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NotMyHouse

Pent Up Supply

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Interesting.

Cumbria is a big county, but not very heavily populated. Wikipedia reckons the population is 498,800.

Yesterday, in all of Cumbria, 1000 houses came on the market. That seems a lot to me.

Anyone else got any good examples of pent-up supply?

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Interesting.

Cumbria is a big county, but not very heavily populated. Wikipedia reckons the population is 498,800.

Yesterday, in all of Cumbria, 1000 houses came on the market. That seems a lot to me.

Anyone else got any good examples of pent-up supply?

Edinburgh. Rental market has twice the supply this year compared to the same time in 2008.

All the 'Rent it out instead' brigade.

Whenever the market does truly pick up - they will simply flood it again and suppress any major recovery.

HPC ammo stored for the future.

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Interesting.

Cumbria is a big county, but not very heavily populated. Wikipedia reckons the population is 498,800.

Yesterday, in all of Cumbria, 1000 houses came on the market. That seems a lot to me.

Anyone else got any good examples of pent-up supply?

This, from the RICS. Sales to stock ratio at historic low.Picture_1.png

post-14504-1244067531_thumb.png

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It's gonna be good inniit!!!!!!

Theres nothing quite as satisfying as taking a huge dump on a few green shoots!!!

Edited by sbn

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Interesting.

Cumbria is a big county, but not very heavily populated. Wikipedia reckons the population is 498,800.

Yesterday, in all of Cumbria, 1000 houses came on the market. That seems a lot to me.

Anyone else got any good examples of pent-up supply?

Kingswood Surrey

48 listings, probably 30 properties all with asking price over £1m.

The census area Kingswood with Burgh Heath has a population of 6,219. Kingswood is about 4000.

At 2.4 per household implies 1670 households.

So currently houses for sale over £1m represent 1.7% of the total number of houses.

Contrast with Reigate. 192 properties total for sale. Population of Reigate and Banstead 132,000 so about . So 0.35% of properties are for sale.

I repeat. Across the entire district of of Reigate and Banstead at all price ranges, 0.35% or 1 in 286 are for sale.

In Kingswood, only counting the £1m+ properties, 1.7% or 1 in 59 of the total are for sale just counting those over £1m.

Where are they going to find buyers for som many £1m+ homes. No wonder deals are being done at 40% off.

Edited by mikelivingstone

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Rentals in Northants up 30% in 6 months....last 3 weeks...hundered of properties comming on the market....the rush has started, prices already starting to drop again..Saw my first 4 bed detached with a double garage for under £240K for the first time since 2003...someones twigged...or did they twig too late for the last great escape...it makes for great viewing either way :lol:

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my 'benchmark' search on RM is still only showing a <20% decrease in the number of properties for sale from the 'peak'. i've been watching Stafford + 3 miles for more than 3 years. it topped out at 1002 or thereabouts. currently 825 (the lowest i've seen it).

i just don't buy the 'chronic lack of supply' thing. there's a big pile of choice out there...

and another 20% off current prices, people might 'snap them up'

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Yesterday, in all of Cumbria, 1000 houses came on the market.

A thousand houses in one day! Are you sure?

Even at 2 persons per house, that would mean that in about one year (say, 5 day week) the equivalent of all the houses in the county will come up for sale? I'm very happy to hear it but I don't believe it.

Perhaps it was 1000 houses since you last looked?

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Seeing a lot more supply coming on over the past 2 weeks. Getting daily RM updates again now. Surprisingly all are reasonably priced. Maybe EAs have started to realise lower valuations will benefit them right now. This extra supply will benefit buyers as we enter the slower half of the year for sales. Hope all this ramping continues for a while before the press get bored with 'recovereh' and start dooming again.

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Interesting.

Cumbria is a big county, but not very heavily populated. Wikipedia reckons the population is 498,800.

Yesterday, in all of Cumbria, 1000 houses came on the market. That seems a lot to me.

Anyone else got any good examples of pent-up supply?

Bring it on, Nationwide said last week:

“If the supply of homes onto the market does increase, the recent moderation in the pace of house

price falls may not be sustained.

Hometrack / Nationwide and RM all said the prices were ONLY going up because there were so few properties on the market.

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Interesting.

Cumbria is a big county, but not very heavily populated. Wikipedia reckons the population is 498,800.

Yesterday, in all of Cumbria, 1000 houses came on the market. That seems a lot to me.

Anyone else got any good examples of pent-up supply?

seems a lot to me too, i have seen many more houses come on the market in that area, and some quite big falls too

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Could the recent change in HIPs requirements have caused a temporary delay with regards to new properties coming to the market? I personally think that this may have something to do with it. I am really sick about hearing of this ‘shortage of supply’ so I really hope the deluge of new instructions continues.

Does anyone remember the ‘rents are flying up due to shortage of supply’ myth that all the EAs were peddling in late 2007/early 2008? Turned out to be a load of bull, and guess what, rents have been dropping like a stone for the last couple of years........ No doubt it got the EAs a whole bunch of new letting instructions though, which is what they wanted (or need to survive...)

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I'm seeing a big increase in properties coming onto the market and interestingly a lot of the 'executive' style houses. I think those who overstretched themselves with jumbo mortgages are getting very nervous.

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