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To ask about the difference between property asking prices and achieved prices?

(29 Posts)
Flossyfloof Mon 25-Jan-16 19:04:22

Would you generally say that asking prices are higher than prices achieved?
About 10% lower ? I can't find any supporting info for this assumption but I am sure someone on here will know !

mintoil Mon 25-Jan-16 19:08:05

It can vary a lot, and obviously some houses may go for more if there's a bidding war.

In general, I would say between 5 and 10 % less than asking price. If you want to track it, look at asking prices of properties near you, and then look at the prices they actually sold for on Zoopla, several weeks later.

If you don't have time to do this, ask a local estate agent for an overview.

ghostyslovesheep Mon 25-Jan-16 19:12:13

totally depends on the house, area, market etc

mine was marketed at 199500 and sold for 187,500 - but the one I purchased was on at 174,950, dropped to 160,000 and I got it for 150,000

TheWernethWife Mon 25-Jan-16 19:17:06

Selling our house at the moment, large 3 bed house built in 1926 with original features, picture rails, sanded wood floors downstairs, extended kitchen and loft conversion. Trellised and decked courtyard garden. Being regularly offered 20k less than asking price, viewers seem to think they are doing us a favour.

Noodledoodledoo Mon 25-Jan-16 19:18:08

Near me its asking price or about 1-2% below. As others have said I use rightmove and look at sales prices and then sold prices about 3 months later, only tend to look at houses similar to ours to keep an eye on the value of ours - no idea why as not planning on selling!

DrunkenUnicorn Mon 25-Jan-16 19:18:20

We've just bought in December. House was on for 535k and we bought it for 527,500. Our first offer was 515k.

Binkybix Mon 25-Jan-16 19:19:46

Completely varies - ours went for more than asking within one week!

jusdepamplemousse Mon 25-Jan-16 19:20:53

Very dependent on the local market. Where I am most places go for over the asking and we were rejected when house hunting with an asking price offer and no other bids on one place...

Generally you'll find the agents in any given place are adopting the same strategy by and large whether it be list low to get maximum viewings and interest or list high to get the actual monetary value of bids maximised.

What never seems to happen is that places are just fucking listed at a realistic and would be acceptable price! grin

TheSconeOfStone Mon 25-Jan-16 19:24:34

We're just bought a 3 storey 30's terraced house. On the market for £199,950, we offered £180,000 as it was in a scruffy state. Got it for £189,000 so about 5% lower. Totally done up house like that round here would go for about £210,000.

grumpysquash2 Mon 25-Jan-16 19:28:32

In my area, houses tend to go for a token amount under the asking price, like £1k on a £300k property.
But I think it really depends on the area.

Foxyloxy1plus1 Mon 25-Jan-16 19:29:04

A couple of houses ago, ours was on the market for £425- 4 bed, 2 bath, conservatory, utility room. In excellent condition. The first offer was £385, then £395, then £410. We sold at £415.

It was the same buyer each time.

kirinm Mon 25-Jan-16 19:31:46

We are looking in London and as far a I can tell the asking prices mean nothing. Most of the places we've seen were 'offers in excess of'. We offered £15k over and someone else offered £50k over. I literally have no idea what is a 'good' offer because the land registry index takes a while to update as do Rightmove and Zoopla and prices seem to be rising by the week.

Idefix Mon 25-Jan-16 19:32:31

Under the asking price has been our experience. We got the keys to our house at the beginning of the month. Was up for £210000 and we paid £18500 we were lucky to get such a low offer accepted but we're in a good position to move quickly etc.

FeedMyFaceWithJaffaCakes Mon 25-Jan-16 19:35:03

On this topic- can you make offers on new builds?!!

nancy75 Mon 25-Jan-16 19:35:04

in my area (london suburb) most houses sell at or above asking price. The only houses that are slower to sell are in the £2million+ bracket

Peevedquitter Mon 25-Jan-16 19:36:18

Round these ere parts it's usually under asking price but houses also achieve their asking prices. I only know because we have been looking to move for a couple of years.

Orda1 Mon 25-Jan-16 19:37:23

We paid more

Noodledoodledoo Mon 25-Jan-16 19:37:51

Oh and I sold mine for 4% below asking within 2 weeks - could have probably held out for the asking price if I wanted - had had 6 viewings.

I am in the SE so probably has a bearing on the prices.

Orda1 Mon 25-Jan-16 19:38:59

Oh and it was 2 working days after the open day

LadyLuck81 Mon 25-Jan-16 19:39:57

North east ish here and we got ours for about 8% under the offers over listed price

Stylingwax Mon 25-Jan-16 19:40:18

I'm buying a new build. Asked for a bit off and they gave me 1% which was worth 4K so I'd always ask.

TwinkleCrinkle Mon 25-Jan-16 19:44:49

Our area is a strong market with fairly limited stock. We bought our place for asking price. Like a pp said here if you do manage under asking it is usually a token amount. I also think a major point is that sellers don't think in percentages and go 'oh that's only 10% under' they think 'are they taking the piss that's £50,000 under asking!'

LearnItToMe Mon 25-Jan-16 19:45:22

We have bought for: 8% under 2015
32% under 2009
1% under 2005

Wistfulthinking Mon 25-Jan-16 19:47:09

I live in Greater London, in one of the cheaper parts, and we moved in the autumn. We were 1 of 5 over asking bidders on our new house and we also received 5 bids over asking on our previous house and 1 slightly below. We offered 6% over and received a bid that was 10% over on our old house. It went a bit crazy last summer with the majority of houses going over asking in our area.

ceeveebee Mon 25-Jan-16 19:47:39

Another one in an area where property is regularly sold above asking price, often sealed bids - I heard of one recently where there were 12 sealed bids received.

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