Am I the only one told by estate agent that prices are falling?

[hooliodancer]

We sold our house twice for 475k. First one our buyer dropped out the day before exchange. Second one our seller dropped out, and our buyer didn't want to wait for us to find something else. This was the day of exchange.

Since then we have only had 5 viewings, and an offer of 425k. The estate agent now says we should reduce to 450k, and accept 440k as the market is plummeting!!! He said the only houses selling are ones who take low offers.

I haven't heard this anywhere else though! We have actually now decided to rent it out, so it's academic. But I'm curious to know if others are finding this?

I am in the South east, but not London.

The market is definitely slowing down. Houses where we live used to last 24hours on Rightmove but now some have been on there for months. Although obviously anything that is priced to sell, will sell.

I'm in the South East and I think here the market is slowing down and prices generally starting to fall too. We're on the market and are intending to move to the neighbouring town, and having been obsessively checking Rightmove recently to see what's on the market in this town, the same houses often seem to be on there for weeks / months. And there's not as many new houses coming onto the market either.

Shooting up here in the last few months (NW). Some ridiculous pricing going on and selling!

I'm London (popular leafy area with excellent schools) and 1 neighbour just sold for £30k less than they bought for in 2014. Another neighbour has had their home on the market since Easter and has been told by his estate agents the market is really slow, they've decided to rent (they work overseas so have rented out in the past) and have been told the rental market is also falling and they are unlikely to get the same rent as they got 18 months ago.

South east and prices are falling, existing houses on market are cutting prices too. We've just offered and had accepted £255k on a 3 bed terraced house (large though), but others the same or less good were on for up to £275!!

South east here and the market looks to be stagnant. In our village the same 9 houses have been on the market for months. Nothing new has come on at all for months either.

I'm glad we aren't looking to move!

East Midlands - our immediate area has gone up but local secondary has just been announced best in the city.

Elsewhere stuff seems to be hanging around a bit longer with a couple of price drops but prices are still ridiculous! I think a flattening of the market can only be a good thing but I hope there's not an enormous crash.

Everything is selling round here but then I think things are being put on for a reasonable price. Perhaps the original price was top end and the suggested revised price is more realistic. Plus the estate agent at this point just wants his commission!

Im in north west and ive given up looking to move to a bigger detached as prices are silly and go quite fast.

We really liked a newer property in a road of similar 'executive' (wanky term) homes. It was on at £575k when a similar property sold price of 6 months ago was £480k and one sold a year ago for £400k. I was 😵 when it sold for asking price.

It sounds like a ripple effect from people's posts. Expensive London and south east stagnated or falling, but rest of the country busy and rising. Not quite sure what that means and where we are in the economic cycle. When all the other areas become stagnant as well is it all fall down?

We're in the north west too. The prices are crazy. Round by me the last two houses sold in just 2 days and 6 weeks!!

Just looked on right move. Prices have fallen in Surrey, dramatically.

Prices are certainly not falling here (South East). Certain types of houses are being snapped up very quickly, often at full asking price. Others, which could be described as more quirky properties, are staying on the market for a long time. Is there a chance your house was overpriced to begin with, rather than prices falling generally?

How do you find that out Oblomov?

London Essex borders here and there are many reductions and things hanging around for ages. Hardly anything coming on the market but hoping that's just holiday season as we need to move.

Looking at Rightmove regularly where I am (Midlands), nice houses are being snapped up no matter the price. The ones that seem to have been up for sale for ages seem very overpriced for very little space and nasty decor so would need quite a bit of work doing to them.

Looking at Rightmove regularly where I am (Midlands), nice houses are being snapped up no matter the price. The ones that seem to have been up for sale for ages seem very overpriced for very little space and nasty decor so would need quite a bit of work doing to them.

South east and the market is dead - have been trying to sell for ages and have now decided to give up and wait until things pick up.

I'm in Surrey and things have definitely cooled.
I think unfortunately properties are still being priced unrealistically in the first place and whereas before the Market then seemed to catch up by other house being ridiculously over priced. Because not much is coming on the odd house looks ridiculously expensive for what it is.

I am actually really pleased and we need probably a couple of decades of stagnation to make property even slightly affordable.
However interesting that pp who haven't been able sell for what it is 'worth' are renting out. People doing this definitely inflate the Market. I'm not judging btw just commenting.

Depends where in South east you are. I'm south east and market around is still doing well. Some houses being reduced but in truth they were overpriced in many cases as other houses are being snapped up with days of going on the market and that's at good prices for the seller's. Some harder to sell houses are struggling but that's because there's a lot on offer round here

Depends on where you are. We are in outer SW London and prices have definitely stalled or are coming down a bit. Ditto in Oxford, where both dds are. But then in both these areas prices had gone so crazy, there was bound to be a falling off at some point.

Back in 2010/2011 I was looking with a dd at 2 bedroom period maisonettes in a not-fashionable area of SW London.
The exact same maisonettes that were selling for £250-275k then, depending on condition, were priced at £500-575k by last year.

This sort of thing is just not sustainable. And I suspect that mortgage lenders' valuations will be having an effect. There is a lot of talk of Brexit being the cause, and I dare say that is a factor, but IMO a lot of it is to prices simply being unaffordable for so many.

Lots of reductions down here in the SW but also not much coming on. I have quite wide search parameters (just nosy, not actually looking to move) covering about a third of Cornwall at £120-£180k and I'm getting max two alerts a day, some days nothing at all. When I was buying in 2014 I was getting loads of alerts for a much smaller area.

started at 375k and getting offers of 300k. Listed at 360k now but not holding my breath. Thankfully don't need to sell but feel for those who do.

If you don’t need to sell, why is it listed? Why are you wasting people’s time?

North Yorkshire here and two/three bed Victorian or Yorkshire stone terraces are vastly overpriced in our local town (30% price increase in the last three years) and generally sold within seven days £200-£250k ish.

Next price bracket up takes a bit longer to shift, I am watching the house market keenly as I would really like us to downsize in the next 12 months but am looking at that next price bracket and there isn't much about, what there is has been sitting there since the beginning of the year because it is overpriced.

user maybe because they'd like to sell

Are people only allowed to list their house if they have to sell??