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7 minutes ago, Trump Invective said:

Revised up to 6.0

Lol

"Guys, I went back and checked, I think last month's number was a bit out."

"Yeah we know, I mean it's obviously-"

"-too low, exactly."

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This is bonkers.....surely they're setting themselves up for a massive head line grabbing fall at some point soon.

This is definitely not what I'm seeing in my area of interest - SW London, most on RM page are consistent reductions.

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Sick of all the ******** now.

What I am seeing (areas of interest London/South East)

- properties very slow to move, got hundreds saved on Rightmove, very few go SSTC
- rarely a good one comes on at a low price: goes very fast
- many have reductions of c.10-15%, but sellers refuse to reduce any more and property just sits there
- some sellers could not sell their properties at all last year, they took them off the market and now have put them back on at exactly the same price, hoping nobody notices.

I see a lot of pent-up resistance, your experience might be different.

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Hampshire - lots of considerable reductions, 10-15% and more.  But I think these are reductions from unrealistic prices in the first place.

The Feb Halifax number is the killer.  I don't think I have ever seen any explanation for this outlier.

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24 minutes ago, simon2 said:

Sick of all the ******** now.

What I am seeing (areas of interest London/South East)

- properties very slow to move, got hundreds saved on Rightmove, very few go SSTC
- rarely a good one comes on at a low price: goes very fast
- many have reductions of c.10-15%, but sellers refuse to reduce any more and property just sits there
- some sellers could not sell their properties at all last year, they took them off the market and now have put them back on at exactly the same price, hoping nobody notices.

I see a lot of pent-up resistance, your experience might be different.

This 100%....mexican stand-off between buyers and sellers....need some event now to tip things either way - Brexit, rate rise etc.

Just this morning I spoke to an estate agent after they sent us another ridiculous over-priced, 3-bed semi, doer upper (£750k), explained she might as well stop sending me these things until the vendors and themselves acknowledged that the London market has changed fundamentally over last 18 months.

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49 minutes ago, simon2 said:

Sick of all the ******** now.

What I am seeing (areas of interest London/South East)

- properties very slow to move, got hundreds saved on Rightmove, very few go SSTC
- rarely a good one comes on at a low price: goes very fast
- many have reductions of c.10-15%, but sellers refuse to reduce any more and property just sits there
- some sellers could not sell their properties at all last year, they took them off the market and now have put them back on at exactly the same price, hoping nobody notices.

I see a lot of pent-up resistance, your experience might be different.

i too am in SW london. in the last few weeks i have seen more properties come onto the market with kite flying  prices

 

e.g. https://www.zoopla.co.uk/for-sale/details/45488073?search_identifier=dcd71a15a5c844ec8daafe8cae588cfd

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4 hours ago, simon2 said:

Sick of all the ******** now.

What I am seeing (areas of interest London/South East)

- properties very slow to move, got hundreds saved on Rightmove, very few go SSTC
- rarely a good one comes on at a low price: goes very fast
- many have reductions of c.10-15%, but sellers refuse to reduce any more and property just sits there
- some sellers could not sell their properties at all last year, they took them off the market and now have put them back on at exactly the same price, hoping nobody notices.

I see a lot of pent-up resistance, your experience might be different.

Yes, but that's exactly how the figures are held up. Not selling therefore no effect on the 'sold' house price indices. Houses selling elsewhere in the country may still be slightly 'up' on their previous price too and be a country mile cheaper than London/SE.

Always worth reminding people that Halifax and Nationwide are only reporting on sales made using their mortgages not all sales across the country.

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Sorry, nothing very inciteful from me, only to reiterate what simon2 said. 

Its exactly the same round here in Chester and North Wales.  A ton of stuff (half decent actually) not shifting, often re-advertised after a year or more. What we have seen is the small 2 and 3 bed stuff go quite quick and at slightly elevated prices, which might explain the apparent rise in 'sold' prices, but isn't a true reflection of the wider market and the houses I'm interested in with 3+ beds and somewhere to park the car.

I think we need a tipping point. I thought it might be Brexit, but less convinced the longer that saga continues. I get the feeling for as long as rates remain low people can keep the roof above their head and, although they'd like to sell and have gone to the effort of advertising their house, are not forced to sell, just yet.  But I'm happy to wait.  I'm a patient awkward sod, that's why my lady says she loves me!

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  • 296 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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