house prices going up

bootalishus

Hi all
I think the worlds going mad in North Kent. Am noticing a trend that buyers whose houses have been on the market for well over a year are now putting prices up.
A house on the market for £1.15m for over a year is now on with a new agent for £1.5m. Another one which has been on the market for at least 2 years has gone up from £525k to offers between £550k - £595k.

There are several others doing the same - do they think we are really that stupid.

I would however add that there are alot of "Sold STC" appearing in this area especially the larger detached houses. Not sure why. Do they know something we dont? Would also point out that there is very little new stuff coming on the market, just the same over priced ones changing agents.

pawpurrs

Prob because everyone is offering xx% below regardless, they want to factor that in

JayZed

We've obviously hit the bottom. Quick, buy some houses now while you still can!

PD1

Interesting post. The mortgage surveyor who recently valued my house made similar comments to me. She said a £550,000 house she had just surveyed had created a bidding war leading up to a successful sale. Maybe its due to the lack of larger houses on the market.

besonders1

Its true what you say about the numbers of houses on the market especially new sellers are getting more and more scarce. It seems like people don't see any point in selling any more as they think they'll get next to nothing for it . It seem like that if they can't get 2007 prices for it then they won't sell at all.(although they will still get me than what they sold for 5 years ago!)

devilot

I heard on the news there are less houses for sale now than there have been for a good while - people will always need to move so perhaps supply and demand is starting to kick in!:eek:

Cat695

devilot wrote: »

I heard on the news there are less houses for sale now than there have been for a good while - people will always need to move so perhaps supply and demand is starting to kick in!:eek:

or maybe no one can get a mortgage to buy so they will have to reduce their prices even more.

Anyone who thinks house prices are going to rise anytime soon (especially this year) is living on a different planet.

besonders1

I doubt prices could go up unless people had the money to buy their house outright, its unlikely that a FTB would fit that criteria anyway. Prices can go up to what they like but what they're selling at is a totally different thing.

zone

Lots of properties still coming on to the market at late 2007 prices. People are still optimistic that things will pick up later this year or at least stabilise. Whether that will happen or not remains to be seen.

Cat695

zone wrote: »

Lots of properties still coming on to the market at late 2007 prices. People are still optimistic that things will pick up later this year or at least stabilise. Whether that will happen or not remains to be seen.

How can markets stabilize when banks/BS aren't lending.......mortgages are at their lowest since 2001...no 100% mortgages and a possibility of a max of 3.5 x salary.......with a min of 5% deposit

prices are going nowhere but down, but only for the people that NEED to sell.

Yakubu22

zone wrote: »

Lots of properties still coming on to the market at late 2007 prices. People are still optimistic that things will pick up later this year or at least stabilise. Whether that will happen or not remains to be seen.

I think there's a lot of deluded sellers about - who think a buyer might come and offer 5-10% off the asking price believeing they're getting a good deal.
However I suppose there are some less informed buyers who will do just this.

IMO -In reality a buyer is going to need 20% off at least to get a bargain