Hilarious! People in my area are increasing their asking price!

fimonkey

I've jsut got to laugh, have these guys not heard of property bee? Do they only ever read the press that says HP can only rise? Are they oblivious to the state of teh economy?

On Rightmove, in my area (BH23) and 1/4 mile around, a search properties priced over 100K (no point looking below that figure, its all mobile homes) will show at least 5% of owners have INCREASED their price,.. most of them since the budget too!

Oh how it makes me laugh... I will laugh even harder if they actually manage to sell - Good on them if they do (it won't be to me).

Is this happening anywhere else?

nearlynew

There's a few in my local area.

The funniest part of it is that they are houses which have been on the market for almost a year.

Greed and stupidity is a wonderful combination.

Jokers.

buglawton

In my area builders have been building group of 4-8 new houses on land bought from peoples back gardens.

Several developments were completed during the recent recession and some more come on stream soon. They are always sold out by the time each development project completes. The houses are medium to small compared with older builds and often terraced and asking is never below £300k. This is Thames Valley for you.

I don't see it as good news though, it just indicates that through good times & bad, UK house purchase (and decent living space) is for the few and not the many.

IveSeenTheLight

fimonkey wrote: »

Is this happening anywhere else?

Certainly.
Looking at the Land Registry, Nationwide, Halifax etc, they have all reported an increase in actual sold prices over the last year.
Stands to reason then that valuations are increasing in this current market

Here's a few links to verify the facts

http://www.landregistry.gov.uk/

http://www.nationwide.co.uk/hpi/historical/mar_2010.pdf

http://www.nationwide.co.uk/hpi/historical/q1_2010.pdf

http://www.lloydsbankinggroup.com/media1/research/halifax_hpi.asp

Dan:_4

nearlynew wrote: »

There's a few in my local area.

The funniest part of it is that they are houses which have been on the market for almost a year.

Greed and stupidity is a wonderful combination.

Jokers.

Hi mate, hows things?

How is your 100% guarantee of cheaper YoY house prices coming on?

nearlynew

Dan: wrote: »

Hi mate, hows things?

How is your 100% guarantee of cheaper YoY house prices coming on?

I stand by what I said.....

"This time next year, prices will be lower than they are today"

Dan:_4

nearlynew wrote: »

I stand by what I said.....

"This time next year, prices will be lower than they are today"

You first said this back in July last year, must be some massive rises coming in the next 3 months according to your 100% guaranteed prediction!!

Really2

nearlynew wrote: »

I stand by what I said.....

"This time next year, prices will be lower than they are today"

Sorry could not resist checking.
http://forums.moneysavingexpert.com/showpost.html?p=22244365&postcount=31

nearlynew wrote: »

I don't care how anyone responds to this post or what economist they quote, I can confidently predict that average house prices will be lower this time next year.

100% correct and gauranteed.

June ain't far away it is going to take a bit for prices to negative by then.;)

Cleaver

fimonkey wrote: »

I've jsut got to laugh, have these guys not heard of property bee? Do they only ever read the press that says HP can only rise? Are they oblivious to the state of teh economy?

You've just described 90% of the house-buying public. Most sellers are selling houses to people who want to buy them and aren't that savy.

nearlynew

This time next year, prices will be lower than they are today.

lostinrates

a friend of ours has recently exchanged on a home that was bid up 20% from an optimistic asking price....some people can just make amazing financial decisions, others just aren't very MSE.