locky82 Posted April 18 Share Posted April 18 I check Rightmove daily, I’m in the market for the ‘forever’ family home in a specific area and have been looking since October. Well, over the past few days I think I’m starting to see what I believe is evidence of the rates working through. A number of ‘forever’ homes listed that were bought at summer 2022 peak, all have nursery’s in the pic’s which make it a bit shit, however have all listed 10% over what they paid. I can only theorise that young families listing these 4 bed detached homes after less than two years is down to the increase in rates with remortgage on the horizon, is the most likely cause. Could be a sign of things to come, could be nothing, just thought I’d post as seen a noticeable uptick. Quote Link to comment Share on other sites More sharing options...
fellow Posted April 18 Share Posted April 18 One thing I've noticed over the past few weeks is there have been lots of new listings but not that many price reductions. But the last couple of weeks I've seen quite a big wave of reductions, as though sellers had been holding out due to the media hype but reality is now beginning to sink in? Quote Link to comment Share on other sites More sharing options...
Cluelessofnowhere Posted April 18 Share Posted April 18 I've seen properties bought two years ago asking for a smidge more than they paid. Maybe hoping to at least cover their costs. Surely they have to accept a loss? Quote Link to comment Share on other sites More sharing options...
TenYearToGetMyMoneyBack Posted April 19 Share Posted April 19 (edited) Walking to the local Sports and Social Club last night through housing estates I noticed an increase in "For Sale" signs. Only one "Sold" sign on a property that looks to be empty and has been on the market since late last year. The same EA has had two sales fall through recently including one in this road which has fallen through twice. The most anecdotal thing about the state of the market was a "For Sale" sign tie wrapped to a road sign at the end of a road leading to a cul-de-sac where a house is for sale. I thought that really smacked of desperation. Do they think nobody is looking on Rightmove and the only way to sell a house is to have a sign on the main road? Edited April 19 by TenYearToGetMyMoneyBack Clarity Quote Link to comment Share on other sites More sharing options...
Huggy Posted April 19 Share Posted April 19 It's certainly not a common occurrence down my way, but one place (3 bed semi) has a £10k asking price below the 2022 value. It's £425k vs £435k, so not a biggie, but it's the right direction at least. Mostly they're trying it on with 20%+. Don't want to lose with bricks and mortar eh! Quote Link to comment Share on other sites More sharing options...
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