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Written by rosalind renshaw

Asking prices across England and Wales were cut by just over £1.1bn last month.

Home, a property portal that amasses its information from other websites, says around 74,000 homes for sale had their asking price cut in June by an average of £15,000. Some 66,000 property prices were cut in May.

Home business development director Doug Shephard said the reductions were outside London and mostly in the North.

He said the average time on market for unsold property in Manchester is 234 days, while in London it is 135 days.

The average asking price for homes on the market in England and Wales edged down just 0.1%.

While asking prices fell in six out of nine regions year-on-year, property prices in Greater London rose 2.3%.


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    Oh, dear, M.James. Nasty PeeBee steal your dolly.
    FFS grow a pair, otherwise every other bandwagon you jump on the back of will throw you off when you hit the first rut in the road.

    If you can't handle "debate" on a Forum, then how the Hell do you expect to manage F2F?

    By the way - I was never a school bully. They were too frightened of me to mix it. I was, therefore, VERY popular with those who feared bullies - and still am. ;0) My staff also love me, as do my family and friends. That's all that matters to me.

    • 22 July 2010 13:35 PM
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    I can't be arsed arguing with you pee, you must have been the playground bully and you must be hell to work with, think i'll give remax a call and take on the traditionals, thousands of out of work dea's may do the same, thus driving down commission fee's, payback time i think.

    • 22 July 2010 03:50 AM
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    "...many energy assessors exploited by agents will encourage this as a way to gain epc/floorplan/photographywork..."

    AHHH now it becomes clear!! Explains everything, M.James - you're not getting enough EPC/floorplan/photography work to fill your time in, are you?

    Become an Estate Agent (if one will have you, that is...) - then you'll see first hand how much hard work goes into what you ignorantly give so little regard to.

    • 20 July 2010 15:54 PM
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    M.James: Well - that's a back-down if I ever read one!

    I only hope that these 'canny sellers' you refer to don't cave in when negotiating the sale of the roof over their heads as easily as you do, otherwise they'll all be looking for cardboard boxes to live in next!

    Oh, and no - I can't be anything other than sarcastic when engaging with someone like yourself. You never wanted or expected a 'debate' - you wanted to ruffle feathers but don't like it when someone ruffles yours more! No debate here - you were onto a loser from the second you pressed 'Send' ;0)

    • 20 July 2010 15:45 PM
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    I never said private selling is perfect, but it gives sellers an opportunity to bypass agent fee's, whereby it wasn't easy to do previously and in tough economic conditions many will pick up on this, canny sellers may market their homes privately alongside their agents traditional marketing, and if it get's too complicated then they simply get their agent to take over, and remember this PeeBee the property ombudsman has said in print, no agent shall have a claim to fee's where he cannot prove he introduced or had a part in introducing a buyer to a seller, so a smart seller may use the dual selling route if there is a chance to save on fee's, many energy assessors exploited by agents will encourage this as a way to gain epc/floorplan/photographywork, sole or multiple agency contracts do not apply to privately sourced buyers, the OFT and property ombudsman has said so.

    ps: do you have to be sarcastic all the time or can you debate like a normal person.

    • 16 July 2010 16:35 PM
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    M.James: Did I mention "stress"? I don't think so. You cite 3000 alleged 'successes' on one site's say-so (I just wish that ONE of the entries I have on Tepilo would attract ONE enquiry...) - but cannot confirm ANY of my points raised. Your stated figure, by the way, represents LESS than 1% of transactions. I bet all "traditional agents" are quaking in their patent leather shoes at that phenomenal statistic...

    You also 'presume' they have paid nothing to Agents. Never presume.

    Revisit my final point, please. HOW do these people manage to do all of this and produce an IDENTICAL RESULT to that which an Agent could produce for them. By this, I mean same (or better...) price achieved; same (or better...) time on market; same (or better...) time to completion. I am still waiting with baited breath for the answer.

    • 16 July 2010 14:04 PM
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    @PeeBee,I will enlighten you in the fact that over 3000 people who you seem to think cannot handle selling their own home have successfully done via Tepilo for example this year alone and it's only July, That's a lot of people who you seem to think can't handle the "stress of it all" and i presume most of them have not not paid a penny in agent fee's, people are waking up to the fact it's not that hard to sell your own home even with a bit of stress thrown in, Private selling is on the up in a falling house price market, some should get used to it!!.

    • 16 July 2010 11:37 AM
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    M.James - Please, enlighten us all with your wealth of knowledge on this subject.

    I would be fascinated to learn how "yer average homeowner" will negotiate a deal; liaise with solicitors, lenders, et al; handle downvaluations, chain collapses and anything else that the sale process can and will throw at them; AND come out with the identical result that a professional team of Estate Agency staff would achieve.

    So, I ask - nay, beg - again, tell us. Enlighten us, for we are obviously deeply in need of your gift. PLEEEEEEEASE??

    • 16 July 2010 10:09 AM
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    Sellers could turn to private selling in order to make up the shortfall in house prices, thus putting more pressure on traditional agents.

    • 15 July 2010 12:28 PM
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