Cheeky offer?

Herzlos

ReadySteadyPop said:

Herzlos said:

ReadySteadyPop said:

Smalltownhypocrite said:

Up to 10% is normal.

Many houses are priced with a 10% buffer to allow for price drops or offers under unless the house is marketed low to attract lots of interest and bidding wars or quick sale.

The house we bought had just hit the market at the top end of our budget and we offered 8% under asking (10k under) or we wouldn't have money to do the necessary works to make it 'habitable' otherwise. We expected they might say no but they snapped up our offer straight away, later reduced it by an extra 2% (so 10% off asking) due to a easily fixed structural issue found in the survey (2% was half the cost to fix it and we paid the other half).

Depending on the property you might get away with a bigger discount now

.https://www.propertyreporter.co.uk/new-build-sales-fall-62-as-mortgage-market-changes-improve-access-for-buyers.html

I'm curious, what point do you think that article is making?

If something is too expensive it won`t sell.

But that doesn't seem to be what it's saying:

"New-build property sales have fallen sharply this year, but improving mortgage conditions and affordability initiatives are helping more buyers access the market, according to the latest research from Yopa."

New build sales have dropped drastically, but otherwise house prices are up 8.1% in the last year. I don't think OP is talking about new builds here. 

ReadySteadyPop

Herzlos said:

ReadySteadyPop said:

Herzlos said:

ReadySteadyPop said:

Smalltownhypocrite said:

Up to 10% is normal.

Many houses are priced with a 10% buffer to allow for price drops or offers under unless the house is marketed low to attract lots of interest and bidding wars or quick sale.

The house we bought had just hit the market at the top end of our budget and we offered 8% under asking (10k under) or we wouldn't have money to do the necessary works to make it 'habitable' otherwise. We expected they might say no but they snapped up our offer straight away, later reduced it by an extra 2% (so 10% off asking) due to a easily fixed structural issue found in the survey (2% was half the cost to fix it and we paid the other half).

Depending on the property you might get away with a bigger discount now

.https://www.propertyreporter.co.uk/new-build-sales-fall-62-as-mortgage-market-changes-improve-access-for-buyers.html

I'm curious, what point do you think that article is making?

If something is too expensive it won`t sell.

But that doesn't seem to be what it's saying:

"New-build property sales have fallen sharply this year, but improving mortgage conditions and affordability initiatives are helping more buyers access the market, according to the latest research from Yopa."

New build sales have dropped drastically, but otherwise house prices are up 8.1% in the last year. I don't think OP is talking about new builds here. 

Developers are desperately trying to run their own HTB schemes and prices are skewed up on falling volumes as less people want to buy. Exactly the points I made. How it affects the OP is that when general sentiment towards property sours people tend to feel more able to make cheeky (sensible) offers.

Herzlos

ReadySteadyPop said:

Developers are desperately trying to run their own HTB schemes and prices are skewed up on falling volumes as less people want to buy. Exactly the points I made. How it affects the OP is that when general sentiment towards property sours people tend to feel more able to make cheeky (sensible) offers.

Developers are trying to prop up sales prices to keep prices high, and sales of new builds are down presumably due to them being so expensive and concerns about quality. 

That has no real bearing on the sales of older housing though, like OP is presumably looking at since it's not a fixed price. 

The only impact new price sales slowing down now means is that builders will build less new houses now and there will be an even bigger shortage later. In the mean time prices are still going up. 

ReadySteadyPop

Herzlos said:

ReadySteadyPop said:

Developers are desperately trying to run their own HTB schemes and prices are skewed up on falling volumes as less people want to buy. Exactly the points I made. How it affects the OP is that when general sentiment towards property sours people tend to feel more able to make cheeky (sensible) offers.

Developers are trying to prop up sales prices to keep prices high, and sales of new builds are down presumably due to them being so expensive and concerns about quality. 

That has no real bearing on the sales of older housing though, like OP is presumably looking at since it's not a fixed price. 

The only impact new price sales slowing down now means is that builders will build less new houses now and there will be an even bigger shortage later. In the mean time prices are still going up. 

There already is oversupply so I don`t see there being any shortage, especially as the mood has really turned against mass immigration. Expect to see some more developers going bust in my opinion.

https://www.pbctoday.co.uk/news/hr-skills-news/2025-administrations-keep-up-with-latest-construction-companies-collapse/147257/

You would think of all places London would be the epicentre of the mythical "shortage" of housing?

https://www.telegraph.co.uk/money/property/buying-selling/developers-padlock-new-builds-london-housebuilding-collapse/

I think the definition of "Cheeky Offer" needs to be updated, 10% is nowhere near "cheeky".

ReadySteadyPop

Herzlos said:

ReadySteadyPop said:

Developers are desperately trying to run their own HTB schemes and prices are skewed up on falling volumes as less people want to buy. Exactly the points I made. How it affects the OP is that when general sentiment towards property sours people tend to feel more able to make cheeky (sensible) offers.

Developers are trying to prop up sales prices to keep prices high, and sales of new builds are down presumably due to them being so expensive and concerns about quality. 

That has no real bearing on the sales of older housing though, like OP is presumably looking at since it's not a fixed price. 

The only impact new price sales slowing down now means is that builders will build less new houses now and there will be an even bigger shortage later. In the mean time prices are still going up. 

This sounds more hopeful than realistic to me, I think the budget could be the start of prices really falling and the era of "cheeky offers" really getting going, there are just so many ways that this overvalued market is exposed to seemingly small decisions.

https://uk.finance.yahoo.com/news/cutting-cash-isa-allowance-could-033100728.html?guccounter=1&guce_referrer=aHR0cHM6Ly9kdWNrZHVja2dvLmNvbS8&guce_referrer_sig=AQAAAC_gRqgxXTojHLFpBTf02umbV6J2M67vVoQcy_SjfUKVmAL44p0rW-tNgYZECKog2MDn6_0PVQHuwSRIjxQ-YO6Jj7AjNkchLEgbR2aiCCmU_1bpGiEjqGgxH6DGyQbjR9XP4-GINvvWFcC3UY3kC0zi_5Eb-Rrc6q7QhAhlJ5VV

ReadySteadyPop

Herzlos said:

ReadySteadyPop said:

Developers are desperately trying to run their own HTB schemes and prices are skewed up on falling volumes as less people want to buy. Exactly the points I made. How it affects the OP is that when general sentiment towards property sours people tend to feel more able to make cheeky (sensible) offers.

Developers are trying to prop up sales prices to keep prices high, and sales of new builds are down presumably due to them being so expensive and concerns about quality. 

That has no real bearing on the sales of older housing though, like OP is presumably looking at since it's not a fixed price. 

The only impact new price sales slowing down now means is that builders will build less new houses now and there will be an even bigger shortage later. In the mean time prices are still going up. 

That has been the case for many years though?