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jaay

Asking Prices Are All Over The Place: What Does This Mean?

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i have noticed that asking prices in my area seem to be 'all over the place' at the moment in the sense that there doesnt seem to be any consitency/clear logic within the pricing of different properties - admittedly i have only recently began paying much attention to prices although this does seem rather strange...

any thoughts?

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You have no idea what you are talking about?

ouch!

i havent spent a lot of time researching the housing market for the simple reason that i have only recenlty come to be in the position to even consider buying and, as a consequence, i dont know whether what i have noticed has any significance: which is why i posted!

:P

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ouch!

i havent spent a lot of time researching the housing market for the simple reason that i have only recenlty come to be in the position to even consider buying and, as a consequence, i dont know whether what i have noticed has any significance: which is why i posted!

:P

If there are such differences - why not say to estate agent A - how come this one is 20k more than that one in estate agent B. I'd be curious to know what they say.

My experience is that if a property strikes you as cheap when you see it in the paper, there is always a good reason. Saw a nice ex-vicarage the other day - ready to extend, lovely gardens etc. I thought 'that's cheap, what's the catch?' Rang the agent - it's on the edge of a rough council estate.

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This shows the begining of the end of this Bull Run of HPI.

It was exactly the same last time inconsistent pricing all over the place.

It works like this when the market is going up by the week/month and everything sells, pricing is easy, you just

add on a couple of grand until things stop selling i.e. you consistently push the ceiling and when it stops going up, thats peak.

In many areas, many types of property arn't selling. Lot of Estate Agents (unable to earn

a decent living in a really tough market) have bailed out. So lots of spoty new 19 year olds doing valuations. This combined with

plenty of vendor denile due to the Daily Express ect and some vendors cutting prices because the've over streched themselves, give this confusing pricing picture.

With I/R increases comming to a country near you soon and for the next 2 years. Normal service will be resumed. That is vendors and EA will take

a couple of grand off a week/month untill things get back into balance.

Pablo Silver or Lead?

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If you have alot of confusion and over priced places the lower prices will be the ones that sell, people will percieve them as a bargain, the more prices vary the more confusion and the more bargains? (even if the average price on rightmove is 30-40% about the average sale price)

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If there are such differences - why not say to estate agent A - how come this one is 20k more than that one in estate agent B. I'd be curious to know what they say.

My experience is that if a property strikes you as cheap when you see it in the paper, there is always a good reason. Saw a nice ex-vicarage the other day - ready to extend, lovely gardens etc. I thought 'that's cheap, what's the catch?' Rang the agent - it's on the edge of a rough council estate.

it's more a case of thinking 'that's slightly less ridiculous' :D

to be honest, i havent got to the point where i'm speaking with estate agents as i've pretty much ruled out the possibility of buying any time soon - however, i do know the area very well [re possibility of council estate at the end of the road] - i would of course expect differences due to other factors [physical condition of the property etc.] but it does seem a bit mad...

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ouch!

:P

Jaay

Don't let Marina upset you, all she(he) has done is to tell you what she would do and not answer you question - the other posts were more helpful

Perhaps it's Marina who doesn't know what she is talking about :P

CS

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I am seeing the same disparities in similar properties in my area. Many semis priced higher than new detached for example. Stratford has taken a plunge in the last Q and almost 9% YoY. Some sellers are living in the glory days when there was HPI and have not come to terms with the "new paradigm" of falling prices. EAs are telling wannabe sellers to price realistically which means undercutting the competetion to find a buyer. Some sellers seem to think that the newspapers articles are accurate and that houses are still flying off the shelves at higher prices that a year ago. They try it on while the realistic sellers go for the sale. Hence the wide divergences in pricing.

When the propaganda stops and the market comes to terms with the down side of the cycle pricing will become more consistent. For now, some are living yesterday's market.

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i have noticed that asking prices in my area seem to be 'all over the place' at the moment in the sense that there doesnt seem to be any consitency/clear logic within the pricing of different properties - admittedly i have only recently began paying much attention to prices although this does seem rather strange...

any thoughts?

2 houses down my way, same street, built same time, almost identical format. Both on market for 4 months now.

House 1 speculative sellers, see if they can sell, then rent till they buy again, not fussed.

House 2 has garage conversion to make an extra bedroom, + conservatory, sellers need to get rid due to debts.

House 2 10% lower priced, despite extra work done

'Asking prices' aren't 'selling prices'.

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All over the place at the top end too.

Cambridge

The most beautiful modernist house in the city with 1 acre grounds.

Price £1,000,000

A posh new build, quite interesting architecture, but tiny patch compared with the above.

Price £970,000 to live on an estate?

If you had that kind of dosh which would you buy?

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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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