Few viewings and no offers - it's the time of year, right?

[Amethyst24]

DP's flat has been on the market for a few weeks now with barely a sniff. It's a 1-bed in zone 3, in pretty good condition although it's been tenanted for a few years (tenants have now moved out). Was originally priced at offers over £250K but dropped now to £249.950. Seems on a par with others on the market in the area - competitive if anything.

So am I right in thinking that the market is just really slow at this time of year? We're considering giving the agents a week's notice in the hope that they'll make a massive effort in that time, then taking it off the market until the new year and getting valuations from other agents now we're not facing the issue of the stamp duty threshold.

Also wondered whether putting in a new kitchen might help (it's the only thing in the flat that is really dated). But then people would potentially be viewing it when there's work being done and it's a mess, and if the new kitchen wasn't to their taste it might put them off...

Any words of wisdom?

Must checkout surrounding areas too

Evening Ron! Have you heard the good news about the employment figures?

''House prices fall by £30,000 in just four weeks in some parts of UK''

What you mean the sanctions or the zero hour contracts

Or maybe you are referring to the 16hr part timers, that cost taxpayer more than they will pay in tax in 2 lifetimes
Or the self employed that escape dole office persecution by going self employed to get their dole money in a form of tax refund each week
It's the economics of a madhouse and I gave up believing in state media statements after they put IDS in charge of a dept

Ministry of plenty announce mice now suffer from rickets and they spend their benefit on fags blah blah

sorry good evening
I was just checking to see if there were any more Ministry of Plenty announcements

Mitcham just up the road from ops flat

This is from today's Guardian business section

The biggest discounts have been made by sellers in Mitcham, south London, where prices have been slashed by an average of 9.2%, or £55,606,

[fgrin ]

Oh we've just been exceptionally lucky this month when we've just sold our flat in Mitcham for £10,000 more than we marketed it for because buyers were fighting over it, have we Ron . ?

Yes you have escaped by a cats whisker
I liked Mitcham in the 60s, I lived in Steers meade

I used to like box hill too, and the common, cricketers pub

I think some of the buyers in London lived in Tooting bec asylum once
They all played monopoly as children

Dont tell me they closed it

All the inmates escaped

Cough

Surely the average discount thing can be a bit meaningless when you have lots of multi-million pound properties on the market because when so many millions are involved they skew the average. Add to that the fact that often the high end properties are the ones where the vendor tries it on with crazy prices (or so it has appeared lately).

The reductions (not discounts) are in so many parts of London
From what I am seeing ,it's a huge proportion of properties too 45% in some parts

What was an orderly queue of the clever money is developing into a stampede .Even ruffians are screaming wheres the Fa@@ing exit

Don't forget that Rightmove stats are done on the original asking price (so not taking into account any subsequent cuts in asking price) so the reductions may be even bigger than reported! The December land registry figures should be interesting...

The Boxing Day sales were yesterday. Time to start cutting the price pretty aggressively if the OP wants to sell this flat.

Especially now that we know that the growth figures for the last 4 months were not what we were told. That is bound to affect buyers sentiment

Reduce it very considerably now, or you will chase the market down big style.

Well, falling prices would still be in my favour. We have a home we can live in forever (zone 2/3 borders 4 bed detached so big enough to raise family in) and the mortgage should be paid off within 3 years. We will be diversifying into property if the prices are right, so a slow fall would coincide nicely with the coffers being built up again. Still don't think you'll get your major crash though roneik!

The scary facts are that the masses are realizing we cannot believe or trust what a bunch of self-serving fingers in the pie MPs or government say anymore.

We are moving into fear phase, this generates some panic amongst the sellers.

They can mostly see that we have been listening to a regulated , timed bull
spin machine. A gamble with some factual and distorted fact and lies too boot

Crash mode is the outcome , what will be the end result this time does not bear thinking about

Roneik, what is your problem - you are the Attila the Meercat of the alcoholism posts - there must be a reason for your obsessive interest in property topics. Have you had your fingers burned/missed out on the property good times?

Have you been obsessively following my threads?
It's normal to be concerned when the housing market may bring down the economy
You may surf sites for drinking problems and know the posters on them, I don't as I don't have a problem

Now come back when you have something to post worth reading .

I was going to make a comment about your IQ but I wont as it would then be as child like as your post.

Any more overstretched victims wishing for advice, it's the citizens advice that you need.

Ah, I see that I have hit a nerve.

There is a difference between being concerned and being a prophet of doom. You come across as someone who is angry and bitter at life and I was just wondering if the reasons were related to your property purchase(s), as you profess to know a lot about the property market.

FWIW, I agree with some of your observations, and prices in some areas of London have already dropped by about !0-!5% (if you look at Zoopla and click on 'most reduced', it is very reveaing). However, I don't expect that they will drop much further or entirely 'crash', as you predict, although they may stagnate for a while. But that is London; other parts of the country are still below the 2007 peak, as I think a previous poster pointed out.

I agree with laracette- ronik you are coming across as a bit obsessive, like a conspiracy theorist. If you really have been predicting a crash since 2005 that's a little sad and obviously your prediction will come good in that time. As previously mentioned it's quite common economic theory that there is a dip every 7 years- I learnt that in a level economics in 2000, as a teenager, so you're not quite the "seerer" are you?

To Begin with I thought you sounded like a typical move out of Londoner who can't believe the property prices from afar. But this is seriously strange and if I were you I would
Be concerned as to how much of my brain this is taking up.

I have not been predicting since forever. I predicted the banking crash and sold out to escape the crash. Now at this time since the whole thing is repeating itself. The difference this time is it is more leveraged than then. Also salaries and wages have not moved. Europe has reached almost deflation. I am not obsessed by anything, but I don't bury my head in the sand and think it will all go away by itself. Of course those that have leveraged themselves are worried you can see that everywhere.I would imagine that quite a lot of people are seeing things the way I do at this time.
It wont end well, no matter what tantrums and toys out of the pram antics you display

But why do you think other people think it will last forever? No one has said that. They're not all stupid, I have no idea what makes you think people are burying their head in the sand. Getting on with their lives maybe?