Comment: 'Sellers who refuse to budge on price of substandard homes need to get real'
Another week, another round of properties viewed and crossed off my list of potential homes.
It’s a situation sweetened only by two things: discovering a great new (to me) area, no mean feat after nearly four decades in London – hello Bowes Park and your fabulous Greek bakeries; and those kind, proactive or plain despairing readers who sent an array of lovely homes they are selling for my humble consideration.
None of them has yet fit my bill (three bedrooms up to £600,000 in case you’re wondering) but keep ‘em coming to homesproperty@standard.co.uk.
We’ll feature the best ones in a special Lonely Hearts-style round up in a few weeks. If the professionals can’t sell your home, perhaps the Homes & Property community can help.
What most struck me after communicating with people who are selling their own homes and looking for somewhere new to live was how fed up everyone is with the current system of pricing high and refusing to budge.
We all have the tools to work out what seems a reasonable price at our fingertips.
The pages of this very paper and website, available for the staggering price of FREE, will tell you that London house prices are on a gentle slide and expected to remain so until at least the middle of next year.
Savills latest forecast predicts a 10 per cent price drop from peak to trough before a slow recovery begins.
The Land Registry can help you with specifics.
A quick search will show you just how deluded some sellers are.
I’m looking in particular at the landlord of the decrepit HMO with a literal bed in a shed, refusing to accept anything under £625,000 having bought for less than half that 20 years ago and not visibly paid out a penny since, all whilst milking the tenants for all they can.
There are plenty more like him. It’s time for them to get real.
