It's all gone maaaad where I live.

tomstickland

I was having a look round on Rightmove last night and there are now 3 flats from my block of 9 that are on rightmove for rental. All the same price.

Two of the five houses next door are back for sale. Both were on earlier in the year and didn't move. They're cheaper this time.

The flats across the road that were selling for £120-£130K in 2006 are still on the market, prices getting down to £112K now.

It'll be interesting to see what happens.

surreybased

That is interesting..what area are you in?

Cannon_Fodder

Location:Stroud.

not_loaded

It’s always hard to say from a distance (time and geographical). For example were those asking prices or selling prices? However, bearing in mind that late 2007 was pretty much the peak of the market, the flat pricing sounds like a 2010 firming up of price, not a significant reduction, ie: getting back now towards the 2006 prices.

Lovely area the Stroud valleys…

tomstickland

The sale prices are definitely lower than the 2006 levels.
2 bed flats went for around £130K then and are not shifting at £115K now.
1 bed flats went for around £90K then and one has been on the market for a year and hasn't shifted at £63K.

One of the houses was on for £145 a year or so ago and is now on at £137K.
The other house was on for £160K a few months ago (too high) and is now back on at £150K.

[Deleted User]

Hi,

think estate agents overprice, looking for a whack on commission, so you could take 10% off asking price, if you are buying, go in with that idea, 10% less than asking price.

Running_Horse

They may have something to add over on the house price forum.

tomstickland

Yes, they might, but I didn't want to get another tedious "prices are going to crash", "prices are going to rise" war going on.

westv

tomstickland wrote: »

Yes, they might, but I didn't want to get another tedious "prices are going to crash", "prices are going to rise" war going on.

Spoil sport!

not_loaded

tomstickland wrote: »

The sale prices are definitely lower than the 2006 levels.
2 bed flats went for around £130K then and are not shifting at £115K now.
1 bed flats went for around £90K then and one has been on the market for a year and hasn't shifted at £63K.
One of the houses was on for £145 a year or so ago and is now on at £137K.
The other house was on for £160K a few months ago (too high) and is now back on at £150K.

Thanks for the more detailed info on the prices. So currently they’re ‘asking’ £115k and not getting it. Maybe they will shortly, and if they’ve a mortgage you certainly can’t blame people for trying.

The 1 bed looks unsaleable in today’s market. That’s bound to happen when you get down to those low levels of pricing. My daughter picked up a 2-bed end of terrace for similar money a year or so ago. Albeit a fixer-upper, but it defines the bottom of the market.

My point at #4 essentially was that there’d have been a significant dip in 2008, and now they’re in a way getting back to a better price level. It remains to be seen whether ‘asking’ turns into ‘paid’.

When_is_the_reset?

not_loaded wrote: »

My point at #4 essentially was that there’d have been a significant dip in 2008, and now they’re in a way getting back to a better price level. It remains to be seen whether ‘asking’ turns into ‘paid’.

Could you do me a favour and define 'better' in this context?