Asking prices for property have edged up yet again, to set a third consecutive record, Rightmove reported this morning.
The average asking price of a property new to the market now stands at £246,235, up 1% from May’s £243,759.
Asking prices are now 2% up on August 2007, the month before the UK economy faced the run on Northern Rock.
In London, the average asking price for a property new to the market is now £447,440 – 1.7% higher than last month, and a new record. In the South-East, average asking prices are 0.5% higher than the precious record, set in October 2011, while the South-West is now just £300 short of its all-time high.
However, if London were to be removed from the equation, national average asking prices would still be 5% below their peak of August 2007.
The site also said that in real terms, property prices had not risen anywhere but in London. Taking inflation, as measured by the Retail Price Index, into account, property is now 13% cheaper than five years ago, Rightmove said, and in Wales, ‘real prices’ are 24% lower.
Rightmove also said further hikes in asking prices ‘seem unlikely’ with fresh supply of properties exceeding demand. It said that there were 29,394 new sellers a week prior to the Jubilee break – the highest new listings rate for two years.
Rightmove director Miles Shipside said: “While the national average price of property coming to market has set new records in each of the last three months, sellers should not break out the bunting in celebration until they have done their homework.
“It remains a very local market.”
He also said that agents are reporting a two-tier market – those who can afford to price realistically and as a result are selling their properties, and those who are equity poor and cannot afford to take a price hit.
Rightmove’s average asking price easily tops the ‘actual’ prices currently quoted by Halifax (£160,941) and Nationwide (£166,022), based on their mortgage approvals.
%20(002).png)
Comments
/\
I
I
I
I
Ok Nipple Nut, have the last word up here.
Quite witty today :0) but I think the school boy joke forum is somewhere else.
Happy Chappy, I was wondering about what sort of miserable excuse for a head you might have on your shoulders.
Then this thought came to me as I related it to you.
How do you make 5 pounds of fat look good?
Put a nipple on it!
Don't bother taking it off now. It's too late
New Study
A local scientist, after a lengthy study, has discovered that people with very low intelligence read these posts with their hand on the mouse.
All but one is a quote from me.."I am an expert at nothing" is the incorrect quote. Read in context I stand by them all. Perhaps you should be a reporter not an EA .....how is that bath cold enough yet? :0)
Ding Ding
Seconds out
Round 2
I find if I post under my usual stage name people, especially you, get all mardy and keep harping back to a single blog from 3 years ago.
"meaningless inflamatory"? is that oxymoronic?
Boy - you must lead one sad life!
I wonder what the medical term is for someone who has a compulsion to post meaningless inflamatory posts on an Estate Agency-centric website?
Then again - I doubt they've come up with one yet. You are a one-off.
Thank heaven!
Go warm up your undercarriage after that cold bath - maybe it will then grow and give you someting to abuse - sorry, aMuse - yourself with.
On second thoughts... you probably haven't got a clue what to do with it...
Sorry everyone I got out of the wrong side of the bed this morning and felt I just had to get involved in this MDT.
Listed are copy and pastes from Happy Chappy posts. You need to bolt a few of the various posts together to get the whole picture of him
OUOTES FRON HAPPY BELOW
I said "I don't claim to be an expert at anything"
"I am an expert at nothing"
"I have also quite openly stated i do not make a living from the housing market"
"Most vendors have no idea of what is for there own good"
"i do know what i am talking about"
"coming from a bloke who puts a capital letter in the middle of his name!"
Oh, dear - we DO have a set of partial dullards in our midst, don't we? Or one complete one who just likes using a different username every time he/she posts...
(Here, 'and that' - I'll let you into a little secret. Just you - no-one else.
PeeBee isn't my name.)
Until now I hadn't realised just how cold that bath was...
;o)
coming from a bloke who puts a capital letter in the middle of his name!
'oi thicko!'
If you are going to have a pop at someone because of their spelling and diction, then I STRONGLY suggest you check your own before pressing 'Submit'.
I lost interest in counting at ten errors.
Proof that people living in glass houses shouldn't stand in front of an outside wall after a long, freezing cold bath...
Shall I assume when you say "your" you mean "you're"?
and just remember that a question usually has a Question Mark at the end.
You will find the ? just above the RH Windows key, (remember to press the shift ket to get at it)
It is only polite to answer your question, yes, quite disturbed.... Quite disturbed that you have got all the way through school and been given a job with only a clutching on with your finger tips grasp of English.
You will understand this next bit if you sing as a moronic, down the pub chant. 2- nil, 2- nil 2-nil!
I appreciate it won't feature Janet and John but nip down to Waterstones and get yourself a copy of ISBN 10: 0671723650 - ISBN 13: 9780671723651 - 1990. Perhaps a grown up will read it to you.
@@ happy chappy, yup you really showed me, your quite a disturbed individual are'nt you
@FBA - There you go aging twisting words to suit your argument, I said "I don't claim to be an expert at anything" that is quite differents from I am an expert at nothing. I leave claiming oneself to be great to narcissists like yourself. I let others judge me and welcome constructive critiscism.
I have also quite openly stated i do not make a living from the housing market I do quite nicely without it thank you. Now lets talk about being a parasite, I have never chaged a family memeber for my assistance. In fact preventing a family member being ripped off by a parasitic agent was what got me started on this. Friends of friends have given me money for my help, do you take on all instuctions for free.
Now FBA i would like to thank you, If I was trying to make a living in this, your posts would be a fanastic marketing tool for me, please keep them coming.
Happy, you are getting quite a fan club aren't you?
And your absolutely priceless post below. I have stopped chuckling now, wiped the tears of laughter away and settled back down.
You finally strive to tell this forum you are an expert in nothing. That is good Happy Chappy, accepting your own limitations is good for you and your own mental well being. Not to mention the well being of people who may have read your drivel and wondered what type of ill informed property person might have written such tosh. Now it is clear, you are neither an expert or a property person, many thanks indeed for clearing those two points up. Your posts can now be read in light of these revelations and regarded by readers for what they are worth. Well done to you! It is like a confession, like coming out of the closet. A clean sheet. Pat yourself on the back for sharing the fact that you have no expertise in anything at all (especially property) with the world at large.
You feel I "duck and dive" as you put it. Well old chum! I will answer questions having logical precise relevance to any matter at hand, but your questions relating to me and my business have no relevance whatsoever to generic issues, hence my gentle ignorance of your questioning. You are unable to keep your posts generic, it is comical really, honestly. very amusing. I am indulging you for entertainment, yes mine alone perhaps, but it passes time between exchanges (that is exchange of contract to you Happy).
You clearly state you are a professional parasite who works in the best interest of his clients. Now that is so funny I have had to take a while to stop the belly guffaws. I cannot add to that. You are indeed a funny person.
You leach on friends and relations when they set out to sell their property. You extract money from these people on the basis that you claim you can beat an Estate Agent down on his fees, but only if your friend or relation gives you money based on the saving you claim to have made them. Parasite indeed, you really are.
Where did you gain you 'professional qualification' in being a parasite? I never came across anyone else doing this subject at Uni, but it was a long time ago.
Did you check your shirt is tucked in your underpants yet? Naughty boy. You forgot, didn't you?
You went to the pub, came home, switched on a PC to check for replies on EAT? You then took time to post a reply.
Thank you for all that effort, I might be the most ignorant twat to post on here but guess what? for 10 minutes I was in control of you, I stole 10 minutes of you life that you will never get back.
I will leave you with a choice, you can reply and let everyone know how much smarter than me you are, allowing me to nick a bit more of your life.
Or you can ignore this message and show people that not only are you a bit of a Saddo that goes to the pub to idolise a fortunate fat scouser and watch him get in the way of a ball that was booted at him, proving you haven't got the mental capacity to post a retort.
Either way I win!
I am not sure if you are amusing anybody, perhaps, yourself.
I have never claimed to be an expert on anything i leave that to you. Yet you duck and dive, avoid the question and throw insults as a defence mechanism.....perhaps you should be a politician as well as an agent.
I never used the term we, or embarking.......i quoted it. If you read the article further up the page you would know that. A parasite, ok if thats how you see me fine but a I am professional parasite who works in the best interest of his clients.
As far as i am aware this forum is open to the public (and parasites), if you would prefer your profession to be only inward looking i suggest you stay away form public forums
Further (for the amusement of readers)
I am fully aware that you (The idiot) calling yourself Happy Chappy have helped one or two family members and friends choose Estate Agent and 'blag' fees with the said Agents whose doors you chose to darken. Let me tell you my friend, this does not make you a buying/selling agent, a property expert or an authority on Estate Agency in general. You remain a fool, and I do not suffer fools.
Simple answer to your 2 questions.
1. I know you have not done business with me because I wouldn't negotiate with you, I told you before, I would view you as a parasite.
2. Results.
What makes you think I am not honest, cost effective and able to deliver? I am all 3 and my clients testify to this.
You use the terms "we" and "embarking" Who is the "we" ??
Get yourself an estate Agency Business my friend, then come here and comment of other peoples business with some authority.
Once again, I will state:
I'm sorry, you..the idiot who calls himself "happy chappy" clearly and most empirically demonstrate your lack of understanding of Estate Agency just about every time you post.
Dear FBA who accepts the instruction at such a price? the agent ....It's not complicated at all!
You are wrong i do meet with vendors and discuss there needs....that is their needs not the needs of the agent!
How do you know you have not done business with me already? However, you are probably right i probably instructed a more professional, honest and cost effective agent who delivers what the client really wants.
“More importantly, we should be embarking on a major, and ongoing, programme to raise public awareness of standards and just what quality service looks like, so that consumers can make informed choices based on value for money and real service, not just who is cheapest and claims to be able to obtain the highest, often unsubstantiated, price just to secure the instruction".
This is what my questions to you were directed towards doing.....So again i ask you in a differnet way what makes an agent best in class?
You can choose to carry on with your insults and assumptions they will indicate more about you than me.
Dear Happy Chappy,
I will reply to you for the amusement of readers.
Im sorry, you..the idiot who calls himself "happy chappy" clearly and most empirically demonstrate your lack of understanding of Estate Agency just about every time you post.
You refer to me insulting you, describing the insults I direct towards you as crass. In fact, my observations and adjectives regarding you are spot on, and I guess irritate you due to their overwhelming accuracy.
YOU DO FOCUS ON PRICE YOU ARE AN IDIOT
You suggest that if an Agent has a property on his books that is advertised with an asking price which is more than the market will stand, it is the fault of the agent. What fault? Where is the fault? Each client, each house for sale has differing vendors, differing drivers, differing time frames and so on. Is it probate, repo, divorce, upsize, downsize, speculative, forced?
It is complex Happy Chappy, and you do not understand this because you are not an agent. You do not meet with vendors, discuss their needs, aspirations or fall back positions. Happy Chappy, you do not go out on a day to day basis to win instructions. If you did, and with your simplistic attitude, lack of knowledge and complete focus on "price" you would be a skint Estate Agent. Try it old chum. Become an Estate Agent, see how far you get. Yes, you are a complete numpty.
As far as you knowing the difference between a property appraisal and a valuation that is amusingly ridiculous. It is well documented that average asking prices and average selling prices differ. They always have and always will. The % they fluctuate will go up and down with market trends. Estate Agents know this and advise potential Vendors on this position. You clearly demonstrate your lack of understanding in respect of the relationship between asking prices and selling prices as it relates to the relationship between agent and Vendor. That is because you know nothing about Estate Agency.
As for demonstrating to you where or how I may be better than one or all of my competitors! You idiot! This is a forum not a sales platform. Why would I entertain your jibes and goading? As I said, a good deal of my success over many years has been due to my ability to weed out fools and time wasters and NOT attempt to do business with them. I regard this as essential to protect myself, my staff, my business and my reputation in Town. Happy Chappy, I would not do business with an individual like you. If you were in my town I assure you, you would not be selling through my agency. I would weed you out.
So in answer to you question "If I were a client" ....
Trust me, you wouldn't be. So no worries there. Idiot.
The winning of an instruction for an Estate Agent is an essential part of the business but only a very small part of the process involved in being an Estate Agent. Unless you know all the components and how they gel together you have no comprehension of what you are talking about.
Go back to your Airfix forum, entertain the folks there with your profound knowledge of life, and when done you can oil your train set.
Don't forget to brush your Hush Puppies and iron your cords, check the leather elbow patches on your jacket and tuck your shirt into your underpants before you go out.
Pee Bee described a 'troll' quite eloquently the other day. Look it up, his description describes you to a tee Happy Chappy.
Well done son. You remain the idiot.
FBA your crass insults just go to show how annoying you find it, that in fact, i do know what i am talking about. If you have a property on your books and its overvalued its nobodys fault except your own. It didnt just happen to be there.
I am quite clear of the differences between a market appraisal and a valuation. Yet a mojority of agents will say to potential vendors "can i come and give you a free valuation".
Like i said you cannot demonstrate where you are better than your competition, (tell me an agent that doesnt claim to have thourough understanding of the industry) if i was client and asking the same question would i still be numpty (is that how you view them)
@@happy chappy i doubt it, but even if he is by comparison to you i am a genius, shesh I am back from the pub after watching the football and can debate better than you. At least FBA has a real opinion. You, on the other hand, will fire up the computer tommorow when you are skiving,read this and think what insult can i throw next, dont bother you add nothing to this site.
you wrote "do your really think this simple statement demonstates he is a better agent than his competition.." I'll assume it was a question desite the lack of ?
The answer is no, but it does demonstrate he is better educated than you!
Ah, that old chestnut from this highly uneducated little pipsqueak who insists on making ill informed, incorrect and blatantly wrong comments on a subject he has absolutely no knowledge of. Mr Happy Chappy, you are so stupid it makes me cringe.
What on earth do you think you are banging on about? What do you mean when you say "you didn't provide a valuation and accept it at that price" ??
If you ever took note of anything I have said you would be clear on that one thing alone. I have told you before, I will tell you again, just for clarity, just to hammer home into your thick, uneducated, idiotic skull, what an Estate Agent does at 'initial meeting'. We do not provide valuations. ARE YOU CLEAR NOW? We provide marketing appraisals. In respect of "PRICE" ?? are you utterly dumb? You surely must be. An agent is not accepting any price whatsoever, an agent is accepting an instruction to sell.
As I said, you have no idea of the complexities involved.
As far as what I do that is different. Well old bean. I have a thorough understanding of the industry, unlike yourself. I have no need to justify myself to a complete and utter numpty like you. My greatest gift is to be able to weed out fools to ensure the health of my business. It has served me well.
I believe you need to go back to your Airfix forum or your Hornby train set forum where your opinions would be appreciated much, much more. Your lack of understanding of the Estate Agency business is overwhelming in all respects. But... saying that.... you give us a laugh.
Try the hair dryer game matie.
"you will from time to time convince an owner that for their own good" do your really think this simple statement demonstates he is a better agent than his competition.....you must be a salesmans dream.
In his full statement FBA argues against his own best price possible mantra.
I'm off to watch the game night!
you wrote" Come on tell me what makes FBA better than the rest and prove it.
having typed
"Ask an agent what differentiates them from there competiton"
FBA managed
"you will from time to time convince an owner that for their own good"
1-0 to FBA me thinks and certainly the proof requested.
LOL I probably know about as much as you then FBA eh..stating the obvious is better than stating nonsense. "you might find yourself with a property" oh it just happened to be with you did it, you didn't provide a valuation and accept it at that price. Most vendors have no idea of what is for there own good and base there selection of agent on very unscientific methods you are confusing me with them I am not all about fee a nd valuation That's why there are so many poor agents around.
Of course its not all about fee and valuation
Ask an agent what differentiates them from there competiton ask them for proof of performance. They all give the same predictable answers. Come on tell me what makes FBA better than the rest and prove it.
This happy guy is ever the idiot Mr State the O.
As an agent you might find yourself with a property OM where a competitor has a similar offering OM priced below you. That is luck of the draw.
Equally, as an agent you will from time to time convince an owner that for their own good they come on with you at a lower figure than a competitor has a similar property OM. That is luck of the draw for that agent and owner.
Comes around, goes around.
The trouble with this happy guy is that he is not an agent and has no idea about agency, its complexities, methods, reasoning and balance. He just sees the two things all would be vendors ask about.
Asking price and fees.
He knows nothing about estate agency... poor chap.
"All I am saying is when a vendor has an overinflated opinion of the value of the property its harder to sell than someone who has a similar property priced to sell."
Really!!
Wow Happy Chappy thats cutting edge!!!!! Cor really need to take notice when you post!
Firstly, who said anything about pricing over the competition?
The article does "The average asking price of a property new to the market now stands at £246,235, up 1% from May’s £243,759." Of course we dont know if they are comparable (stats never tell you all you need to know eh)
All I am saying is when a vendor has an overinflated opinion of the value of the property its harder to sell than someone who has a similar property priced to sell.
However, opinion on if it always the vendors being greedy or agents themselves appear to be divided.
I agree never assume profitablity or fee level to be an indication of performance. Hard for vendors to know what does indicate and how to obtain this isn't it ;0)
Happy Chappy - putting a property on the market outside the M25 (and particularly oop north) at prices higher than than similar properties already on market will mean a lot of hard work for the agents....and therefore reduced profit......am I wrong? "
Firstly, who said anything about pricing over the competition?
Secondly, I almost agree, EXCEPT for one little observation. If I remember rightly from the dozen or so years I worked in Residential Estate Agency, unless you have the instruction in the first place it is bl00dy hard to sell the property. Granted, you will spend less money on marketing a property you don't have on your books to sell than one that you do - but the chance of that property making you a profit by that virtue alone is relatively slim, would you not agree?
And NO - I'm NOT advocating overvaluing, Mr RR!
Buyers buy what they want to buy. Price IS a factor to consider - however the cheapest priced properties (or ANYTHING with a pricetag on it, for that matter...) do not always sell first!
What the buyer wants, the buyer buys.
Whether higher asking prices result in lower profitability for the Agent is something that you will never have a definitive answer on. And if the question of the Agent's profitability on the job in hand has any bearing whatsoever on achieving a successful sale, then you are talking to the wrong Agents, Sir!
Peebee - my comment was based on anectodtal information from this site.....most agents here seem to say that the high prices are down to greedy vendors who only instruct with the agent who provides the highest valuation...so they take the instruction (to avoid the competition getting it) then spend ages trying to get them to price sensibly.
Of course there is a property market outside the M25, but it would seem putting a property on the market outside the M25 (and particularly oop north) at prices higher than than similar properties already on market will mean a lot of hard work for the agents....and therefore reduced profit......am I wrong?
Happy Chappy: "i feel sorry for the estate agents that have to deal with deluded vendors (this is anyone outside London that are raising there prices) It must be hard convincing them to reduce the price to a sensible level that will sell...."
Sweeping and grossly incorrect statement, Sir.
There IS a property market trundling away outside the M25, you knows... ;o)
yes chappy I do, infact it's becoming rarer and rarer to offer a truely no sale no fee service. It becomes harder when you offer floorplans, videos and such but if that's what's needed that's what I do.
I know where you're going with this btw and welcome the alternatives, nothing wrong with pay upfront marketing as long as that marketing is effective. charging someone to upload to an unknown website that claims to be better than traditional estate agency is bordering the fraudulent.
Wardy do you only offer a no sale no fee model.?Interesting its the most uneconomical way to sell your property. Anyway back to the article, i feel sorry for the estate agents that have to deal with deluded vendors (this is anyone outside London that are raising there prices) It must be hard convincing them to reduce the price to a sensible level that will sell....while.fearing they will get annoyed with a lack of interest from potential buyers and then listen to the competition who tell them you not they over priced the property and thats why it didnt sell. More market stagnation to continue!!
RR - as if I would consider answering questions that need YOUR response!
Look back awhile - there are literally DOZENS of perfectly reasonable and valid questions that you have squirmed away from, from myself and a large number of other posters. Are you now going to suggest that I am ALL of those posters?
You talk about trollism. An internet 'troll' is, according to Wikipedia, "...someone who posts inflammatory, extraneous, or off-topic messages in an online community, such as an online discussion forum, chat room, or blog, with the primary intent of provoking readers into an emotional response or of otherwise disrupting normal on-topic discussion."
That would be YOU, Sir. Read the THOUSANDS of words you have crafted on the subject for proof - the ONLY proof of ANYTHING you have ever managed.
@PeeBee
With regard to the 'House-buyers-lose-interest-says-Hometrack' page, I thought you answered all your own questions, having just thought of them - as you generally do! Can't see anything worth replying to there, sorry.
"lets move onto some serious debate .... Japan" LOL.
Oh - and while we have got your attention for a limited period as usual, may I direct you back to the last thread you attempted to hijack -
http://www.estateagenttoday.co.uk/news_features/House-buyers-lose-interest-says-Hometrack
as there are questions awaiting answers that you, as usual, have decided to ignore.
Bad form, sir. VERY bad form.
Why react to RR, no sane person would post what he does, it has to be just to stir a reaction up.
Mr RR
Your "Press Release" is some 700 words too long.
(actually, it is 1300 words too long - but I'm being polite today in case you sue me for being a troll...)
Editors will have to edit - which shouldn't pose a problem to them, as there's a HUGE amount of MDT in there that is simply begging to be deleted... ;o)
@ Realising Insanity
I looked at your link. Some guy with a tenner to throw at a website piggybacks/phishes (illegally) all the estate agents listings in the search facility, give me £35 quid and your home can also be on the list that i've scraped off the internet. .
The 'Press release' is hilarious. Apparently house volumes are low becasue of over-valuing by estate agents.... by your logic, this has only come to pass in the last 4 years since financial crisis, until then estate agents valued fairly but one day in 2008 they collectively morphed into numpties.
'Peter Hendry, a Consultant in Housing Valuation at Property Match (UK). He works for a professionally built, online direct house-selling web site, which rather unusually these days, involves sellers having to pay a small fee to place a house advert there.'
Todays chuckle courtesy of RR
@fools
totally agree
Lets move on to some serious debate,like asking prices are bearing no correlation to actual selling prices
very misleading
just like japan
Normal twits about we see! So sad.
@ rantnrave
You've summed it up in a ditty.
But, instead of failing and falling to the ground with a nasty crash, why not mend both the market and your reputations simultaneously. How? The answer:
http://www.property-match.co.uk/match2/Press_Release.html
It's been freshly conceived this very day!
Let's go fly a kite
Up to the highest height
Let's go fly a kite
And send it soaring
Up through the atmosphere
Up where the air is clear
Oh, let's go fly a kite
Let's go fly a kite!
“But if your local market does not have those characteristics and your price-pump is based on little more than seasonal optimism and an estate agent’s hot air, then be prepared for buyer response to be a let-down.”