rugby

Hi all Just a quick update and resurection for this thread...well here we are 17 months on from my post above and, guess what it's still for sale!!!! That's SIX years plus on the market. Surely this must be a record!

The cheaper one is "new" build (or not so new in this case!), never been lived in. Maybe you're right about the other one, they've just forgotten their house is for sale!

Memory is a bit fuzzy but I think the one now up at £322K started around £360K and the £290K one started at about £315K. My opinion: the £290K one is worth about £230K the other probably about £250K...until next week when they will drop further!

http://www.rightmove.co.uk/viewdetails-162...=3&tr_t=buy Still for sale six months later, coming up for SIX years now. http://www.rightmove.co.uk/viewdetails-121...=2&tr_t=buy This one still up too (about 5 years I think)...why don't they just give up?!

I agree, the house is not to my taste either....but come on 5 years on the market, that is some going!

Or try this one, been for sale for around 5 years, new build (or not so new anymore!), never been lived in. http://www.rightmove.co.uk/viewdetails-162...=3&tr_t=buy

I have never read such utter drivel! Brough has been struggling for at least 3 years. This mother has been on for at least 4 years, maybe even 5 http://www.rightmove.co.uk/viewdetails-121...=2&tr_t=buy

6538, for what it's worth I agree with you. You have posted clear, well laid out and accurate posts. Many on here do want to "accelerate" the price falls. Of course prices are falling but people need to get their facts straight. The most important thing though what has already been said, spotting the bottom of the market and buying at the right time....v difficult...any one have any clues? Of course it will go back up again, it's a cycle.

Everything on this estate is crammed in/small plots. Bovis had many problems here, at one time there was a large banner hanging from an occupied house near the show homes warning of the perils of buying a Bovis home! I agree it's not everyones taste and the design is a little odd, but I was making the point that it simply had never sold...surely they would be desperate to offload it. I once viewed a new home with an electricity pylon leg at the bottom of the garden, i commented to the saleswoman something to the effect of "how will you ever sell this?", she gave a knowing smile and a few months later it was occupied.

This little beauty in Brough, E Yorks (smart commuter village for Hull plus many commuters to Leeds) has been finished and for sale for 4 years (never lived in) http://www.rightmove.co.uk/viewdetails-162...=2&tr_t=buy Is this a record?

Fully agree with your sentiments but that's John Prescott and PPG 3 for you. If I remember correctly guidance said there was no need to provide any off street parking, you're supposed to sell your car and take the tube, but hang on a minute this is a village in East Yorkshire! (Yes I do spot the irony of Prescott being from nearby Hull). Typical London minded decision making. Thats a tandem garage by the way, not a single.

The house that I originally posted the link to has dropped from £344k to £322k...must be getting on for being on the market for 5 years! http://212.50.188.105/cgi-win/vebra.cgi?de...5/KETTL/17056/5

Definitely been for sale for 4 years, plenty others 2 years plus. I know of a new build on that estate now 3 years old and has NEVER been lived in. The house I linked to is nice but is very crammed in and overlooked, it's worth £270K. As for prices falling, well I reckon this one never will. Many of these sellers do not NEED to sell and cannot accept the price situation, I reckon this guy would wait 10 years to get his £344K!...he will then say told you so! Others are accepting it and pricing accordingly, for example look at this http://www.vebra.com/home/search/vdetails....mp;pid=11874605 same estate, but built by David Wilson, much nicer house, bigger plot...£45k less. So what you see in the west Hull micromarket is a two tier pricing system; those who need to sell and those in cloud cuckoo land who will never sell. By the way this is the 3 year old "new" house... http://www.vebra.com/home/search/vdetails....mp;pid=12423113

Are you talking about Brough? Market is dire, especially on the new build estates. Some houses have been for sale for 4 years plus like this one http://www.vebra.com/home/search/vdetails....mp;pid=12009005

http://en.wikipedia.org/wiki/Manchester Greater Manchester Urban area has a population of 2.24million (less than the West Midlands though)

They've been wanting a £250K winner on there for ages, the £45k offer pushed her towards taking a risk. I think it is fixed in that someone on the staff knows where the money is and it is then easy to arrange for the person holding the 250 to be called to the table to play...the 250 has been in the winners box loads of times recently.

Just ignore them! Looking on Rightmove you can see there are 2 markets; those who need to move house and have priced accordingly and those stubborn/ignorant/greedy ones who will just wait for ever and have also priced accordingly, As the other poster said above I'm sure their EAs just ignore them whilst racking up an almighty advertising bill!

I agree they obviously don't need to move. What I don't get is why don't they just give in and withdraw from the market. The middle house I posted would sell in couple of weeks if marketed at £255k (to achieve £250k), they paid £230k for it in mid 03 so there's still a nice bit of profit in it It comes down to two thing stubborness and greed. We had a similar style house and sold it in Oct 05 for 250, our neighbours thought that we were mad and it must be worth at least 320 but I could see what was coming...getting on for 18 months later they are still worth 250 ie the market has been flat/in decline for the last 2 years.

Please elaborate!

http://www.rightmove.co.uk/viewdetails-121...=3&tr_t=buy This has been up for more than 3 years, Brough, East Yorks http://www.rightmove.co.uk/viewdetails-117...=1&tr_t=buy This second one has been on for 27 months, I think they started at about £320K http://www.rightmove.co.uk/viewdetails-860...=2&tr_t=buy This one also 27 months

Hi Warwickshire Lad...I agree Rugby suddenly seems to have gone ballistic in the last 3 months, almost everything seems to have a Sold sign on it

Why not buy a 1600 square foot 4 bed detached here in Rugby, buy a Virgin Trains season ticket and pocket the rest?!

I agree with these sentiments and like the windy day/tsunami analogy ie least desirable are affected first. There is a Twigden development near here that is really struggling, many of the houses have been finished for well over a year and are just sat empty with a For Sale pinned to the wall. I have never seen such a cramped in development, cars parked all over the pavements and people looking straight in to each others living rooms. The best bit is the ads in the local property press advising punters "to move fast" !!!

I've lurked on here for 18 months, posted a few times. I just find it interesting that the most logical well argued post on this thread (by Orbital) has been totally ignored. I honestly feel for the right kind of house (usually traditional with a bit of space ie. somewhere to park a couple of cars and a decent rear garden) this crash is not going to happen on the other hand modern ppg3 designed estates and high density city apartments are already falling. There is not just one UK market, there is an infinite number of micro markets all with their own factors....some will crash and some will not.

Your observation is spot on; I have seen exactly the same in E Yorks and Rugby. Nice modern houses (small gardens) will not budge and many price reductions....on the other hand older stuff (even 70s and 80s) with good gardens and somewhere to park two cars side by side are being snapped up.