property values hardly changed for 5+ beds...why??

[andrea1]

Hi, I've been waiting for the last 3 or 4 years for a 'crash' in the market and seemingly it's upon us, however, I live in a 3 bed at the moment but now need a 5 bed and, looking at 1,2 and 3 bed propertys, they all seem to have dropped a lot in price over the last year or so but 5+beds have hardly seemed to change ie: 5 beds that were on at 400,000 2 yrs ago are now up at �380,000 etc........just for example. I've been looking at the market for a couple of years now and the 'crash' doesn't seem to have affected the larger (but that's not to say 'classier' lolol) houses. Why???????? Ok, not as many people want 5+ beds etc so supply and demand is a big factor but even so why is the downturn so little, comparatively? Your thoughts appreciated (nice ones though obviously lol) as i'm about to put an offer in on a 5 bed as I can't wait for the 'crash' any longer and would just like to know that i'm not alone in thinking that the 5+ bed market isn't going to fall much more now......can't say that for the 1,2 + 3 beds though unfortunately, I think. Kind Regards Andrea :0)

[Panic Button]

Perhaps the owners are not being realistic in dropping their asking prices.

Are these houses actually selling, or just sitting with for sale boards up.

[marval]

Depending how long a house has been on the market. I expect they are not selling very quickly, ask the estate agent how long the house has been on the market. If it is a while it could be worth putting in an offer.

Good luck

[cassa333]

The houses on the market for x amount may not sell for that!!

Have a look on the web for the sites that give you purchase prices for houses.

Then look in the area to see what they are actually selling for.