Quote:
Originally Posted by tony and sheena
Hi
I've read a few posts on here recently claiming that house prices are dropping, however when I'm looking on property sites, they appear to be rising.
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Many people have their own reasons for wanting (to believe) prices are dropping. They also tend to shout loudest saying "Doom and gloom approach.." But I think you're right, when looking on property sites, prices do indeed appear to be rising. Figures published by the Government, the banks and the real estate companies all agree that average prices are increasing. In some areas the increases are quite substantial, in other areas the increases are more modest, and I don't doubt there are some houses that have been reduced.
But, an "average house" in an "average place" put on the market at a "realistic price" is likely to cost you more now than a year ago and will most likely cost you even more in a years time.
Our house is worth about $700K. If I put it on the market for $1,000,000 to see what happens and after three months I reduce the asking price to $750,000; it doesn't mean there's been a massive 25% price crash - at best it means there's not as many idiots around.