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Estate Agent Issues Warning On Prices

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Guest Winners and Losers

Estate agent warns on pricing

A SENIOR Yorkshire estate agent has warned buyers to beware of basing their price expectations on so-called "average" UK prices.

Russell Manning, managing director of Leeds-based Manning Stainton, says the housing market has enjoyed a soft landing – to everyone's relief.

But in the company's latest review of local housing market activity, he has warned that people will no longer buy "anything at any price" and are happy to walk away from a deal if they perceive the property is over priced.

Mr Manning told the YEP: "The clear message – certainly in this part of the UK – is that stability has made a welcome return to the property market.

"The market is now much more in balance between buyers and sellers – with a clear tendency to favour buyers – which is why price and presentation are key factors when selling your home.

"Sellers should not base price expectations on 'average UK prices' or 'national trends' – or even TV property programmes and anecdotal evidence from friends.

"The hard fact is that buyers – under much less pressure than before – will look at all available properties in an area and compare price and presentation to find best value."

An objective market appraisal from a local agents would offer a useful starting point, he said.

10 February 2006

I'm just working on my 'I told you so banner' - design ideas welcome.

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Nice evidence of EA's switching over to the "dark" side.

We said they'd start to talk the market down when their volumes dried up.

Less commission is better than no commission at all.

More good news to speed things along.

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Estate agent warns on pricing

"The market is now much more in balance between buyers and sellers – with a clear tendency to favour buyers

:blink::blink:

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"The market is now much more in balance between buyers and sellers – with a clear tendency to favour buyers –

I spoted this bit too...So it's in balance with a clear tendency to one side. Somebody needs to show this idiot EA a dictionary.

This EA is admitting the market is falling and favours buyers.

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Estate agent warns on pricing

A SENIOR Yorkshire estate agent has warned buyers to beware of basing their price expectations on so-called "average" UK prices.

Russell Manning, managing director of Leeds-based Manning Stainton, says the housing market has enjoyed a soft landing – to everyone's relief.

But in the company's latest review of local housing market activity, he has warned that people will no longer buy "anything at any price" and are happy to walk away from a deal if they perceive the property is over priced.

Mr Manning told the YEP: "The clear message – certainly in this part of the UK – is that stability has made a welcome return to the property market.

"The market is now much more in balance between buyers and sellers – with a clear tendency to favour buyers – which is why price and presentation are key factors when selling your home.

"Sellers should not base price expectations on 'average UK prices' or 'national trends' – or even TV property programmes and anecdotal evidence from friends.

"The hard fact is that buyers – under much less pressure than before – will look at all available properties in an area and compare price and presentation to find best value."

An objective market appraisal from a local agents would offer a useful starting point, he said.

10 February 2006

I'm just working on my 'I told you so banner' - design ideas welcome.

Oooh, a "senior Yorkshire estate agent." I am in awe of such an authoritative voice (the scum).

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I spoted this bit too...So it's in balance with a clear tendency to one side. Somebody needs to show this idiot EA a dictionary.

This EA is admitting the market is falling and favours buyers.

"a clear tendency to favour buyers?" I'm sorry.

I don't feel favoured at all until house prices are at an affordable level with a 10% deposit on an average salary. I also note that somewhere yesterday I saw Estate Agents recommending no more than 40% of disposable income towards morgage costs. It used to be 30%. Its all a moveable feast of numbers.

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"a clear tendency to favour buyers?" I'm sorry.

I don't feel favoured at all until house prices are at an affordable level with a 10% deposit on an average salary. I also note that somewhere yesterday I saw Estate Agents recommending no more than 40% of disposable income towards morgage costs. It used to be 30%. Its all a moveable feast of numbers.

Low wage infaltion, disappearing pensions, personal debt, short term working/flexible contracts, globalised work competition, no mortgage relief, high inflation - maybe that figure needs to be more like 20%!

Edited by OnlyMe

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I spoted this bit too...So it's in balance with a clear tendency to one side. Somebody needs to show this idiot EA a dictionary.

This EA is admitting the market is falling and favours buyers.

:lol: i thought the same when i read it.

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Great news - but has this hit the national press? bet it won't be front page news. :(

A gross oversight by the national media. I can see it now:

Scene 1: the office of the Editor of Times of London. Enter the paper's crack investigative reporter. He is waving a piece of paper excitedly

Reporter: Chief, you have to see this. You have to hold the front page. Have a I gotta story for you!!

Editor: What is it, Scoop? I've haven't seen you so excited since the impeachment of Nixon. You must have a helluva story!

Reporter: Have I?! I've just heard that some tuppenny ha'penny provincial estate agent reckons that perhaps from his anecdotal experience that the balance of buyers and sellers in Lower Eckythump has stabilised.

Editor: Holey Moley! Why didn't you bring this to me earlier. (picks up phone) Bronstein? Hold the front page! We have our story.

Hmm...

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Low wage infaltion, disappearing pensions, personal debt, short term working/flexible contracts, globalised work competition, no mortgage relief, high inflation - maybe that figure needs to be more like 20%!

OM, the deposit or the disposable income? :lol:

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A gross oversight by the national media. I can see it now:

Scene 1: the office of the Editor of Times of London. Enter the paper's crack investigative reporter. He is waving a piece of paper excitedly

Reporter: Chief, you have to see this. You have to hold the front page. Have a I gotta story for you!!

Editor: What is it, Scoop? I've haven't seen you so excited since the impeachment of Nixon. You must have a helluva story!

Reporter: Have I?! I've just heard that some tuppenny ha'penny provincial estate agent reckons that perhaps from his anecdotal experience that the balance of buyers and sellers in Lower Eckythump has stabilised.

Editor: Holey Moley! Why didn't you bring this to me earlier. (picks up phone) Bronstein? Hold the front page! We have our story.

Hmm...

:lol::lol: Very good!

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Mannings sold my house last year. They are 'big' in Leeds and Wakefield and probably the most 'professional' of the EA's I had experience of. This is not much of a compliment <_<

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The market is now much more in balance between buyers and sellers – with a clear tendency to favour buyers – which is why price and presentation are key factors when selling your home.

I spoted this bit too...So it's in balance with a clear tendency to one side. Somebody needs to show this idiot EA a dictionary.

He said 'more in balance' not 'balanced'

In other words "FAR LESS IMBALANCED THAN IT WAS"

If something is still imbalanced it will have a TENDENCY TO ONE SIDE.

He implies to me that the balance has swung from being hugely in favour of the seller, and gone past the point of balance and is now settled a little bit in favour of the buyer.

Maybe you should organise a group purchase of a dictionary for yourself and the other posters on here who agree with you.

I'm intruiged why no one spotted or challenged his comments about the soft landing BTW.

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He said 'more in balance' not 'balanced'

In other words "FAR LESS IMBALANCED THAN IT WAS"

If something is still imbalanced it will have a TENDENCY TO ONE SIDE.

He implies to me that the balance has swung from being hugely in favour of the seller, and gone past the point of balance and is now settled a little bit in favour of the buyer.

Maybe you should organise a group purchase of a dictionary for yourself and the other posters on here who agree with you.

I'm intruiged why no one spotted or challenged his comments about the soft landing BTW.

Well that isn't what it implies to me...he has contradicted himself IMO.

But even by your interpretation he is implying a falling (buyers) market.

I think the 'soft landing' has been flogged to death. I read that bit and thought 'whatever, typical EA, wouldn't expect them to say anything else'.

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Guest Winners and Losers

Oh, what-ever. You are such a die hard bull!

He said 'more in balance' not 'balanced'

In other words "FAR LESS IMBALANCED THAN IT WAS"

If something is still imbalanced it will have a TENDENCY TO ONE SIDE.

He implies to me that the balance has swung from being hugely in favour of the seller, and gone past the point of balance and is now settled a little bit in favour of the buyer.

Maybe you should organise a group purchase of a dictionary for yourself and the other posters on here who agree with you.

I'm intruiged why no one spotted or challenged his comments about the soft landing BTW.

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godkills8ny.jpg

Apologies as my post is not in the topic of this thread but this picture got me thinking.

Could there be a dedicated zone for posting funny HPC pictures? As well as a bit of fun for the regular readers we could watermark them with www.housepricecrash.co.uk and let humour advertise this sites existence though the power of email attachment forwarding. What do the mods think?

CAS

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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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