House not selling

Herzlos

I'm telling you that rates are currently on the way down, and that your banging on about a pending crash is both wrong and tedious.

I can't predict the future any more than you can, except for the whole 20+ year doom that's just about to happen.

"Selling at a loss has everything to do with how much new buyers can borrow."

No. Selling at a loss is purely a trade off between taking a low offer and waiting for a higher offer. It's unlikely to be capped at a new buyers maximum price, because plenty of new buyers can afford £150k.

It's getting views, which indicates the price isn't that far out of bounds (assuming the EA is checking people can proceed), and thus something else is putting them off. It's interesting that a lot of houses in the area aren't selling either. That *would* point to the economy/market, but I'd expect that to be more the case for a property that's out of range of all new buyers, say in the £400k range.

ReadySteadyPop

Herzlos said:

I'm telling you that rates are currently on the way down, and that your banging on about a pending crash is both wrong and tedious.

I can't predict the future any more than you can, except for the whole 20+ year doom that's just about to happen.

"Selling at a loss has everything to do with how much new buyers can borrow."

No. Selling at a loss is purely a trade off between taking a low offer and waiting for a higher offer. It's unlikely to be capped at a new buyers maximum price, because plenty of new buyers can afford £150k.

It's getting views, which indicates the price isn't that far out of bounds (assuming the EA is checking people can proceed), and thus something else is putting them off. It's interesting that a lot of houses in the area aren't selling either. That *would* point to the economy/market, but I'd expect that to be more the case for a property that's out of range of all new buyers, say in the £400k range.

Sales and demand are down across the whole market, hence the reason to price smart, better than the competition.

ReadySteadyPop

Exodi said:

The selling price is dictated by what someone will pay for the house and has no correlation to the outstanding mortgage.

I'd also be careful of not falling into an inverse form of survivorship bias by looking at other houses that have not sold - what would be useful is comparing yourself to the properties that are SSTC or have sold.

There are overpriced houses on my street that have been for sale over a year - and simultaneously there have been houses up and sold within a month. Really that depends on the seller more than the buyer.

This is common all over the UK now

https://thenegotiator.co.uk/news/uk-housing-market-news/report-uk-worst-property-transaction-fall-through-rates/

Is this an April fools joke or a good idea?

https://propertyindustryeye.com/eye-exclusive-sellers-and-buyers-to-be-charged-for-pulling-out-of-deals/

5% or 2.5% might be more realistic, would certainly make buyers consider their offers more carefully though?

MeteredOut

ReadySteadyPop said:

Exodi said:

The selling price is dictated by what someone will pay for the house and has no correlation to the outstanding mortgage.

I'd also be careful of not falling into an inverse form of survivorship bias by looking at other houses that have not sold - what would be useful is comparing yourself to the properties that are SSTC or have sold.

There are overpriced houses on my street that have been for sale over a year - and simultaneously there have been houses up and sold within a month. Really that depends on the seller more than the buyer.

Is this an April fools joke or a good idea?

https://propertyindustryeye.com/eye-exclusive-sellers-and-buyers-to-be-charged-for-pulling-out-of-deals/

5% or 2.5% might be more realistic, would certainly make buyers consider their offers more carefully though?

I stopped reading at "Ministers have expressed concerns that estate agencies are being exploited.."

Herzlos

ReadySteadyPop said:

Herzlos said:

I'm telling you that rates are currently on the way down, and that your banging on about a pending crash is both wrong and tedious.

I can't predict the future any more than you can, except for the whole 20+ year doom that's just about to happen.

"Selling at a loss has everything to do with how much new buyers can borrow."

No. Selling at a loss is purely a trade off between taking a low offer and waiting for a higher offer. It's unlikely to be capped at a new buyers maximum price, because plenty of new buyers can afford £150k.

It's getting views, which indicates the price isn't that far out of bounds (assuming the EA is checking people can proceed), and thus something else is putting them off. It's interesting that a lot of houses in the area aren't selling either. That *would* point to the economy/market, but I'd expect that to be more the case for a property that's out of range of all new buyers, say in the £400k range.

Sales and demand are down across the whole market, hence the reason to price smart, better than the competition.

Have you got a citation? Because I can't find any figures for 2025.

This is interesting though: https://www.statista.com/statistics/290623/uk-housing-market-monthly-sales-volumes/

But I'm not sure we can infer anything about 2025 on it given the base rate has gone down.


This doesn't entirely agree with you either, with house prices up 4.9% in from Jan 24 to Jan 25 https://www.ons.gov.uk/economy/inflationandpriceindices/bulletins/privaterentandhousepricesuk/march2025

jimbog

ReadySteadyPop said:

Exodi said:

The selling price is dictated by what someone will pay for the house and has no correlation to the outstanding mortgage.

I'd also be careful of not falling into an inverse form of survivorship bias by looking at other houses that have not sold - what would be useful is comparing yourself to the properties that are SSTC or have sold.

There are overpriced houses on my street that have been for sale over a year - and simultaneously there have been houses up and sold within a month. Really that depends on the seller more than the buyer.

https://propertyindustryeye.com/eye-exclusive-sellers-and-buyers-to-be-charged-for-pulling-out-of-deals/

you do know this was an April Fool's item?

ReadySteadyPop

jimbog said:

ReadySteadyPop said:

Exodi said:

The selling price is dictated by what someone will pay for the house and has no correlation to the outstanding mortgage.

I'd also be careful of not falling into an inverse form of survivorship bias by looking at other houses that have not sold - what would be useful is comparing yourself to the properties that are SSTC or have sold.

There are overpriced houses on my street that have been for sale over a year - and simultaneously there have been houses up and sold within a month. Really that depends on the seller more than the buyer.

https://propertyindustryeye.com/eye-exclusive-sellers-and-buyers-to-be-charged-for-pulling-out-of-deals/

you do know this was an April Fool's item?

The answer to that is in my post.

ReadySteadyPop

Herzlos said:

ReadySteadyPop said:

Herzlos said:

I'm telling you that rates are currently on the way down, and that your banging on about a pending crash is both wrong and tedious.

I can't predict the future any more than you can, except for the whole 20+ year doom that's just about to happen.

"Selling at a loss has everything to do with how much new buyers can borrow."

No. Selling at a loss is purely a trade off between taking a low offer and waiting for a higher offer. It's unlikely to be capped at a new buyers maximum price, because plenty of new buyers can afford £150k.

It's getting views, which indicates the price isn't that far out of bounds (assuming the EA is checking people can proceed), and thus something else is putting them off. It's interesting that a lot of houses in the area aren't selling either. That *would* point to the economy/market, but I'd expect that to be more the case for a property that's out of range of all new buyers, say in the £400k range.

Sales and demand are down across the whole market, hence the reason to price smart, better than the competition.

Have you got a citation? Because I can't find any figures for 2025.

This is interesting though: https://www.statista.com/statistics/290623/uk-housing-market-monthly-sales-volumes/

But I'm not sure we can infer anything about 2025 on it given the base rate has gone down.


This doesn't entirely agree with you either, with house prices up 4.9% in from Jan 24 to Jan 25 https://www.ons.gov.uk/economy/inflationandpriceindices/bulletins/privaterentandhousepricesuk/march2025

UK base rate isn`t really running the show, the real show is being covered live on Bloomberg in around 13 minutes.

Herzlos

UK base rate has a lot to do with mortgage lending rates, though. No?

ReadySteadyPop

Herzlos said:

UK base rate has a lot to do with mortgage lending rates, though. No?

Not over and above global bond market trends, no.