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Decent drops

Wight Flight

By Wight Flight
in Property Prices & Economy

Where will avg mortgage rates (NOT the base rate) peak in the next 5 years?  

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A_P

A_P

Posted
Posted

still only another £100k to go to get back to 2020. given that they likely paid <£50k for it I suspect they won't be too mad...just yet.

personally I would rather see some proper drops from recent buys if you're going to post them.

@JoeDavola are you keeping tabs here in NI? any drops yet?

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spunko

spunko

Posted
Posted
11 minutes ago, Wight Flight said:

Just noticed the above is also available on the over 60's never own scheme.

https://www.rightmove.co.uk/properties/127550555?#/?channel=RES_BUY

But the drop there is only 5%. It hadn't occurred to me that higher interest rates absolutely bugger this method of buying.

How do these work, you pay a smaller amount as you only own it until your death and then the company takes it back and re-sells it to the next one?

Never understood why these people don't just rent.

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Wight Flight

Wight Flight

Posted
  • Author
Posted
6 minutes ago, spunko said:

How do these work, you pay a smaller amount as you only own it until your death and then the company takes it back and re-sells it to the next one?

Never understood why these people don't just rent.

I think that is the idea.

Pretty much an equity release scheme, but in reverse.

Or if you have no dependants you could get a bigger house for your cash as you don't need to worry about leaving anything.

And I think you should know why these people don't rent! Who fancies moving every year at 80?

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spunko

spunko

Posted
Posted
7 minutes ago, Wight Flight said:

I think that is the idea.

Pretty much an equity release scheme, but in reverse.

Or if you have no dependants you could get a bigger house for your cash as you don't need to worry about leaving anything.

And I think you should know why these people don't rent! Who fancies moving every year at 80?

Even if I had no dependents I'd rather give it to the dogs home than these scammers :S

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sancho panza

sancho panza

Posted
Posted
49 minutes ago, Boon said:

Those kind of drops come on every day in London ie:
https://www.rightmove.co.uk/properties/116674748#/?channel=RES_BUY

In these kind of circumstances I think should be other points for other factors

- Long time (ie 1 year+) on market. might indicate hard to sell for other reasons
- Asking price below purchase price, might indicate forced seller 

good effort
 
£550,000
Price Change History
06/10/2022 Price changed from £675,000 to £550,000
26/04/2022 Price changed from £720,000 to £675,000
17/01/2022 Price changed from £795,000 to £720,000
22/11/2021 Initial entry found: £795,000
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sancho panza

sancho panza

Posted
Posted

LE5 Liecester-you have to be from here to understand how overpriced that is. even at £425k lol

This hosue is very close to one of only two places outside Afghanistan theyve found a thermally heated suicide bomber belt according to a ussually relaible source

PHOTOGRAPHY

Price Change History
27/09/2022 Price changed from £450,000 to £425,000
03/08/2022 Price changed from £475,000 to £450,000
21/06/2022 Initial entry found: £475,000
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spunko

spunko

Posted
Posted

As an aside does anyone remember the old Property Snake website? It used to be great at finding some of these mega drops. I seem to remember the creator was on HPC, as was the creator of houseprices.io .

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HousePriceMania

HousePriceMania

Posted
Posted
1 hour ago, Wight Flight said:

Give us your best.

I like this one - £480k to £380k in just 4 months.

Ouch.

https://www.rightmove.co.uk/properties/85419147#/?channel=RES_BUY


Here's a list of 20%+ drops from rightmove

https://twitter.com/hashtag/ukpl_BIG_drop?src=hashtag_click

image.png.226a000de407d978e344a74a30b7c3f7.png

 

Someone on TOS posts all the big drops and is saying the number of 20%+ is growing and it's no longer just the dross

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Green Devil

Green Devil

Posted
Posted
43 minutes ago, sancho panza said:

LE5 Liecester-you have to be from here to understand how overpriced that is. even at £425k lol

This hosue is very close to one of only two places outside Afghanistan theyve found a thermally heated suicide bomber belt according to a ussually relaible source

PHOTOGRAPHY

Price Change History
27/09/2022 Price changed from £450,000 to £425,000
03/08/2022 Price changed from £475,000 to £450,000
21/06/2022 Initial entry found: £475,000

425 for a end terrace in leicester, the world really has gone truly bonkers! 

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Frank Hovis

Frank Hovis

Posted
Posted
3 minutes ago, spunko said:

As an aside does anyone remember the old Property Snake website? It used to be great at finding some of these mega drops. I seem to remember the creator was on HPC, as was the creator of houseprices.io .

 

Property Snake was what I initially used to find a house when I started to look for one.

It was excellent and IMHO a missed marketing opportunity for savvy estate agents - list high then drop and get into the top ten.

I particularly remember one house in south coast Cornish village with a gift shop at the front of the ground floor let and providing rent which had been unsold for four years; probably fourteen years now.

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spunko

spunko

Posted
Posted
10 minutes ago, Frank Hovis said:

 

Property Snake was what I initially used to find a house when I started to look for one.

It was excellent and IMHO a missed marketing opportunity for savvy estate agents - list high then drop and get into the top ten.

I particularly remember one house in south coast Cornish village with a gift shop at the front of the ground floor let and providing rent which had been unsold for four years; probably fourteen years now.

I am giving thought to bringing it back, but I'm not sure what used to power it, if there was an API or if they were just scraping Rightmove etc. Will look into it.

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