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Debate House Prices
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UK annual house price growth lowest since June 2013
Comments
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I was commenting on someone else's data analysis rather than agreeing that Rightmove is the arbiter of the status of a house.
If Jacko is concluding the majority of houses aren't shifting because 23 out of 72 are still available for sale after 8 months that's a conclusion that's likely wrong. Maybe there will be some follow up analysis to determine whether the real majority were sold or withdrawn.
Your house went from available to unavailable - I'd conclude it was sold or withdrawn from sale. There aren't any other variables.
sorry I got it into my head that you had said the large majority were not selling, But you were replying to Jacko74, who was the person my comment really was directed at, As Jacko74 was the one who used advert data to imply something about sales.
My apologies.0 -
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Please do expand on your conclusion that, when 57 out 72 properties have failed to sell that suggests that properties 'aren't hanging around'
If you know they've failed to sell because you've checked on Land Reg then fair enough.
If you think not being on Rightmove anymore is indicative of them not selling that's more about what you wish to be true.0 -
If you know they've failed to sell because you've checked on Land Reg then fair enough.
If you think not being on Rightmove anymore is indicative of them not selling that's more about what you wish to be true.
Due to my job I am aware of or can obtain information on the occupation status of just about every property in my search area.
Out of the 34 withdrawn from the market-
2 were sold privately (one for 25% below original asking price)
4 were rented out
28 are still owned/occupied by the original vendor.0 -
Due to my job I am aware of or can obtain information on the occupation status of just about every property in my search area.
Out of the 34 withdrawn from the market-
2 were sold privately (one for 25% below original asking price)
4 were rented out
28 are still owned/occupied by the original vendor.
If that's the case you'd need to check a similar list of 82 properties for the same 8 month period last year because you're concluding buyers aren't getting the price they want and this is indicative of 'something'.
The other possible conclusion is that kite flying is entirely normal behaviour and indicative of nothing. You know this of course.
Jan 2015I'm currently looking to buy on Anglesey where there are plenty of deluded sellers... and a great deal of them have actually RAISED their asking prices in the 2-3 years that their properties have been sat on the market!
Nov 2014It's ironic really... when I was selling my last property I was ranting about the deluded, time wasting viewers, now I'm looking to buy I'm realizing there are also plenty of deluded time wasting 'sellers' out there!
May 2014The dark blue in my particular area of Derbyshire certainly seems accurate... even properties that are currently sensibly priced (at 10%-15% below 2006 prices) are still hanging around on the market for 18 months or longer.0 -
If that's the case you'd need to check a similar list of 82 properties for the same 8 month period last year because you're concluding buyers aren't getting the price they want and this is indicative of 'something'.
The other possible conclusion is that kite flying is entirely normal behaviour and indicative of nothing. You know this of course.
Jan 2015
Nov 2014
May 2014
Sorry for being a bit thick but I can't really understand the point you're trying to make? I assume you meant to say sellers aren't getting the price they want?
I do agree that kite flying OR deluded vendors (there is a difference between the two) is the norm in my area, as proved by the high numbers of properties that are brought to market then withdrawn without achieving a sale. I wouldn't know if these figures are reflected nationwide.
(You can disregard any previous comments re. Anglesey, that is no longer my search area, I was looking to purchase a holiday home there until I decided to invest my money elsewhere)0 -
Sorry for being a bit thick but I can't really understand the point you're trying to make? I assume you meant to say sellers aren't getting the price they want?
I do agree that kite flying OR deluded vendors (there is a difference between the two) is the norm in my area, as proved by the high numbers of properties that are brought to market then withdrawn without achieving a sale. I wouldn't know if these figures are reflected nationwide.
(You can disregard any previous comments re. Anglesey, that is no longer my search area, I was looking to purchase a holiday home there until I decided to invest my money elsewhere)
The point is the market is made up of houses that buy and sell. People marketing their house for a price that will never sell aren't part of the market. This type of house can always be found on sales sites so finding them yesterday, today and tomorrow is indicative of nothing. Why add them to a shortlist?
Recent history suggests vendors would rather stay put than sell their house for less than they think it's worth regardless of what it might really be worth.
You won't buy a house which you think is too expensive and you can't buy a house which isn't for sale. Do you like any of the other 23?0 -
Ah I see you're point now Wotsthat... and I suppose it is a fair point, that people who put their houses up for sale at stupid prices can't actually be classed as part of 'the market'
It still doesn't make it any less frustrating that they waste everyone's time and encourage other equally deluded people to follow suit.
The only reason I've added these overpriced ones to my saved list is in the rather misguided hope that they might at some point start to act rationally and reduce their asking price to something a little more sensible.0 -
Ah I see you're point now Wotsthat... and I suppose it is a fair point, that people who put their houses up for sale at stupid prices can't actually be classed as part of 'the market'
It still doesn't make it any less frustrating that they waste everyone's time and encourage other equally deluded people to follow suit.
The only reason I've added these overpriced ones to my saved list is in the rather misguided hope that they might at some point start to act rationally and reduce their asking price to something a little more sensible.
Kite flying is a powerful trick to increase prices. It's done in the art world to great effect. The art market goes one further and some astute kite flyers buy their own kites.
Diamond encrusted skull anyone ?Proudly voted remain. A global union of countries is the only way to commit global capital to the rule of law.0
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