Anyone noticed "For Sale" residential discounting starting to happen?

Crashy_Time

MaryNB said:

Crashy_Time said:

MaryNB said:

ciderboy2009 said:

House sale prices are still rising here in Bristol - houses are tending to sale so quickly that you quite often don't get 'For Sale' boards - they just put up 'Sold' ones for the advertising!

Houses are going so fast in Bristol!

I've seen a lot of the pricier flats being heavily discounted though and still sitting on the market. Far too many so called "luxury flats" on the market. Same size as standard flats but you get shinier taps. 

https://www.rightmove.co.uk/property-for-sale/property-68402776.html

Tasty 40k price drop.

Probably because there are 3 beds in the area for the same price. 

Anyway, two can play at that game. Here are four houses I have specifically chosen purely to back up my statement. 
https://www.rightmove.co.uk/properties/74379777#/ SSTC, went on the market 3 days ago
https://www.rightmove.co.uk/properties/74231361#/ SSTC, went on the market 8 days ago
https://www.rightmove.co.uk/properties/98380745#/ SSTC, went on the market 9 days ago
https://www.rightmove.co.uk/properties/98068565#/ £765k SSTC went on the market 17 days ago

In all seriousness, my comment comes from checking rightmove for places in BS3 since April and watching houses in my saved list (ones I'm hoping will drop into my price range) quickly go SSTC. My comment regarding flats comes from my disdain for the luxury flat market.

Sales volumes have collapsed though? I don`t see them recovering well either if the economic crisis is a prolonged one.
https://www.plumplot.co.uk/Bristol-property-transactions.html

RelievedSheff

Is it really a surprise that sales volumes are down given that the country spent 3 months in lockdown?

grumiofoundation

Crashy_Time said:

MaryNB said:

Crashy_Time said:

MaryNB said:

ciderboy2009 said:

House sale prices are still rising here in Bristol - houses are tending to sale so quickly that you quite often don't get 'For Sale' boards - they just put up 'Sold' ones for the advertising!

Houses are going so fast in Bristol!

I've seen a lot of the pricier flats being heavily discounted though and still sitting on the market. Far too many so called "luxury flats" on the market. Same size as standard flats but you get shinier taps. 

https://www.rightmove.co.uk/property-for-sale/property-68402776.html

Tasty 40k price drop.

Probably because there are 3 beds in the area for the same price. 

Anyway, two can play at that game. Here are four houses I have specifically chosen purely to back up my statement. 
https://www.rightmove.co.uk/properties/74379777#/ SSTC, went on the market 3 days ago
https://www.rightmove.co.uk/properties/74231361#/ SSTC, went on the market 8 days ago
https://www.rightmove.co.uk/properties/98380745#/ SSTC, went on the market 9 days ago
https://www.rightmove.co.uk/properties/98068565#/ £765k SSTC went on the market 17 days ago

In all seriousness, my comment comes from checking rightmove for places in BS3 since April and watching houses in my saved list (ones I'm hoping will drop into my price range) quickly go SSTC. My comment regarding flats comes from my disdain for the luxury flat market.

Sales volumes have collapsed though? I don`t see them recovering well either if the economic crisis is a prolonged one.
https://www.plumplot.co.uk/Bristol-property-transactions.html

It’s almost like the property market is not homogenous. 

To be fair any remotely rational person is well aware of that anyway. 

Crashy_Time

grumiofoundation said:

Crashy_Time said:

MaryNB said:

Crashy_Time said:

MaryNB said:

ciderboy2009 said:

House sale prices are still rising here in Bristol - houses are tending to sale so quickly that you quite often don't get 'For Sale' boards - they just put up 'Sold' ones for the advertising!

Houses are going so fast in Bristol!

I've seen a lot of the pricier flats being heavily discounted though and still sitting on the market. Far too many so called "luxury flats" on the market. Same size as standard flats but you get shinier taps. 

https://www.rightmove.co.uk/property-for-sale/property-68402776.html

Tasty 40k price drop.

Probably because there are 3 beds in the area for the same price. 

Anyway, two can play at that game. Here are four houses I have specifically chosen purely to back up my statement. 
https://www.rightmove.co.uk/properties/74379777#/ SSTC, went on the market 3 days ago
https://www.rightmove.co.uk/properties/74231361#/ SSTC, went on the market 8 days ago
https://www.rightmove.co.uk/properties/98380745#/ SSTC, went on the market 9 days ago
https://www.rightmove.co.uk/properties/98068565#/ £765k SSTC went on the market 17 days ago

In all seriousness, my comment comes from checking rightmove for places in BS3 since April and watching houses in my saved list (ones I'm hoping will drop into my price range) quickly go SSTC. My comment regarding flats comes from my disdain for the luxury flat market.

Sales volumes have collapsed though? I don`t see them recovering well either if the economic crisis is a prolonged one.
https://www.plumplot.co.uk/Bristol-property-transactions.html

It’s almost like the property market is not homogenous. 

To be fair any remotely rational person is well aware of that anyway. 

Sales volumes have collapsed everywhere though?

Crashy_Time

RelievedSheff said:

Is it really a surprise that sales volumes are down given that the country spent 3 months in lockdown?

They fell to less than half the level they collapsed to in 2008, the worst previous drop in sales probably on record? My point was that this crisis is of a much worse magnitude, especially if it is prolonged, and especially when the real economic consequences kick in (but you knew that already didn`t you? LOL.)

grumiofoundation

Crashy_Time said:

grumiofoundation said:

Crashy_Time said:

MaryNB said:

Crashy_Time said:

MaryNB said:

ciderboy2009 said:

House sale prices are still rising here in Bristol - houses are tending to sale so quickly that you quite often don't get 'For Sale' boards - they just put up 'Sold' ones for the advertising!

Houses are going so fast in Bristol!

I've seen a lot of the pricier flats being heavily discounted though and still sitting on the market. Far too many so called "luxury flats" on the market. Same size as standard flats but you get shinier taps. 

https://www.rightmove.co.uk/property-for-sale/property-68402776.html

Tasty 40k price drop.

Probably because there are 3 beds in the area for the same price. 

Anyway, two can play at that game. Here are four houses I have specifically chosen purely to back up my statement. 
https://www.rightmove.co.uk/properties/74379777#/ SSTC, went on the market 3 days ago
https://www.rightmove.co.uk/properties/74231361#/ SSTC, went on the market 8 days ago
https://www.rightmove.co.uk/properties/98380745#/ SSTC, went on the market 9 days ago
https://www.rightmove.co.uk/properties/98068565#/ £765k SSTC went on the market 17 days ago

In all seriousness, my comment comes from checking rightmove for places in BS3 since April and watching houses in my saved list (ones I'm hoping will drop into my price range) quickly go SSTC. My comment regarding flats comes from my disdain for the luxury flat market.

Sales volumes have collapsed though? I don`t see them recovering well either if the economic crisis is a prolonged one.
https://www.plumplot.co.uk/Bristol-property-transactions.html

It’s almost like the property market is not homogenous. 

To be fair any remotely rational person is well aware of that anyway. 

Sales volumes have collapsed everywhere though?

Well I did say rational didn't I...

Greymug

Similar depressing situation in Edinburgh, Scotland.

Flats in the city centre used to be gone quickly, they'd be sold on a "offers over" system and the bidding war would lead to a selling price on average 15% over home report valuation. Now the city centre is flooded with flats for sale; they stay for sale for weeks/even months and with progressively lower prices.

On the other hand, houses in the outskirts are still going fast and at high prices. People want space and are moving out of the city as fast as they can.

Rental market is just as depressing: a lot of ex airbnb flats have flooded the rental market, driving prices down. So also buy-to-let has become a bad investment.

Crashy_Time

grumiofoundation said:

Crashy_Time said:

grumiofoundation said:

Crashy_Time said:

MaryNB said:

Crashy_Time said:

MaryNB said:

ciderboy2009 said:

House sale prices are still rising here in Bristol - houses are tending to sale so quickly that you quite often don't get 'For Sale' boards - they just put up 'Sold' ones for the advertising!

Houses are going so fast in Bristol!

I've seen a lot of the pricier flats being heavily discounted though and still sitting on the market. Far too many so called "luxury flats" on the market. Same size as standard flats but you get shinier taps. 

https://www.rightmove.co.uk/property-for-sale/property-68402776.html

Tasty 40k price drop.

Probably because there are 3 beds in the area for the same price. 

Anyway, two can play at that game. Here are four houses I have specifically chosen purely to back up my statement. 
https://www.rightmove.co.uk/properties/74379777#/ SSTC, went on the market 3 days ago
https://www.rightmove.co.uk/properties/74231361#/ SSTC, went on the market 8 days ago
https://www.rightmove.co.uk/properties/98380745#/ SSTC, went on the market 9 days ago
https://www.rightmove.co.uk/properties/98068565#/ £765k SSTC went on the market 17 days ago

In all seriousness, my comment comes from checking rightmove for places in BS3 since April and watching houses in my saved list (ones I'm hoping will drop into my price range) quickly go SSTC. My comment regarding flats comes from my disdain for the luxury flat market.

Sales volumes have collapsed though? I don`t see them recovering well either if the economic crisis is a prolonged one.
https://www.plumplot.co.uk/Bristol-property-transactions.html

It’s almost like the property market is not homogenous. 

To be fair any remotely rational person is well aware of that anyway. 

Sales volumes have collapsed everywhere though?

Well I did say rational didn't I...

I`m starting to think your dictionary may be faulty?

Crashy_Time

Greymug said:

Similar depressing situation in Edinburgh, Scotland.

Flats in the city centre used to be gone quickly, they'd be sold on a "offers over" system and the bidding war would lead to a selling price on average 15% over home report valuation. Now the city centre is flooded with flats for sale; they stay for sale for weeks/even months and with progressively lower prices.

On the other hand, houses in the outskirts are still going fast and at high prices. People want space and are moving out of the city as fast as they can.

Rental market is just as depressing: a lot of ex airbnb flats have flooded the rental market, driving prices down. So also buy-to-let has become a bad investment.

Depressing? I`m sure hard working key workers and money saving strivers who know you are just as safe from Covid in a cosy flat in the town as out in a field in Dalkeith or somewhere are devastated that mug punters no longer have enough bank credits to start "bidding wars", LOL.

Thrugelmir

RelievedSheff said:

Is it really a surprise that sales volumes are down given that the country spent 3 months in lockdown?

The impact on jobs and incomes is minimal?