Friday, February 13, 2009

Asking Prices Rise – What About Selling Prices???

Third Month Of Asking Price Rises In London

""While the recent stabilisation is welcome news, it is important to acknowledge that the substantial gains in early 2008 have been eroded and asking prices are only 1.61 per cent (£20,547) higher than this time last year." ....................THESE ARE ASKING PRICES OF VENDORS IN DENIAL AND EA'S SO DESPERATE TO GET ANYONE ON THEIR BOOKS THEY ARE WILLING TO GO ALONG WITH THE TRAGI/COM, BEING PLAYED OUT ACROSS THE UK.

Posted by bystander @ 09:47 PM (1531 views)
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14 thoughts on “Asking Prices Rise – What About Selling Prices???

  • Well, they just want to give bigger discounts. Or appear to give bigger discounts…….

    But it won’t make any difference, we are just entering the depression, house prices will probably end up falling around 50-60% from the peak.

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  • I see this as the final ‘speaking in tongues’ stage of the denial phase.

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  • An EA phoned me a few days ago, asking if we were still in the market…I gave my usual “yep, still sitting here with cash burning a hole in the matress, but not prepared to even look at properties with asking prices higher than Aug 2007 peak minus 20%” What a surprise, nothing on their books at those values.

    She then told me that vendors are refusing to lower their asking prices any more, because they don’t think that prices are falling.

    All I could do was laugh. I’ve given up wasting my breath on telling them how to do their jobs and stay in business…is ramping the only skill EAs posess??

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  • Utterly, completely and totally in denial of the complete collapse in the british banking model. On the day the Uk’s former largest lender to the residential property market announces losses of over TEN BILLION QUID.

    Let’s face it http://www.findaproperty.com is just a WEBSITE. Yes it’s a website that links to all the estate agents that PAY for it’s services through a database ladies and gentlemen, it is not, a physical entity, it is just a business based around a VIRTUAL place and it’s opinions are just hokem.

    The recent ‘stabilisation’ is just utter, utter, VI rubbish. Anyone thinking of buying a property, while no-one can stop you, you are just going to enter at ridiculously dangerous time, when the entire industry that has grown out of the credit/debt bubble are trying to draw you in for a final, tasty and knock-out sucker punch.

    Sucker punch – A sucker punch is a blow which is made without warning or preparation on the part of the recipient and so is usually delivered at a close distance.

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  • Substantial gains in early 2008? Was that measured in asking prices too? Is anything reported here on a mix-adjusted basis? A rise in asking prices could just mean posher houses coming on the market.

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  • Strateshooter says:

    the EAs + property tarts(journos/TV show pundits)are getting deseperate..they don’t want to believe ITS OVER !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
    This financial bust is historic..the end of a 20 tear credit boom in which poured Billions into unproductive hosing and cheap holidays.
    Its over..we are exhausted by debt..and high taxes..and our economy is crumbling. We have seen it coming for a while now folks..and guess what..the TRAIN IS IN THE STATION.
    Central London high property will do well becasue foreign buyers will snap it up cheap as our pound dives.
    Everything else guys..forget it !!. Prices will fall.
    Personally I am gald..at least our kids will be able to have a place to live without mortgae their lifetimes earnings for the privelege.

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  • Speaking as an Estate Agent out of the London Area there are the beginnings of a revival. This could be due to a shortage of stock or due to prices dropping to an affordable level or both but we are finding properties at a the lower end selling quickly. Indeed we have now sold several in excess of the asking price. Please do not take this as estate agency speak I have no need on this website to exaggerate.

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  • Surely we must be at a point were the general consensus amongst people is that rising house prices aren’t actually a good thing. When will these fools start to realise their perceived ‘good’ news is quite the opposite.

    I wonder how much feedback they receive from people discussing that recent HPI has been a disaster. I’m going to drop them a line.

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  • Prices Higher than this time last year…….

    What planet are you on..

    UK down 18%
    US down 21%
    Dubai Down 32%
    Ireland down 25%
    Australia down 18%
    Spain down 30%

    The list goes on forever. These deliberate attempts to mislead by websites like this are bordering criminal neglect.

    Just ask yourself the question, if prices are not dropping like a stone everywhere then how come banks have so far written off loans amounting to 2,000,000,000,000 (2 trillion) pounds in revaluing these assets… 20% down, probaly another 25% to go

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  • Given banks require deposits of 20-40%, sellers requirements are neither here nor there. There are not enough FTBs capable of putting down the deposit.

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  • Massive market manipulation by estate agents, or the UK is still in denial.

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  • This may be the attempt by many to raise prices in anticipation of receiving a lower offer. The prices were already over valued so this policy is doomed to failure.

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  • Oh good!………Back to insanity then!………I was beginning to get worried.

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  • this is a statistical anomaly. asking prices aren’t rising in London, I’d say zone 1 & 2, in the 1-2 bed flat market we’re down about 8-10% off peak on initial asking prices. i’d imagine those properties that actually do sell take a fair bit less than that.

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