Everyone says house prices are dropping like a stone but are they ??

nudda

I just cant see it. I'm looking at rightmove, nethouseprices, property snake ... and cannot see prices falling like a stone! Can someone please give me evidence of this happening ?

Could it be its because of the area I am in (Berkshre) but then I thought all properties everywhere were being affected (minus central London ?).

Thanks

p.s: Some really interesting and clever threads on here so was hesitant to post my question but its really been baffling me.

Munk3h

Are properties still selling at their current price? If not the prices will need to be dropped for them to start selling. Looking at price alone is a little misleading as some people are still reluctant to drop their price even in the knowledge that the property won't sell at its current price.

Toto

My area is at a standstill. Prices aren't dropping on rightmove (for the decent houses) but they aren't selling either. I've done a little research on a few and the problem seems to be that the last purchase price isn't far off the asking price so the sellers wont drop. Of course that means that they won't sell either.

Even the houses which have dropped are still far too overpriced to make me want to go and have a look. So, we'll carry on being crammed into this house for a while yet.

mbga9pgf

http://www.rightmove.co.uk/property-for-sale/property-21005093.html
90 K off overnight

http://www.rightmove.co.uk/property-for-sale/property-18115111.html

http://www.rightmove.co.uk/property-for-sale/property-10818072.html
55K down

Seen enough? I take it the OP is scottish then?

nudda

Thansk folks

mbga9pgf: If you read my whole post above, youll see im in bershire so the properties youve given as examples are not really relevant.

BettiePage

nudda wrote: »

I just cant see it. I'm looking at rightmove, nethouseprices, property snake ... and cannot see prices falling like a stone! Can someone please give me evidence of this happening ?

Could it be its because of the area I am in (Berkshre) but then I thought all properties everywhere were being affected (minus central London ?).

Thanks

p.s: Some really interesting and clever threads on here so was hesitant to post my question but its really been baffling me.

Try Property Bee
and you'll see them falling before your eyes.

besonders1

Most of the houses for sale seem to be valued on asking prices not selling prices. It is the same story where I live, even new houses that appear on the market are over-valued, I would have though EA's would have told the sellers by now that they won't find a buyer at the price they are marketing it at.

BettiePage

This one has dropped £80k.

This one £45k

£90k.

£350k

£525k+

£750k


Not sure where in Berkshire you are though.

Edit: Must say, I'm actually surprised at the Windsor/Ascot ones dropping by such large amounts.

blued

mbga9pgf wrote: »

I take it the OP is scottish then?

Not unless Berkshire is in Scotland!

I'm in the North of Scotland and while there are more fixed price properties around and things are taking longer to sell I havent seen drops like the 'UK average' suggests.

zaphod_beeblebrox_2

Oh they are falling, ONS is holiding back Q4 sold figures and agents are listing properties at the price they want, not the price they'll get

I spoke to an agent in Walton on Thames, Surrey who said the sellers are in denial with the true worth of their property, he said look at properties 30% above the price you want to pay and make an offer

nudda

The above posts are the reason I love MSE. You people are soo helpful - thanks so much

BettiePage - great link to PB. Im looking at properties in TW17,TW18 and TW19. Neigbouring areas also considered - just in research phase at the moment.

besonders1 - That's very interesting. Didnt know all the properties with the EA are about 30% over what they should sell for. Very interesting. Thanks

zaphod beeblebrox - again, walton on thames is anothe area im happy to consider. Also Oxhott, Esher, lelham, Hersham etc.

Just did a quick calculation. 30% ?????!! ???!! Are you guys sure - because a 400k house would then cost only 280k. Am I interpreting this correctly ?