Rat and Mouse
Mon
18
Oct
What are you on?

On the brink of a historically vicious spending review almost certain to hit employment, with talks - again - of recession, with the major indices agreeing we've seen the best of house prices for a while, and credit restrictions likely to worsen as banks are spooked by economic uncertainty and new rules redefine "sensible" lending... vendors have pushed up their asking prices by 3.1% in a single month, according to the latest Rightmove figures. Looking at London alone, the figure's more extraordinary, at 5%. Whatever the vendors are on... I want some.

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Comments

Vendors are anticipating the buyers market mentality and overpricing because buyers are going to offer substantially below the asking price. Retailers used to do this in the old days with "25 per cent off" sales -- of course, no one in their right mind would have paid the purported original asking price. In retailing, this practice is now illegal but estate agents seem to encourage it. Buyers beware.

Posted by jmb at October 18, 2010 11:08 AM


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