Selling Two Properties - Heading Overseas

[aussieboy]

All,

Three months ago I posted that I was selling up to head back down under - personal reasons. My experiences in selling are real time, true reflections of what is going on in two markets.

I have exchanged on my place in SW London. It was on the market for 2/3 weeks. 10 viewings, one offer of ~100% of asking price - accepted because I was sick of viewings. This price is ~30% higher than that an identical property sold for in Q206.

I also own in elsewhere, but this property has only just hit the market, to a surprisingly strong response: bear in mind that I am an old HPCer so I put in on at the very bottom of the EA ranges expecting to be laughed out of the market.

Not saying that all this is good, or bad (beginning to think it is bad, to be honest), but it is what it is. And it is surprising.

AB

[azogar]

All,

Three months ago I posted that I was selling up to head back down under - personal reasons. My experiences in selling are real time, true reflections of what is going on in two markets.

I have exchanged on my place in SW London. It was on the market for 2/3 weeks. 10 viewings, one offer of ~100% of asking price - accepted because I was sick of viewings. This price is ~30% higher than that an identical property sold for in Q206.

I also own in elsewhere, but this property has only just hit the market, to a surprisingly strong response: bear in mind that I am an old HPCer so I put in on at the very bottom of the EA ranges expecting to be laughed out of the market.

Not saying that all this is good, or bad (beginning to think it is bad, to be honest), but it is what it is. And it is surprising.

AB

good luck

[aussieboy]

good luck

Thank you, prophet-profit. I will take your comment on face value, and so, may I say, you are a gent (even if you are female). I'm not a property investor, so will have to buy again anyway in an Aussie market which, despite what you may read here, is still robust in many areas.

So it's left pocket, right pocket plus the Aussie D is even stronger than Sterling.

[azogar]

Thank you, prophet-profit. I will take your comment on face value, and so, may I say, you are a gent (even if you are female). I'm not a property investor, so will have to buy again anyway in an Aussie market which, despite what you may read here, is still robust in many areas.

So it's left pocket, right pocket plus the Aussie D is even stronger than Sterling.

I was being genuine - your post looked honest to me; i sold up in London in 2002 and never looked back, one of the curses of making a few quid on a house is greed but you don't seem like the greedy sort to me (but you will probably take some flak for owning 'another' property - hardly makes you Nicholas Van Whathisface though!)

[huw]

I also own in elsewhere, but this property has only just hit the market, to a surprisingly strong response: bear in mind that I am an old HPCer so I put in on at the very bottom of the EA ranges expecting to be laughed out of the market.

Not necessarily surprising; since you're pitching below what the herd will be asking then yours must look like good value. I think yours is a wise strategy, particularly if you want to get out in a reasonable timescale.

Hope it sells and you find what you're looking for in Oz.

[Smell the Fear]

Best of luck, I am in SW London as well and there are places on my street for sale that have been on the market for months now. I would describe their asking prices as fanciful to say the least, though - 50% higher than places sold for in past 2 years.

[aussieboy]

Thanks guys. I'd forgotten what a pain in the backside selling a house was - the lawyers have made the EAs seem like paragons of professionalism.

BTW if I didn't have to sell up to get a place with a wee garden for my toddler (which seems a luxury these days), I would have avoided selling the London place. The way things have gone historically (long term), we've bugger all chance of buying back in... not that I would want to, but my wee one may when she's older and god knows how much it will cost to live in zone 2 in 2020... it's bad enough now.

[aussieboy]

For those that are interested (both of you) my S Yorks house hit the internet on the weekend. To my surprise (being generally a pessimist), almost 20 viewings have been booked in over the next couple of days... can't wait to say the same thing over and over again.

I'm beginning to wonder where I have been reading this forum too long and it's affected my price expectations: looks like there are (putative) buyers (or at least looky loos) out there if you price it low enough... FWIW rental yield on the place is almost 7% if you make the asset sweat enough.