Friday, 31 May 2013

Clareville Grove - CGI

The price of CGI interiors is clearly not holding up.  This house in Clareville Grove isn't quite what it seems and has had its price slashed by £1m.

Thursday, 30 May 2013

King Henrys Road

Primrose Hill has been one of the London areas which has seen huge price rises in the last year.  Any boom however has its limits...

Wednesday, 29 May 2013

Tuesday, 28 May 2013

Monday, 27 May 2013

Eaton square (part 2)

In a previous post I spotted this property in Eaton Square proving that even very prime areas can be sticky if you aim too high with the price.  Since the initial post a further £250k has be cut from the price but still it sticks on the market.

The Prime London boom is proving elusive for many.

Torkington Road, Wilmslow

Time for a follow up on a previous post detailing a tale of two agents.  Gascoigne Halman and Jackson Stops and Staff have chosen two very different approaches with the photography.  Both have now cut a further £300k from the price.

Sunday, 26 May 2013

Camberwell Grove

If you saw the BBC Secret History Of Our Streets - Camberwell Grove episode you might remember one of the members of the 60s era Camberwell Grove Society remarking that the expensive modern houses could only be bought by 'people who get bonuses' thanks to the high prices.  Well, it seems the owners of the original terraces have no lesser aspirations for finding buyers.  In this case the City buyer is still proving elusive.

Camberwell Grove

Saturday, 25 May 2013

Lansdowne Road

In January this was billed as a rare opportunity to acquire a Notting Hill maisonette.  Four months later and £750,000 cheaper, that 'rare' opportunity is still there for the taking.

Lansdowne Road

Friday, 24 May 2013

Stradella Road

We'll find out soon whether the stamp duty threshold was the issue with this house in Herne Hill.

Thursday, 23 May 2013

North Row

Over ten percent off this refurbished apartment near Marble Arch.  Don't trip on the sunken bath...

Sunken Bath

Putney Heath (Chicken Coup Included)

£2.75m down in Putney Heath.  The chicken coup obviously doesn't add as much value as hoped.

Heathview Gardens

Wednesday, 22 May 2013

Sloane Street - Birkin Bag Shrine

One million pounds cut from the price of this house in Sloane Street.  Possibly the only house in the world that contains a dedicated shrine to the Birkin bag.

Birkin Bag Shrine

Tuesday, 21 May 2013

Compton Avenue - £1.6m drop

£1.6m discount in N6 after only a few weeks on the market.  Lack of interest can have that effect...

The Campbell's soup can poster must be worth a hefty premium?

Acre House

Another portfolio of flats in trouble.  This time it looks like a property developer rather than a landlord who is having to reset their expectations.

Did you think you'd see reductions of over 30% in Covent Garden?

Annes Court

It seems that this vendor has got a taste for cuts.  After testing the water with a £100k drop in April, now a further £300k has been slashed from the price.

This is the terrace you could enjoy.  Unfortunately the colour of the sky is not guaranteed.

Monday, 20 May 2013

Albert Hall Mansions

A gory price drop in Kensington.  One million down on this lateral penthouse in SW7.  Perhaps they'd even throw in the fishy artwork in the kitchen...

Sunday, 19 May 2013

Embankment Gardens

Another new entry into the SW3 fallers chart.

Are garden flats harder to sell in this market?  They're certainly less suitable for foreign buyers who hardly set foot in London.

And that garden in all its glory:

Saturday, 18 May 2013

Spencer Road - Basement Courtyard

The basement courtyard in this property is reminiscent of the kind of modern architecture you would normally find in Athens.

The asking price however looks to be too much for Battersea to bear at it's seen a £450,000 reduction.

The Yoo (or should that be Yo-Yo) Building

This attempt to hike the price in St Johns Wood heading into spring seems to have faltered when met with the reality of the market.  Down cut to below the original asking price.

More examples of 'the spring flounce':

Bank Holiday Increase
Yo-Yo Pricing

Friday, 17 May 2013

Courtenay Avenue, Kenwood

Three million down on this mansion in N6.  They're holding out for an oligarch but there's no-one in sight.

BTL Portfolio: Closing Down - Everything Must Go

A portfolio of 25 BTL properties for sale in North London.  The landlord seems to be under pressure given the dramatic asking price cut of nearly 50%.

Using their income figure of £289k gives a yield of 5.8%.

Thursday, 16 May 2013

Cavendish Avenue

A hefty price cut on this house in St Johns Wood but they can't quite bring themselves to contemplate accepting less than £6m.

Hyde Park Street - Not So Fixed Price

Residential land price crash

Savills Research has come up with some figures on residential land prices which give a truly shocking picture of the real state of the UK housing market.

Apart from London, all urban areas in the UK show land prices collapsing by at least 38% with an average of over 50% declines.  In the North, the falls are over 70%.

The story of the housing market over the last few years has been of asking prices remaining close to peak values while the market struggles with very thin volumes.  Comparing data for house prices with land prices shows why volumes are so low.  Houses are now changing hands at prices way above the true clearing price that a functioning market could sustain.

At some point, land values and house prices will need to come back into alignment.  The government would very much like this to be caused by a recovery in land prices, but these figures show just how improbable this is.


South East
South West
West Midlands
East of England
East Midlands


The Vale, SW3

Over one million off the price of this house just of the Kings Road.