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gruffydd

Ea Says Typical Offers Now Coming In 10-20% Below Asking Price

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My local West Wales EA told me this yesterday PM. Confirms what I am seeing all around me - very heavy price falls and offloading of second homes. He said offers were regularly being accepted 25% below asking and said this looks like a 'real crash' Ho ho! Happy times!

And this is BEFORE the public sector cuts kick in - the public sector accounts for around 70% of employment in Wales.

Edited by gruffydd

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My local West Wales EA told me this yesterday PM. Confirms what I am seeing all around me - very heavy price falls and offloading of second homes. He said offers were regularly being accepted 25% below asking and said this looks like a 'real crash' Ho ho! Happy times!

wuhoo!

popping-champagne-cork.jpg

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My local West Wales EA told me this yesterday PM. Confirms what I am seeing all around me - very heavy price falls and offloading of second homes. He said offers were regularly being accepted 25% below asking and said this looks like a 'real crash' Ho ho! Happy times!

And this is BEFORE the public sector cuts kick in - the public sector accounts for around 70% of employment in Wales.

This is the BearWave.

The VIs have finally worked out that lower prices are required to return the volume off which they live.

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My local West Wales EA told me this yesterday PM. Confirms what I am seeing all around me - very heavy price falls and offloading of second homes. He said offers were regularly being accepted 25% below asking and said this looks like a 'real crash' Ho ho! Happy times!

And this is BEFORE the public sector cuts kick in - the public sector accounts for around 70% of employment in Wales.

633802202918840145-Excellent.jpg

I would quite happily buy a house today for 30% off the asking prices locally. But, as you say, the public sector cuts in Wales have not even been announced let alone happened.

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This is the BearWave.

The VIs have finally worked out that lower prices are required to return the volume off which they live.

A friend put in an offer 20% below asking...the agent recommended that the vendor accept it which they did no quibbles...should they have offered 25% or 30% less? :unsure:

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I've seen 40% off asking price accepted for a local renovation project recently. Bank lending on properties which are in an uninhabitable state has gone completely apparently.

Edited by gruffydd

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I can confirm this. My brother put his house up for sale a couple of weeks ago and has had 2 offers of 20% less.

And the asking price was quite reasonable in comparison to other similar properties in the area.

Also a friend of the wife had a similar experience they had an offer of 20% less on the table for a month. They rejected the offer, dropped the price still no interest after a month so accepted the offer.

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In the winter of 2008 / 09, it was the people making silly low offers who came out with smiles and cheap houses. Could be that history is rhyming.

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In the winter of 2008 / 09, it was the people making silly low offers who came out with smiles and cheap houses. Could be that history is rhyming.

The most recent lowest price sale on the street will always set the standard. ;)

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My local West Wales EA told me this yesterday PM. Confirms what I am seeing all around me - very heavy price falls and offloading of second homes. He said offers were regularly being accepted 25% below asking and said this looks like a 'real crash' Ho ho! Happy times!

And this is BEFORE the public sector cuts kick in - the public sector accounts for around 70% of employment in Wales.

It's to be expected - it's West Wales after all. I want those reductions in the South East

shavedchimp

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It's to be expected - it's West Wales after all. I want those reductions in the South East

shavedchimp

You obviously have no idea what property has been going for, and is still being asked for, in West Wales. It would make many a Londoner :blink:

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The MSM will hope it goes away, then they HAVE to report it,.....then "It will start"..............It going to be BLOODY good fun!

Mike

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Sadly nothing like those offers are being accepted around here (Northants)

I've been looking at the sale prices on Zoopla/NetHousePrices of some houses I've been interested in and gobsmacked how close the asking/purchase prices are on £500K+ properties, sometimes just £5k-10k off.

I guess there's not so many public sector workers around here.

Edited by exiges

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Sadly nothing like those offers are being accepted around here (Northants)

Same here in South Cambs, those that don't go mad get their asking price. Anything special goes for 2%-40% over asking. One work colleague has just offered asking+£5K.

I haven't seen anything go for less than 10% under asking for two years.

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So what makes a certain place a better than another place....London is not exactly the best place to live for quality of life...traffic, overcrowded transport, noise, high density of people all squashed together...IMO more and more have now wised up to this and are planning to move to better places....what is in vogue today may not be in vogue tomorrow. ;)

Edit: London has one good thing going for it....there are more people to sell stuff to.

Edited by winkie

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Same here in South Cambs, those that don't go mad get their asking price. Anything special goes for 2%-40% over asking. One work colleague has just offered asking+£5K.

I haven't seen anything go for less than 10% under asking for two years.

There is very little selling here - things are sticking on the market for a long time so I think it's safe to assume when they do sell it is below asking price.

I couldn't generalise about the market here over the last 2 years.

2 years ago in Autumn 2008 it was still going down.

Early in 2009 as in the interest rate cuts kicked in to the nation's consciousness - the market recovered its 2008 falls - there wasn't much on the market and what came to market seemed to sell within a week.

Now, we have quite a lot of property on the market but, over the summer, it has completely stagnated. Sold signs seem to be staying for months again.

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It's to be expected - it's West Wales after all. I want those reductions in the South East

shavedchimp

A few weeks a go an EA working for the largest firm in the area of a place that is famous for biscuits and books said many properties were now getting large asking price drops with 10% common and 20% too. In some cases offers are accepted. He doesn't think this will last and prices will rise again.

I have a friend who is an EA near Heathrow, she says similar is happening there - low offers and vendors are starting to listen.

10% off of asking is looking common(ish) round here.

What's Mildura's view?

On another note I have 2 colleagues who aren't selling their house for any less than X - they will still be living where they are in 2 years time!

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My local West Wales EA told me this yesterday PM. Confirms what I am seeing all around me - very heavy price falls and offloading of second homes. He said offers were regularly being accepted 25% below asking and said this looks like a 'real crash' Ho ho! Happy times!

And this is BEFORE the public sector cuts kick in - the public sector accounts for around 70% of employment in Wales.

Good. Your area is on my list of places to look at in about 3 months. Are the 25% off deals based on overinflated (2007) asking prices though?

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You obviously have no idea what property has been going for, and is still being asked for, in West Wales. It would make many a Londoner :blink:

I was in Tenby yesterday. Looking in EA's windows It looks about 2/3 the price of here, and a fraction of London prices to me.

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  • 261 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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