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jiltedjen

Plymouth

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It has taken a year for reality to settle back into the market of falling prices since the temporary damaging boom at the start of 2014.

Reductions are coming thick and fast now. Especially in the last two weeks.

Still a lot of kite-flying sellers trying to shift for 2007 +35% but frankly they are a joke, trying to sell a pokey overpriced flat when three bed houses are 30% cheaper in the same area, (and still not selling!) i can only assume these people are nuts.

Seems the best way to gauge the value of the property is to look at the last-sold price as prices have been stagnant (bar the jan 2014 blip) since 2007. So you can easily spot the better 'value' stuff compared to the jokers.

Plymouth is starting to catch up with other far-from London places, i fully expect the trend to continue and real value should be around 20% below 2007 prices, we will see how far the falls go over the next two years into 2018.

The phycology of sellers is interesting many seem to be pricing based on the January 2014 boom carrying on, or just wishful thinking, i assume that a lot of the 2007 era buyers (now sellers) have already spent their imaginary gains.

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