Debate House Prices
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carolt
Posts: 8,531 Forumite
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.
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.
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Comments
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Ooops!
Catchy thread title, no?!0 -
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 ForumTeam0
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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 30 -
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 ...0
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Turnbull2000 wrote: »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.
GGThere are 10 types of people in this world. Those who understand binary and those that don't.0 -
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You've made the whole forum fat!!!
Edit pleasede do-do-do, de dar-dar-dar0 -
Sorry - tried to do it earlier but called away.
Shall have another go.0 -
BiggaThanBen wrote: »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 rightmoveIt's a health benefit ...0 -
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.0
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