Rightmove prices

chrisandanne

TDS wrote: »

Hi all,


Anyone else finding this slow down in the slowdown?

..

Although here I am only seeing slow reductions of property already on the market, the new instructions are coming onto the market cheaper...making the 'old' prices look stupid....there is no rhyme or reason to it at the moment.

Example : 4 bed detached reduced to £160k from £190k

3 bed ex council semi £140k not reduced but changed to 'offers'

4 bed detached (new instruction) £159,950

It's chaos really, there are two markets out there now...well three if you count...new instructions....reduced.....unrealistic price and won't come down. This is West Yorks. A x

p.s. Not much at all is selling....at any price.

jamescredmond

have to say: all quiet in my area.

next door dropped by £5k last week, to £145k (2 bed semi). the seller needs to have a quiet word with himself. on the market 6 weeks and no interest.

across the road, vacant 3 bed in need of mod. changed hands for £100k. (endangered species fast buck builder, who intends to knock it out in under 3 months).

little or no movement elsewhere.

is this the eerie, surreal silence before the drums start beating?

kunekune

Quiet in another corner of W Yorks. There are some houses SSTC, but they are the same houses that previously SSTC and then collapsed: it looks like some houses attract the buyers, but the buyers then pull out, and then they attract more buyers. Others just stay put. I think a lot of SSTC might be a bad sign, not a good sign - it's only good if they vanish off RM because the sale completed.

Looking at 3 bed semis in good areas, prices have dropped a bit - the houses in the low 200s are maybe 10% down on last year? But quite a few of the houses that have been on the market for 4-5 months have dropped only £10K or not at all (the one we tried to buy has not dropped a penny). As others have said, there are realists and optimists in this market.

baby_boomer

TDS wrote: »

Anyone else finding this slow down in the slowdown?

I wouldn't get too worried. You only want to buy after the landslide has stopped.

House price falls aren't like the stocks & shares where, if you blink, you can miss the bottom of a market downturn. House prices will bump along the bottom for a couple of years giving you plenty of time to buy at your leisure, and from a strong position .

TDS_2

Good to hear what the situation is in other areas. Going purely on what I'm seeing, I'd expect a much smaller reduction in Nationwide and Halifax indices this month - though the small numbers involved are going to up the volatility.

clobber_2

Same here in sunny Lestuh.
Most have dropped, but only by 5% or less. A few have dropped by more than that, but as far as I can tell they are ones which need a lot of work. Nothing is moving, apart from the odd one going under offer/SSTC and then coming back on the market again.

Am entertaining myself with the extent people are prepared to go multi-agent rather than drop the price. One is currently on with SIX agents. How much would that cost them in agency fees if it ever sells (it won't)?

m00m00

very very quiet in all the areas I've been monitoring.

bo_drinker

Quiet around here, we will pull ours off the mkt in a month if no joy. Def 2 or 3 markets out there, we have reduced to the bare bone now to move not because we need to and we have cash difference to move but chains falling apart in all areas. People looking who have not sold or put theirs on yet. Thats annoying in todays market

dhassen

like one of the other posters said, in the area I'm looking at.... there have only been slight (5% say) drops in asking prices over the past months, and this includes houses that I know have been for sale since October 07.......
But new to market prices seem quite a bit lower (than they where around Oct 07 etc), maybe estate agents won't put them on for the daft prices sellers want them to, and those with their houses on the market for months and months must either be nieve to the crash or just not that bothered about selling.

ginvzt

I think the houses that come on the market now are because the owner need to move, so they will price them more realisticly for a 'quicker' sale. The houses that have been on the market for months are by those, who would like to move, but actually, can stay where they are. These people still think that it is not worth selling the hosue for less that they would have got last year, so until it settles i ntheir mind that the house prices are going down, they won't adjust the price accordingly...