How far will house prices fall [volume 5]
Discussion
NickCQ said:
ooid said:
FocusRS3 said:
Possibly although no mention of the 'cottages'.
Looks a reasonable gaff although i'd feel a little claustrophobic in that garden but that's me.
I really liked that one actually...That money would get you this 2-bedroom in the "City", I must remind! Looks a reasonable gaff although i'd feel a little claustrophobic in that garden but that's me.
https://www.rightmove.co.uk/property-for-sale/prop...
ashleyman said:
I've got a mate who lives in Barbican. He loves it. Property is very nice. The only downside is some of the neighbouring properties are actually social housing. Mostly full of very nice people but there is the odd one or two who spoil it.
I've lived there too, nearly 7 years. First rented, than owned a small studio flat actually (thanks to 2008 recession), and sold it nearly double in less than 5 years. It's a great location but the whole development is quite crap to be honest. s
t heatings, crap plumbing and neighbours are actually pain in the ass. I have no idea how people ask so much money for these flats (so little lease, less than 99 years I guess?). It's nice place to hang-our probably max. 2 years, thats it.I never forget one morning, before going to work, having a shower suddenly my shower and all sinks started to bring some s
t water back due to big clog on the main sewage! I had to get a professional cleaners in the bathroom, the whole place stank for at least week and it affected nearly half of the flats in my building.Well, that's over-inflated Barbican for you guys!
ooid said:
ashleyman said:
I've got a mate who lives in Barbican. He loves it. Property is very nice. The only downside is some of the neighbouring properties are actually social housing. Mostly full of very nice people but there is the odd one or two who spoil it.
I've lived there too, nearly 7 years. First rented, than owned a small studio flat actually (thanks to 2008 recession), and sold it nearly double in less than 5 years. It's a great location but the whole development is quite crap to be honest. st heatings, crap plumbing and neighbours are actually pain in the ass. I have no idea how people ask so much money for these flats (so little lease, less than 99 years I guess?). It's nice place to hang-our probably max. 2 years, thats it.I never forget one morning, before going to work, having a shower suddenly my shower and all sinks started to bring some s
t water back due to big clog on the main sewage! I had to get a professional cleaners in the bathroom, the whole place stank for at least week and it affected nearly half of the flats in my building.Well, that's over-inflated Barbican for you guys!
I guess you can only do so much as a lot of it will be central like the boilers etc... I don’t think he could turn his radiators down individually. It was all on or all off and couldn’t change it because of the central boiler running the feeds. He made the best of it though and his place is nice. Just a few weird touches! Haha
Wouldn’t mind it myself but imagine prices are silly.
This seems astonishingly cheap unless I'm missing something.
https://www.rightmove.co.uk/commercial-property-fo...
https://www.rightmove.co.uk/house-prices/detailMat...
https://www.rightmove.co.uk/commercial-property-fo...
https://www.rightmove.co.uk/house-prices/detailMat...
Derek Chevalier said:
This seems astonishingly cheap unless I'm missing something.
https://www.rightmove.co.uk/commercial-property-fo...
https://www.rightmove.co.uk/house-prices/detailMat...
I prefer the house that’s there rather than the one they have planning permission forhttps://www.rightmove.co.uk/commercial-property-fo...
https://www.rightmove.co.uk/house-prices/detailMat...
The original one has style .. the new one looks like a tacky footballers pad
Should have exchanged on a 2 bed in Bloomsbury on Thursday. 1 owner since 1950, but when alls said and done it's a flat and once you've cleared it it just gets put back together in a modern style. Was 650.
fking wker arse vendor decided that as others in the same (massive) development are on at 900+, and one shows as SSTC (when it isn't, it's just the agent marking it like that having lost the instruction), I needed to pay another 150 or it would go back on.
It went on at 750 in Dec 2016, I made the first, and only offer...............
f
king wker arse vendor decided that as others in the same (massive) development are on at 900+, and one shows as SSTC (when it isn't, it's just the agent marking it like that having lost the instruction), I needed to pay another 150 or it would go back on.It went on at 750 in Dec 2016, I made the first, and only offer...............
Croutons said:
Should have exchanged on a 2 bed in Bloomsbury on Thursday. 1 owner since 1950, but when alls said and done it's a flat and once you've cleared it it just gets put back together in a modern style. Was 650.
fking wker arse vendor decided that as others in the same (massive) development are on at 900+, and one shows as SSTC (when it isn't, it's just the agent marking it like that having lost the instruction), I needed to pay another 150 or it would go back on.
It went on at 750 in Dec 2016, I made the first, and only offer...............
How much did he pay?f
king wker arse vendor decided that as others in the same (massive) development are on at 900+, and one shows as SSTC (when it isn't, it's just the agent marking it like that having lost the instruction), I needed to pay another 150 or it would go back on.It went on at 750 in Dec 2016, I made the first, and only offer...............
Earthdweller said:
Derek Chevalier said:
This seems astonishingly cheap unless I'm missing something.
https://www.rightmove.co.uk/commercial-property-fo...
https://www.rightmove.co.uk/house-prices/detailMat...
I prefer the house that’s there rather than the one they have planning permission forhttps://www.rightmove.co.uk/commercial-property-fo...
https://www.rightmove.co.uk/house-prices/detailMat...
The original one has style .. the new one looks like a tacky footballers pad
Naturally he can tuck right off (that’s a weird autocorrect!) I just cannot work out what tea leaves he’s reading that means he thinks the market has turned... 4 of the 5 others for sale are tenanted, so there is no cost (ish, depending obvs) for their being empty. This one is rank, it would struggle to rent at all and has been empty for some time
Croutons said:
Should have exchanged on a 2 bed in Bloomsbury on Thursday. 1 owner since 1950, but when alls said and done it's a flat and once you've cleared it it just gets put back together in a modern style. Was 650.
fking wker arse vendor decided that as others in the same (massive) development are on at 900+, and one shows as SSTC (when it isn't, it's just the agent marking it like that having lost the instruction), I needed to pay another 150 or it would go back on.
It went on at 750 in Dec 2016, I made the first, and only offer...............
wait until back on market ... and just make a time-bound offer? ... eg: $xx is on the table for 2-3 weeks only (?) f
king wker arse vendor decided that as others in the same (massive) development are on at 900+, and one shows as SSTC (when it isn't, it's just the agent marking it like that having lost the instruction), I needed to pay another 150 or it would go back on.It went on at 750 in Dec 2016, I made the first, and only offer...............
How much less per sq foot is 650 compared to good condition?
Croutons said:
Naturally he can tuck right off (that’s a weird autocorrect!) I just cannot work out what tea leaves he’s reading that means he thinks the market has turned... 4 of the 5 others for sale are tenanted, so there is no cost (ish, depending obvs) for their being empty. This one is rank, it would struggle to rent at all and has been empty for some time
He is super-confident or a total idiot. A house I've made an offer 3 months ago, just came back to the market. The owner's agents called me desperately if I still want it? I said, yes but I would offer 100k less now! The issue was, I made a full-asking offer (full-cash), but my cash was tied into my property sell. The other potential buyer with a small deposit +mortgage, he was ready to get ball rolling. Now they found out he is not financially fit for the purchase so can't buy it and they are officially back on the market (they reduced the price 50k).
Bloomsbury is quite central, so I'm sure loads of people telling the vendor how great his location is and he should just wait and ask more! My school was in the middle of Bedford sq, had great time over there 15 years ago!
I'm ready to exchange, so he's been told end of march or I'm off. Which I think is generous. I don't know if it's some ill advised fishing expedition for other buyers/ his mate down the pub said/ blah.
He hasn't said there is another offer, I'm expecting one and to be told match it, which I won't. As it won't exist.
It's good enough VFM for the location for my purposes, it's had a lease extension which saves time and £. I only know one which was cheaper which was a repo with ~60 years left. Few people there really need to sell it seems, and over 950 has been achieved on identical flats in mint condition in the good old 2016/17 days.
I know others think there's further to fall, and they may be right, but I can't wait forever when the alternative is pay for kids rent while at uni and beyond for a potentially who knows how long. This way it will be done in time for Sept, or not it seems...
He hasn't said there is another offer, I'm expecting one and to be told match it, which I won't. As it won't exist.
It's good enough VFM for the location for my purposes, it's had a lease extension which saves time and £. I only know one which was cheaper which was a repo with ~60 years left. Few people there really need to sell it seems, and over 950 has been achieved on identical flats in mint condition in the good old 2016/17 days.
I know others think there's further to fall, and they may be right, but I can't wait forever when the alternative is pay for kids rent while at uni and beyond for a potentially who knows how long. This way it will be done in time for Sept, or not it seems...
Super quiet in my neck of the woods - nothing new coming on the market and not a great deal on the market at all.
Nevertheless, we have found a property and made an offer.
We have accepted offers on both of our properties - low ones I may add, but that is our problem, and reflects our desire to exit the leasehold flat market and get moving.
The property we want to buy has been on the market on and off for almost a year. Price dropped by 6% in that time, and we have offered 6% below the new price (our second offer). The offer we have made is in no way derisory - and I believe this is accepted by the agent/vendor, however the offer is not accepted yet.
Reason being, the people we're buying from claim they haven't got enough with our offer to meet the in-principle agreed price on the property they want to buy. The agent is now attempting to broker a deal between those two parties - so we're told.
The people our vendors wish to buy from, have been marketing their property for at least 2 years. I'm not particularly sure they want to move, or more to the point will be able to move given they clearly want top dollar for their property and of course (I'm speculating) a large discount from asking on what they eventually want to buy - if they even find anywhere.
I can guarantee when the agent gets back to us there'll be a request for more money. I might be cutting off my nose to spite my face (we do like the house) but that is the last thing that we are going to do. I'm not sure I even want to be involved in this whole chain given (in my view) the high likelihood of collapse.
Nevertheless, we have found a property and made an offer.
We have accepted offers on both of our properties - low ones I may add, but that is our problem, and reflects our desire to exit the leasehold flat market and get moving.
The property we want to buy has been on the market on and off for almost a year. Price dropped by 6% in that time, and we have offered 6% below the new price (our second offer). The offer we have made is in no way derisory - and I believe this is accepted by the agent/vendor, however the offer is not accepted yet.
Reason being, the people we're buying from claim they haven't got enough with our offer to meet the in-principle agreed price on the property they want to buy. The agent is now attempting to broker a deal between those two parties - so we're told.
The people our vendors wish to buy from, have been marketing their property for at least 2 years. I'm not particularly sure they want to move, or more to the point will be able to move given they clearly want top dollar for their property and of course (I'm speculating) a large discount from asking on what they eventually want to buy - if they even find anywhere.
I can guarantee when the agent gets back to us there'll be a request for more money. I might be cutting off my nose to spite my face (we do like the house) but that is the last thing that we are going to do. I'm not sure I even want to be involved in this whole chain given (in my view) the high likelihood of collapse.
number2 said:
Super quiet in my neck of the woods - nothing new coming on the market and not a great deal on the market at all.
Nevertheless, we have found a property and made an offer.
We have accepted offers on both of our properties - low ones I may add, but that is our problem, and reflects our desire to exit the leasehold flat market and get moving.
The property we want to buy has been on the market on and off for almost a year. Price dropped by 6% in that time, and we have offered 6% below the new price (our second offer). The offer we have made is in no way derisory - and I believe this is accepted by the agent/vendor, however the offer is not accepted yet.
Reason being, the people we're buying from claim they haven't got enough with our offer to meet the in-principle agreed price on the property they want to buy. The agent is now attempting to broker a deal between those two parties - so we're told.
The people our vendors wish to buy from, have been marketing their property for at least 2 years. I'm not particularly sure they want to move, or more to the point will be able to move given they clearly want top dollar for their property and of course (I'm speculating) a large discount from asking on what they eventually want to buy - if they even find anywhere.
I can guarantee when the agent gets back to us there'll be a request for more money. I might be cutting off my nose to spite my face (we do like the house) but that is the last thing that we are going to do. I'm not sure I even want to be involved in this whole chain given (in my view) the high likelihood of collapse.
Some strong views to follow, but hopefully helpful. (Obviously it will depend on how the property has been priced/where it is e.t.c)Nevertheless, we have found a property and made an offer.
We have accepted offers on both of our properties - low ones I may add, but that is our problem, and reflects our desire to exit the leasehold flat market and get moving.
The property we want to buy has been on the market on and off for almost a year. Price dropped by 6% in that time, and we have offered 6% below the new price (our second offer). The offer we have made is in no way derisory - and I believe this is accepted by the agent/vendor, however the offer is not accepted yet.
Reason being, the people we're buying from claim they haven't got enough with our offer to meet the in-principle agreed price on the property they want to buy. The agent is now attempting to broker a deal between those two parties - so we're told.
The people our vendors wish to buy from, have been marketing their property for at least 2 years. I'm not particularly sure they want to move, or more to the point will be able to move given they clearly want top dollar for their property and of course (I'm speculating) a large discount from asking on what they eventually want to buy - if they even find anywhere.
I can guarantee when the agent gets back to us there'll be a request for more money. I might be cutting off my nose to spite my face (we do like the house) but that is the last thing that we are going to do. I'm not sure I even want to be involved in this whole chain given (in my view) the high likelihood of collapse.
IMO offering just 6% below asking, is verging on generous. The other 6% price drop is irrelevant and simply means it was overpriced. In some parts of London, prices have fallen 30% and still taking offers at 10-15% below that. Painful but true.
Also the point about the vendor not getting enough money to make their next purchase, frankly not your concern. It's like someone asking £5k for a £3k car because they only have £4k in the bank and need to buy a £9k car....not your problem.
Hi All,
First time buyer looking for some advice, currently considering using help to buy on one of the below properties, before reading this thread i was hoping to take advantage of some brexit jitters but it looks like there is the potential of a genuine slowdown, would people recommend holding off? i am in no rush but renting ATM and hoping to build equity at some point although i don't want to end up in negative equity!
https://www.rightmove.co.uk/new-homes-for-sale/pro...
https://www.rightmove.co.uk/new-homes-for-sale/pro...
The area is wandsworth and I would have to use HTB for the purchase
First time buyer looking for some advice, currently considering using help to buy on one of the below properties, before reading this thread i was hoping to take advantage of some brexit jitters but it looks like there is the potential of a genuine slowdown, would people recommend holding off? i am in no rush but renting ATM and hoping to build equity at some point although i don't want to end up in negative equity!
https://www.rightmove.co.uk/new-homes-for-sale/pro...
https://www.rightmove.co.uk/new-homes-for-sale/pro...
The area is wandsworth and I would have to use HTB for the purchase
V6Alfisti said:
Also the point about the vendor not getting enough money to make their next purchase, frankly not your concern. It's like someone asking £5k for a £3k car because they only have £4k in the bank and need to buy a £9k car....not your problem.
It somewhat is if you really want to buy the particular house / car the seller has for sale.Gassing Station | News, Politics & Economics | Top of Page | What's New | My Stuff