Starting to see lots of reduced prices on Rightmove

homelessskilledworker

Over the last few weeks I have noticed several properties that I have been keeping an eye on have their prices reduced, anyone else notice the same.

I am not making a point here before anyone jumps down my throat, just would be interested to know if there is anything in it or coincidence.
For me it has been more noticable now than in the whole two years that I have been looking.

Sampong

I'm noticing this also, do you use Propertybee? It enables you to see the previous listing prices of propeties.

Thrugelmir

homelessskilledworker wrote: »

Over the last few weeks I have noticed several properties that I have been keeping an eye on have their prices reduced,

If there not selling. Then the only option is to reduce the price until a buyer appears.

homelessskilledworker

Sampong wrote: »

I'm noticing this also, do you use Propertybee? It enables you to see the previous listing prices of propeties.

Looking at it now... thanks

CLAPTON

a family member is trying to buy a property
they has offered the full asking price on three properties; in each case some-one else has offered more

mumps

I've noticed a lot of sold notices locally. I don't know what the prices were or if they had been reduced but some had been for sale for quite some time. In one road there are 4 or 5, two of them have had boards up for well over a year, and suddenly three or four of them have sold. I am not really looking at houses but just noticed the boards.

grizzly1911

Depends on location,

A guess if you have been banging your head against a brick wall after 12 months you have to get real and reduce or withdraw. Depends on how desperate you are.

Certainly in our small town the 250 stamp duty limit is having a big effect. Those that would have gone for 275-300 before the threshold/start of crash are only making 250. Those comfortably above it have stabilised.

I am sure if the STL was graduated than applied to the whole price there would have been more stabilisation rather than falls

I know of 3 properties in the West Midlands that have had to reduce markedly for quick "probate sales".

Mini_Bear

5-bed house opposite me dropped from 315k to 299k - SOLD, 3-bed house a few doors down dropped from 239k to 219k - SOLD! (We are in south-east, Great Notley, Essex) so properties are definately shifting if sellers are prepared to drop their expectations!

Itismehonest

mpmbm wrote: »

I recomend keeping a close eye on your area and advertised and actual sold price from www.nethouseprices.com.

First time I've looked at that site.
Interestingly it says there's been no change in prices in my area for the last 1,2 or 3 years & a +£9,350 from 4 & 5 years ago.
Somehow I don't think that's true but then there was one sale in 2002, 3 in 2005 & 1 in 2009 so they don't have much info to work on

chucky

homelessskilledworker wrote: »

Over the last few weeks I have noticed several properties that I have been keeping an eye on have their prices reduced, anyone else notice the same.

I am not making a point here before anyone jumps down my throat, just would be interested to know if there is anything in it or coincidence.
For me it has been more noticable now than in the whole two years that I have been looking.

There are four 5-bed house round my way that we're originally on for about £600k and all four have now sold for less than £250k.

Who ever tells you that house prices are not crashing are not telling you the truth.

moneyinmypocket

People sell a house at a price they can afford. - this isn't like it was back in the 80s and 90s where people handed they keys back to bank. People will rather tread water than take a big hit or else there is no point - some fall outside of this but not many