House Prices #3 Property market, buying and selling

[Yel]

It's totally to be expected that there's a surge in new property listings where they pretend the whole market hasn't changed. People often go with the agent that overvalues and are greedy so all hope there's that one cash buyer that will overpay.

"My house was worth 360k earlier in this year, I will not accept a penny less! I'm not going to give it away for 320k!"

Quite a few reductions around here like the below, I bet in a couple of months all the people trying their luck will start to reduce.

 

[Esbeepea]

It's totally to be expected that there's a surge in new property listings where they pretend the whole market hasn't changed. People often go with the agent that overvalues and are greedy so all hope there's that one cash buyer that will overpay.

"My house was worth 360k earlier in this year, I will not accept a penny less! I'm not going to give it away for 320k!"

Quite a few reductions around here like the below, I bet in a couple of months all the people trying their luck will start to reduce.

View attachment 1833240 q

Can I ask where you get the house price change history from? I can see what people have paid on RM but wasn't aware the actual listed prices were tracked and published also.

 

[Yel]

It's a new one to see so many new listings on the 26th.

If that's the supply increased and demand decreased (as lending is harder and people are less likely to buy while they're falling) then it could be a rocky few months.

Yesterday was a record for the number of reduced properties

Can I ask where you get the house price change history from? I can see what people have paid on RM but wasn't aware the actual listed prices were tracked and published also.

It's an extension for chrome called property log - https://chrome.google.com/webstore/detail/property-log/jccihedpilhidcbkconacnalppdeecno

It works on users browsing right move automatically sending the data to them to centrally log it

 

[Folkevermore]

I noticed girl I used to to work with listed her three bed semi detached for offered over £295,000 in September, it then went down to £285k in October, £275k in November, before being removed from Rightmove.
Just went back up for £250k.
Her house is nice and modern too; it definitely seems like the market is falling

 

[OnlyHereForTheLolz]

Saw house prices in my area are going up! Madness but we are on a popular route to London

 

[Joannabloggs]

You know what I would love to see is two average prices
1. The average asking price eg 370k
2. The average sold price eg 330k

That way we could all see that houses are selling for e.g. 12% below their asking price. There are too many sellers asking for dumb prices when really and truly us and the estate agents know it isn't going to sell for that much.

I own a one bed and I keep getting estate agents leaving leaflets telling me I could sell up and get an extra 60k for what I paid 5 years back and I just don't believe them. I was born and bred in this part of london and I honestly think you'd have to be a mug to by my place at that inflated number

 

[Bobbleowl90]

We sold 18m ago and living at parents since as we’ve been out priced or just not seen anything we like. Going to view a house this week and it’s perfect so far from the listing - minimal work required, good size and garden, close to good schools. However, there is no parking. Anyone else live like this and manage ok? We have a toddler and a baby due in 6 months so we are pretty desperate to be honest and I wonder if I need to drop some expectations or stay living with my dad forever

 

[Clover123]

We sold 18m ago and living at parents since as we’ve been out priced or just not seen anything we like. Going to view a house this week and it’s perfect so far from the listing - minimal work required, good size and garden, close to good schools. However, there is no parking. Anyone else live like this and manage ok? We have a toddler and a baby due in 6 months so we are pretty desperate to be honest and I wonder if I need to drop some expectations or stay living with my dad forever

Do you mean no off road parking or no parking at all?

 

[Bobbleowl90]

Do you mean no off road parking or no parking at all?

There’s no parking at all it seems. Done a Google map view and there’s private allocated parking for some addresses but no mention of this on the listing, which makes me think there’s no parking If there’s an allocated space, it’s not directly outside the house. If there’s none at all it’ll be a definite no, but does anybody manage with parking directly away from your door?! We really are desperate to find somewhere but scared of making a mistake.

 

[Yel]

You know what I would love to see is two average prices
1. The average asking price eg 370k
2. The average sold price eg 330k

We kinda already get this, right move report average house prices which is just the average asking prices then the banks and land registry report on the sold prices. Although the sold prices are fiddled a bit to remove auction properties and repossessions.

Somone I know the other day was talking about X where they live is different and houses are still flying off the shelves. I looked up that area on right move and the number of recent reductions somewhat debunks this. They might have seen something sell quickly, but they've no idea how close it was to the asking or even if it will go through.

 

[Notworthy]

We sold 18m ago and living at parents since as we’ve been out priced or just not seen anything we like. Going to view a house this week and it’s perfect so far from the listing - minimal work required, good size and garden, close to good schools. However, there is no parking. Anyone else live like this and manage ok? We have a toddler and a baby due in 6 months so we are pretty desperate to be honest and I wonder if I need to drop some expectations or stay living with my dad forever

My 2 redlines are off street parking and southish facing garden. I wouldn't buy if i didn't have parking

 

[Meg78]

There’s no parking at all it seems. Done a Google map view and there’s private allocated parking for some addresses but no mention of this on the listing, which makes me think there’s no parking If there’s an allocated space, it’s not directly outside the house. If there’s none at all it’ll be a definite no, but does anybody manage with parking directly away from your door?! We really are desperate to find somewhere but scared of making a mistake.

Truthfully I wouldn’t consider it with small children, it’s hard enough getting them into a car on the driveway, I can’t imagine shepherding multiple kids down the road and clipping them in safely every day

 

[Yel]

House prices in Dublin (aka the most expensive city in the EU) seem to have started to fall, just about wiping out the rise from q3 in q4. But probably the start of a trend.

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House prices fall slightly in Dublin city as interest rates and energy costs bite

Rising interest rates and higher energy costs have combined to cause the average price of a three-bed semi-detached house in Dublin city to fall for the first time in three years, according to the latest data from an index maintained by the REA real estate group.

Nationally, the price of a three-bed semi-detached house rose by 0.36 per cent during the last quarter of the year, to €291,667. This brings the annual price increase to 8 per cent.

The forth-quarter figures from the REA Average House Price Index show house prices in Dublin fell by -0.34 per cent in the period.

House prices fall slightly in Dublin city as interest rates and energy costs bite

Last quarter figures for 2022 show ‘less frenzied’ market for semi-detached homes

www.irishtimes.com

 

[Clover123]

There’s no parking at all it seems. Done a Google map view and there’s private allocated parking for some addresses but no mention of this on the listing, which makes me think there’s no parking If there’s an allocated space, it’s not directly outside the house. If there’s none at all it’ll be a definite no, but does anybody manage with parking directly away from your door?! We really are desperate to find somewhere but scared of making a mistake.

That sounds like a nightmare! I wouldn't go for that. I have on road parking and manage well because I don't use the car much. But no parking at all would be really difficult with food shopping etc.

 

[Holidaybobs]

Truthfully I wouldn’t consider it with small children, it’s hard enough getting them into a car on the driveway, I can’t imagine shepherding multiple kids down the road and clipping them in safely every day

Would add to this, my friend lived in a rental with two small children that had on street parking. It was an absolute nightmare trying to get them both out and get the buggy whilst watching for cars etc. Also, some neighbours became very territorial over certain spots.

I know it’s easier said than done but, I’d hold out if possible

 

[Bobbleowl90]

Thanks guys. We drove past and I think parking may be hidden at the rear but it’s a little dirt track so didn’t want to venture on! Estate agents are getting back to us. It’s honestly bloody perfect without the parking situation so here’s hoping!!

 

[margaretta]

Thanks guys. We drove past and I think parking may be hidden at the rear but it’s a little dirt track so didn’t want to venture on! Estate agents are getting back to us. It’s honestly bloody perfect without the parking situation so here’s hoping!!

Only to add that parking is a dealbreaker imo.
You might think yes its okay, but it will niggle at you and really get you down.
If its on street parking, that could be okay as long as the road isn’t already nose to tail parked up and doesn’t have any major parking restrictions
- you want people to come and visit you too!

If you’ve got a front garden, do any of the neighbours have a dropped kerb/turned their garden into off street parking? Also check the planning portal on the local council’s website to see if neighbours have it approved/refused and how much it costs for permission.

 

[WeepingCassandra]

No parking would be a deal breaker for me.

 

[SharkAttack]

No parking is a big deal. Not just when your children are small, but as you get older - there are always times when you just need to park right by your house.

This would be a deal-breaker for me - and like a PP, my other must-have is a south-facing garden. Once you've had one, you'd never consider anything else.

 

[Anne1448]

We sold 18m ago and living at parents since as we’ve been out priced or just not seen anything we like. Going to view a house this week and it’s perfect so far from the listing - minimal work required, good size and garden, close to good schools. However, there is no parking. Anyone else live like this and manage ok? We have a toddler and a baby due in 6 months so we are pretty desperate to be honest and I wonder if I need to drop some expectations or stay living with my dad forever

No parking is a nightmare

This means that people who come to see you have nowhere to park and neither do you for your everyday needs (groceries, putting baby in the back, doing a quick errand).

Unless you have access to all amenities (hospital grocery store, pharmacy, public transportation) at your doorstep and will never use your car, I would ignore this house.