Rightmove Index for December 2010, -3.0%

lemonjelly

welcomes back chuckster.

Where's you bin? Did Karl Henry tackle you or something?

chucky

lemonjelly wrote: »

welcomes back chuckster.

Where's you bin? Did Karl Henry tackle you or something?

been a tough few months at work - project nearly done though.

this place never changes - debate is pointless

the.ciscokid

Percy1983 wrote: »

As mentioned above, falls in asking prices don't strictly change selling price, I currently see a house on rightmove for £110k to swich I wouldn't pay more than £90K, so right now i wouldn't even bother. Where as if it dropped to £95k-£100k I would consider offering the £90k its worth.

With that the index does point to the fact more sellers are startng to get the idea.

But, it would seem given you example, falls in asking price lead to the possibility of selling, rather than you not bothering to look...

I think an adjustment downwards in the asking price, in the mind of a seller, IS changing the selling price, or why would they list it higher?

Percy1983

the.ciscokid wrote: »

But, it would seem given you example, falls in asking price lead to the possibility of selling, rather than you not bothering to look...

I think an adjustment downwards in the asking price, in the mind of a seller, IS changing the selling price, or why would they list it higher?

I think we are looking at it from different directions but will come to the same answer.

I do stand by the point that many house prices dropping won't affect the potential selling price but will just make it more likely to sell.

With that it keeps the availablity of 'lower priced' properties high which then helps push selling prices down further.

In short the arguement of many bulls that 'people just won't sell' doesn't seem to be true yet, I do believe they will hit a lower floor eventually, but right now there is still further drops ahead until it gets there.

the.ciscokid

Percy1983 wrote: »

I think we are looking at it from different directions but will come to the same answer.

I do stand by the point that many house prices dropping won't affect the potential selling price but will just make it more likely to sell.

<snip>

My question to you is, who sets the asking and selling prices? I think that it is ultimately the vendor, and thus it is not plausable to say "won't affect".

To my mind, a vendor being convinced to reduce the asking price is akin to accepting a lower selling price is inevitable.

geneer

THE_GHOULISH_CODPIECE wrote: »

Asking prices aren't selling prices.

Thats some yaw dropping insight there mate.

geneer

Graham_Devon wrote: »

This is what Hamish has to say about Rightmove...

http://forums.moneysavingexpert.com/showpost.php?p=26098293&postcount=6



Dunno if he's changed stance now. Afterall, that was +2.8%....AND huge.

It's now -3%, so I take it thats "huge-er".

I also take it, it's a good barometer of sentiment in the market, especially when you look over 6 months, and 5 are falling?

I dunno though....I do have a felling all of that will have changed.

:rotfl::rotfl::rotfl::T:T:T

Very funny.

But not half as funny as Spamish's attempts to wriggle out of it.

Percy1983

As I say from looking on rightmove locally I see more prices dropping to resonable levels rather than dropping well below, yes this will affect selling prices but not by 3% and I do agree it will help the downward pressure on the market.

So yes lower asking prices will lead to lower prices and more sales but right now I think its going to be more weighted to more sales than lower prices.

But yes its a good sign prices are on there way down and sellers are actually realising, it might not be a crash but its helping the decline.

chucky

Percy1983 wrote: »

As I say from looking on rightmove locally I see more prices dropping to resonable levels rather than dropping well below

so the barometer of house prices is Percy saying that they are at "resonable levels".

forget that houses will sell for what people will buy them for but "resonable levels" for house prices is what poor Percy can afford...

<chucky laughs at the Devonian virus spreading on this forum>

wherediditallgothen

chucky wrote: »

so the barometer of hosue prices is Percy saying that they are at "resonable levels".

forget that houses will sell for what people will buy them for but "resonable levels" for house prices is what poor Percy can afford...

<chucky laughs at the Devonian virus spreading on this forum>

There's a seperate board for 'hosue' prices. Apparently they are selling at 'resonable' levels.