Just found this Property Snake. This is the biggest numerical price reduction I have so far seen.
This really does seem to show that Surrey is suffering a high end induced house price crash.


link to property details

19% in real terms, but basically £400k knocked off.

£1,599,950 (DOWN 19% from £1,995,000)
Beech Drive, Kingswood (kt20)

5 bedroom house

Last updated 08 Feb 2008.

Event Historydate event
29 Oct 2007 First day listed (price £1,995,000)
21 Jan 2008 Status changed from listed to delisted
08 Feb 2008 Price changed from £1,995,000 to £1,599,950 Status changed from delisted to listed

Wow mike that is some drop.
It is lovely round the warren and considered a premier location IIRC.

I should have posted the property snake link: Beech Drive, Kingswood


The property has been on 165 days, so nearly 6 months, according to property snake. Though not sure if it had been on longer, perhaps with a re-listing meaning that property snake did not pick up the earlier date.

I suppose the nominal discount is relative and 19% is perhaps what is need to shift the property, especially if it was for example 10% overpriced before hand. But the seller must have had a moment of serious honesty with themselves to decided to drop the price by £400k.

I wonder if the price drops in Kingswood be to do with this?

BBC brochure selling Kingswood site for conversion and possible new development .

This is obviously of concern and interest to the local community and I guess the threat of flats and extra large houses being built might well depress prices a bit. So perhaps a mix of local circumstance and HPC coming to play. I guess Gordo's housing targets are hitting all areas.

I had a walk around there a couple of weeks back (I work not far away) and noticed on my route that there is quite a bit of development going on already.

I think selling the BBC site is good for the tax payer as it is prime land, but I would hope that it wasn't flats and affordable housing, as that is not what the area is like.

Still I am never going to live there, so who cares.

Hmmm - typo maybe?

£1,599,950
£1,995,000

Maybe not, but it does happen!

I am pretty certain it is not a typo. It had been on at the higher price for sometime and actually in a nice area where many houses have changed hands for £2m or even £3m. So this is a real fall.

I just think there are no buyers left. Even if the city boys got their bonuses this year (ie before the crunch hit profits) a lot know they won't next year and with most investment banks forecasting a 20% fall, it would seem wise for them to get their money out. Couple this with the fact that many City people are not from the UK, and they will have already lost 12% on falling Sterling.