Thursday, April 3, 2008

Off track again

House Price Survey March

"House prices fell for the sixth month in a row over March with average prices down 0.2% over the month and the annual rate of growth slipping to +0.4% - the lowest level for 2 years." "The latest survey shows that prices were down across 28.8% of postcodes, the majority of which were in London and the South East where values have been slowing off a high base" Just like 1990s crash. The more pumped up a region, the quicker the hot air dissapates. Contrary to what EAs tell you around here (South Bucks), I know people that have lowered the price of their house and still have NO viewings. It's a nice house too - 3 bed det in cul de sac, no social housing nearby, views. They told us - remember they are vendors - to wait at least a year.

Posted by growler @ 07:30 AM (424 views)
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2 thoughts on “Off track again

  • Landedgentry says:

    I’m looking at the South bucks area for my parents and ready to make ridiculously low offers.thanx for the info growler.

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  • If you’re looking at Ashington Page, Bramptons, Frosts then this is the area. I’ve seen house asking prices drop 10% as I’ve been looking for 8 months and know most places by sight. Some have started to market “for quick sale” with a price drop. I’m looking 400-600 (not that I can afford it – but I think I will 😉 😉 . I can think of at least 10 properties straight away that have stuck so solid, even EA’s raise their eyebrows when I ask them to verify how long it’s been on the market. Nowadays that’s my first question of any agent. Watch them squirm as they by truthful response effectively give you the invite to slash the price. I also know of one place where they bought in early summer, took bridging on the advice of a “professional” and are still not sold. That house has dropped almost 65k – and it is STILL not sold. It’s not a dump, it’s in a leafy area and in a cul-de-sac. Maybe up a track without the paddle? Go for it, but I’d wait as there is more smouldering.

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