they seem to be going up and up

And your point is?

Really?
I think they seem to have slowed down over the last few months. The bidding up frenzy seems to be happening less, thank goodness! Though at houses starting at about 90K how on earth a first time buyer living alone is supposed to get on the property ladder is beyond me!

I've actually noticed that its agents commissions that have been going up and up. One agent put theirs up from 0.75% last summer to 1.25% by the end of the year.

I've been following the market closely for the past few months in Sheffield and surrounding areas, and have noted the following:

Houses suitable for 1st time buyers are still going above the asking price. I sold my house recently and it went well above the asking price, even after I reuqested it be put on the market for more than my estate agents valued it for.

The higher priced houses for 2nd/3rd time buyers are slowing up and sometimes going for less than the asking price. Maybe due to less 1st home owners wanting to move, because of the inflated prices etc.

I've also heard, and believe, that prices are set to steadily increase by about 5-10% over the next couple of years within this area...

Originally posted by drp215
Really?
I think they seem to have slowed down over the last few months. The bidding up frenzy seems to be happening less, thank goodness! Though at houses starting at about 90K how on earth a first time buyer living alone is supposed to get on the property ladder is beyond me!

They are buying in with the banks, my mate just got a morgage that is with the bank where they pay 1/3rd of the morgage and he pays 2/3rds and after a year or 2 he can buy the other 1/3rd of the bank or carry on paying just his share, when he comes to sell the house he gets 2/3rds of the price!! I find that this is the only way that us first time buyers are going to get onto the ladder!!!

My partner and I are in the same position. As first time buyers we find that the prices are beyond ridiculous. However, a house I had my eye on as a dream property recently got sold within my price range (before I knew) because the seller just couldn't get a buyer at the asking price. I was gutted.
We keep looking, occasionally we find something good, and bid, and nearly always get outbid to the tune of 10K. It would seem first time buyers are managing very well since you can't get a mortgage from most places for more than 100% of the valuation.
Our deposit is sitting in my account and it's enough to cover 5 - 10% required but it isn't enough to overbid by thousands.
It's a nightmare. I'm reaosnably sure that the property guide said something about a 20% drop being predicted for Yorkshire - and pigs might fly!

There are some houses on the market with a certain estate agent that have been on the market now for going on for a year.
The people selling theses are not being realistic about what their house are actually worth.
I trawl the internet every week and I know ( for a lot of the houses) how long they have been on the market.
It doesnt make any difference if these people change their agents, because in their heads they are stuck with the original valuation that the agent gve them, back in the summer, when prices were higher.
A lot of blame is placed on agents when houses do not sell.
If I was one of these agents ,I would be saying to these people, either reduce the price of it, or we are unable to continue marketing the property.
The agent still has to do work, taking enquiries on the house, and people may still want to view and they then realise the vendor is unwilling to go any lower,so they walk away
If the middle value houses accepted a lower price, then people selling the terraces could accept a lower price that is more realistic and this would help the market along.
A house is only worth what someone is prepared to pay for it, irrespective of what an agent values it at

a lot of this has to do with the time of year as well. it seems that people just can't be bothered buying or selling housed in the cold, and so if you've been unsuccessful looking around over the winter, you may find it gets a lot easier soon.

It also seems that sheffield shares with the rest of the country a love of ripping off first time buyers, basically by pricing said houses at the limit of what first time buyers can afford rather than what they're worth. if at all possible its always worth trying to buy slightly above this bracket as you will get a much better house for your value. having said that i have just bought a similar house and couldn't be happier with it... so probably best to ignore me