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MSE News: House asking price rises put sellers off

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MSE News: House asking price rises put sellers off

edited 30 November -1 at 1:00AM in House Buying, Renting & Selling
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MSE_GuyMSE_Guy MSE Staff
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edited 30 November -1 at 1:00AM in House Buying, Renting & Selling
This is the discussion thread for the following MSE News Story:

"Overly optimistic sellers increased their asking prices by 1.7% in April but potential buyers continued to stay away ..."

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  • danothydanothy Forumite
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    I'd love to see these asking price stats lined up side by side with comparable changes in actual selling prices.
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  • edited 18 April 2011 at 3:48PM
    DavesnaveDavesnave Forumite
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    edited 18 April 2011 at 3:48PM
    This is hilarious.

    In local papers, the agents are forever urging 'realism' over prices, yet:

    "On a monthly basis, the South West saw the biggest increase in asking prices of 3.3%"

    So who been valuing these properties 'realistically' if it's not the agents?
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  • tyllwydtyllwyd Forumite
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    House price rises put sellers off ????
  • edinburgheredinburgher Forumite
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    It's become significantly harder to get a mortgage?

    FTBs sitting on their hands/deposits?

    Tell you what - let's put up our asking price - that'll work! :rotfl:
  • brit1234brit1234 Forumite
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    It seems new houses especially in London go on with higher asking prices and then fall when every says they are too costly.

    Right Move only include asking prices when first put on, they don't include asking price changes on existing prices and thus not a true reflection of asking prices. They are even further removed from the far lower selling prices.

    There is about a 33% difference between Halifax and Rightmove prices. These asking prices are meaningless now.
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  • tara747tara747 Forumite
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    They put buyers off, you mean!

    Ah, the optimism of sellers in spring... :rotfl:
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  • It seems normal here for asking prices to drop within a month of going on the market, sometimes by tens of thousands, and then still not sell.

    So what is going on? The agents must know they won't sell. Could they be tricking buyers into thinking they are getting bargains? Or tricking sellers to get them on their books? Or maybe they are just not too bright.

    To a certain extent I don't blame people for not cutting prices, when the problems is lack of any mortgages rather than general affordability. Might as well tough it out and wait for lending to resume.
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  • elliewildelliewild Forumite
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    i was selling my property at 80,000 but no luck so im now renting it out. my brother was selling his and getting silly offers of 20,000 under the asking price (which he was considering). actually when assessing the market through property bee a lot of houses ive been looking at have dropped 10-20,000 anyway to entice buyers. if your on the second rung you've got little chance of selling as you need a wopping deposit or to sell your own home before buying. we had 15,000 deposit but couldnt put in offers because we had to sell ours (on the first rung so to speak) its a nightmare. we have just bought a caravan to move into while we're still looking! i'm hoping that people will be so desperate to sell that i can bargain down the price and get a good deal. (i was screwed first time round as i bought in the boom and have negative equity - with our first house you dont know what to look for etc and so got totally screwed over.)
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  • All this means is that the gap between asking and selling prices is going to increase. Perhaps back to 20%+ like it did in Nov 2010 for London.
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  • brit1234brit1234 Forumite
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    It means any sensible buyers are going to put a lot lower offers in. Its just the spring bounce, sellers are being a little deluded about financial reality at the moment. They bought when there was mass fraud, lying about salary and all kinds of loose lending. That's been mostly clamped down on now so they will never get a buyer prepared to pay 2007 prices.
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