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Rightmove Feb - Asking prices surge 3.1% as sellers demand higher prices
Turnbull2000
Posts: 1,807 Forumite
http://www.rightmove.co.uk/news/files/2011/02/february-2011.pdf
Rightmove also agrees with my view that low transaction levels will become the norm for quite a while, as even though mortgage funding is significantly below pricing levels, owners and mortagees simply do not need to sell, but instead opting to stay put, exploit ultra-low rates or rent out.
In other news, local authority new housing approvals have fallen significantly.
Rightmove also agrees with my view that low transaction levels will become the norm for quite a while, as even though mortgage funding is significantly below pricing levels, owners and mortagees simply do not need to sell, but instead opting to stay put, exploit ultra-low rates or rent out.
In other news, local authority new housing approvals have fallen significantly.
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You couldn't make it up, amongst a myriad of issues counting against the asking of higher prices, you'd think that with approvals at their lowest level ever they'd get the hint that what they want might not be achievable, and if they stick to their guns they may have to wait years for a sale.Have owned outright since Sept 2009, however I'm of the firm belief that high prices are a cancer on society, they have sucked money out of the economy, handing it to banks who've squandered it.0
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I got an offer accepted on a house in the South-East 2 weeks ago. I got 10% off the asking price. It had previously been on the market at about 10% above the new asking price. That tells you all you need to know about the validity of asking prices. These vendors puttting their asking prices up seem to be totally deluded if you ask me.Turnbull2000 wrote: »0 -
Irrelevent, they dont need to sell because the BoE is keeping them on the gravy train with their low interest rates. SO its impossible for young ppl to get on the ladder and we all have to rent at ever increasing prices instead.I am not a financial expert, and the post above is merely my opinion.:j0
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Not sure I'd agree with Rightmove's definition of vendor's trying to get a "fair" price, and they studiously avoid saying prices have to fall. The overall picture seems to be "this year, the housing market will continue to be disfunctional."0
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Actually I was surprised Rightmoves data wasn't higher last month for the spring bounce. Must come through this month instead. All those people thinking of putting their homes on again at a higher price just because an estate agent says spring bounce. Well they will just sit there looking stupid.
On the house selling page there was one seller putting their property £5k over the valuation expecting lower offers. I'm sure this is very common so don't forget to ask for 20% reductions when you go to buy.:D
February listed home seller
:rotfl::exclamatiScams - Shared Equity, Shared Ownership, Newbuy, Firstbuy and Help to Buy.
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Doesn't it need to be spring for a spring bounce? Or is that just old fashioned?This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com0
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You couldn't make it up, amongst a myriad of issues counting against the asking of higher prices, you'd think that with approvals at their lowest level ever they'd get the hint that what they want might not be achievable, and if they stick to their guns they may have to wait years for a sale.
I dunno, I can believe it. A lot of advice appears to be asking a higher price, to allow for lower offers. Seems to run through a fair few threads on the buying and selling board.
Trouble is, theres also a lot of annoyed buyers unable to proceed as the surveyor has said it's not worth the price agreed.
Doesn't really help anyone. Seller thinks they are canny asking more, and getting an offer 10% under. Surveyor says it's not worth it. No one can move. Lots of wasted time.0 -
Doesn't it need to be spring for a spring bounce? Or is that just old fashioned?
And they make this mistake every year....:D
We won't see the spring bounce figures in the stats until April, as it'll start in March.“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
Like last year?... because that didn't happen :rotfl:0
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