously relieved I got out phew !

It’s a good feeling. In our case we know we were lucky to get out. And lucky with the timing: this was the time for us to move whether it was the time to sell or not

[loafer123]

NickCQ said:

Zonergem said:

Should be plenty of comparables for a property like that. I hardly imagine Winkworths have looked it at with brows furrowed whilst sucking on their pencils and come up with £900k by putting on the office blindfold and sticking a pin in a sheet of random numbers...

I think it’s a very optimistic number, few years ago yes but today wondering what the realistic figure is.

In 2007, which was a pretty peak market at the time, it was worth mid-£600's...

As for Winkworths, they haven't got a clue where the market is going to bottom out, any more than the rest of us.

[FocusRS3]

robbieduncan said:

It’s a good feeling. In our case we know we were lucky to get out. And lucky with the timing: this was the time for us to move whether it was the time to sell or not

Absolutely spot on.

We are buying again but downsizing so very much relieved. I see others desperate to do the same thing.

Good job !