Tuesday, Apr 14, 2009
Expectations vs reality = Gridlock
Telegraph: Quarter of houses unsold after six months
More than a quarter of houses up for sale have been on the market for more than six months, research showed today. Around a third of flats and 26 per cent of houses have failed to sell during the past six months, while 10 per cent of flats and 7 per cent of houses have been on the market for more than a year, according to property website Globrix.com. The group said despite interest from potential buyers picking up during the past few weeks, falling house prices and the shortage of mortgages meant sales had remained static.
Posted by quiet guy @ 01:28 AM (656 views) Add Comment
4 Comments
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1. montesquieu said...
It's finally happening ... one property I've been watching (a 3-bed in North Somerset, admittedly in a beautiful setting) is finally down by a whopping £250k or 31%, to £400k.
Still overpriced though, the initial asking price was a fiction. Another 25% to £300k and we are about right I think.
2. Frank Bell said...
That initial asking price is down about 38.4% already not 31%
3. Letsgetreadytotumble said...
Find this hard to believe. Around here (Cornwall), we have a lot of houses that have been on the market for over a year. A handful have sold in about 50 up for sale.
4. letsgetreadytotumble said...
Find this hard to believe. Around here (Cornwall), we have a lot of houses that have been on the market for over a year. A handful have sold in about 50 up for sale.