Are we back to 2004 Roughly?

pawpurrs

Price wise? So difficult to tell

Doozergirl

Prices didn't do much here in the four years 2004-2008, a gradual increase really so I would say probably yes - here.

It's going to be different everywhere though.

pawpurrs

They went up quite a bit where I am in that period....

confused31_2

I would say we was at 2004 levels now, the sellers just need to get their heads around it and price their houses at 2004 prices.

Which by me hardly anyone has got their house at 2004 levels, there still at peak level prices.

I think if anyone wants to sell by us they will have to keep on dropping otherwise, they are just not going to sell, hardly any houses have sold by me and i seen one the other day bought in 2004 newbuild 3 bed detached bought for 150,000 and its now on the market for 269000, theres no way anyone will buy it for that much, it just makes me laugh, dont the estate agents explain to the vendors?

pawpurrs

That does seem a little crazy, I am starting to see more realstic asking prices, but not in the village I want they seem to be ar more than peak prices, albeit none are selling, the local EA there way overvalues everthing! In fact there are houses there that have been on the market 4 years and not changed the price!

confused31_2

I think maybe the people will accept lower offers, but when the prices are so high it puts people off, even viewing.

eventually if they want to sell the will have to drop the prices, if they dont they will have to stay where they are.

We no longer have are house on the market but we had it on for 139,950 and it was a 3 bed semi, now im seeing 3 bed semis come on the market by us for 235000, they may be a traditional semi, and ours is slightly smaller, but there is no way they are worth that much more.

when i look at the house prices the most expensive house down there road was sold in 2004 for 170,000, at the same time down our road a semi sold for 160,000 in 2004, so how they can justify asking for 235000?

PasturesNew

I am seeing a lot of 2003-2004 actual sold prices. And a lot of 2003-2004 asking prices. I've even seen a couple of 2001-2002 actual sold prices... but you can still see some 2007 asking prices out there

Every property, every area, will be different.

But "yes".

QTPie

All depends on the area and the sector of the market you are looking at.

We just sold (went under offer in mid-Feb, exchanged contracts last week, completing mid-April) for "late 2006" prices. We sold to a cash investment buyer (who owns a portfolio of rental properties, developes property AND has had a long and distinguised career in the construction industry - so no idiot!). Most of the houses that I am watching are "2007+" prices, but it depends what sort of offers they are ammenable to (if they accepted offers about 90% of the asking price, then they would be late 2006 prices).

I had a good look at houseprices.co.uk (for the past 6 months of sales) for my city, though - interesting. Virtually all houses that sell are sub-£400k. A few £1m+ have sold. Very, very few £500k - £900k (it is virtually a dead sector of the market). I think that the "larger family homes" in this area is the least likely to sell at the moment: the properties lower down the property ladder have been MUCH quicker to realise price drops and realistic pricing (and I am guessing those that have £1m+ are going to carry on and buy regardless of a blip or two in the housing market).

Things are looking better (from a buyer's point of view), but it is taking time...

QT

puddy

im still bitterly looking at the 2 properties we offered on to take delight in the fact that they still havent sold and still havent reduced their prices which are absolutely 2007 prices

bdon

not round my way - still (bizarrely) about 2006 - mind you that's asking...

pawpurrs

Asking prices vary enomoursly my way, although new instuctions, seem to be lower. Speaking to the agents though seems to indicate that those actually going under offer, are those willing to take an offer.