Debate House Prices


In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non MoneySaving matters are no longer permitted. This includes wider debates about general house prices, the economy and politics. As a result, we have taken the decision to keep this board permanently closed, but it remains viewable for users who may find some useful information in it. Thank you for your understanding.
We'd like to remind Forumites to please avoid political debate on the Forum. This is to keep it a safe and useful space for MoneySaving discussions. Threads that are - or become - political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

http://www.ft.com/cms/s/0/8eb1fe82-0235-11dd-9388-000077b07658.html?nclick_check=1

Property prices ‘near standstill’ as home deals get tougher

By Sharlene Goff
Published: April 4 2008 17:33 | Last updated: April 4 2008 17:33
Homebuyers are negotiating large discounts on properties around the country as fears grow that prices will drop below last year’s levels.
....
Miles Shipside at Rightmove.co.uk, the property website, says prices being achieved now are typically 10 per cent below the “peak boom” asking prices.
He says: “Some sellers are still going in near to boom prices as they almost have to prove to themselves that there is a lack of interest.”
Some of those looking to move are asking high prices for their own property, while at the same time trying to negotiate a discount off the property they are looking to buy.
“We are seeing a lot of contradictory behaviour,” says Shipside.
«1

Comments

  • carolt
    carolt Posts: 8,531 Forumite
    Ooops!

    Catchy thread title, no?!
  • Turnbull2000
    Turnbull2000 Posts: 1,807 Forumite
    Double click in the thread title block (not on the title itself) in the main forum to change!
    Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam
  • BiggaThanBen
    BiggaThanBen Posts: 529 Forumite
    Part of the Furniture 100 Posts Combo Breaker
    Well, I looked at recent sold prices in the area I am watching (London commuter belt) - they went mostly for like 1-3% under the asking price, e.g.

    asking/sold
    £217.500 / 216.000
    £275.000 / 272.000
    etc.

    the biggest reduction in February was £10K on a £390K house ...
    All my life my mother told me the storm was coming (c) Terminator 3
  • m00m00
    m00m00 Posts: 1,755 Forumite
    remember land registry completed deals are lagged, and most deals will have been agreed before the recent spate of mortgage deal withdrawals.
    It's a health benefit ...
  • Gorgeous_George
    Gorgeous_George Posts: 7,964 Forumite
    Part of the Furniture Combo Breaker
    Double click in the thread title block (not on the title itself) in the main forum to change!

    or Go advanced from the edit screen.

    GG
    There are 10 types of people in this world. Those who understand binary and those that don't.
  • BiggaThanBen
    BiggaThanBen Posts: 529 Forumite
    Part of the Furniture 100 Posts Combo Breaker
    m00m00 wrote: »
    remember land registry completed deals are lagged, and most deals will have been agreed before the recent spate of mortgage deal withdrawals.
    agree, but I wonder where rightmove get their data from ?
    All my life my mother told me the storm was coming (c) Terminator 3
  • aurora_borealis_2
    aurora_borealis_2 Posts: 13,477 Forumite
    You've made the whole forum fat!!!

    Edit please :)
    de do-do-do, de dar-dar-dar ;)
  • carolt
    carolt Posts: 8,531 Forumite
    Sorry - tried to do it earlier but called away.

    Shall have another go. :o
  • m00m00
    m00m00 Posts: 1,755 Forumite
    agree, but I wonder where rightmove get their data from ?


    rightmove is based on initial asking prices of property listed on rightmove

    it does not take into account of property reduced in price during it's time on rightmove
    It's a health benefit ...
  • Zammo
    Zammo Posts: 724 Forumite
    Estate agents say there is a stand-off between buyers, who are increasingly cautious about the market, and sellers, who are still refusing to face up to the reality of house price falls.
    Properties are often being priced at last year’s high levels, but vendors are increasingly being forced to accept lower offers.
    “Vendors and purchasers are not meeting eye-to-eye,” says Liam Bailey, head of residential research at Knight Frank. “Buyers want a deal, but vendors still want the same high prices they were getting last year.”
    Miles Shipside at Rightmove.co.uk, the property website, says prices being achieved now are typically 10 per cent below the “peak boom” asking prices.
    He says: “Some sellers are still going in near to boom prices as they almost have to prove to themselves that there is a lack of interest.”

    Great article.

    This sums up exactly what I am seeing at the moment.
This discussion has been closed.
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 348.3K Banking & Borrowing
  • 252.1K Reduce Debt & Boost Income
  • 452.4K Spending & Discounts
  • 240.8K Work, Benefits & Business
  • 617.1K Mortgages, Homes & Bills
  • 175.6K Life & Family
  • 254K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16K Discuss & Feedback
  • 15.1K Coronavirus Support Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.