In message , chris French
writes
In message , R Taylor
writes
chris French wrote:
In message , Capitol
writes


I believe last months figures were that the average SP was 90%
of the listing price in the London area.


sounds believable, according to SB on Property Ladder tonight ,
nationwide, average selling price is 94% of the asking price.

alternatively:

people expect an average of 6% more than their house is worth ?

or estate agents upsell by an average of 6% just to get the contract ?


They aren't alternatives, they may be explanations though. mostly I
guess that houses are priced with the expectation that they will sell
for a bit less.



And lets not forget that 10% below average asking price was only £5,000
not "so" long ago.

I remember selling a house in 1999, (I bought it in 1992 for £110,000
when it was asking £125,000). My asking price was £180,000, and I got an
offer of £170,000 - I snapped their hand off!! (Same house is now around
£350,000.

--
Richard Faulkner