Now I know this isn't the place to ask for advice, but reading a number of the posts on these forums there are evidently a number of people who know what they are talking about. My house has been on the market since Oct 07. Like a lot of other sellers we haven't had any viewings. We are selling in a medium sized town with the intention of building on a green field site, we want to grow vegetables, give the kids a more rural life etc.

I'm not bothered that my house is dropping in price, any site etc that I might buy will also drop so this is all relational. We don't have any tie ins on our mortgage and are paying variable rate etc. I've purposely stayed away from re mortgaging for a better deal so as to have tie ins and then get caught with redemption fees should the house sell.

So now I have to decide what to do. If push comes to shove we are happy enough to stay in this house if it really comes to that, however we still want to sell if at all possible. What are the chances of me achieving a sale now if I do set a sensible price? What I am having trouble doing is working out in my own mind how much I should possibly drop my asking price now to get some interest in selling.

I'm not sure if I can go into prices etc here, but being blunt I've got little or no help or advice from my EA, except to tell me not to drop my price when I suggested it a few months ago.

Thanks for taking the time to read.

Its difficult to express an opinion with so little info. However you can take your Rateable value and add on 15%. How far below your current price is that? Look at other houses similar to yours in your area - what price are they on at? What is the current highest bid on them? How much would you drop for no chain or cash buyer? Its your decision at the end - but if your price is too high now - as it must be or FTBs would have been breaking your door down -then you have 3 choices .
1. stay where you are.
2. drop 25% of your price
3.do some research into housing bubbles and how messily they burst and reflect that in your price.


anyway good luck whatever you do and welcome to the thread.

I'd say drop enough to make it really attractive in comparison to similar properties, and expect an offer lower than that again. (Don't think anyone would offer asking price unless it's a really obvious bargain.)

Are you familiar with the term 'chasing the market down'?

This is now a falling market.

If you really want to sell - you have to price to sell ahead of the current prices i.e. lower.