Rightmove prices

TDS_2

Hi all,

Just a question regarding house prices (on Rightmove). I've been seeing many drops in the past few months - welcome news as far as I'm concerned. However, in the last couple of weeks there have been an increasing number of STC, and a reducing number of price drops. Add to this the slight reduction in mortgage rates, and I'm wondering whether we're moving towards the lower levels of house price depreciation (0.5% / month) that were experienced last crash.

Anyone else finding this slow down in the slowdown?

No doubt all the bulls will rush on here stating that it was only a blip anyway, but I'm hoping for a more reasoned response...

ginvzt

Lets wait until next week and see what Nationwide HPI shows. Anyone wishes to guess?

LittleMissAspie

Nationwide could show anything with the low number of transactions.

The houses I'm tracking on Property Bee seem to be at a complete standstill. One or two price drops, one or two new instructions, it's really boring lol. I was cheered this week though when a house round the corner had its Sold sign changed back to For Sale. Has been reduced today from 335k to 310k.

ginvzt

I know, it is getting boring to check rightmove... I am doing this as well at the moment as we would like to get a hosue (sold ours due to relocation), but nothing is moving!!!! We put an offers on 2 houses (lost both) and it seems tht is all that sold in the past month!!!!
Oh, and one house reduced price today from £395k to £360k. Well, that is still over my budget - if it reduced 50% I would have been banging at the door now!!!

dhassen

I noticed lots of status changed to STC last week. Strange thing is this week there are lots of status changed from STC to available......

I've noticed (since the crash) that one of the big estate agents near me (has lots of props for sale in desirable area) has stopped putting houses on right-move. I wondered if it was to stop people tracking using property bee! Maybe I'm a conspiracy theorist......

babylonfree

I'm tending to see quite big drops in properties with no chain (ie someone passed away) and houses that were ex council and have been bought under right to buy.

There are loads of properties that aren't changing, I'd imagine these are people that either don't have to move so they are sticking to their guns. Or people who will go into negative equity if they did drop the price.

Some lovely new build flats have dropped big time (not a surprise). They were on for £164,000 in April (two bedroom). They are now £124,000!!!!

BTLNEWbie_3

ginvzt wrote: »

We put an offers on 2 houses (lost both) and it seems tht is all that sold in the past month!!!!

It is a bit worrying that you are in the most excellant position but you still can not buy.
Dont these idiots selling their houses know that they need to drop them loads so that we can get the market moving again.

ginvzt

BTLNEWbie wrote: »

It is a bit worrying that you are in the most excellant position but you still can not buy.
Dont these idiots selling their houses know that they need to drop them loads so that we can get the market moving again.

WEll, we are a bit torn. We would love to have our own house again, but the change in hosue prices is worrying. We could continue renting, but I don't want to stay in this flat we have now. So, how much would a larger property cost us in rent (we haven't seen may tht we would be intrested in) and how much house prices would fall? It is working out the balance that is imprtant at this point!!!!

BTLNEWbie_3

ginvzt wrote: »

WEll, we are a bit torn. We would love to have our own house again, but the change in hosue prices is worrying. We could continue renting, but I don't want to stay in this flat we have now. So, how much would a larger property cost us in rent (we haven't seen may tht we would be intrested in) and how much house prices would fall? It is working out the balance that is imprtant at this point!!!!

Just remember that it is more important to get a balance that means you have a great standard of living and not paying over the odds for you home.

Speckled_Egg

The market is pretty flat here (South Bucks). Not much is selling. A few houses have been reduced - one 3 bed semi by £10k yesterday and another by £35k today(!). I'd definitely say the market is still falling.

:j

moanymoany

I've been following an area on rightmove. I've also seen some STC coming up.

Last week I phoned one of the estate agents about a house. She told me that nothing is moving. Monday I spoke to the ea we rented our house through. He said the letting part is doing well but nothing is selling.