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andybee33

The Crash Is Here In My Area!

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Het all,

Further to my post about the big differences in recent sold prices and asking prices (http://www.housepricecrash.co.uk/forum/index.php?showtopic=169231) in my area (CA), I hereby present two more examples - one of which is first hand.

1 - Saw a nice house - great location buy mabe a little small - last weekend. On market for £350k. Last sold at peak (2007) for £330k but somewhat improved. Sellers divorcing. Like it but think it's way over priced. Called EA for a chat. After much gnashing of teeth offered £279k. EA said it was a solid and realistic offer in the 'current market'! Sellers haven't gone for it as they've just gone to market and have more viewings - fair enough. BUT EA reckons that they will soon enough. So full 20% under asking.

2 - Speaking to lady (mother of kids friends) at weekend. Just completed for a big place in a nearby town. Asking was £625k. Accepted £445k!

So, IMPO, the crash is really here - it just isn't being reflecting in ASKING prices yet. Only a matter of time though. Once these new 'low' sales complete, EAs and Surveyors will use them as valuation basis.

Happy days.

Edited by andybee33

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Het all,

Further to my post about the big differences in recent sold prices and asking prices (http://www.housepricecrash.co.uk/forum/index.php?showtopic=169231) in my area (CA), I hereby present two more examples - one of which is first hand.

1 - Saw a nice house - great location buy mabe a little small - last weekend. On market for £350k. Last sold at peak (2007) for £330k but somewhat improved. Sellers divorcing. Like it but think it's way over priced. Called EA for a chat. After much gnashing of teeth offered £279k. EA said it was a solid and realistic offer in the 'current market'! Sellers haven't gone for it as they've just gone to market and have more viewings - fair enough. BUT EA reckons that they will soon enough. So full 20% under asking.

2 - Speaking to lady (mother of kids friends) at weekend. Just completed for a big place in a nearby town. Asking was £625k. Accepted £445k!

So, IMPO, the crash is really here - it just isn't being reflecting in ASKING prices yet. Only a matter of time though. Once these new 'low' sales complete, EAs and Surveyors will use them as valuation basis.

Happy days.

£279,000 what kind of house is that for circa 13 times average salary??

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  • 284 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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