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Cashbuyernotstupid

Stalemate In Ealing

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http://www.rightmove.co.uk/viewdetails-762...pa_n=1&tr_t=buy

Hi

This house has been for sale for over a year, it is now with its second agent and has been for months and months.

Its on at 575k which is a lot but not, in my opinion, too stupid for a zone 3 4 bedder 5 mins from a tube and 30 mins from Piccadilly Circus.

I know from talking to the agent that the vendor has turned down offers of 500 and even 540 which strikes me as bad advice.

The agent remains bullish it will sell at 575.

This is despite that figure being a ceiling price for the road which certainly peaked probably 2 years ago. If you search they have gone for more, or the same, but this road has a variety of property on it.

So in conclusion we have a house which is probably priced within 10% of what others have sold for, been on for a year and yet still the agent is telling the vendor to hold out for full asking.

Madness

thank you

Edited by Cashbuyernotstupid

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So in conclusion we have a house which is probably priced within 10% of what others have sold for, been on for a year and yet still the agent is telling the vendor to hold out for full asking.

Madness

thank you

Not necessarily, could be that the agent recommended accepting £540 but vendor refused anyway.

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I am looking to move to Ealing in the new year - a 3 bedder to rent will be nice.

I went to a few agents on Saturday to do an initial recce. They were all very empty. One agent (I won't say the name, but a well known one in the area who does lettings and sales) said that there was too much available for rent so that offers were being genuinely considered. He did think that things were picking up on the sale front but I didn't see much evidence of this in practice.

I think their view was that no one goes looking for property at this time of year.

I have seen quite a few properties like the one you refer to that have been available for quite some time in Ealing and haven't heard of many stories when properties have been sold at substantial reductions (not >8% off or thereabouts). However, even ones that have stuck on the market have eventually sold with less than 10% being taken off asking price). Quite depressing really.

The property you refer to is in a nice area and I am genuinely surprised that it hasn't sold as there are many people in the area who are still very bullish about prices.

Do you live in the area? rent or own?

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I would say prices are generally holding up in Ealing but sales are slow.

Flats move quicker than houses.

In terms of rent - there seems to me to be a big oversupply of property for rent - keeping a cap on rental returns.

Cheers

Edited by smilerg

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I would say prices are generally holding up in Ealing but sales are slow.

Flats move quicker than houses.

In terms of rent - there seems to me to be a big oversupply of property for rent - keeping a cap on rental returns.

Cheers

Agree about prices holding up. Have been watching them closely as I plan to sell in Sept/Oct. With regard to houses though, if they are priced right, they will sell. My next door neighbours house was on the market for only as couple of days before selling in October.

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I was in the pub last night and a guy from Ealing was stating that Ealing prices had gone up by 13% in 2005. I haven't seen that figure before and don't know where it has come from - I assume it had been put in the local gazette.

I have done quite a bit of research on nethouseprices in the last few weeks and see that prices have been pretty steady. If anything there has been a very marginal drop (but only a few percent). I have been trying to put the figures into a spreadsheet and work out which roads/areas are dropping faster than others but not sure what is the best way to do this. Any ideas?

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I was in the pub last night and a guy from Ealing was stating that Ealing prices had gone up by 13% in 2005. I haven't seen that figure before and don't know where it has come from - I assume it had been put in the local gazette.

Based on my experience in a nice part of W7 and anecdotal evidence from elsewhere in the Borough the guy is spouting rubbish. I would agree that prices were pretty well static last year. I completed on a sale in November (I'm now STR), having accepted an offer in August after 3 months on the market. Two others in my road put theirs on the market during the Autumn and promptly withdrew them again after receiving only 'derisory' offers.

However there seems to have been a bounce at the beginning of the year with some highly optimistic asking prices - this is the most extreme example. In comparison ours (3 bed, but same size) sold for 270k and a similar 2 bed sold for 260k in October.

As my wife is not happy renting, I view such prices with zero enthusiasm unless it it the last ditch spike before collapse.

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I have noticed a spring bounce in ealing unfortunately. All the agents are very confident and properties that didn't sell last year have suddenly started selling. There is a shortage of properties at the moment and with demand outstripping supply It doesn't look good.

I am a bear addicted to the HPC cause but having an agent quote me The Express headline of house prices rise £2000 in 2 weeks - no matter what i say will help, it's in print so it must be true(!x!x). One more new Ea (Dexters), Sipps has gone and FTB & investors are still piling in around here, mad.

Had a few offers knocked back this year and they were only 5-10% under asking price. If they are going up 10% this year which seems like they have allready i will never be able to buy.

If it is EA bravado they are good!

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hi everyone, i live in ealing.

I'm in the position of having to move to a 3 bed because we have a new arrival. It's bad timing on our part as I would much preferred to have sat tight over the coming years rather than become embroiled in a chain that doesnt complete because the whole line from the top is overpriced. The vendor of the property we making an offer for is not even prepared to come down by 5%.

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By way of an update, I went for a walk along Corringway this week armed with a printout of the nethouseprices prices for the road.

It is quite interesting to see the differences in what people have been prepared to pay. there are some houses which are actually quite small but people have paid nearly £700k for it but other houses are actually quite big and have been relatively reasonably priced (about 560k). The really noticable thing though is that there was very little on the market. Unless and until there is much more on the market, the prices are not going to come down at all never mind massively.

That being said, Grimshaws seem to have a lot for sale at the moment and much of it is not selling.

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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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