Can anyone explain this?
#1
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Can anyone explain this?
I have been thinking about this for a little while now.
Why the difference?
Are people really buying property for a big discount?
Rightmove’s current average asking price for a property new to the market is £234,858.
The latest national house price survey, from Halifax, puts the average sales price in September at £159,486.
Is there a simple explaination?
Why the difference?
Are people really buying property for a big discount?
Rightmove’s current average asking price for a property new to the market is £234,858.
The latest national house price survey, from Halifax, puts the average sales price in September at £159,486.
Is there a simple explaination?
#3
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The asking price versus the actual selling price has been at this gap for about 5 years now ..... I con't figure out what's happening.
I track houses and they are not selling for the discounts needed to throw up this anomally.
I must be missing something (I am getting rather elderly now!).
I track houses and they are not selling for the discounts needed to throw up this anomally.
I must be missing something (I am getting rather elderly now!).
#4
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I wonder if its a case of many young couples wanting new build houses as opposed to the older terraced/semi's?
My poor ******* of a cousin is trapped. Knocked up his supposedly infertile Mrs when she was 18. House next, oh no the nice semi round the corner from me wasn't sufficient. A new build in a similar area was required at more expense for less land
My poor ******* of a cousin is trapped. Knocked up his supposedly infertile Mrs when she was 18. House next, oh no the nice semi round the corner from me wasn't sufficient. A new build in a similar area was required at more expense for less land
#6
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There are a lot more smaller cheaper houses sold per month hence the average selling price is lower.
10 houses at 100k each and 10 houses at 200k each for sale. Average for sale price is £150k.
Only the 10 houses at 100k sell during the month, average sale price is 100k.
10 houses at 100k each and 10 houses at 200k each for sale. Average for sale price is £150k.
Only the 10 houses at 100k sell during the month, average sale price is 100k.
#7
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I have been thinking about this for a little while now.
Why the difference?
Are people really buying property for a big discount?
Rightmove’s current average asking price for a property new to the market is £234,858.
The latest national house price survey, from Halifax, puts the average sales price in September at £159,486.
Is there a simple explaination?
Why the difference?
Are people really buying property for a big discount?
Rightmove’s current average asking price for a property new to the market is £234,858.
The latest national house price survey, from Halifax, puts the average sales price in September at £159,486.
Is there a simple explaination?
It obvious that people are buying houses that are bigger than the average price hence why they are more expensive. Not everyone wants a little box house.
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#8
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I don't understand your reasoning ..... someone buys a £800,000 house and that doesn't pull the average asking price up nearer the average asking price?
New homes are more expensive than older homes anyway.
Surely, the actual selling price should sit around 10% less than the asking price? As an average, that is.
New homes are more expensive than older homes anyway.
Surely, the actual selling price should sit around 10% less than the asking price? As an average, that is.
#9
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It is the average of all houses on the market in say september.
The listing price of the 20,000 houses put on the market in the month vs. the average selling price of the 10,000 houses sold in the same month. You are not looking at the average asking price of the houses sold in the month.
The listing price of the 20,000 houses put on the market in the month vs. the average selling price of the 10,000 houses sold in the same month. You are not looking at the average asking price of the houses sold in the month.
#11
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I don't understand your reasoning ..... someone buys a £800,000 house and that doesn't pull the average asking price up nearer the average asking price?
New homes are more expensive than older homes anyway.
Surely, the actual selling price should sit around 10% less than the asking price? As an average, that is.
New homes are more expensive than older homes anyway.
Surely, the actual selling price should sit around 10% less than the asking price? As an average, that is.
Its the avergae house that is priced at say £160k if people suddendly just bought £800,000 houses it wouldn't push the national average up as they are just buying more expensive houses. Your logic seems to be that if they are selling £240k houses so that must be the average? The average is the average irespective of what people are buying.
#12
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You're saying that people are only buying £160k houses - yet the average for sale is £250k?
That would make sense ..... thing is, £250k houses are selling too.
That would make sense ..... thing is, £250k houses are selling too.
#14
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I have been thinking about this for a little while now.
Why the difference?
Are people really buying property for a big discount?
Rightmove’s current average asking price for a property new to the market is £234,858.
The latest national house price survey, from Halifax, puts the average sales price in September at £159,486.
Is there a simple explaination?
Why the difference?
Are people really buying property for a big discount?
Rightmove’s current average asking price for a property new to the market is £234,858.
The latest national house price survey, from Halifax, puts the average sales price in September at £159,486.
Is there a simple explaination?
I just don't know what it is
#16
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#17
Slightly off topic but I'd never buy a new home (on a new estate) due to the required quota on Affordable Housing. You could end up in a decent 4 bed and have scumbags next door in a cheap flat claiming benefits..
Plus the roads are so narrow that you can't get two way traffic through without kerbing your alloys, it takes half an hour to get off the estate due to speed bumps, and there is only parking for one vehicle so you have to live on your own and have no visitors.
Nick
Plus the roads are so narrow that you can't get two way traffic through without kerbing your alloys, it takes half an hour to get off the estate due to speed bumps, and there is only parking for one vehicle so you have to live on your own and have no visitors.
Nick
Last edited by skoobidude; 08 October 2012 at 11:14 PM.
#18
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You're right there ... new estates need a certain number of 'Social Housing' .... the builders claim they are for Nurses, Teachers, Firemen, and other public sector workers!
Which, of course, is a lie .... what they are for is for those for whom the Council Estates provided for in the past.
Now, generally, these people live by a different moral code than the rest of us ...... they should be seperated from those buying their own home and making progress in their lives.
Which, of course, is a lie .... what they are for is for those for whom the Council Estates provided for in the past.
Now, generally, these people live by a different moral code than the rest of us ...... they should be seperated from those buying their own home and making progress in their lives.
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You're right there ... new estates need a certain number of 'Social Housing' .... the builders claim they are for Nurses, Teachers, Firemen, and other public sector workers!
Which, of course, is a lie .... what they are for is for those for whom the Council Estates provided for in the past.
Now, generally, these people live by a different moral code than the rest of us ...... they should be seperated from those buying their own home and making progress in their lives.
Which, of course, is a lie .... what they are for is for those for whom the Council Estates provided for in the past.
Now, generally, these people live by a different moral code than the rest of us ...... they should be seperated from those buying their own home and making progress in their lives.
#21
Scooby Regular
I have been thinking about this for a little while now.
Why the difference?
Are people really buying property for a big discount?
Rightmove’s current average asking price for a property new to the market is £234,858.
The latest national house price survey, from Halifax, puts the average sales price in September at £159,486.
Is there a simple explaination?
Why the difference?
Are people really buying property for a big discount?
Rightmove’s current average asking price for a property new to the market is £234,858.
The latest national house price survey, from Halifax, puts the average sales price in September at £159,486.
Is there a simple explaination?
Yes
Asking price - vs selling price
Halifax are reporting on the average of what's actually been sold, not what's currently on the market for sale.
The avereage asking price f0r 100 houses on the market may be £250k, but if only two of the cheaper ones sell, then the average sales price will be much lower than £250k.
you are comparing apples with oranges
#23
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The only explaination I have understood is that many more cheaper houses are being sold than expensive houses ...... makes sense, but that would mean that very few houses over £250k are selling at all - most staying for sale, forever.
#25
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You're right there ... new estates need a certain number of 'Social Housing' .... the builders claim they are for Nurses, Teachers, Firemen, and other public sector workers!
Which, of course, is a lie .... what they are for is for those for whom the Council Estates provided for in the past.
Now, generally, these people live by a different moral code than the rest of us ...... they should be seperated from those buying their own home and making progress in their lives.
Which, of course, is a lie .... what they are for is for those for whom the Council Estates provided for in the past.
Now, generally, these people live by a different moral code than the rest of us ...... they should be seperated from those buying their own home and making progress in their lives.
#26
Scooby Regular
£500K+ houses are selling due to the very wealthy buying or europeans trying to get rid of Euros. Cheap houses are selling well because mortgages are harder to come by to those that obviously can't afford it. With the death of interest only the average sale price will probably come down. The £250K houses will be the ones where people over-stretched themselves and trying to downsize - probably more so than those moving up the ladder, probably.
Family friend does the show home thing for houses in Oxfordshire. They are all £2m+ and she has no problem shifting them. The brochure is stunning. They even put £2K worth of wine in the wine chiller as a thankyou. Different world!
I would never buy a new home where there was social housing on or near the estate - my mother has a house in Cardiff and its private one side of the road and social the other side. The petty crime rate is very high. You can't leave anything out or they'll pinch it.
Even where I live there is an estate with lovely looking houses then one part is social and its all gypsy types with trucks, caravans and just horrible. Yet across the road is the £250K house that won't sell.
Family friend does the show home thing for houses in Oxfordshire. They are all £2m+ and she has no problem shifting them. The brochure is stunning. They even put £2K worth of wine in the wine chiller as a thankyou. Different world!
You're right there ... new estates need a certain number of 'Social Housing' .... the builders claim they are for Nurses, Teachers, Firemen, and other public sector workers!
Which, of course, is a lie .... what they are for is for those for whom the Council Estates provided for in the past.
Now, generally, these people live by a different moral code than the rest of us ...... they should be seperated from those buying their own home and making progress in their lives.
Which, of course, is a lie .... what they are for is for those for whom the Council Estates provided for in the past.
Now, generally, these people live by a different moral code than the rest of us ...... they should be seperated from those buying their own home and making progress in their lives.
Even where I live there is an estate with lovely looking houses then one part is social and its all gypsy types with trucks, caravans and just horrible. Yet across the road is the £250K house that won't sell.
Last edited by EddScott; 10 October 2012 at 05:06 PM.
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