The days of homebuyers making a quick killing in the property market are over, Says The Mail. How do buyers and sellers feel in Sheffield.Are house prices coming down, Going up, or staying the same ? Is it a buyers or sellers market at the moment ?

Originally posted by pattricia
The days of homebuyers making a quick killing in the property market are over, Says The Mail. How do buyers and sellers feel in Sheffield.Are house prices coming down, Going up, or staying the same ? Is it a buyers or sellers market at the moment ?

I think you're levelling out with southerners, as a 3-bed semi , 170k house in Sheffield (Walkley for example), would be 170k, 3-bed in the south – well, where I am – but I feel your higher end prices are very low compared to ours – well those in Kent and the other Home Counties.

I think we are in a "lull" Pattricia. Houses on our road don't come up for sale very often but during the past 18 months we have had 5 come up for sale. Two of these residents have been in their houses in excess of 10 years and were looking to downsize. Both of these houses sold fairly quickly for high prices. The other three are bungalows and are still for sale. These three didn't come onto the market until the tail end of the "boom". I think that they might take a while to sell because of the "lull" we are in. However.........I don't think that prices will take a downward turn. Unless of course somebody wants a quick sale. It is a buyers market at the moment and there will be bargains to be had through some people wanting a quick sale. That could have a knock on effect but I don't think it will make much difference to the current trends. At the end of the day, there aren't enough houses for sale in order to satisfy the buyers out there.
I really can't visualise a downward spiral of prices. I think that the house prices will become stagnant for a while. BUT........people will try everything to get a house reduced if they are really interested in buying it. Nothing new there then. lol.

Well I'd say the days of a 'quick killing' have been over for about 2 years..... good to see that the Mail's finally catching up with the times.

It is most certainly a buyers' market with some great deals around. Yes unusual properties in good areas will still attract some bidding, but sellers need to be realistic in their asking price to attract a quick sale. Sheffield still offers good value for money properties with a massive price range. Last month I managed to pick up a little 2 up 2 down for under 30k...but I agree with kentboy119 that generally prices have narrowed to almost southern levels.

Property graph S1 (http://www.upmystreet.com/property/prices/all/l/s1.html)

Property graph S2 (http://www.upmystreet.com/property/prices/all/l/s2.html)

Property graph S3 (http://www.upmystreet.com/property/prices/all/l/s3.html)

....Well you get the idea - change the postcode in the box on their site if you're interested :thumbsup:

Property graph Sheffield (http://www.upmystreet.com/property/prices/all/l/sheffield-4610.html)

I'm a buyer and have been talking to estate agents in Sheffield: one (very large) one has openly admitted they've cut asking prices by 5% across the board. Add to that the statistic that the average selling price across the UK is 7% below asking price and it looks like a falling market to me.

Yeah I definetly think the price boom is over.

Thank goodness

Give us poor people a chance to save and not panic