House Prices Rising Sharply In Boston (Uk)

[cypher007]

i know its asking prices but im at a total loss as to where people here are getting the money from to buy some of these houses, and more importantly why there prepared to pay £180k for a three bed that was £160k in 2007!!!

Edited July 9, 2010 by cypher007

[Laura]

It's the ouses themselves wot is doin it. They are fighting back against being undervalued in sossciety.

I predicted this would happen.

[Timhm]

It's the ouses themselves wot is doin it. They are fighting back against being undervalued in sossciety.

You're right!

[Edit: d'oh, beaten in another thread]

Edited July 9, 2010 by Timhm

[concerned_money]

i know its asking prices but im at a total loss as to where people here are getting the money from to buy some of these houses, and more importantly why there prepared to pay £180k for a three bed that was £160k in 2007!!!

asking prices getting reduced bt 5-10% before going STC in my area

sk178pf + 3 miles, viewed using propertybee

selling prices are probably another 5% off = 10-15% reductions

[Neil D Possitt]

I'm also in Lincs but further north (Market Rasen area).

Round here there seems to be a two-tier approach to asking prices - some are still asking 2007 peak prices and mostly not selling, others have made huge reductions (40% in one case) but equally are not selling either.

[erranta]

i know its asking prices but im at a total loss as to where people here are getting the money from to buy some of these houses, and more importantly why there prepared to pay £180k for a three bed that was £160k in 2007!!!

Typical EA/houseowner ruse (spring/early summer) ramp the price up then let any 'idiot' beat you down to the original 'wanted' price?

Esp. if they are too thick to do any homework before committing themselves to one of the biggest/important purchases of their lives!

Always be prepared to walk away - something (surprisingly) far better comes along later!

[ourmaminhavana]

I'm in Lincoln itself and houses are very overpriced. However this week, really for the first time, there have come a flutter of tiny reductions scattered around lots of different EAs. It's a start. I believe average household incomes here are around £20k so £200k seems a huge amount for the area. Apparently 40% of property is sold to buyers from outside the county which is hardly a surprise.... However, I wonder if this will stop prices falling or just delay it.

I offered 10 % less than the asking price for something a few weeks ago and the EA didn't even get back to me! Just saw a sold sign on Rightmove. I know it wasn't worth any more than we offered as I'm pretty tapped in to the area and my friend has recently bought on the same street.

Edited July 9, 2010 by ourmaminhavana

[Georgia O'Keeffe]

i know its asking prices but im at a total loss as to where people here are getting the money from to buy some of these houses, and more importantly why there prepared to pay £180k for a three bed that was £160k in 2007!!!

i think this could be the Nantucket effect, it always comes to the fore during hot summers

ohhhh wait a minute....

[plummet expert]

I'm in Lincoln itself and houses are very overpriced. However this week, really for the first time, there have come a flutter of tiny reductions scattered around lots of different EAs. It's a start. I believe average household incomes here are around £20k so £200k seems a huge amount for the area. Apparently 40% of property is sold to buyers from outside the county which is hardly a surprise.... However, I wonder if this will stop prices falling or just delay it.

I offered 10 % less than the asking price for something a few weeks ago and the EA didn't even get back to me! Just saw a sold sign on Rightmove. I know it wasn't worth any more than we offered as I'm pretty tapped in to the area and my friend has recently bought on the same street.

It's gradually tipping over everywhere. There are always 'chancers' around who try all sorts of prices. No need to worry because if you wait they will all be tumbling very nicely as we go into 2011. Here, an empty house up the road came on for £425k. Happen to know the agents advised it would fetch about £325k. Didn't sell. reduced to £375k. An offer of £345k came in, but a few weeks later it has fallen through. Valuation trouble.

In fact in its present state it would only be worth about £250k at prefalling prices. It needs gutting - friend of ours viewed it with builder husband. They can't make it stack up atall unless well under £250k.

So, it's the EA's wasting everyones time. Unfortunately it would do the country a great deal of good if we were to 'suffer/enjoy' the US experience of up to 50% falls and then cap mortgage borrowing properly.

[ingermany]

http://www.rightmove.co.uk/property-for-sale/property-21530321.html

However, I was house-hunting in 2007 and this house was on the market at 320K, now 3 years later it is up for 259K. Not a crash, but a respectable reduction for a big house in a nice part of town. I assume there is a reason it is still unsold after 3 years I have checked it regularly and it has never moved from the listing (just down the listings).

[non frog]

....im at a total loss...

One might say you are stumped

[council dweller]

One might say you are stumped

A local?