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It Must Be The Time Of Year.....

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It must be the "spring bounce" but a number of friends and work colleagues all seem to be looking to sell up and move house at the moment.

When I question a) the costs of moving (stamp duty, solicitors, estate agents commission, etc...) and B) the fact that everywhere is overpriced and could be subject to price drops in the not too distant future I get blank looks.

I am truly shocked at how many people just don't do the maths for what will probably be the most expensive purchase of their lives.

What's even more suprising is how these people who bought houses in the last couple of years are attempting to sell at considerably more than what they paid and then wonder why no one is viewing.

One friend paid £400K for a house early 2008 just as everything was unravelling. He's done nowt to the house and has just slapped a random extra £50K to the property price and has just put it on the market. It will be interesting to see how many people come to view.

When I mentioned he may have to drop the price to less than what he paid in order to sell I was totally mocked.

I look at what's happening and it seems obvious to me there's going to be a correction.

Or maybe not. Maybe i'm the idiot...

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Unless this house is in some fancy area of london I think it will be him that is unpleasantly surprised. Unless he can find an idiot to buy it.

Please keep us informed over the coming years about how the price drops and it sticks around on the market.

Then the mockers will be the mockees, or something like that, if you wanted to further annoy the non-believers.

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We're in the Midlands, so wouldn't expect any "London effect" here.

Just heard another colleague bemoaning the fact they've had hardly any viewings in the last month whereas the property they wanted to buy the guy told her they were getting 6 viewings a day and has now been snapped up by a cash buyer.

I think the clues are, it was a lot better and larger property than the one you're in, only just down the road and only £10K more than what you're asking. Go figure. Duh?

But of course, (because they bought at the wrong time) they couldn't possibly sell theirs for any less.

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  • 312 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
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      • up 5%

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