Van

The Haart Price Reductions Thread

442 posts in this topic

[url="http://www.haart.co.uk/properties/pricereduced.asp"]http://www.haart.co.uk/properties/pricereduced.asp[/url]

26/01 - 913 from 9823 - 9.29%
28/01 - 1017 from 9865 - 10.30%
31/01 - 1062 from 9872 - 10.76%
03/02 - 1232 from 9930 - 12.41%
10/02 - 1321 from 10107 - 13.07%

These figures are not the total number of reductions, but the number of reductions [i]in the last 7 days[/i]. So don't worry if the number decreases a bit, as long as there are still a healthy number of regular price cuts then the price direction is firmly down! Edited by Van

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The reductions shown on the site to date are peanuts. Only takes off the last 6 months gains. Good start but we won’t be biting for a very long time will we boys. Golden number is 3.5 X Income or 10 X Rental income for professional landlords

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More interested in the actual number of reductions, Justice. I believe it was back in the 600's back at the start of January. The big drops will come in time, but it takes the end of denial from all vendors to start this process.

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Think Consa has been monitoring these figs, interesting indeed, If I remember correctly they were in the 400's at the beginning of Jan!

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[quote name='Van' date='Jan 26 2005, 03:39 AM']More interested in the actual number of reductions, Justice. I believe it was back in the 600's back at the start of January. The big drops will come in time, but it takes the end of denial from all vendors to start this process.
[right][post="60399"]<{POST_SNAPBACK}>[/post][/right][/quote]

Van,

These drops are more impressive than you give credit for:

The quoted number is for House Price Reductions [b][color="blue"]within the last seven days only!![/color][/b]
It is a rolling average. Therefor, the [b]total[/b] number of reductions is a lot larger (600 for the first week + 700 2nd week + 900 3rd week etc)

I have been monitoring these reductions myself, and note that the reductions are not very large - typically less than 5%, so still a bit of denial lurking there. I expect that much larger reductions will be seen in the not too distant future, when the sellers realise that these meagre reductions are not enough to entice buyers back into the market.

I agree that this thread should be pinned.

CF

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CF, I think I read this before, but are you *sure* this is only reductions within the last 7 days?!! Where does it tell you that??

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[url="http://www.haart.co.uk/properties/finding.asp"]http://www.haart.co.uk/properties/finding.asp[/url]


Paragraph at the bottom

Why not take a look at the very latest properties that have come onto the market or those that will be coming soon. [b]If you are looking for the best value take a look at our properties that have been reduced in the last 7 days[/b] .Alternatively, see the properties that are attracting the most attention on this site. After all, if every one else is looking at them, shouldn't you?

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[quote name='Van' date='Jan 26 2005, 10:14 AM']CF, I think I read this before, but are you *sure* this is only reductions within the last 7 days?!! Where does it tell you that??
[right][post="60590"]<{POST_SNAPBACK}>[/post][/right][/quote]

Go to the 'Finding a Property' page (See link)

[url="http://www.haart.co.uk/properties/finding.asp"]http://www.haart.co.uk/properties/finding.asp[/url]

You will see there, it says:

[quote]Why not take a look at the very latest properties that have come onto the market or those that will be coming soon. [color="red"][b]If you are looking for the best value take a look at our properties that have been reduced in the last 7 days[/b][/color].[/quote]

The "Reduced" link takes you to the page you had hyperlinked in your origonal message.

Oops, can't type fast enough, jpjh beat me to it!!

CF

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So.. that is roughly 1 in 10 properties that have had their prices visibly reduced in the last WEEK, not to mention any sneeky reductions from relisted properties.

End of Jan = end of denial!

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Unfortunately most people's reactions to a falling price scenario will be to take their house off the market - lots of EAs are going to go broke in the next 6 months.

We need complete stagnation. No FTBs in the market.

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[quote name='Van' date='Jan 26 2005, 03:06 AM']Any chance of getting this pinned?

[url="http://www.haart.co.uk/properties/pricereduced.asp"]http://www.haart.co.uk/properties/pricereduced.asp[/url]

913 reductions as at 26/1/05, from a total of 9823.
Check back every day.
[right][post="60379"]<{POST_SNAPBACK}>[/post][/right][/quote]
Van,

Where/how did you get the figure for the total number of houses for sale?

937 reductions now!!

CF

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[quote name='Control Freak' date='Jan 26 2005, 04:54 PM']Van,

Where/how did you get the figure for the total number of houses for sale?

937 reductions now!!

CF
[right][post="60673"]<{POST_SNAPBACK}>[/post][/right][/quote]

CF, just enter a search and leave all the fields blank!

[url="http://www.haart.co.uk/properties/search.asp"]http://www.haart.co.uk/properties/search.asp[/url]

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[quote name='Van' date='Jan 26 2005, 08:06 AM']Any chance of getting this pinned?

[url="http://www.haart.co.uk/properties/pricereduced.asp"]http://www.haart.co.uk/properties/pricereduced.asp[/url]

913 reductions as at 26/1/05, from a total of 9823.
Check back every day.
[right][post="60379"]<{POST_SNAPBACK}>[/post][/right][/quote]


Now its 9824 !

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I would be intersted to know what their criteria is for the "attracting the most attention" option for their searches.

This brings up results for 6922 properties out of a total of 9824?? :blink: :blink:

It appears that "just one click" is all it takes!!

CF

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Might as well extend this to Haarts' various brands to see how different markets are faring.

Haart: General, most of the south & midlands
Felicity J Lords: Plush London properties
Spicer McColl: London, Essex, Kent, Hartfordshire, Cambridgeshire, Norfolk, Sufolk
Bailys: East Sussex
Darlows: South Wales

Results:

Haart: 969/9837 (9.85%)
FJL: 64/780 (8.2%)
Spicer McColl: 403/3653 (11.03%)
Bailys: 9/56 (16.07%)
Darlows: 148/1940 (7.63%)

To be updated from time to time!

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I have just telephoned an estate agent in the North West on request of my sister to see if her colleague's property has sold for £135 and it has ! although I know she had to drop her price by a few thousand! I think she is very lucky to have sold it as the market is flooded around here.

I ended up chatting to the EA who wouldnt let me off the phone - every time I tried to end the call she asked me another question. Basically she frightened the hell out of me. All I wanted to know was if the property was still on the market. She kept me on the phone for 5 minutes asking how much deposit I had and who is mortgage offer with, and she could get me a better one, blah, blah, blah.

According to her property is flying off the shelves !!! :lol: and that the downturn in the market is only in London. :rolleyes: Cant believe it myself. I have been checking rightmove co uk and there is over 250 properties for sale just in my local area with more added each day. Another EA has dozens of reduced sales and no chains. Also I have lost count of the new property thats being thrown up. There are new developments everywhere! :lol:

At lunchtime I strolled around the estate agents in Manchester town centre - every one was empty. A letting agency (who I have rented from in the past) has decided to dedicate a window to sales instead of the to lets? :rolleyes:

Speaking to that EA actually made my skin crawl - yuk - doesnt fill me with hope when it comes to my turn! :o

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[quote]She kept me on the phone for 5 minutes[/quote]


If property is flying off the shelves, why does she have 5 minutes to spend on the phone begging you to buy? :lol: :lol: :lol: :lol: :lol: :lol:

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[quote name='zzg113' date='Jan 27 2005, 03:41 PM']If property is flying off the shelves, why does she have 5 minutes to spend on the phone begging you to buy? :lol:  :lol:  :lol:  :lol:  :lol:  :lol:
[right][post="61280"]<{POST_SNAPBACK}>[/post][/right][/quote]

I know !!!

She kept chewing my ear off - then asked for my phone number. I told her I didnt have a phone. The only way I could end the call was to give her my address so she could send info out !!!!

I'll let you know how many properties are on her books - bet she has hardly any - i mean if they are flying off the shelves !!!! :lol:

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[quote]I told her I didnt have a phone[/quote]

:lol: :lol: :lol: :lol:

[quote]The only way I could end the call was to give her my address so she could send info out !!!![/quote]


I would have given her a false address.

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[quote name='Gtr London FTB' date='Jan 27 2005, 03:14 AM']995
[right][post="61261"]<{POST_SNAPBACK}>[/post][/right][/quote]

1004! Hooray!

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