Right now - What is happening in your area?

dattasatta

Hi,
I live in Cheshire and the prices don't show any signs of slowing down yet!!

However there doesn't seem to be a whole lot of 2nd time buyers at the moment.

We are lucky as the area that we live in is one of the cheapest in Cheshire, but I can't see that being for long!!!!

We are just in the middle of moving to a 3 bed semi for a knock down price so hopefully when we come to sell we shall have quite a bit of equity (fingers crossed)

h_roberts

From the 4-bed detached South Cheshire viewpoint — mine's been up on t'net for a while, still waiting for a solid bite out of the otherwise timewasters. Others in the same bracket (not in the immediate area) seem to be sticking also.
The mass appeal boxes still shift fast, though.
Prices? Difficult to judge, as I tend to look only at the one-off types. Probably holding steady?
Now rentals ——— wow! They're changing hands so fast it's like watching a card-sharp!

Plan-B_3

Hi all,

I'm near ashford kent, with a house price 3mths a go nearing £380000 bracket. (verified by independent surveyor)
Have had house on market for 3mths, had two surveys done by independent surveyors and the house has been reduced by £20/30K!!!!!!.For No real reason other than it has been on the market for 3mths!!It seems that the goverment and the bank have done what they wanted to do and killed the housing market! ( and the surveyors are in on it) House selling in this area and surrounding is coming to a standstill. This part of the south east is really struggling and there are still mass housing estates being built!

wecanhelpu

Plan-B wrote: »

Hi all,

I'm near ashford kent, with a house price 3mths a go nearing £380000 bracket. (verified by independent surveyor)
Have had house on market for 3mths, had two surveys done by independent surveyors and the house has been reduced by £20/30K!!!!!!.For No real reason other than it has been on the market for 3mths!!It seems that the goverment and the bank have done what they wanted to do and killed the housing market! ( and the surveyors are in on it) House selling in this area and surrounding is coming to a standstill. This part of the south east is really struggling and there are still mass housing estates being built!

If it's been on the market for 3 months and not selling, prehaps the "real reason" is that the house is overvalued.

How much did you pay for the house, and when?

Plan-B_3

Not the only one in this situation! it is becoming more widespread around this area.

Yes you can always except a reduction/ increase in the actual agreed sale price as an estate agent valuation of the property is only a estimated guideline, I usually work by a 5-15K variation on the estate agent valuation is a good guide.
but not 20-30K and with 3 seperate valuations paid for showing the drop?
Houses in this price bracket can sometimes take longer to sell due to the size of mortgage/ deposit required to buy at this price. So three months is not unusual. But where does it say that if your house has been on the market for 3mths+ that it should be devalued by 20/30K, if that is the case, then wouldn't it stop a lot of people from putting their houses up for sale in the fear of severe devaluation of their property?
I can understand your point but i feel i have to much evidence now to back my statement that their is a real problem with the housing market in my area

wecanhelpu

Yes. It's called a slowdown.

The days of massive HPI are over.

I assume your method of "5-15k variation" (wherever that comes from) only applies when things are slow.

If we were still in a fast moving, rising market you would be happy with the value of 20-30K above the estate agents valuation.

It cuts both ways you know and you and many people like you will have to get used to the changing conditions.

Malky

Prices still rocketing in Aberdeen. Few properties for sale but still plenty buyers hence the prices being pushed up.
An average three bed house is going for approx 20% over the offers over price whereas one and two bed flats are going for 40% or more over the offers over price.
In the first three months of the year, house prices went up on average 18%. The last few months have still seen an increase of a couple of percent per month.

Plan-B_3

of course i would be happy with a value of 20-30k above the marketed price!! wouldn't anybody??

My point is that the bank and goverment have done what they set out to do and instead of gradually slowing the housing market down, they have stopped it dead!! i do not agree with yet again another rise in interest rates as we have not seen the full implications of the previous rises yet, people are not being given enough time to recover and re arrange their finance before being hit again. It is a very fine line the bank and goverment are playing with and potentially crossing over that line could send us spiralling in to a serious economic downfall. I'm sure you would not be pleased if it was yourself in the situation of selling your property,believing you have a good conservative idea of what your house should be worth, and then suddnley finding out it is worth up to £30K less!!

lynzpower

Plan-B wrote: »

of course i would be happy with a value of 20-30k above the marketed price!! wouldn't anybody??

My point is that the bank and goverment have done what they set out to do and instead of gradually slowing the housing market down, they have stopped it dead!! i do not agree with yet again another rise in interest rates as we have not seen the full implications of the previous rises yet, people are not being given enough time to recover and re arrange their finance before being hit again. It is a very fine line the bank and goverment are playing with and potentially crossing over that line could send us spiralling in to a serious economic downfall. I'm sure you would not be pleased if it was yourself in the situation of selling your property,believing you have a good conservative idea of what your house should be worth, and then suddnley finding out it is worth up to £30K less!!

With respect mate, the only person who can truly tell you what your property is worth is the person who buys it ( in tandem with a surveyor)

Until you have a buyer your house is worth diddly squat.

rizla01

It is often a mis-conception that lowering the price will help the sale.
Sometimes it is simply that the right person has not seen your property.

A better ploy is to take it off the market for 3 months if you can, and then re-market it.

The magic word, though, is de-clutter!! Move out in your mind and see the property as someone elses - Not Yours!

anyway, interesting results so far.

Properties around Essex are sticking and lower offers are going in but there are also, fewer buyers.