London prices way down - "Agents play sudoku as capital prices burn"

carolt

http://www.guardian.co.uk/money/2008/sep/14/houseprices.property

"This week's figures from the Royal Institution of Chartered Surveyors shows each London agent sold an average 9.4 homes in the past three months - just one every 10 days, the worst rate in the UK. A monthly index from sales website Rightmove.co.uk shows the average asking price of homes in the capital fell £21,000 in August. The worst performing borough was Wandsworth, where asking prices tumbled 7.9 per cent in four weeks.

Doing Badly

In Brooke Green, west London, estate agency Bective Leslie Marsh says three- to six-bedroom houses are 15 per cent to 20 per cent lower than they were at the peak of the market in autumn 2007. In suburbs as far apart as Walthamstow, Brixton and Wimbledon some agents report 25 per cent falls; 10 per cent to 15 per cent is now routine.

TV property expert Phil Spencer, who runs a home search company for wealthy London buyers, says: 'We've just secured a property £600,000 below asking price within six weeks of the search commencing. All buyers are being highly selective and properties that are blighted in any way are not selling, almost regardless of price.'

Kevin Ryan, of estate agency Carter Jonas in Mayfair, says: 'Apart from the top end of the market, where there is still activity, albeit reduced, everything is at a standstill.' In Chelsea, 'Buyers are all saying "Why buy now?" There isn't an easy answer,' according to Charles Puxley of Jackson Stops & Staff.

... In the words of theratandmouse.co.uk, a website dedicated to London property market news, 'Estate agents are getting really good at sudoku'.

HelpWhereIcan

carolt wrote: »

TV property expert Phil Spencer, who runs a home search company for wealthy London buyers, says: 'We've just secured a property £600,000 below asking price within six weeks of the search commencing. All buyers are being highly selective and properties that are blighted in any way are not selling, almost regardless of price.'
.

He also charges his clients 10% of any saving he negotiates off the asking price - he really will be laughing in the current market.

baby_boomer

Surely sudoku is a more worthy passtime than flogging property to gullible first time buyers?

pickledpink

baby_boomer wrote: »

Surely sudoku is a more worthy passtime than flogging property to gullible first time buyers?

Pastime.

You ain't been doing your crosswords, Babyboomer:rotfl:

baby_boomer

pickledpink wrote: »

You ain't been doing your crosswords, Babyboomer:rotfl:

As it happens I've switched to sudoku

Do you spell pedant with one d or two?

baby_boomer

pickledpink

carolt wrote: »

http://www.guardian.co.uk/money/2008/sep/14/houseprices.property

"This week's figures from the Royal Institution of Chartered Surveyors shows each London agent sold an average 9.4 homes in the past three months - just one every 10 days, the worst rate in the UK. A monthly index from sales website Rightmove.co.uk shows the average asking price of homes in the capital fell £21,000 in August. The worst performing borough was Wandsworth, where asking prices tumbled 7.9 per cent in four weeks.

Doing Badly

In Brooke Green, west London, estate agency Bective Leslie Marsh says three- to six-bedroom houses are 15 per cent to 20 per cent lower than they were at the peak of the market in autumn 2007. In suburbs as far apart as Walthamstow, Brixton and Wimbledon some agents report 25 per cent falls; 10 per cent to 15 per cent is now routine.

TV property expert Phil Spencer, who runs a home search company for wealthy London buyers, says: 'We've just secured a property £600,000 below asking price within six weeks of the search commencing. All buyers are being highly selective and properties that are blighted in any way are not selling, almost regardless of price.'

Kevin Ryan, of estate agency Carter Jonas in Mayfair, says: 'Apart from the top end of the market, where there is still activity, albeit reduced, everything is at a standstill.' In Chelsea, 'Buyers are all saying "Why buy now?" There isn't an easy answer,' according to Charles Puxley of Jackson Stops & Staff.

... In the words of theratandmouse.co.uk, a website dedicated to London property market news, 'Estate agents are getting really good at sudoku'.

So what? We all know there's a slump - and we all know it will bounce back eventually. That's why YOU are so eager to pounce! YOU want to make money just like everyone else has before you.

Only difference is you'll be too old to enjoy your gains.................if you ever manage to buy.

baby_boomer

pickledpink wrote: »

Only difference is you'll be too old to enjoy your gains.................if you ever manage to buy.

Do PM me so I can add you to my Christmas card list :rotfl:

Generali

pickledpink wrote: »

So what? We all know there's a slump - and we all know it will bounce back eventually. That's why YOU are so eager to pounce! YOU want to make money just like everyone else has before you.

Only difference is you'll be too old to enjoy your gains.................if you ever manage to buy.

Well that's 3 people on ignore now.

baby_boomer

In Brooke Green, west London, estate agency Bective Leslie Marsh says three- to six-bedroom houses are 15 per cent to 20 per cent lower than they were at the peak of the market in autumn 2007

Please believe me. They aren't hurting It's not a high turnover area.

lethal0r

pickledpink wrote: »

That's why YOU are so eager to pounce! YOU want to make money just like everyone else has before you.

why can it not just be that some people want to buy a house for a reasonable price? thats all I want, I dont care whether I make money off it.

Pobby

pickledpink wrote: »

So what? We all know there's a slump - and we all know it will bounce back eventually. That's why YOU are so eager to pounce! YOU want to make money just like everyone else has before you.

Only difference is you'll be too old to enjoy your gains.................if you ever manage to buy.

See ya Mum has let you go online again! Does she know what a nasty little s--- you are?