'We've reached a tipping point' Signs of house price weakness

Bubble_and_Squeak

AndyGuil wrote: »

Actual sold prices are in a league of their own with regards to accuracy.

the time lag factor distorts their accuracy though
as does parents selling property on the cheap to their children and stamp duty avoiding back handers

Bubble_and_Squeak

ukcarper wrote: »

No you didn't the houses were not the same. A house has just come on market in my road and it is £50k more than last asking prices.

got a link?
i'm taking march, april, may as the peak
most houses that come on for above those prices are cut to below them with a couple of weeks

Bubble_and_Squeak

Joeskeppi wrote: »

Ignoring your miniscule sample size and the fact that anyone could find 20 sstc properties that have gone under offer for more than any others on the road in 3 minutes...

This doesn't mean that average sold prices will fall.

If I sell 4 apples for £1 on Monday.
And 1 apple for £2 on Tuesday.
And 1 apple for £1.50 on Wednesday.

Are average sold prices going up or down on Wednesday?

nice riddle!
doesn't change the fact that houses selling for less today than at the peak

Bubble_and_Squeak

Jack_Johnson_the_acorn wrote: »

Said no one EVER!

i know i know
i was mucking abah'

AndyGuil

Bubble_and_Squeak wrote: »

nice riddle!
doesn't change the fact that houses selling for less today than at the peak

Except they aren't. Sold prices are on the up.

AndyGuil

Bubble_and_Squeak wrote: »

the time lag factor distorts their accuracy though
as does parents selling property on the cheap to their children and stamp duty avoiding back handers

Until they are sold they at just asking prices. Asking prices are highly volatile and include a lot of people testing the market. The sold prices represent the real world and show increasing prices.

Bubble_and_Squeak

AndyGuil wrote: »

Except they aren't. Sold prices are on the up.

WERE on the up

Bubble_and_Squeak

AndyGuil wrote: »

Until they are sold they at just asking prices. Asking prices are highly volatile and include a lot of people testing the market. The sold prices represent the real world and show increasing prices.

sold prices tend to be lower than asking prices
asking prices are lower than sold prices were at the peak

AndyGuil

Bubble_and_Squeak wrote: »

sold prices tend to be lower than asking prices
asking prices are lower than sold prices were at the peak

No they aren't. Asking prices are more than current selling prices.

UK 270k vs £170k
London £510k vs £437k

chucknorris

Bubble_and_Squeak wrote: »

sold prices tend to be lower than asking prices
asking prices are lower than sold prices were at the peak

There will always be fluctuations, what matters to me is how much profit I make when I sell. I will not sell if the market isn't where I want it to be, and probably not for another 10-15 years anyway, so there isn't any point in getting excited about what the current asking prices are.