Monday, Jul 21, 2008
it's going to get worse...
Times: Average home asking price down £4,000 on a year ago
''...Homeowners are resorting to increasingly aggressive price cuts in an effort to sell their properties, with asking prices across England and Wales an average £4,000 less than they were a year ago as a new realism sets in across the housing market. The average price is now £235,219, 2 per cent less than last July, according to the Rightmove website...''
Posted by hpwatcher @ 09:06 AM (607 views) Add Comment
6 Comments
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1. paul said...
That's a very short and factual article, Judith.
No embellishments, carefully chosen anecdotes or unsubstatiated opinion this time?
2. Stevo said...
This is a pathetic article,the real bargain hunters would not waist good petrol, on a micky mouse drop like this, a 20k drop might make me do a drive by, if there was nothing any good on TV, sorry vendors.
3. inbreda said...
anecdotal evidence - someone I know put their property up for sale in Exeter - and I seem to remember an article being posted on here about Exeters dire prospects - and it was sold a couple of days ago (signed and sealed) after 2 weeks on the market, with 4 viewings and 2 offers.
Don't know how realistically it was priced, or any more details, but will find out.
4. george monsoon said...
still 90 grand more than they should be...
5. titaniccaptain said...
Inbreda there is no doubt that houses are still selling.....................its just that they are few and far between and they must be mainly cash buyers but before long the cash buyers willing to buy are going to run out.....I believe there will be a real tipping point in this and then the prices will slide like never seen before and the bottom will be reached very quickly
6. plato said...
There may be cash around and seeming 'bargains' in property to be had. However there is no doubt that such purchases are made in a falling market. There are always those who find their ideal property and don't give a stuff about the market value.
This and other exceptions are not 'normal' business and will always give the market a little sign of optimism. In fact they do not keep any market in motion but rather tend to stagnate things.