Have house prices gone up?

goldbyron

have house prices gone up.....no, not round my way - outskirts of NE London. They seem to have gone down slightly - maybe by 1% or become stagnant.

As for HIPS - what a complete and utter waste of money.

Jowo_2

westlondonbuyer wrote: »

...
We got stung for two HIP surveys when we sold our flats, and no-one ever asked us about any detail they raised.

But it may have saved a dozens of questions raised by the buyers solicitor...

goldbyron

westlondonbuyer wrote: »

I think this is a function of intense competition between agents - they overvalue to get the instruction, then chip away at the asking price for ages until a buyer bites.

I don't think many older sellers are familiar with the information younger buyers access readily on the internet (land registry actual achieved prices, for example). Also, when you hear the agent's valuation, there's a temptation to think "ker-ching" and start mentally spending the money.

My thoughts only this week - older sellers seem to be less likely to accept a reduced offer. I also think they don't realise the information that buyers can access now to stop us being fooled by EA's over inflating prices. Its not helpful for anyone in this market as the houses won't sell and the buyers won't find anywhere.