If London is in a property “bubble” then I reckon Liverpool is a property “antibubble”.
And I didn’t just make that word up – antibubbles are real!
Unlike their bouncy, floaty bubbly brothers, antibubbles are droplets of liquid surrounded by a thin film of gas (which is the opposite to a bubble which is a thin film of liquid surrounding gas).
But, the key point about an antibubble is that it is a type of bubble which can sink.
Yes, bubbles which sink!
What has this got to do with the Liverpool property market?
Well, let’s take a look at this property which is coming up for auction and which I think is a classic example of an antibubble.
I know the property looks quite pretty from the outside – something about it reminds me of a ruby coloured Everton Mint. Or maybe even a seaside stick of rock.
Unfortunately, it’s not the whole property for sale, just the top floor flat which is a one bed.
Which I guess is probably all you can expect with a guide price of £3,000.
Yes, that was £3k.
Now, back onto antibubbles.
So in 2006 this flat was bought for the princely and over inflated bubble (the proper floaty bubbly variety) price of £125k.
7 years later and the bubble has turned inside out.
Or maybe it just *popped*
Because, the floaty, bubbly bubble price has become a droopy, sinky, antibubble price…loss.
Or maybe that is what is known as a plummeting antibubble. Or maybe just a belly flop?
Hell, it doesn’t matter what you call it – the fact is the property has gone from a price paid of £125k in 2006 to a guide price of just £3k in 2013: which is a colossal drop of 98.4% in 7 years of ownership.
Which I reckon has got to be a property antibubble by anybody’s standards!