Data Dave Posted March 25, 2021 Share Posted March 25, 2021 East of England +0.7% and holding strong. England and UK average both negative... Average house price in East of England now stands at £310,639. Compared to UK average at £249,309! Quote Link to comment Share on other sites More sharing options...
Crowed Posted May 22, 2021 Share Posted May 22, 2021 When we first moved here someone told me East Anglia falls last but falls the furthest... Amazing seeing the amount I people and money coming here currently (I can't complain we did too a few years back) impossible to book a builder for months as so much work is going on. Quote Link to comment Share on other sites More sharing options...
Data Dave Posted May 26, 2021 Author Share Posted May 26, 2021 On 5/22/2021 at 9:48 AM, crow said: Amazing seeing the amount I people and money coming here currently Interesting, and coming up from London or Essex predominately, wanting second homes or a main residence? One of the largest regional rises in a single month I've seen in a long time in East Suffolk at 5.8%! East Suffolk encompasses towns like Woodbridge etc. Quote Link to comment Share on other sites More sharing options...
Data Dave Posted May 26, 2021 Author Share Posted May 26, 2021 That now puts house prices in the east of England at £315,059 [source: LR - Latest report in May reporting Mar 21 data] Quote Link to comment Share on other sites More sharing options...
Crowed Posted May 26, 2021 Share Posted May 26, 2021 It is all sorts but loads of holiday let folks. A few friends in Norwich are even looking for holiday homes here but can't really afford it. Def a few Londoners heading this way but also plenty from all over the country - I live in a holiday town so people come here on holiday and decide to move. Gut feel five years ago it was more retirees moving here or def those mid 50s, and now there are a few more in their 40s or younger - but still plenty of older folk who have the money. This is the oldest county in England I believe... Quote Link to comment Share on other sites More sharing options...
Crowed Posted May 26, 2021 Share Posted May 26, 2021 Interestingly a house that a friend put an offer on and was told that vendor (probate) had already accepted full asking - but looking on LR is went for £45k under the asking - but it did seem to be a very long sale. Quote Link to comment Share on other sites More sharing options...
Data Dave Posted June 10, 2021 Author Share Posted June 10, 2021 On 5/26/2021 at 4:54 PM, crow said: was told that vendor (probate) had already accepted full asking - but looking on LR is went for £45k under the asking How odd. Maybe the offer didnt stand up to the mortgage valuation and they went with 'next best', happens quite a lot in a 'bull' market? Or agent was trying to get better offer, probably the latter but you still could argue that the largest determining factor with house price inflation is a mortgage appraisal. Quote Link to comment Share on other sites More sharing options...
Crowed Posted June 10, 2021 Share Posted June 10, 2021 I reckon there was a lot of work to do. They had an architect around a lot, maybe they were good at haggling and the probate just wanted to sell. Had two more friends in Norwich both have their sales fall through today, they are gutted. Quote Link to comment Share on other sites More sharing options...
DB85 Posted June 10, 2021 Share Posted June 10, 2021 On 5/26/2021 at 4:54 PM, crow said: Interestingly a house that a friend put an offer on and was told that vendor (probate) had already accepted full asking - but looking on LR is went for £45k under the asking - but it did seem to be a very long sale. I had this recently. A probate house we looked at had countless viewings over several days and many offers apparently. We offered £30k over the asking price but didn’t get it, and we’re told that it went for £60k over the asking price. It went on land registry at just £5k over the asking price. I rang up with agent and asked what had happened and they sold me some story about issues with the survey but I said surely for a house with that many offers they would have reached back out. He said the vendor had chosen not to. It makes you wonder what the agents actual communicate to the vendors, maybe it wasn’t in their interest to go to the effort of starting again for an extra couple hundred quid commission. An even more cynical thought we had was that it may have been purchased by one of the agents acquaintances. Quote Link to comment Share on other sites More sharing options...
Data Dave Posted June 17, 2021 Author Share Posted June 17, 2021 On 6/10/2021 at 11:25 PM, DB85 said: It makes you wonder what the agents actual communicate to the vendors It does indeed, I mean there are laws binding them to communicate certain things. How enforceable these are, in real terms, i've no idea. Probably not very! On 6/10/2021 at 11:25 PM, DB85 said: maybe it wasn’t in their interest to go to the effort of starting again for an extra couple hundred quid commission I think you've hit the nail on the head. Instruct an agent on commission and expect some 'nuttiness'. Have you been able to complete on anything? @DB85 The last I remember countless stories of paying over asking was 2006/2007 ie pre crash.... Quote Link to comment Share on other sites More sharing options...
DB85 Posted June 19, 2021 Share Posted June 19, 2021 On 6/17/2021 at 1:11 PM, Data Dave said: It does indeed, I mean there are laws binding them to communicate certain things. How enforceable these are, in real terms, i've no idea. Probably not very! I think you've hit the nail on the head. Instruct an agent on commission and expect some 'nuttiness'. Have you been able to complete on anything? @DB85 The last I remember countless stories of paying over asking was 2006/2007 ie pre crash.... I know the agents are obliged to pass on offers received etc, but once an offer has been accepted I don’t think it would be in their interest to advise the vendor to put the property back on the market if there was some last minute renegotiation. We finally had an offer accepted on a place on March so we are now waiting on a completion date. I feel like we are probably paying too much but it is in the right location for us and we’re not really prepared to wait any longer to get settled. Quote Link to comment Share on other sites More sharing options...
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