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Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.House Prices - paying close to asking price realistic now?
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I think ive over offered on mine. But I looked at how much houses nearby sold and it’s around the same mark. Trying to think too much about it. I offered less, it was rejected. I knew I wanted the location, offering a little bit more means one of the rooms or the garden might not get dressed up as nicely right away but the location and space are long term....that’s me justifying to myself the price Im paying!0
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I think ive over offered on mine. But I looked at how much houses nearby sold and it’s around the same mark. Trying to think too much about it. I offered less, it was rejected. I knew I wanted the location, offering a little bit more means one of the rooms or the garden might not get dressed up as nicely right away but the location and space are long term....that’s me justifying to myself the price Im paying!
If it's going to be house you are happy in then probably the right price for you ..0 -
I read an article the other day that said the housing market "is on its knees" - when you read the article, it turns out the average house price over the previous 12 months has dropped by 0.1%.
Newspapers are happy to paint a bleak picture as it sells papers. The reality is that the market is fairly stable. 0.1% in any direction is nothing.
We are in Manchester, although we cover the whole of the UK. We are busy, but we have noticed a drop in business in London and the South East, but everywhere else seems to be as busy as ever and to be honest, busier. It must be busier as we are as busy as we were last eyar and the year before but with very little from London and the SE.
So my limited conclusion is that the bulk of the housing market is holding its own even if it is not setting the world alight. There is no harm in making an offer, but I am not sure we are in the 10% off the asking price type of market at the moment.I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
The housing market going down 0.1% doesn't equate to asking prices0
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True. But if house prices are fairly steady and in general the market is going ok, then its hard to see why people would be accepting offers some way off the asking price.I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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there are probably 5 properties coming up each month that fall into our criteria.
You've got loads of choice then. I'm shopping in South Manchester and if one a month comes up that really ticks the boxes, I'm happy. We've seen two so far, one snapped up before we saw it, the other a little bit of a stretch on price.0 -
I read an article the other day that said the housing market "is on its knees" - when you read the article, it turns out the average house price over the previous 12 months has dropped by 0.1%.
We are in Manchester, although we cover the whole of the UK. We are busy
I hope I summarised you accurately. I'm in south manchester and I'm being told 350k on a property I bought (and tidied up) two years ago for 260k. Ain't no 0.1%s around here. Those averages tell you nothing about what's happening where you live, in either direction.
Trouble for me is, I'm trying to upgrade locally and the competition is hot. The right house you can ask almost anything.0 -
Is there really that big a difference because in the south and the midlands nothing is moving, must just be the north.0
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Manchester and surrounding areas are in super turbo mode at the moment and it all seems to be fuelled by nothing more than the towel folder and his ''Northern Powerhouse''... which itself appears to be nothing more than a nebulous and meaningless concept aimed at encouraging people to invest in property and ramp up prices.0
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quotememiserable wrote: »You've got loads of choice then. I'm shopping in South Manchester and if one a month comes up that really ticks the boxes, I'm happy. We've seen two so far, one snapped up before we saw it, the other a little bit of a stretch on price.
We live in South Manchester at the moment, funnily enough. I cannot fathom how properties in Didsbury (read: Burnage) are selling for the amount they are. I suppose it's the close proximity to the city and the amazing public transport.0
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