Monday, Aug 18, 2008
House prices fall as buyers fail to take up a bargain (Rightmove)
Times: House prices fall as buyers fail to take up a bargain
In London, where the market has deteriorated sharply, asking prices have dropped by £21,096, or 5.3 per cent, to an average £379,162 in a month. Prices are down 3.8 per cent in the capital over the past year, compared with 4.8 per cent across the UK.
Posted by hogwash @ 12:10 AM (1017 views) Add Comment
11 Comments
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1. peter_2008 said...
Are you sure it is not "House prices fall as buyers SUCCEED in puting sanity back in the market"? or maybe "House prices stiil too high as sellers fail to understand the reality"?
2. bufferbear said...
"buyers fail to take up a bargain????" What, when still overpriced by 40%+?
3. uncle tom said...
Vendor resistance to falling prices appears to be finally giving way.
Previously, vendors seemed too proud to lower their expectations when setting an asking price, preferring to settle for a low offer instead.
Those who are selling might think that the prices are a bargain, but those contemplating a millstone of a mortgage are just not going to buy into a falling market..
The stage now looks set for accelerating price falls as we head towards Christmas
4. paul said...
The comments in the article expose the author as a liar.
5. harold said...
If buyers fail to take up a "bargain", it's probably not a bargain. More very heavy falls required before we are anywhere near bargain territory.
6. it_is_going_with_a_bang said...
Bargains? When I shop and things are 2 for 1 or 50% off - thats a bargain.
Judith Heywood you are an idiot.
7. str 2007 said...
Yes, a significant turning point where sellers are now starting to admit defeat on what were totally unrealistic asking prices.
I'd be interested to know what has happened to asking prices outside of London. They still seem very high to me, but once they see the London asking prices falling rapidly .........
As you say Uncle Tom this should help the Haliwide falls accelerate towards Christmas.
8. tyrellcorporation said...
Considering there are no jobs other than working for The State in Exeter, house prices here are stubbornly high. I expect some well known local EAs to kick the bucket in the next 3-6 months though and I will keep monitoring prices to detect any vendor capitulation.
9. renting2 said...
Even at 50% of current asking prices there is no bargain. Now 30-40% of current asking prices ....... possibly if you time it right.
10. hpwatcher said...
it's a silly mixed up article.
11. shipbuilder said...
If prices have fallen further after these buyers 'failed to take up a bargain', then the prices were hardly a bargain, were they? More meaningless, condascending and obviously biased rubbish.