Properties with the biggest drops in prices

saguk1234

Properties prices seem to be tumbling especially in London.

http://www.rightmove.co.uk/property-for-sale/property-45716785.html

Anyone got anymore examples?

(You need to install Property Bee addon to see price drops in Rightmove)

AndyGuil

saguk1234 wrote: »

Properties prices seem to be tumbling especially in London.

http://www.rightmove.co.uk/property-for-sale/property-45716785.html

Anyone got anymore examples?

(You need to install Property Bee addon to see price drops in Rightmove)

No they're not.

The report, issued by estate agency group LSL Property Services and research firm Acadata, stated that, following a "temporary waning" of growth in the capital's market, the average London house saw 2% – or almost £11,000 – added to its value in June alone.

http://www.theguardian.com/business/2014/aug/08/housing-london-jump-19-per-cent-year

Plus all the rest of the market measures inc. Land registry that show the market is A. Rising and B. Following normal annual cycles that always slow down a bit in the summer.

System

Has there ever been a point in time when asking prices aren't generally reduced during the time a property is on the market?

saguk1234

Examples only please!

khards

Joeskeppi wrote: »

Has there ever been a point in time when asking prices aren't generally reduced during the time a property is on the market?

I recall in 2001 to 2004 when prices were rising asking prices were going up during the months a property sat on the market and if it was overpriced, then eventually house price inflation would catch up with the askign price.
that strategy hasn't worked for the est part of a decade, with the small exception of London in the last 2 years. But then the London market is a small frascion of the whole UK market, it would be like lookking at New Youk then predicting prices in Buffalow were rising.

Thrugelmir

saguk1234 wrote: »

Properties prices seem to be tumbling especially in London.

http://www.rightmove.co.uk/property-for-sale/property-45716785.html

Anyone got anymore examples?

(You need to install Property Bee addon to see price drops in Rightmove)

You can buy 2 very similar properties for the price of that one round here in ok areas. That price is totally mad.

saguk1234

And its a craphole. That's London prices for you though!

System

khards wrote: »

I recall in 2001 to 2004 when prices were rising asking prices were going up during the months a property sat on the market and if it was overpriced, then eventually house price inflation would catch up with the askign price.
that strategy hasn't worked for the est part of a decade, with the small exception of London in the last 2 years. But then the London market is a small frascion of the whole UK market, it would be like lookking at New Youk then predicting prices in Buffalow were rising.

Ah interesting. I wouldn't be massively shocked if it happened a lot in 2006/7 as well. But still, even then a lot of property would be getting reductions as well. As someone who has sold property in the past, most people are going to set a flyer price to start with and hope they get lucky. Everyone overvalues their own home.

My wife's great aunt sold her house in London for 1.5 million last week, it was listed at 1.75 million for the first week, dropped, and sold a few days later.

While obviously a pretty blunt sales technique, at least it gives someone something to post on the internet.

Thrugelmir

saguk1234 wrote: »

Examples only please!

I've never paid asking price always under.......

Jack_Johnson_the_acorn

Ive seen some pretty hefty price increases recently.... But anecdotal evidence is useless either way, better off sticking with reliable statistical data.

HAMISH_MCTAVISH

following a "temporary waning" of growth in the capital's market, the average London house saw 2% – or almost £11,000 – added to its value in June alone.

http://www.theguardian.com/business/...-per-cent-year

Wow...

That's a big increase.

So actual sale prices are still soaring.

Looks like the bears are having trouble understanding the difference between asking and selling prices again.