How are House Prices doing around you?

[mumofanoxonian]

And where do you live?

Essex- Still selling but some areas are dipping in prices and things are slow. We bought last year and are currently sitting on a house decreasing in value (always the risk) but its not drop by enough to concern us! We are planning to stay for at least 4 years anyway

North West doing well it always does in the spring. Come late autumn and through the winter is pretty bleugh.

Prices have gone down in our area (London zone 2), it took us 8 weeks to find a buyer and we sold for 8% under initial asking price. There are lots of people looking at properties like ours (ex-la flat) and we had more than 30 viewings, but the buyers seem to take their time. Saying that our buyer made an offer having only seen our place once.

Lots of people seem reduce the asking price fairly quickly, as did we after a month. The ones who don't get stuck on the market for months. There is someone who's been trying to sell a flat on our street for more than two years and have reduced the price 6 times! It's still much too high mind you.

Dimmu we are trying to sell our ex LA one bed, I find it's much harder than if it were a privately owned block, I'm hoping ours sells, we are priced the lowest as there are 3 others on the market. Most stressful experience ever!

South Manchester. Prices still steadily rising. Properties are selling in days. DD didn't even get through the door to view two properties because the owner had accepted full asking price. The one she eventually bought was full asking price and pretty sure if she had waited for a second viewing it would have been snapped up by someone else.

@Ellieboolou27 I have to say our experience was the same as yours. We ended up pricing 10k below any other similar size properties nearby, and in the end accepted an offer 10k below that. We had lots of viewings but most people were put off by the estate rather than the flat which was so disheartening as it was beyond our control.
The EA kept saying as we are getting the viewings the likelihood is high that someone will come along who likes the flat enough to ignore the surroundings. They were right even though it meant selling for less than we were hoping for.
Are you getting viewings and how long have you been on the market? It took us 8 weeks to find a buyer.

West London, prices have dropped on our street from 750k to 700k approx. since Brexit nonsense started, about 7%.

Dimmu we are going in the market in the next few days, the council were due to buy it back in October then we only found out last week they list finance so pulled out, flat is now empty and to make matters worse there are travellers who have set up site in the private land opposite the lowest asking is on the market for 250k we we're putting our on for 245k even though lat year it was valued by council at 280k
It's been such a stressful six months- we just want rid of it now, but financially we are really struggling

Just outside Reading.

We sold and purchased our current home last January/February. Our house sold in 4 days for full asking price however it took us a month to find something else as there was limited stock. Ended up buying at full asking price as well.

A year on, we definitely would have sold at less, and our house may be just about worth the same now, although it was cheap for how much we paid at the time.

3 bed semis were going up at around 400k last year, now they are around 350k.

Oh no sorry to hear about your situation @Ellieboolou27 how disappointing that the council couldn't buy back after all. Fingers crossed the right buyer comes through the door quickly!

NE London

Properties are selling really slowly, I just bought a flat that had been on the market since early January, I managed to get it for 12% under the asking price.

Essex, very stagnant, quick look on rightmove and within 3 miles of me over half the prices have been reduced and property’s have been on for months.

Sold in London/Essex for about 10% under 2016/17 prices.
Buying up North and there's very little coming on to the market and those that are listed sell quickly well above asking

Thanks Dimmu
I think laws should be changed regarding house buying. It shouldn't be so risky and financially/ emotionally draining.
Good luck to all the buyers and sellers