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Agent trying to create a "buzz"..?

1 reply

thekaratekid · 02/10/2021 09:32

We have recently sold and moved in the last 6 months. I still haven't quite curbed my rightmove addiction and still get all the alert emails etc (i'll probably never turn them off Grin ).

Something odd that i've noticed is that in our old area there have been a spate of properties all listed at massively (no really...massively) inflated prices. We are talking about very average 4 bed detached houses and all within the same small estate. All listings are for an identical amount and about £150k more than what similar properties in the estate are selling for. Hmm So £600k instead of £450-475k. Houses seem to range from a bit shabby to fully redecorated. Probably atleast 5 houses since the summer.

These houses obviously sit on the market for ages and then disappear never going as "SSTC" or even reduce their price. The following month the next identikit house then seems to appear. Confused

The agent is a regional chain and seems to be doing ok as far as I can tell. What is going on? Is it the agent trying to create a buzz in a certain estate, or just greedy sellers seeing their neighbours house at these massively inflated prices and thinking "I want a bit of that!" I assume a bit of both, but seems odd especially as none of them have sold!

Full disclosure...the house we sold in that area was a 2 bed - so not in the same market at all.

OP posts:
PlonkyWillyWonky · 02/10/2021 11:48

no idea , in our area flats are now called apartments and are going for over a million sometimes
I can't pinpoint why they suddenly shot up in price
Emperors new clothes perhaps ?

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