Houses listed higher than ever?

BikingBud

Alderbank said:

BobT36 said:

BikingBud said:

peter3hg said:

I find this property listing fascinating.
https://www.rightmove.co.uk/properties/113048279

Originally listed at £325k in September 2021.
Put up to £335k 7 months later in April 2022.
Reduced back down to £325k in August 2022.
Increased to £330k in December 2022.
Increased to £335k this week.

I just don't understand the logic. If they couldn't sell it with the market how it was in late 2021/early 2022 then clearly it was overpriced but presumably the owners don't accept that.
I imagine a normal estate agent wouldn't want to keep it on their books so long as it doesn't exactly give a good impression, but it is Purple Bricks.

Nice to have decking so you can sit nearer to the train line, must make the glass of vino after a hard day all the more soothing!

LOL, leasehold as well. Tiny, too. 

Wow that history though, bonkers! How do they think they'll get more now than they would have at the peak?? Absolutely delusional. 
Growing up, I thought I'd be paying around £180k for a luxurious top-end detached (in the north). 

...but were you looking in the 'Golden Triangle' of York, Harrogate and Wetherby?
It's been called the Golden Triangle for a long time and for a reason.

That house in Meyrick Ave might need a lick of paint or two but it's not far from Linton Lane where the average house price is in excess of £1million!

Is the "Golden Triangle" influenced by the rhubarb triangle?

Irrespective, it's not on  Linton Lane whatever benefit that may be perceived to have, it is also close to Wetherby Prison does that count? And it's still backing onto the A1M.

ETA just found Linton Lane and it is out on the other, West side of Wetherby so any perceived benefit has just been diminished significantly.

ETA2 - Having a look at recent behaviour along the lane it is no wonder people are "aspirational":

https://www.rightmove.co.uk/house-prices/details/england-120507266-15908902?s=3dcee0e90ef5ebcbba9b6a62e5aacaa14729136cd153873bd70cf963edd6cf2a#/

46% uplift between Aug 21 and Jul 22

MobileSaver

spoovy said:

BobT36 said:

 Whew. I wonder what the wages are like around there?..

In my experience "wages" has got nothing to do with it. Everyone I've ever known who owns a very expensive house was either gifted a large sum (or several) and/or inherited one (or several), and then leveraged their good fortune in some way

My experience is pretty much the opposite; with a few exceptions everyone I know who now owns an expensive house started with nothing and had little if any financial help from family.

lookstraightahead

MobileSaver said:

spoovy said:

BobT36 said:

 Whew. I wonder what the wages are like around there?..

In my experience "wages" has got nothing to do with it. Everyone I've ever known who owns a very expensive house was either gifted a large sum (or several) and/or inherited one (or several), and then leveraged their good fortune in some way

My experience is pretty much the opposite; with a few exceptions everyone I know who now owns an expensive house started with nothing and had little if any financial help from family.

Agree with the above.

RelievedSheff

MobileSaver said:

spoovy said:

BobT36 said:

 Whew. I wonder what the wages are like around there?..

In my experience "wages" has got nothing to do with it. Everyone I've ever known who owns a very expensive house was either gifted a large sum (or several) and/or inherited one (or several), and then leveraged their good fortune in some way

My experience is pretty much the opposite; with a few exceptions everyone I know who now owns an expensive house started with nothing and had little if any financial help from family.

We know a mixed bag. About half inherited and half grafted for. 

Not sure the relevance to the housing market really. The money is the same and has the same value however it has been gained.

tooldle

lookstraightahead said:

MobileSaver said:

spoovy said:

BobT36 said:

 Whew. I wonder what the wages are like around there?..

In my experience "wages" has got nothing to do with it. Everyone I've ever known who owns a very expensive house was either gifted a large sum (or several) and/or inherited one (or several), and then leveraged their good fortune in some way

My experience is pretty much the opposite; with a few exceptions everyone I know who now owns an expensive house started with nothing and had little if any financial help from family.

Agree with the above.

Me too. We only know of one person who inherited and used it as a house deposit. No gifted deposits either. 

Sarah1Mitty2

ThisIsWeird said:

I'm guessing, but of the two things that typically makes prices go up - high demand and a lack of properties - I suspect the latter might be at play there?

But I don't know.

The third and most important is cost of borrowing, and as that has changed dramatically recently that could explain why the overpriced stuff just doesn`t sell any more?

Gavin83

spoovy said:

BobT36 said:

 Whew. I wonder what the wages are like around there?..

In my experience "wages" has got nothing to do with it. Everyone I've ever known who owns a very expensive house was either gifted a large sum (or several) and/or inherited one (or several), and then leveraged their good fortune in some way to make even more (usually by buying other property and watching the value skyrocket).

I know a number of people who own expensive houses or alternatively a number of houses (with some rented out) which adds up to a fair amount of value. I know of one person in their 30s who owns a large house mortgage free because they were gifted enough for a decent deposit at 19, bought a flat in a rough area in London, which then became gentrified and therefore the price skyrocketed.

Of the others I know who own good property they've earned the money themselves. One of my friends is a self made multi millionaire (in his 30s, now retired) and I know several people who earn well into 6 figure salaries. This kind of wealth affords them the option of buying good property.