MSE News: Property asking prices down 3%

Former_MSE_Guy

This is the discussion thread for the following MSE News Story:

"House sellers slashed asking prices during the past month in the largest December drop for three years ..."

Read the full story:
Property asking prices down 3%

brit1234

Good news for us buyers priced out of the market but I'm sure sellers will put up asking prices for the estate agents mythical spring bounce. Lets hope it doesn't appear like the September bounce which vanished and sellers get the hint to sell at affordable prices.

Main thing is actual prices have been falling for months now, falling asking prices adds extra hope for ftbs.

landsker

Having sold our Spanish home and been screwed on price to the extent that we have accepted 60,000€ less than our purchase price 5 years ago (excluding 10% taxes), and we have had to include all our furniture, we are looking to screw vendors similarly hard on the price of a property in the UK.
Completion for us is mid January next year and we'll be back in Blighty soon after.
Pray that the exchange rate GBP/Euro gets more favourable for buying GBP - we are!
We will have no need for a mortgage ( :j ) so hopefully will be in a strong position.
We will be looking in a cheap area - the East Midlands - so how much under an asking price of say, £90,000 to £95,000 should we hit a seller with?
(That price WILL buy a semi or terrace house in our likely town of purchase)

brit1234

Swings and roundabouts.

The longer you wait the stronger the £ will be against the Euro as there are likely to be more shudders with the PIGS nations. However the longer you wait the more UK house prices will fall.

I recommend changing the money to £s as soon as possible and then waiting for more UK property drops.

It might be worth paying for a chat with a financial expert on the matter. The chat may cost you a little but save you 10s of thousands of pounds.

SG27

:jYay that makes it 6% in two months:j

I know it's horrible for the sellers but it's great for us first time buyers