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Debate House Prices
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Housing market 'far worse' than figures suggest
mystic_trev
Posts: 5,434 Forumite
House prices across the UK have already fallen far further than official data and market indicators suggest, Rightmove, the online estate agent warned yesterday, as it revealed that up to 300 estate agents were quitting its service every month.
While the latest figures from leading mortgage lenders such as Halifax suggest that prices are down by 15 per cent from their peak, Rightmove said the falls were up to two-thirds higher.
Miles Shipside, the commercial director of Rightmove, said: "Estate agents tell us that the actual prices that are being achieved [initially between buyers and sellers] for property are down by about 20 to 25 per cent beneath peak asking prices. That has not come out in the national indices."
http://www.independent.co.uk/news/business/news/housing-market-far-worse-than-figures-suggest-1018081.html
From Miles Shipside - who'd have thought it! :rolleyes:
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Comments
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We are now seeing that estate agents really are as thick as pig shlt!
The naea should get all its members to tell all its clients to drop by 20%, the credit crunch is exacerbated by the fact so much credit is neded to buy a house, the banks wont lend so nothing is selling.
If the loan amounts were smaller there would be more aprovals etc
But know they constantly try to squeeze a few more quid it of people like on a thread on here about a fantom buyer bidding on that 100 grand house.Hi, we’ve had to remove your signature. The one where you showed us Dithering Dad is a complete liar. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE Forum Team0
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