glittababe

Not sure whether anyone else has noticed but around Suffolk the market seems to have dropped into another lull. Estate agents are recommending dropping prices by 10k! My sister has had house on market since November refuses to do it and has told me to stay put on the price, however looking at rightmove, everyone else in our price bracket range seems to have dropped theirs which is making ours look really expensive! Tis a confusing time over here! On a positive note, my sofas have been made and delivered (after 3 mths) and they're gorgeous - can't actually sit on them, but at least we have them

blossom

[QUOTE=glittababe]Not sure whether anyone else has noticed but around Suffolk the market seems to have dropped into another lull. Estate agents are recommending dropping prices by 10k!

Hi, I know how you feel, we took the big step today and have reduced our house by 15K - also negotiated the agent down from 1.5% to 1%, he wasn't happy, but I stood my ground. We're in Lincolnshire and the market is definitely slowing up here.

Good luck with your sale whatever you decide, we just want to get out of here now and get settled back into Oz.

Blossom

vickymills

We sold our house in Bradford in Decemeber we had to drop by 10k to get the sale.
But house prices have dropped a bit over here in Brissie so we swapped our 3 bed townhouse in Bradford for a 4 bed detached on decent land size in Brisbane, all for £21k more, not bad really, dont think we'd have managed that property size jump for that cash in the Uk....

teach

Hi,
The market in Newport has been flat for months. So far we have dropped by 10k over the last few months and on Monday we decided that we would pay 5% deposit. If it goes for that it will be a total of 17k drop. The way I feel at the moment I don't care, I just want out of here.
Sarah

Seriously

Why do you put an exclamation mark at the end of 'recommending dropping prices by 10k!' 10k is nothing. Prices have doubled and even tripled in the last few years. Yet all you people leaving the sinking ship are upset because some young person, way down below you in the chain, won't take on a 5 x their salary mortgage to buy a rabbit hutch to live in. Here's a bit of advice. Drop your price by another 25k and you might, just might, get a buyer. If you don't get a buyer in the next couple of months you can kiss your emigration goodbye. In a years time we will be in the middle of a slump. Its starting now - Estate Agents are going broke - some agents are only selling a couple of properties a month - numbers of properties sold in January 2005 was 50% of the number sold in January 2004 (Land Registry figures). You can sit on your hands in denial if you like having convinced yourself your property is 'worth' whatever number you have in mind. Funny how people don't mind being told 'your house has gone up another 50k - whoopee' - never mind that it means a whole generation now can't afford housing or to settle down and have families (and want to emigrate and, of course, can because they haven't got a house to sell) - but, tell someone their house has gone down 50k and they just cannot comprehend, 'I can't see that happening'. Well its happened 3 times in the last 30 years (1974, 1979, 1989) and now, after the biggest asset bubble in history, the biggest crash is here.

spottydog

I'm also trying to sell at the moment and our estate agents are saying don't bother dropping prices since it won't encourage people as they are not even receiving silly offers (well below asking price).

My personal belief is that nobody is going to put in an offer before next weeks bugdet since there has been so much talk about changes in stamp duty and the fact that it costs each UK buyer and average of over £6k in stamp duty alone. It may also be stalled until after an election again due to all the uncertainty.

Plus I probably wouldn't buy in our area at present as it doesn't look that great but once spring arrives and the tress get their leaves, flowers start to come out and the sky isn't permanently grey everyone starts feeling better and more positive about the future.

If it doesn't sell in the next six months I'll probably think about letting it out to one of the many people who are still thinking that prices will drop rapidly so are paying more each month in rent that they would in mortgage and probably cover the costs of my rent in Sydney while I'm at it.

blossom

And you've been here before ! You're not helping anyone so why don't you just **** off!

teach

Ditto

eatstatic

The truth will not go down well here I am afraid, the house sellers here believe they have a god given right to money for nothing at the expense of younger first time buyers. They care not if some poor fool buys their overpriced hovel only to find themselves in negative equity and be financialy crippled for the best years of their lives.

All they care about is if they can buy a pollution machine 4x4 and a gaudy Mcmansion in some god forsaken brain dead suburb once they reach the utopia of OZ . Let them drown in their greed and collective ignorance of asset bubbles and the knock on effects of a major house price crash. Just remenber to visit here in a years time and see the greedy sods cry into their light ale when the crash has really killed their dreams of leaving the "sinking ship". By then they'll knock off 30% to offload their rubbish, problem is no one will want it! How they will yearn for the halcyon days of March 2005 when some poor deluded fool was willing to pay 10% under the "value" of their gaff.

Let em rot!

There is nothing that blinds the masses such as greed and stupidity.

RichS

he might be a bit OTT, but I actually think he may have a point (however rudely expressed).

brisnick

i agree. the same is true over here in oz. i'm hoping for more interest rate rises to bring house prices down to something i can actually buy. the tink another 0.75% will see a reduction of betwen 13% and 25% in house prices. woohoo!

lets face it, after years of growth way outstripping inflation and wage increases there has to be a readjustment. deal with it!

btw, the median house price in brisbane has gone from $144,000 to $332,000 (or thereabouts) in just 4 years! that's a 130% increase. in the same time my wages have gone up a mere 30% (and that's only because i got promoted). that is totally unsustainable!

Badge

I agree. I can't believe people worry(and I'm not even talking about the poster now) about losses of 10-15k here and there. It's nothing when you consider that house prices have increased 150pc doubled/trebled in some places.

Badge

ozzieeagle

Coupled with the absolute fact, that the best time to trade up is on a falling market. One cannot lose then. I've got to admit, that it's a quantam leap of faith, that the market is duplicated however tenuously on a foreign market. But I'm pretty certain the housing market is not racing in an upwards motion !

Nikki

Hi

Having just sold a 2nd property in Manchester, we have accepted £17,500 below the original asking price. The way I see it is some Estate Agents are giving unrealistic valuations, we put our houses on the market expecting it to sell at their price. Reality hits, any viewers you do manage to get in the door are not willing to pay the hyped up price. We could have sold this house 8 months ago at the price we have agreed now, but as we had only just put it on the market, we believed we should hold out for the asking price!

We could have sold then, saved 8 months mortgage payments and alot of heartache, but greed had us by the horns!

I think your price should also reflect the situation of your buyer, my buyer has completed on her sale and is looking to move in immediately, therefore, I was happy to agree this price for the quick sale.

If we get our visa, I think I will be giving my business to the agent with the lowest valuation. If we get nowhere then I will drop rather than be pulled deeper into this inevitable crash....our current agent has told me that there are so many offers on properties at the moment but people making offers have not even sold theirs! They said they had not seen this situation for many many years....another warning sign??

From my recent experience, I would advise anyone haing a problem selling to seriously assess the bottom price they would accept, this has been an expensive experience for me, but I am glad of it because if this sale was holding up my departure to OZ, I think I would have been committed by now!
It has prepared me if we get a positive result and need to sell our home.

At the end we all want the quickest route to Australia, don't we?

Good luck

Nikki

blossom

Sorry, but I don't think people are worrying too much about losing profits, it is the fact that the housing market has slowed up so much that property just is not moving. All the posters want to do is sell and if it means dropping prices then they will if it is a choice between staying or going.

As for the rude poster, he comes on here all the time under different names to say the same thing over and over again, he is getting abolutely boring. And, I think he probably has a big chip on his shoulder cos he isn't in the housing market and therefore cannot make any money! He needs to get a life and stop preying on those of us that have got on with our lives and are now looking to a change with his written diatribe.