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the puddleducks

Actual Selling Prices

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It seems to me that the blinkered pricing and expectations of sellers and EAs will only change when actual evidence of property sales at lower prices than previously bought comes to light.

In my area, North Manchester/Oldham/Rochdale, new listings by EAs are still often at the highest prices seen for that street, despite the clear lack of buyers. I do feel that the only way a reality check for sellers can occur is when you can turn around and prove there have been actual falls in selling prices.

So we need the evidence whereever it may be - I can't find any yet, but LR postings on houseprices.co.uk are about two months behind. Once falls are seen, I believe it will be the catalyst to a major mindset change for those sellers clinging on to the fairytale valuations they believe their property will sell for.

This could be a long thread timewise - any chance of pinning it, moderator?

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It seems to me that the blinkered pricing and expectations of sellers and EAs will only change when actual evidence of property sales at lower prices than previously bought comes to light.

Yes, we're still largely in the Denial phase of the cycle, and there's still a lot of stalemate out there. Once the YoY indexes start going negative I am hoping for an increased momentum to lower prices.

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I'm keeping an eye on one of my neighbours houses.

http://www.dezrez.com/DRApp/Search.ASP?WCI...ar&WCE=00397190

Here's the prices for sales in my road from Sept 2000

No.11 - £85,500 - Sept 2000

No.1 - £88,000 - Aug 2001

No. 12 - £110,000 - May 2002

No. 9 - £134,995 - Apr 2003

No. 10 - £145,000 - Apr 2003

No. 3 - £162,000 - Nov 2004

All the houses are roughly the same, and as you can see they've virtually doubled in price between Sept 2000 and Nov 2004.

My neighbours house is now on the market at £163,500...recently reduced from £165,000. It's also in nicer condition than the house sold last November. And it has a driveway with garage, whereas the other had a garage in block.

Speaking to the owner I don't think he's had a huge amount of interest. No.3 that sold last year was on the market for £165,000 sold for £162,000 - so not even 2% off the asking price...!

Personally...I can't see this one selling for more than the last.......

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  • 301 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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