Are house prices really going down?

dopester

mitchaa wrote: »

If they put it on for £192k it is very very unlikely that they will sell at the full £192k hence the price of £225k. Sellers should not be footing the bill for potential further drops in the housing market, that is for the buyers to deal with.

No. It is not for buyers to deal with. That is why I'm not buying now mitchaa. I want sellers to swallow the reductions in what they once assumed was "permanent values", and not bank their easy HPI capital gains of the hyper-boom at my cost. Has to be so in the new world where financial reality has smashed through and nearly killed the banks.

They might not have any interest at £225K, with potential buyers reluctant to play the tiresome game where they have to put lower offers in to the owners to get to a more realistic value. Whereas the seller who undercuts to a more sensible £192K gets more attention from the market and maybe sells sooner and nearer their price.

6 months later your guy reduces to 192K, and would have to be lower offers again to come down to just under £175K so no stamp duty. Tricky I suppose.

davsidipp

dopester wrote: »

Full article continues here...

nice area sevenoaks but the house must have been overpriced to start of with.as for the lady what a fool earning good money to dwindle it away like that trying to keep up with the jones.