Van Posted January 26, 2005 Share Posted January 26, 2005 (edited) http://www.haart.co.uk/properties/pricereduced.asp 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 in the last 7 days. 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 February 10, 2005 by Van Link to comment Share on other sites More sharing options...
Justice Posted January 26, 2005 Share Posted January 26, 2005 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 Link to comment Share on other sites More sharing options...
Van Posted January 26, 2005 Author Share Posted January 26, 2005 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. Link to comment Share on other sites More sharing options...
Mr Tickle Posted January 26, 2005 Share Posted January 26, 2005 Think Consa has been monitoring these figs, interesting indeed, If I remember correctly they were in the 400's at the beginning of Jan! Link to comment Share on other sites More sharing options...
Control Freak Posted January 26, 2005 Share Posted January 26, 2005 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.<{POST_SNAPBACK}> Van, These drops are more impressive than you give credit for: The quoted number is for House Price Reductions within the last seven days only!! It is a rolling average. Therefor, the total 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 Link to comment Share on other sites More sharing options...
Van Posted January 26, 2005 Author Share Posted January 26, 2005 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?? Link to comment Share on other sites More sharing options...
jpjh Posted January 26, 2005 Share Posted January 26, 2005 http://www.haart.co.uk/properties/finding.asp 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. If you are looking for the best value take a look at our properties that have been reduced in the last 7 days .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? Link to comment Share on other sites More sharing options...
Van Posted January 26, 2005 Author Share Posted January 26, 2005 Holy cowdung, you're right! That is impressive! Link to comment Share on other sites More sharing options...
Control Freak Posted January 26, 2005 Share Posted January 26, 2005 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??<{POST_SNAPBACK}> Go to the 'Finding a Property' page (See link) http://www.haart.co.uk/properties/finding.asp You will see there, it says: Why not take a look at the very latest properties that have come onto the market or those that will be coming soon. If you are looking for the best value take a look at our properties that have been reduced in the last 7 days. 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 Link to comment Share on other sites More sharing options...
Van Posted January 26, 2005 Author Share Posted January 26, 2005 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! Link to comment Share on other sites More sharing options...
Marina Posted January 26, 2005 Share Posted January 26, 2005 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. Link to comment Share on other sites More sharing options...
Control Freak Posted January 26, 2005 Share Posted January 26, 2005 Any chance of getting this pinned?http://www.haart.co.uk/properties/pricereduced.asp 913 reductions as at 26/1/05, from a total of 9823. Check back every day. <{POST_SNAPBACK}> Van, Where/how did you get the figure for the total number of houses for sale? 937 reductions now!! CF Link to comment Share on other sites More sharing options...
Van Posted January 26, 2005 Author Share Posted January 26, 2005 Van,Where/how did you get the figure for the total number of houses for sale? 937 reductions now!! CF <{POST_SNAPBACK}> CF, just enter a search and leave all the fields blank! http://www.haart.co.uk/properties/search.asp Link to comment Share on other sites More sharing options...
Lenny Posted January 26, 2005 Share Posted January 26, 2005 Any chance of getting this pinned?http://www.haart.co.uk/properties/pricereduced.asp 913 reductions as at 26/1/05, from a total of 9823. Check back every day. <{POST_SNAPBACK}> Now its 9824 ! Link to comment Share on other sites More sharing options...
Control Freak Posted January 26, 2005 Share Posted January 26, 2005 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?? It appears that "just one click" is all it takes!! CF Link to comment Share on other sites More sharing options...
Van Posted January 26, 2005 Author Share Posted January 26, 2005 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! Link to comment Share on other sites More sharing options...
BufferBear Bitcoin Bull Posted January 26, 2005 Share Posted January 26, 2005 969 now. Link to comment Share on other sites More sharing options...
Control Freak Posted January 27, 2005 Share Posted January 27, 2005 988 Will we hit 4 figures?? Link to comment Share on other sites More sharing options...
Gtr London FTB Posted January 27, 2005 Share Posted January 27, 2005 995 Link to comment Share on other sites More sharing options...
Lenny Posted January 27, 2005 Share Posted January 27, 2005 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 !!! and that the downturn in the market is only in London. 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! 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? Speaking to that EA actually made my skin crawl - yuk - doesnt fill me with hope when it comes to my turn! Link to comment Share on other sites More sharing options...
zzg113 Posted January 27, 2005 Share Posted January 27, 2005 She kept me on the phone for 5 minutes If property is flying off the shelves, why does she have 5 minutes to spend on the phone begging you to buy? Link to comment Share on other sites More sharing options...
doogie Posted January 27, 2005 Share Posted January 27, 2005 1004 now. Link to comment Share on other sites More sharing options...
Lenny Posted January 27, 2005 Share Posted January 27, 2005 If property is flying off the shelves, why does she have 5 minutes to spend on the phone begging you to buy? Â Â Â Â Â <{POST_SNAPBACK}> 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 !!!! Link to comment Share on other sites More sharing options...
zzg113 Posted January 27, 2005 Share Posted January 27, 2005 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 would have given her a false address. Link to comment Share on other sites More sharing options...
dinamo Posted January 27, 2005 Share Posted January 27, 2005 995<{POST_SNAPBACK}> 1004! Hooray! Link to comment Share on other sites More sharing options...
Recommended Posts