Rightmove & their asking/selling prices

chewmylegoff

breadlinebetty wrote: »

Looking through Rightmove I came across this house at an asking price of 'Offers above £800k'


http://www.rightmove.co.uk/property-...-34196707.html


The house is in Purley, Surrey and comes under Greater London. It does have some issues: sloping garden, smallish rooms and a few other things that need updating etc, hence the relatively low asking price for a detached property in one of the best areas of Geater London.

The house fetched £785k, so just under 2% less than the minimum asking price.

So going by that, estate agents obviously get their asking prices near right - well, that one does, anyway.:)

Out of curiosity has anyone come across any properties on Rightmove that fetched much less than the asking price? Like, for example, 30% less?

I can't traipse through all of the properties and check against the asking/selling prices, but if anyone can supply proof of properties selling at 30% less than the asking price I'd love to see them!:)

yes, for instance how about this - an average house in a distinctly average area of greater london (purley: it's not that great) which was marketed at a ludicrous offers over £800k.

http://www.rightmove.co.uk/property-...-34196707.html

i have it on good authority that it had sold for £560k, exactly 30% off its asking price (ignoring the fact that by asking over £800k, you are literally asking for more than £800k).

of course i cannot prove it because it's just listed on rightmove as sold subject to contract, and it hasn't actually sold at all yet, and it won't appear on the sold data for months yet even if the sale actually completes, but you get the idea.

what's that? i'm just making up a load of bolloxs because i have nothing better to do? oh yeah, that's right. my mistake.

breadlinebetty

Here you are......I've found another house in the very average Purley for you, ChewLeg!:D

http://www.rightmove.co.uk/new-homes-for-sale/property-36020137.html

There's loads of hugely expensive houses in Puley, cos it's just an average area:rotfl: Have you ever been there, by the way? No, of course you haven't........I don't know why I ask!:D You probably haven't even been to Central London!

Anyway, take a look at this house I've found for you. It has a fab cinema!! And a snooker table - big boys toys!! Bet you'd love that, eh? You'll need almost £5Million if you're interested, although it is a new property (these developers must be NUTS building such an expensive house in such an average aea:D They seem to think Purley is lovely and exclusive. I bet they'll kick themselves that they didn't come on here and your advice before building, Chewleg :rotfl:

Anyway let's see what it sells for shall we? Just for a bit of fun:j

breadlinebetty

Mrs_Imp wrote: »

To add another specific to the mix. My flat was on RM. I sold it for 28% less than it's original asking price.

I was overvalued to begin with, but we took a punt to see what would happen, then reduced it monthly until it sold.

I suspect it depends on the particular figures you look at for the statistics. Do you take the first listed asking price of the property, or the price it was listed at when it sold?

And as others have said, specifics don't show the general trend.

Let's take a looksie then!:D

Mrs_Imp

It was a while ago, so the listing is no-longer available. I have the original advertising leaflet if you want to see it, then the sold price can be checked on line.

We didn't believe the valuation, but decided it was worth a risk for a few weeks.

breadlinebetty

Mrs_Imp wrote: »

It was a while ago, so the listing is no-longer available. I have the original advertising leaflet if you want to see it, then the sold price can be checked on line.

We didn't believe the valuation, but decided it was worth a risk for a few weeks.

Yes, that would be interesting to see. You could also give us the address and we can check it online.....

When did you sell the property?

HAMISH_MCTAVISH

Rightmove provide a simple arithmetic mean average of initial asking prices for all houses on their site. It's not mix adjusted, it's not weight adjusted by region, it's not seasonally adjusted.

Halifax and nationwide do not provide an average house price at all. Never have, and never claimed to. They provide the price of a "typical" house, which is completely different to an average house price.

To try and compare the two is about as useful as comparing an elephant and a coffee table.

chewmylegoff

breadlinebetty wrote: »

Anyway let's see what it sells for shall we? Just for a bit of fun:j

ok, i can't wait. we'll meet back here when the price appears on the land registry sold prices data. maybe your posting ban will have been lifted by then, but i doubt it.

cwcw

chewmylegoff wrote: »

ok, i can't wait. we'll meet back here when the price appears on the land registry sold prices data. maybe your posting ban will have been lifted by then, but i doubt it.

What happened? I see my post trying to educate her has been removed as well. I guess at some point over night she didn't take too kindly to her education and lashed out in such a way that would lead to a ban?!

cwcw

breadlinebetty wrote: »

Here you are......I've found another house in the very average Purley for you, ChewLeg!:D

http://www.rightmove.co.uk/new-homes-for-sale/property-36020137.html

There's loads of hugely expensive houses in Puley, cos it's just an average area:rotfl: Have you ever been there, by the way? No, of course you haven't........I don't know why I ask!:D You probably haven't even been to Central London!

Anyway, take a look at this house I've found for you. It has a fab cinema!! And a snooker table - big boys toys!! Bet you'd love that, eh? You'll need almost £5Million if you're interested, although it is a new property (these developers must be NUTS building such an expensive house in such an average aea:D They seem to think Purley is lovely and exclusive. I bet they'll kick themselves that they didn't come on here and your advice before building, Chewleg :rotfl:

Anyway let's see what it sells for shall we? Just for a bit of fun:j

"Bla bla bla...... I'm considerably richer than YAU... bla bla bla bla....... where I live is perfect and obviously averages don't matter because only I do...... bla bla bla bla".

Fire_Fox

cwcw wrote: »

"Bla bla bla...... I'm considerably richer than YAU... bla bla bla bla....... where I live is perfect and obviously averages don't matter because only I do...... bla bla bla bla".

Posting Privileges Removed.