House prises rising in some places !?!

housesitter

I've been using property bee to look at houses in my area (around Warrington) but I'll wager this is going on elsewhere.
I'm starting to see quite a lot of houses which are actualy having price rises and a fair degree of makeover in their descriptions.

My suspicion is that the agents are fluffing the prices to allow for people to come in and discount. This is tending to happen on properties which have been up for 6months or longer.

Got to wonder if this is a tatic which is likely to work, or just encourage buyers to stand their ground and wait it out.
I'm sure that not every agent would try this on.

Thrugelmir

Without knowing your local market its difficult to comment.

In my local neighbourhood only a few houses have changed hands in the past 12 months. Those that are on the market are in the main builder modernised and are still advertised at high prices ( also being offered as rentals), or have been on the market for at least 6 months.

kwikbreaks

What they get offered at is irrelevant - it's what they sell for that matters and http://www.nethouseprices.com/ gives you that info. long with the volumes selling which is probably even more telling.

carolt

No, not happening round my way - the reverse.

As a tactic, in this market I'd expect it to backfire - won't even get the viewers let alone the offers.

besonders1

You might be looking at asking prices not sold prices. Sellers could ask any price they but it does not say that will get it.

Cannon_Fodder

As there are reported 40% drops in flats and new builds around the country, but only -19% showing on the Haliwide indices, then there are bound to be *some* properties achieving +ve sales, to make the average fit...

Even more so with Land Registry, which is more out of date and excludes the new builds...

Each month sees a shift in where the change in sentiment is being felt, most.

Be patient.

housesitter

Fully aware of the difference between asking and selling prices.

In this area there are plenty of massive discounts, even within a mile or so of the places which are being put up.
It's a bit of a crazy time.
Perhaps they are trying to prolong the wait for everything to drop.

Certainly I've seen some massive drops, but plenty of people just keeping to mid 2008 prices without changes. That's the norm.
Far more going down than up, however you tend to notice such anomalies.

I'm not interested in [STRIKE]shoeboxes[/STRIKE] flats.
Not jumping in yet either, unelss I can negotiate big discounts.
Close to going to see a few which have been on for a while and putting in an almost !!!! taking offer and letting them sit on it.
As others have said, it depends how desperate they become.

However, the ones which have had prices rises I'll avoid.
God bless Property Bee

whathavewedone

In my area it actually looks as though the asking prices on houses are higher than they were in 2007 and I wonder if this is a ploy too. None of them seem to be selling at the moment though. There were some that went through last year for higher than summer 2007 prices but that was early in 2008 and the price was probably agreed in summer/autumn 07 whereas completions in August 2007 were agreed a few months earlier.

My mother had her house on the market and when they told her in September it was worth 275k I said no way. She got very upset with me. It's a 2 up 2 down Georgian cottage. Very nicely decorated, needs no work and in a nice village just outside Tunbridge Wells. But it's small, no good for a family and it's on a main road. She has had not one viewing in 3 months. Not one. When she said she was going to take it off the market they suggested she should reduce it to £240k which is still way too high imo. The last time she had it valued was in 2006 and then the most optimistic valuation was £235k.

She needs to move to a flat as she's getting on. I would have thought they'd have been better of convincing her to reduce the price to £195k and concentrate on getting her a flat in Tunbridge Wells for a steal (there's enough of them!) It would have been a hard job admittedly as she would have taken it personally irrespective of the economic situation. Mums eh.

wywywywy

I am also from Warrington, and have been trying to buy a property in the north east bit for over 2 years!

And yes, I agree the prices don't seem to be coming down, except on certain properties where the asking prices were way above neighbours' to start with (or if they are new builds). I think it is down to the fact that there doesn't seem to be many desperate sellers around here yet.

After talking to the EAs, it looks like there really aren't many transactions completed over the last few months though, so may be the prices will come down soon.

[Deleted User]

In my area houses are still going on the market for ridiculous prices. Of course, they are not selling.

There is however one house in my street that sold 3 months ago for £80K more than I paid 3 years ago :eek:. There are still fools around

Thrugelmir

Log onto UpMyStreet and obtain actual selling prices registered on Land Registry.

National / regional prices are too generalistic. Every area has hotspots such as local schools, or demand for another reason. Even down to the quality of the the build of the house.