Monday, Dec 17, 2018

It's only asking prices

The Guardian: Housing market: average UK asking price dips £10,000

Normal fare really. Price falls in London ripple out. It's nice not to see the usual "fundamentals remain strong" for a change though.

Posted by crash bandicoot @ 12:40 PM (1068 views)
Add Comment
Report Article


1. britishblue said...

What Rightmove and Halifax don't really capture is the deals done without a mortgage. Being in the industry, most of the transactions I have seen go through without a mortgage have been at a 15% discount on the previous year. This is only in London, but it is substantially more than shows up in the official figures.

Tuesday, December 18, 2018 08:48AM Report Comment

2. mombers said...

@1 good info. Makes sense that people accept less from cash buyers. So many things can wrong with in a chain or with an offer contingent on the buyer getting an oppressive mortgage, I sold both of my flats chain free, accepting slightly lower prices than chained offers. Aiming to be chain free when we (hopefully!) move in 2 years, even if it means a year back in the dreadful private rental sector

Tuesday, December 18, 2018 09:51AM Report Comment

3. judgandury said...

The Land Registry shows data for house sales (2 month lag) whether or not there is a mortgage involved. Can't see any evidence of YOY 15% falls in London for houses with or without a mortgage.

Wednesday, December 19, 2018 03:01PM Report Comment

4. tenyearstogetmymoneyback said...

judgandjury - The Land Registry data doesn't give any indication of whether a sale was for cash or a 95% mortgage.

I wonder what percentage of house sales are for cash.

Saturday, December 22, 2018 11:32PM Report Comment

5. judgandury said...

It does actually. The Land Registry publishes The "UK House Price Index" which separates out cash sales (funding status section). Cash sales are currently running at 38 percent of all UK sales. It's in beta at the moment but beta members can see the data. The Halifax also publish a cash sales percentage as do several other data services.

Sunday, December 23, 2018 08:15AM Report Comment

6. stillthinking said...

Why do people accept less from cash buyers? I can understand plumbers etc doing it to avoid tax, but surely for housing for the seller doesn't care whether the money is from a mortgage or cash.
Is it just because they are less likely to drop out? Or because being in a chain that might fail? You don't have to tell the seller your circumstances so everybody could pretend to be a cash buyer, how are sellers meant to find out your private financial information?

Tuesday, January 1, 2019 01:01AM Report Comment

7. mombers said...

@6 in my case in South Africa the conveyancing system is a lot more simple and crucially has binding contracts a lot earlier on. A mortgaged and/or chained buyer will put in an offer which says subject to mortgage approval and/or sale of current home, buyer will complete. The offer is only accepted if the buyer stumps up 5% or more into escrow. The buyer and seller are then bound, with the deposit forfeited (and further damages can be secured in court even) if the buyer pulls out for any other reason. A cash and/or chain free buyer will not have those terms in the contract.

Wednesday, January 2, 2019 02:51PM Report Comment

Add comment

  • If you do not have an admin password leave the password field blank.
  • If you would like to request a password allowing you to add comments and blog news articles without needing each one approved manually, send an e-mail to the webmaster.
  • Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
  • Please note that any viewpoints published here as comments are user's views and not the views of
  • Please adhere to the Guidelines
Admin Password
Email Address

Main Blog | Archive | Add Article | Blog Policies