Seller raises asking price substantially. A sign of the times?

puddy

i havent read all of the thread, but i'll just say that when we were putting offers in at the end of january this year, we offered on a bunglow, offer refused and then was told that the vendor had put the price up 10k and that if he didnt manage to sell it he was going to let it.
at the same time, another couple offered on the property, more than our offer but less than the asking price.
the bungalow needed completely re doing (probate job, old lady stylee).

its now september, we often drive past it (having now moved) and still see a 'to let' sign outside.

how we larf

nearlynew

I stand by what I said in post #17

tommy75

geoffky wrote: »

I can post thousands that have dropped in price......whats the point of this thread?

Nothing really unless you looking to buy in the North West but I've already gathered that your a lil slow so thats the reason for this thread mate. Sorry to waste your time geoffky. I like your similar thread, if you want some ideas, drop me a pm.

Thread meaning: Is the same happening in rest of country as NW at the moment..

tommy75

HAMISH_MCTAVISH wrote: »

And if you could have bought the house in 1970, it would be even more of a bargain.

Without a time machine however, neither scenario is likely to happen.;)

Still, in 10 years, todays prices will look like a bargain, so at least you can look forward to that.;)

Hamish, have house prices more than doubled in price within 5 years at any other time in history?

PasturesNew

tommy75 wrote: »

Hamish, have house prices more than doubled in price within 5 years at any other time in history?

On average, looking at the data set I have here on my desktop, prices have never doubled in 5 years.

The biggest rises since 1971 seem to have been
1971-1976: About 2.35x

Since 1971, the average increase over every 5 year period (measuring every month) is 1.62x in 5 years. We are currently sitting at 1.09x.
July 2007 to now, the average increase taken over any 5 year period that ended in that range is 1.359x.

2005-2007 the average (for 5 year periods ending in that range) was 1.75x

2003-2005 average was 1.97x

Prior to that it tailed off.

So, even 2x in five years is exceptional. On average... everywhere, every house.

Edit: I think I did the above figures wrong ... in fact, I know I did ... but now I've done it right it still says not a lot different so cba to change them now. Tiiired.

Blacksheep1979

PasturesNew wrote: »

On average, looking at the data set I have here on my desktop, prices have never doubled in 5 years.

erm your next statement seems to contradict that...

PasturesNew wrote: »

The biggest rises since 1971 seem to have been
1971-1976: About 2.35x

PasturesNew

Blacksheep1979 wrote: »

erm your next statement seems to contradict that...

When I said never, I meant rarely.
It's late.