Average Deposit now 66K !

geneer

Average Deposit now 66K !

Which is not the same as the average deposit requirement being £66K.

In other words FTBs proportions are much diminished, and the majority of home movers have some equity when they move.

In other words zzzzzzzzzzz tell us something we didn't know.

Rochdale_Pioneers

As some of you know I tried and failed to sell up in Teesside and took my house off the market to see what happens. There are two very similar houses to my own (all build c. 2006) now going at £50k less than the original sale price (discount of nearly 30%).

Well, when I say "going" they're offered for that price. They're not going. Nothing seems to be going and you have to ask how much of a discount sellers would have to stomach to find a buyer at the moment. Yes, you can argue that property is only worth what what someone is willing to pay for it, and that if they're not selling then thats the fault of the owner not effectively bankrupting themselves by making a massive lost. But how many people are set up to lose £50-£60k on a £170k house?

And is *noone* seems to be buying anything, it seems to point to a market that is absolutely stone dead, in smoggieland at least.

dtsazza

Rochdale_Pioneers wrote: »

But how many people are set up to lose £50-£60k on a £170k house?

I think you mean, "how many people are set up to sell a £120k house for £120k?"

Judging by the number of sales, not that many.