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gruffydd

Bristol Crashes - Prices Down 10% Already In Places

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http://www.thisisbristol.co.uk/displayNode...;pNodeId=144922

Doug Wood, managing partner of Woods estate agents, has already seen a drop of 10 per cent in the asking price for some of the properties on his books.

He said: "The days of grossly inflated prices are over, and buyers are in their strongest position for many years. There has been massive inflation over the past few years but now the froth is coming off the market and the cycle is coming to an end.

Edited by gruffydd

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Guest grumpy-old-man
http://www.thisisbristol.co.uk/displayNode...;pNodeId=144922

Doug Wood, managing partner of Woods estate agents, has already seen a drop of 10 per cent in the asking price for some of the properties on his books.

He said: "The days of grossly inflated prices are over, and buyers are in their strongest position for many years. There has been massive inflation over the past few years but now the froth is coming off the market and the cycle is coming to an end.

this is exactly why some of the people following the government/VI stats have missed the start of this hpc.

Once the real figures come out & get backdated, some just don't see it happening. It's good sometimes to be detached from the stats & data imo.

The data has been manipulated by hugely expensive sales at the top of the market imo, therefore showing hpi where imo it hasn't existed for some time. :ph34r:

edited to add bold words. :rolleyes:

Edited by grumpy-old-man

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blah blah falls but no crash blah blah There may be a blip now and a drop of 10 or 12 per cent would be good for buyers...

A 'Blip' ?

:P

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According to Stephen Morris, a chartered surveyor and partner at Davies and Way the readjustment of property prices signals that the market is returning to a more normal state. "I haven't seen any evidence of a fall in value, but a fall in prices, which is probably because prices are over-inflated in the first place."

Hmm. But there's a reason this site is called House PRICE Crash, not House VALUE crash:

The price is what matters! The "value" could be anything you decide it is.

Edited by Selling up

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Don't you just love the way the headline put the word fall in single quotes, as though it's anything but a real fall and perhaps just one nutter's crazy opinion.

No doubt prices will be 'falling' for many years to come.

I'm surprised that they didn't say that falls would "benefit" buyers as well. After all, we all know that high prices are actually a good thing good for buyers: the more you pay, the more "equity" you have.

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Classic weasel words from an Estate Agent.

Sounds to me as though if you sell your house today in Bristol today, it'll sell for less than last year.

If that isn't a fall, I don't know what is.

err- its a 're-pricing of risk' according to Mervyn! ;)

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Classic weasel words from an Estate Agent.

Sounds to me as though if you sell your house today in Bristol today, it'll sell for less than last year.

If that isn't a fall, I don't know what is.

You're right. Their words don't even make sense.

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http://www.thisisbristol.co.uk/displayNode...;pNodeId=144922

Doug Wood, managing partner of Woods estate agents, has already seen a drop of 10 per cent in the asking price for some of the properties on his books.

He said: "The days of grossly inflated prices are over, and buyers are in their strongest position for many years. There has been massive inflation over the past few years but now the froth is coming off the market and the cycle is coming to an end.

Cue: Graham Norton: "Ooooooooooooooooooh its happening thoe' fast who would have thought it?" :lol::lol:

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