Re: House prices advice.

There can be lots of variables in a house sale regardless of what’s going on in the ‘market’. The position of the seller can greatly influence the negotiation- eg just as an example, they might be after a quick sale because they’re not able to meet increased mortgage payments; or, on the other hand, they could be an elderly couple downsizing, who’ve got used to the value of their house rising over the last decades and may therefore be less open to quickly agreeing to offers below, or substantially below, tge asking price.

At the end of the day, the exact selling price is determined by what the particular buyer is prepared to pay vs what the particular seller is willing to accept.

Personally, I think that initial bid is too low. I would go for 240 to start but then move up very slowly, increasing the bid by maybe 2k and then by a bid of another 1k.. obviously though, that all depends on what the buyer can afford and how much they want the house.

House prices are expected to continue to fall for a while yet so bear that in mind.