Monday, Sep 20, 2010
How much are prices falling? 15%? 20%? 25%?......
Housing Expert: Asking prices are plummeting
Great piece highlighting the price reductions that are happening up and down the country. 1/3 of all properties for sale have been marked down over the summer as asking prices remain detached from sale prices.
Posted by charles lister @ 10:01 AM (752 views) Add Comment
3 Comments
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1. techieman said...
Hi Charles
i like Henry's stuff but he has pointed out many times that there is a huge difference (i think it was around 60k) between RMs asking price data and the n/wide average HPs. yes i just looked £229,767 v £167,000.
i think this point is wrong though : Predators are circling, funds are being corralled and glossy brochures are being printed to pounce when a victim is spotted.
i am reminded of the old vulture, the victim is definitely not dead yet. The young vultures may think that, and may go in only to find they themselves become victims, as the "carcass" fights back..
2. drewster said...
Techie,
In many markets there is a gap between the average offer price and the average transaction price. For example I often buy concert tickets on eBay. If there are ten sellers touting between £35 and £65 a ticket, then the average offer price is £50. However as a buyer I choose the cheapest one at £35. That is the market-clearing price, and the true value of the item.
3. Hotairmail said...
Of course he is a VI - he acts for buyers. lol