luton house prices

Mallotum_X

rosie383 wrote: »

I have seen a lot SSTC literally within days of coming on the market, and the EA themselves have told us that there is huge competition between them all for houses as they are being snapped up by mainly Londoners within hours of coming on the market.

Thanks for posting the link about Claire.

A friend of a friend works with one of the small independent agents (more a lettings place that does a few sales) in Luton and he was saying the same, that the small guys are finding it harder to get the houses to sell as Taylors, Conells and Haart in particular are giving much higher valuations. But it seems in part they are getting the prices on the better properties in the good areas.

He was saying the London buyers are tending to offer the asking price as by comparison to London prices the Luton prices are still pretty good value, but that was making it harder for the local buyers. Seems to stack up with what they are telling you.

rosie383

That's exactly it. We can't compete. Honestly I blame Haart in particular as they were the ones who were inflating the prices in the first place. Obviously houses are only worth what people are prepared to pay for them, but Haart made a big deal to us that they would be very actively marketing Luton properties in London. As a vendor that sounded great, unfortunately as a buyer it's a right PITA.
I understand why they are doing it. And if we were selling again now it would be fine.
I am so disgusted at three different EAs trying to persuade us to drop our buyer and re-market with them to get more money. I know that it would make financial sense, but TBH my conscience wouldn't let me.
I just really, really hope that we don't lose the house we are buying.

movilogo

I listed my house and got asking price offer on same day. One guy offered more than asking price but his finance sounded dodgy so I went with who offered full price first and was vetted by EA. Fingers crossed.

rosie383

Well done Movilogo. For you, it's great, and I hope it all goes through to completion.

Mallotum_X

movilogo wrote: »

I listed my house and got asking price offer on same day. One guy offered more than asking price but his finance sounded dodgy so I went with who offered full price first and was vetted by EA. Fingers crossed.

Well done.

Without giving away too much, which area and price were you at?

Asking price on 1 day is pretty good going. Bet you wished you had asked more now

ethank

I sold in Leagrave in August 2013 - It took me 5 months to get a reasonable offer from someone with an AIP for my flat. It seemed everyone wanted to buy but noone could get a mortgage or they could not get a mortgage for the price of my property.

Property is flying. My sister has bought two months ago at the new development in Stopsley. They have increased the prices by 35k since she bought!

rosie383

Even a year ago things were very different. It is so frustrating to be trying to buy just at the moment that prices are shooting up weekly. We can't turn the clock back and it doesn't help to say 'what if?' so we have to be content and desperately hope that our vendors don't pull out of the sale.

Hoploz

In a way though Rosie if the market is that fast you would be better off if they did pull out. You'd get a new price from a new buyer! I think that's why my buyer held on for 6 months last year. He'd never have got anything near it by the time we found and could proceed

Glover1862

I think BTL is making a big difference, anything sub £200k is shifting and BTL with ready cash makes an easy sale. With rents being low relative to London and surrounding areas and with scope to move up, luton makes a good investment.

rosie383

I think our buyer will hold on as they would be hard pressed to find anything for the price we accepted. It's the vendor of the one that we are buying that I'm worried about..