BOOM: House Prices

[jamesbrown]

It was just over £1M

OK, that's probably a bit ambitious then

[WTFH]

I guess you need the asking price for context... obviously not £250k off a £500k house or probably even a £1000k house, but 20% off £1250k is not beyond the realms of plausibility.

It was just over £1M

[jamesbrown]

A friend of mine has just had his chain collapse because one of the people up the chain from them asked for £250k off the price due to the market. Their vendor was going to accept made £15-20k off, but not a quarter of a million.

I guess you need the asking price for context... obviously not £250k off a £500k house or probably even a £1000k house, but 20% off £1250k is not beyond the realms of plausibility.

[WTFH]

A friend of mine has just had his chain collapse because one of the people up the chain from them asked for £250k off the price due to the market. Their vendor was going to accept made £15-20k off, but not a quarter of a million.

[jamesbrown]

Crashy, crashy.

[Dark Black]

Properties around here still coming on at ever inflating prices...

A few weeks later, large reductions noted on the adverts for said properties....

[willendure]

Surely setting up for a bubble - often the biggest and most ridiculous price rises come right before a bubble bursts. This one will burst with interest rates going up, buyers are simply not going to be able to offer that much.

I own a few houses, but honestly I'd still prefer if the price came down. After all, I might want to buy another one!

[AtW]

“Sellers are demanding record amounts for their homes, apparently ignoring economists’ forecasts of an imminent fall in house prices.

The average price of a property coming to market has risen by 0.9 per cent this month to a record £371,158, according to Rightmove, the online property portal. That is the strongest monthly rise since May, although less than half the level of price inflation at the start of this year when cheap mortgages and the “race for space” drove the market up.

House prices are 7.8 per cent higher than they were this time last year, compared with 8.7 per cent in September. Back in the spring, the annual rate of house price inflation was in double figures. Affordability for would-be buyers’ has beenstretched by runaway house prices and that has been worsened by rising mortgage rates and the cost of living crisis.”

https://www.thetimes.co.uk/article/h...lump-kmzk2gppf

Some things never change…