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AdamB · 23-09-2012, 12:10 PM

Hi All,

Like quite a few on here (probably!) I get daily rightmove etc. emails with new properties being listed in our postcodes/areas of interest. After what was a slow start to the year I notice the pace has picked up with new listings, but I've also noticed much more than previously how many "Reduced" properties there are on the market, and often by quite a few £10k's as well.

Seems Estate Agents are still wanting to ask top dollar for homes, or owners are still greedy, or a combination of the two in that the Estate Agent that says the home is worth the most gets the deal. Of course these homes aren't selling, and the big reductions are happening.

Is this the case in other parts of the UK or are EAs pricing a bit more sensibly?

Mark S · 23-09-2012, 12:27 PM

(23-09-2012 12:10 PM)Adam_B Wrote: Hi All,

Like quite a few on here (probably!) I get daily rightmove etc. emails with new properties being listed in our postcodes/areas of interest. After what was a slow start to the year I notice the pace has picked up with new listings, but I've also noticed much more than previously how many "Reduced" properties there are on the market, and often by quite a few £10k's as well.

Seems Estate Agents are still wanting to ask top dollar for homes, or owners are still greedy, or a combination of the two in that the Estate Agent that says the home is worth the most gets the deal. Of course these homes aren't selling, and the big reductions are happening.

Is this the case in other parts of the UK or are EAs pricing a bit more sensibly?

Hi Adam,

There is a simialr trend in Cardiff, I am always looking to purchase large houses for HMO/Multi Let market. Houses I am interested in often come to the market and ultimately the asking price drops £20-30K before the property is STC.

As these properties generally require HMO mortgage or commercial finance the property is often then put back up for sale as the deal has fallen through.

I use "property bee" App that easily displays any price changes or property status on property portals such as right move.

Cheers

Mark

AdamB · 23-09-2012, 01:00 PM

Hi Mark,

I too use Property Bee and I notice some EAs are now aware of it, in that when they do a price change (downwards!) they somehow delete the details from rightmove and create a new advert so that the original price isn't displayed in PB any more. But on the rightmove emails it still displays the property as being reduced!

Cheers

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