Estate agent Haart shows drop of 14% in south-west London in November

danothy

Bubble_and_Squeak wrote: »

lets see if it actually sells before we start saying its a realistic price

I didn't comment on whether or not this was a realistic price for that property, I said that it isn't a crash if a price drops to an all time high sale price from an even higher asking price.

Crashy_Time

danothy wrote: »

I didn't comment on whether or not this was a realistic price for that property, I said that it isn't a crash if a price drops to an all time high sale price from an even higher asking price.

No, not for this property, but it shows that something
has shifted in the all important SENTIMENT department?

danothy

Crashy_Time wrote: »

No, not for this property, but it shows that something
has shifted in the all important SENTIMENT department?

So after the last sale on that street (of a semi-detached house) all of four months ago 'SENTIMENT' lurched up so much that people thought they could add 30% to their properties asking prices (and think they could get it) and since then this 'SENTIMENT' has been shifting back down and is almost back to where it was? Let's give that notion the benefit of the doubt ... why does that mean that this 'SENTIMENT' will keep on sliding down past where the initial lurch upwards started from?

System

Almost feels like an enormous penny has dropped for the resident morons on why asking price reductions don't matter.

mayonnaise

danothy wrote: »

Let's put this in context. The blue points are the actual sale prices for semi-detached houses on Valley Road since 1995. The red points are the asking prices for the property you have detailed above. Massive reduction from the initial asking price indeed ...

"Look at the red dots!" :rotfl:

wotsthat

Bubble_and_Squeak wrote: »

lets see if it actually sells before we start saying its a realistic price

You've just been spoon fed an analysis tailored to your very own target area. It shows the absolute folly of trying to demonstrate the direction of a market by using property bee to list the asking prices of single properties.

Despite that you're still doing it. The asking price of this single property tells you a little about the vendor's strategy but nothing about the market.

I'm unsurprised this keeps going over your head.

System

If I listed a £100k house for £1m and then reduced it to £200k I suspect you'd be able to hear the collective sound of hpc members messing themselves in excitement.

"omg m8s house prices down 80% in a week" *splurge*

Crashy_Time

Joeskeppi wrote: »

Almost feels like an enormous penny has dropped for the resident morons on why asking price reductions don't matter.

Were there asking price reductions a year ago?

System

Crashy_Time wrote: »

Were there asking price reductions a year ago?

Yes, your thread on HPC has been full of them since Jan last year. :laugh:

There were asking price reductions even in early 2007. Always was and always will be.

Crashy_Time

Joeskeppi wrote: »

Yes, your thread on HPC has been full of them since Jan last year. :laugh:

There were asking price reductions even in early 2007. Always was and always will be.

So the % of price reductions hasn`t escalated lately?