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By-Tor

Rightmove - The Reason For Increases In Average

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Ive been watching a number of properties on Rightmove for 18 months and keeping a close eye on certain areas in Poole and Bournemouth and have noticed the following pattern.

Property A goes on at a ridiculous overinflated price eg 200K

Property B goes on at a sensible price eg 100K

Giving an average 150K

Property B gets sold (because its at a reasonable price)

Property C goes on similarly at a sensible price eg 100K

Average is now 166K

No I haven't gone mad, and yes I can add up. The thing I forgot to mention was the greedy yanker in property A decides that his EA is useless and employs another EA as well. Thus two listings at 200K and one at 100K.

Simply repeat until EAs listing same property => 1/2 dozen. Result = rising average.

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Ive been watching a number of properties on Rightmove for 18 months and keeping a close eye on certain areas in Poole and Bournemouth and have noticed the following pattern.

Property A goes on at a ridiculous overinflated price eg 200K

Property B goes on at a sensible price eg 100K

Giving an average 150K

Property B gets sold (because its at a reasonable price)

Property C goes on similarly at a sensible price eg 100K

Average is now 166K

No I haven't gone mad, and yes I can add up. The thing I forgot to mention was the greedy yanker in property A decides that his EA is useless and employs another EA as well. Thus two listings at 200K and one at 100K.

Simply repeat until EAs listing same property => 1/2 dozen. Result = rising average.

e

That's an interesting argument. I'm not sure if this has been discussed in the Rightmove thread?

I am in south Dorset and looking at houses from New Milton across to Wimborne. A lot has been coming onto the market much of it sticking around for sometime. There is a lot of post £200k houses which don't seem to be selling. Too much for BTLers (poor yield), FTBers and 2nd time buyers!!

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It has been discussed, and, although with standard deviation, that 1 trillion pound property that came onto the market would give a huge boost to the figures!

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One area I concentrate on is Merley, just south of Wimborne. In a particular road (Sopwith Crescent) there have been a few houses recently, all over three hundred K.

The first was at 335K, for sale, then sold stc, then for sale again, then sold stc again, then nothing, that was about 8 months ago and its never shown up on nethouseprices.

The second appeared 4 months ago at 355K, went to sold stc within a month, has disappeared off the lists but not yet appeared on nethouseprices.

The third appeared about 2 months ago at 330K, it went to sold STC within weeks, still at sold stc.

Two things, if you take other similar houses sold in this road in the last 2 years the asking prices are way over the top (difficult to quantify unless you know the road as the housing types are quite different).

This particular road/area seems to be either bucking the trend or all these sales are falling through and the full evidence is not yet there.

Damm frustrating.

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  • 302 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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