Would-Be Sellers 'Must Drop Asking Prices'

homelessskilledworker

Asking prices for homes have dipped for the first time in six months, according to a new study.
Market trend website Rightmove (Other OTC: RTMVF.PK - news) said the average asking price fell by 1.7%, which amounts to £4,138 for the typical home.
The firm said it was also the first July in four years in which prices have dropped, and added that the ratio of people trying to sell their homes now outnumbered actual buyers by two to one.
Because of the oversupply of homes on offer Rightmove are warning sellers they need to cut prices further to remain competitive.

http://uk.finance.yahoo.com/news/sellers-must-drop-asking-prices-073611078.html

homelessskilledworker

It's only a matter of time now before house prices will reflect the economy we are living with.

Graham_Devon

homelessskilledworker wrote: »

It's only a matter of time now before house prices will reflect the economy we are living with.

It's been 3 years. Sellers will ask for as much as they can possibly ask. If any vote of confidence shows in the media, you could see the prices people asking are back to rising at some pace again

This is simply a blip, and there is nothing more to it than that at the moment. It does tally with what surveyors are saying, and it's stange for possibly the busiest month in the year for house buying to dip.

Removal companies are suggesting it's now worse than at any point they have seen. Possibly due to people doing it themselves due to funds, but also the lack of people moving. So theres a lot goign on, but wouldn't expect too much from it.

The government can, and likely will intervene. They just have done with the mortgage lending stuff, but that looks to have fallen on it's face already if you believe the people who it should help. We'll see. But there is more that the government will do. Already talk of "rewards" for taking on debt are taking place.

heathcote123

homelessskilledworker wrote: »

Asking prices for homes have dipped for the first time in six months, according to a new study.
Market trend website Rightmove (Other OTC: RTMVF.PK - news) said the average asking price fell by 1.7%, which amounts to £4,138 for the typical home.
The firm said it was also the first July in four years in which prices have dropped, and added that the ratio of people trying to sell their homes now outnumbered actual buyers by two to one.
Because of the oversupply of homes on offer Rightmove are warning sellers they need to cut prices further to remain competitive.

http://uk.finance.yahoo.com/news/sellers-must-drop-asking-prices-073611078.html

Much to my annoyance, all the apparently overpriced stuff coming on here keeps selling. Maybe their journalist is up north or something.

HAMISH_MCTAVISH

Why did he start two threads about the rightmove report?

And why didn't he realise asking prices fall at this time every year?



Asking prices will no doubt continue to fall in the months ahead, before rising again, then falling again, then rising again, etc.

Lewis1967

homelessskilledworker wrote: »

It's only a matter of time now before house prices will reflect the economy we are living with.

Yes and the economy is only going one way, its not up.

Yet those ramping property on here somehow still think house prices will weather the storm somehow. It is going to be a very big storm when the problems they keep putting into the futre can not be kicked down the rd anymore.

homelessskilledworker

Lewis1967 wrote: »

Yes and the economy is only going one way, its not up.

Yet those ramping property on here somehow still think house prices will weather the storm somehow. It is going to be a very big storm when the problems they keep putting into the futre can not be kicked down the rd anymore.

I see it this way...

Some Guy has jumped off a 50 storey building convinced that he he will be fine, even though those that are bearish on the outcome of living through a 50 storey fall tried to warn him:)
He has past the 4th 3rd floor and shouted "There I told you, I am still alive"

There is an event coming...

DervProf

I know of one vendor who knocked £20K off her £470K asking price in the past month or so.

That certainly wouldn't have happened 6 years ago.

JonnyBravo

homelessskilledworker wrote: »

I see it this way...

Some Guy has jumped off a 50 storey building convinced that he he will be fine, even though those that are bearish on the outcome of living through a 50 storey fall tried to warn him:)
He has past the 4th 3rd floor and shouted "There I told you, I am still alive"

There is an event coming...

I liked it best when Ic1male told the story.
He got PPR'ed quite quickly though.
I don't suppose you know why do you HSW??

Ic1male wrote: »

A bit like the man who jumped off a 100 storey building and half way down someone shouted to him "whats it like?"

He said "Its OK so far!"

wotsthat

homelessskilledworker wrote: »

There is an event coming...

Foxy, there's always an event coming. You don't need to be Nostradamus to predict that so you'll be 100% correct.

What and when is the important thing - any ideas or have you just got a funny feeling?

It is something that I've noticed politicians doing more. Predicting 'something' that isn't specified but I'll guarantee you that when 'something' happens they'll be telling us all about their predictive powers.

homelessskilledworker

JonnyBravo wrote: »

I liked it best when Ic1male told the story.
He got PPR'ed quite quickly though.
I don't suppose you know why do you HSW??

No, do you mind telling me.

You seem to do a lot of this detective work with a smugness of feeling sure you are right.

OK, here is a challange for you...

I will bet you £10,000 towards Martin Lewis top charity that you cannot link me to Iclmale, and you have my permission MSE to give this gobs***e anything you might have

All for charity, but when it comes to the crunch I dare say we won't hear much from Johny Bravo:)

Come on Martin Lewis this is for charity, I am sure Johny Bravo does not mind risking £10,000 on a sure fire bet.