Can you explain what 'From £XXX,XXX' means when a house is for sale?

[LadyBiscuit]

I am seeing this a lot lately. In the actual listing it says Price Range: £215,000 - £245,000. Does that mean they will go down to £215k and no lower but really it is only the market from £245k? In a buyer's market is this not a bit bloody cheeky?

[NoseyNooNoo]

I once asked an EA this. She said, the vendors want £245k but will accept only as low as £215k.

I'm not sure it's a buyer's market though.

[LadyBiscuit]

I think that's outrageous - takes all the fun out of it

The market is moving very slowly unless things are priced keenly as far as I can see - it's not like when I last bought where you had to offer asking price or you wouldn't get it

[elvislives]

No it doesn't mean that at all. We put our house on the market last year with an Agent that did this price range. We wanted £173k but thought realistically we'd get £170k. They put it on as Price Range £160k-£180k.

We queried it at the time as we said people would offer the lower figure. We said it was dishonest because we would not take less than £165k under any circumstances. They said "you'll be surprised. People tend to offer at the top end". We thought that was rubbish but they were selling a lot of properties.

The only offer we got was for £160k. The websites that pick up from Rightmove quoted our price as £160k.

After 7 months on the market we took it off, and put it on with an EA who priced it at £167500. Sold it within a week for £165k.

Oh and it isn't a buyers market. I have that on good authority from an EA we were viewing with last week

In your example the people probably want £230k, but we've found here people offering about £20k less than the asking price, and sometimes being accepted.

[BeenBeta]

Never understood people quoting a price range when selling a house. It just shows your buyers what your lowest acceptable price is. They will automatically offer at that.