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If the market is falling, and has done so over the last few years, why are estate agents valuing property at higher prices than when the market was ri

Looking for properties in the North West, I look up the sold prices and the marketing prices are higher than when the properties sold between 2005-2007. This cannot be right? In a falling market where there are fewer buyers, why then is property getting valued higher than it was in a better market.

Asked on Sep 21 2012, House Prices in Liverpool | Report content

Answers (1)

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  • Sorry this is not an answer but to say I have been trying to fathom out just the same things myself so have been keeping an eye on your question. As the market peaked in summer/autum 2007 I would have expected asking prices to be lower. The only answer I can work out is that only some properties are selling as there are always some buyers out there, some naive maybe needing to move quickly from another area of the country etc. and sellers/estate agents try properties at a high price for a few months after which they try and pursuade sellers to reduce and reduce again over the next year or don't sell at all and are eventually withdrawn. I keep my eye on prices and have noticed this happening

    Answered on Oct 3 2012, Report content

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