House prices drop 0.6% in September

Woby_Tide

dannyboycey wrote: »

88.2% of statistics are made up on the spot.

yet 99.4% of them are taken as gospel as long as they back up the point trying to be made

Christal_2

Not sure if anyone knows the website propertysnake.com? It's a site that shows you which property in your area has reduced in price recently. When I started checking early last month, if I type in postcodes of my area, there were only 1 page of properties price has been reduced, now it has come to 6 pages!

merlinthehappypig

I think it's going to be a few months at least before the true picture emerges, especially post Northern Rock.

For what it is worth I have looked back on the property pages from my local paper for August, September and October.

Early August there were 11 houses marked as 'new price'. This rose to 21 in early September and to 52 in early October. In addition there are 11 marked as 'unexpectly back on the market' in October.

Hardly scientific I know, but it does indicate that asking prices in my area are reducing. How this will pan out in actual prices obtained is anyone's guess, but the days of thinking up a figure and doubling it seem to be gone. I'm in a very expensive area with traditionally strong growth as well.

Having been considering buying again due to family circumstances, we have noticed a big difference in EA's attitudes. We didn't get followed up at all to any viewings in August/early September. Viewings post Northern Rock, we have been followed up every time, even getting further calls when we have said no to a house.