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Harold Bishop

Decent Price Reduction

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17% of massive is still far too little. Still at least £100k over priced. Probably £150k

Agreed .... but...... the price change is in the right direction and not a piffling 1 or 2 %. It's a decent leg down. The vendors have realised there is no spring bounce.

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I wonder what buyers think about a house being reduced...

Does it activate a buy buy buy signal in their brains - or do they think... "maybe if the price drops to £X,000 I'll wait and see if it goes further"?

Of course in the good old days - Location Location Location would have you put in a cheeky offer of £Xk minus £1,000 - and see if they'll bite - even though their budget was £X-50k. But anything for a forever home. :)

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I wonder what buyers think about a house being reduced...

Does it activate a buy buy buy signal in their brains - or do they think... "maybe if the price drops to £X,000 I'll wait and see if it goes further"?

Of course in the good old days - Location Location Location would have you put in a cheeky offer of £Xk minus £1,000 - and see if they'll bite - even though their budget was £X-50k. But anything for a forever home. :)

All depends on what it drops from and what it drops to.

Doesnt change my personal calculations from buying...

ie, % drop from peak, and % yield if rented out.

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I wonder what buyers think about a house being reduced...

Does it activate a buy buy buy signal in their brains - or do they think... "maybe if the price drops to £X,000 I'll wait and see if it goes further"?

Decent reductions usually get the house SSTC in a short time. Despite the views on here about it's true value, this house has just dropped into the price range of a whole bunch of new buyers.

The general buying public are ( unlike HPCers !) way behind the curve on house prices. Most still believe house prices are flat or maybe rising a tiny bit. So, these buyers will now bite at the new price - probably at asking or a little above as the old price is "sticky".

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Looks like two semis knocked into one.

My bid is £150k assuming its a nice area, £100-125k if not.

Fantasy pricing. Just 'cos you say it, doesn't make it so.....

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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
      • up 2.5%
      • up 5%



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