Can you explain what 'From £XXX,XXX' means when a house is for sale?

[LadyBiscuit]

I am seeing this a lot lately. In the actual listing it says Price Range: £215,000 - £245,000. Does that mean they will go down to £215k and no lower but really it is only the market from £245k? In a buyer's market is this not a bit bloody cheeky?

I once asked an EA this. She said, the vendors want £245k but will accept only as low as £215k.

I'm not sure it's a buyer's market though.

I think that's outrageous - takes all the fun out of it

The market is moving very slowly unless things are priced keenly as far as I can see - it's not like when I last bought where you had to offer asking price or you wouldn't get it

No it doesn't mean that at all. We put our house on the market last year with an Agent that did this price range. We wanted £173k but thought realistically we'd get £170k. They put it on as Price Range £160k-£180k.

We queried it at the time as we said people would offer the lower figure. We said it was dishonest because we would not take less than £165k under any circumstances. They said "you'll be surprised. People tend to offer at the top end". We thought that was rubbish but they were selling a lot of properties.

The only offer we got was for £160k. The websites that pick up from Rightmove quoted our price as £160k.

After 7 months on the market we took it off, and put it on with an EA who priced it at £167500. Sold it within a week for £165k.

Oh and it isn't a buyers market. I have that on good authority from an EA we were viewing with last week

In your example the people probably want £230k, but we've found here people offering about £20k less than the asking price, and sometimes being accepted.

Never understood people quoting a price range when selling a house. It just shows your buyers what your lowest acceptable price is. They will automatically offer at that.