MSE News: Asking prices for homes fell in July

Former_MSE_Helen

"House sellers have cut their asking prices by the biggest amount in the month of July for four years, says Rightmove..."

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Asking prices for homes fell in July





This thread is not in the 'discuss house prices and economy board' as that is only open to those logged into the forum so anyone coming from the news story may not be able to see it.

MacMickster

Surely asking prices say very little about the property market. It is the prices that properties actually sell for which provide useful information.

brit1234

I ignore asking prices, they are ramped up by estate agents to get business. They are also initial asking prices so never include existing properties which are dropping/rising over the months.

Sellers need to get real if they want to sell, asking prices are a joke. If you want to price realistically check out what similar properties have sold for.

DRP

brit1234 wrote: »

I ignore asking prices, they are ramped up by estate agents to get business. They are also initial asking prices so never include existing properties which are dropping/rising over the months.

Sellers need to get real if they want to sell, asking prices are a joke. If you want to price realistically check out what similar properties have sold for.

but asking prices are *always* ramped up therefore that is a fairly constant factor in the equation - in the housing market (in my experience) it has always been normal to offer the asking price minus ~10-15%

I certainly don't go in at anything more than that for my 1st offer

HAMISH_MCTAVISH

Asking prices remain 2.3% higher than one year ago.

And as per Land Registry, actual selling prices remain higher than a year ago as well.