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A Little Anecdotal

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I have lived where I am now for a bit less than 2 years. When we moved here in late summer 05 the market was in the doldrums. The biggest houses on the estate at £575k had been stuck on the market for a year or more. Any that sold went well under their original asking price.

One up the road from me went in December 2005 for a fiver short of £500k. It is on the market now for £579k. The people that own it no doubt think that prices have gone up 15%. For them, they have. But for anyone on this estate who bought that type of house at the top of the market in 2003/first half of 2004 - they have seen no increase at all.

Yet still the perception around here is that prices are galloping up relentlessly year after year. Odd really.

And - at last - the market is stalling. Houses are sticking on the market, some now have two EA boards up and some now have 'Price Reduced' on the details or in the paper.

Feels like 2004 again.

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I have lived where I am now for a bit less than 2 years. When we moved here in late summer 05 the market was in the doldrums. The biggest houses on the estate at £575k had been stuck on the market for a year or more. Any that sold went well under their original asking price.

One up the road from me went in December 2005 for a fiver short of £500k. It is on the market now for £579k. The people that own it no doubt think that prices have gone up 15%. For them, they have. But for anyone on this estate who bought that type of house at the top of the market in 2003/first half of 2004 - they have seen no increase at all.

Yet still the perception around here is that prices are galloping up relentlessly year after year. Odd really.

And - at last - the market is stalling. Houses are sticking on the market, some now have two EA boards up and some now have 'Price Reduced' on the details or in the paper.

Feels like 2004 again.

Things are very similar where I live too. Houses on the market for ages ... not selling ... price reductions ... still not selling! Then this happens ... http://www.housepricecrash.co.uk/forum/ind...showtopic=48814

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