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Debate House Prices


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Home owners are in danger of overestimating properties by average of £35,000

13

Comments

  • Mini_Bear
    Mini_Bear Posts: 604 Forumite
    My area is also Chelmsford blunt crayon and i too am perplexed.
    Dont get me wrong there are a lot of ppl still thinkin their house is worth what it was back in 2007, but those stats just dont add up.
    unfortunately my pc is too slow to run property bee which i imagine wud be quite telling.
    the bbc are property !!!!!! makes so i guess they will always try to make crash figures look better than they are.
  • Pobby
    Pobby Posts: 5,438 Forumite
    Don`t get me wrong. I am not saying that the BBC is correct.
  • ad44downey
    ad44downey Posts: 2,246 Forumite
    carolt wrote: »

    the East and South East of Britain, where home owners estimate the average value of their home to be £226,759 compared to an average actual sale price of £173,337.
    Vendor delusion knows no limits.
    Krusty & Phil Madoff, 1990 - 2007:
    "Buy now because house prices only ever go UP, UP, UP."
  • blunt_crayon
    blunt_crayon Posts: 168 Forumite
    Pobby wrote: »
    Don`t get me wrong. I am not saying that the BBC is correct.

    Obviously the stats vary between different orgs but I don't know how they can claim -6.5% when the average must be about -12%! Any idea how it's worked out? Bar dropping the tens from the units??
    plus ça change........
  • michaels
    michaels Posts: 29,560 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    Nice economics experiment - ask students how much they would pay for a basic mug and the answer is very little, give them the mug and ask them what they would sell it for and suddenly it is worth a lot more - sound familiar?
    I think....
  • Gorgeous_George
    Gorgeous_George Posts: 7,964 Forumite
    Part of the Furniture Combo Breaker
    If I was to offer my car for sale, you might offer me £100. I might think it is worth £10,000.

    If you offer whatever my bottom line is, or more, we might do a deal.

    If you don't there is no harm done. I'll keep my car and you can walk.

    GG
    There are 10 types of people in this world. Those who understand binary and those that don't.
  • StevieJ
    StevieJ Posts: 20,174 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    This thread is so funny icon7.gif
    'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher
  • pickles110564
    pickles110564 Posts: 2,374 Forumite
    ad44downey wrote: »
    Vendor delusion knows no limits.

    Baconboy, dont you mean delusional renters not realising they have found their limits.:rotfl:
  • geoffky
    geoffky Posts: 6,835 Forumite
    The bbc thing says in my area prices rose 15% for the year after sales of only 70 houses...cant be right?
    It is nice to see the value of your house going up'' Why ?
    Unless you are planning to sell up and not live anywhere, I can;t see the advantage.
    If you are planning to upsize the new house will cost more.
    If you are planning to downsize your new house will cost more than it should
    If you are trying to buy your first house its almost impossible.
  • mr.broderick
    mr.broderick Posts: 3,778 Forumite
    1,000 Posts Combo Breaker
    geoffky wrote: »
    The bbc thing says in my area prices rose 15% for the year after sales of only 70 houses...cant be right?

    Acceptance comes next geoff.
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