rightmove - Asking prices up

kennyboy66_2

ad9898 wrote: »

I think the bottom line is a lot of vendors are starting panic, desperate to hang on to 2007 like it was the second coming. I think it's pretty obvious now that with firmer bank regulation, recession/depression, lack of credit, we will see the whole of the HPI bubble from 2001-2007 unwound, with an undershoot of perhaps 1999 prices. The 'wealth destruction' so far has been pretty spectacular, as we're back to April 2004 in only 18 months, with absolutely no indication that the steepness of the down curve is lessening.

Good news in the medium to long term for society and the economy.

If they are starting to panic then why would asking prices actually go up ?

If people want a "bargain" then why not just buy at auction, where it sems that prices are considerable cheaper.

The same people who are bemoaning unrealistic sellers now will still be doing the same 3 years hence.

"Good news in the medium to long term for society and the economy" - I'd agree with that wholeheartedly, but we will have another 3 years of falling / stagnating prices.

Sir_Humphrey

I have noticed two things in the last month looking at Rightmove in my area (South Central London). There have been some places coming on at totally ridiculous asking prices - complete time wasters. MUCH cheaper equivalent properties still on the market and not sold.

Secondly, Haart dumped a load of Sold properties on to Rightmove in a single day throughout South London (at least) in a desperate attempt to instill some bullishness (more like the waste product of a bull in fact). I would read absolutely nothing into these figures from a statistical PoV.

besonders1

What a mess we are in now,

RetroBob

LOL at sellers & Haart.

I put an offer of £116,500 on a house with asking price of £120,000 (since early Feb). Seller declined and a day or so later increased asking price to 130,000. Yes this is with Haart.

Anyway, increased 1k, declined and then said final offer £118,500. Take it or leave it.

mr.broderick

RetroBob wrote: »

LOL at sellers & Haart.

I put an offer of £116,500 on a house with asking price of £120,000 (since early Feb). Seller declined and a day or so later increased asking price to 130,000. Yes this is with Haart.

Anyway, increased 1k, declined and then said final offer £118,500. Take it or leave it.

Heavens is this the situation at the moment?

[Deleted User]

There are still thousands of propertys on Rightmove hugely overvalued, but suprisingly ive seen a couple on recently at relatively low prices and a couple of interesting repos.

Though there is a long way to go yet.

lostinrates

Sir_Humphrey wrote: »

I have noticed two things in the last month looking at Rightmove in my area (South Central London). There have been some places coming on at totally ridiculous asking prices - complete time wasters. MUCH cheaper equivalent properties still on the market and not sold.

Secondly, Haart dumped a load of Sold properties on to Rightmove in a single day throughout South London (at least) in a desperate attempt to instill some bullishness (more like the waste product of a bull in fact). I would read absolutely nothing into these figures from a statistical PoV.

I'm sure I read on the Buying and renting board someone was noticing strange rightmove activity.......

SouthCoast

Does this distort the statistics?

Guide Price £99,999,999

http://www.rightmove.co.uk/property-for-sale/property-11276145.html?locationIdentifier=REGION%5E61303&includeSSTC=true&_includeSSTC=on&pageNumber=1&backToListURL=%2Fproperty-for-sale%2Ffind.html%3FsearchType%3DSALE%26locationIdentifier%3DREGION%255E61303%26radius%3D0.0%26displayPropertyType%3D%26minBedrooms%3D%26maxBedrooms%3D%26minPrice%3D%26maxPrice%3D%26maxDaysSinceAdded%3D%26retirement%3D%26partBuyPartRent%3Dfalse%26includeSSTC%3Dtrue%26_includeSSTC%3Don%26sortByPriceDescending%3D%26primaryDisplayPropertyType%3D%26secondaryDisplayPropertyType%3D%26oldDisplayPropertyType%3D%26oldPrimaryDisplayPropertyType%3D%26oldSecondaryDisplayPropertyType%3D%26newHome%3D%26auction%3Dfalse%26x%3D70%26y%3D13

This has appeared after I posted!

D. M. Nesbit & Company, Southsea have removed this property as it may now be sold, under offer or temporarily withdrawn from the market

mr.broderick

SouthCoast wrote: »

Does this distort the statistics?

Guide Price £99,999,999

http://www.rightmove.co.uk/property-for-sale/property-11276145.html?locationIdentifier=REGION%5E61303&includeSSTC=true&_includeSSTC=on&pageNumber=1&backToListURL=%2Fproperty-for-sale%2Ffind.html%3FsearchType%3DSALE%26locationIdentifier%3DREGION%255E61303%26radius%3D0.0%26displayPropertyType%3D%26minBedrooms%3D%26maxBedrooms%3D%26minPrice%3D%26maxPrice%3D%26maxDaysSinceAdded%3D%26retirement%3D%26partBuyPartRent%3Dfalse%26includeSSTC%3Dtrue%26_includeSSTC%3Don%26sortByPriceDescending%3D%26primaryDisplayPropertyType%3D%26secondaryDisplayPropertyType%3D%26oldDisplayPropertyType%3D%26oldPrimaryDisplayPropertyType%3D%26oldSecondaryDisplayPropertyType%3D%26newHome%3D%26auction%3Dfalse%26x%3D70%26y%3D13

Does this ?

http://www.rightmove.co.uk/property-for-sale/property-24429608.html?locationIdentifier=OUTCODE%5E2831&sortByPriceDescending=false&radius=40.0&pageNumber=3&backToListURL=%2Fproperty-for-sale%2Ffind.html%3FlocationIdentifier%3DOUTCODE%255E2831%26sortByPriceDescending%3Dfalse%26radius%3D40.0%26index%3D20

hookbeak

The problem at the minute is that sellers can't lower their prices until other sellers do the same.

for example i'm selling at 165k, the house i want is 220k, if i take 20k off my price i then can't afford to buy the house i want unless they drop 20k off as well.

If i can't buy another house - there's no point in me trying to sell mine for less.

and round and round we go.