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I am not sure if it is just me, but in the area I am looking around sussex, there appears to be an increase in the number of properties coming on, anyone else noticing the same?

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Same here Norf Lunun.

Problem, 2007 prices.

Yup - I'm seeing a bit of that in my patch of N. London too. Crucial point is, though: they aren't selling.

Only places selling around here have been substantially reduced from original asking prices.

It would appear, like the bulls on this site, there are many deluded vendors out there who believe that:

a. we've hit the bottom and we're on the way back up

b. 2007 prices were 'the norm' and we'll soon be back there, so why not price accordingly

c. mortgage financing is currently 'abnormal' and that we will soon return to 'the norm' of 125% loans/self-certs/IO..etc..

d. the recession is ending and that rising unemployment is no cause for concern

Wrong on all counts, I'm afraid... <_<

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Yeah prices dont appear to be 2007 price, they seem to vary. I have been looking at sold prices between late last year and march this year thou and they appear to be hovering around the 2004 mark!

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Yup - I'm seeing a bit of that in my patch of N. London too. Crucial point is, though: they aren't selling.

Only places selling around here have been substantially reduced from original asking prices.

It would appear, like the bulls on this site, there are many deluded vendors out there who believe that:

a. we've hit the bottom and we're on the way back up

b. 2007 prices were 'the norm' and we'll soon be back there, so why not price accordingly

c. mortgage financing is currently 'abnormal' and that we will soon return to 'the norm' of 125% loans/self-certs/IO..etc..

d. the recession is ending and that rising unemployment is no cause for concern

Wrong on all counts, I'm afraid... <_<

I looking in NW London. And its the same - totally agree with comments above - although I don't think© even crosses their mind. properties coming on for MORE than their 2007 values. Told agent today that I wasn't even going to see house to make an offer because it was actually half price to rent, and she said I'd lose out when prices went up again!

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Dribs and drabs here in SE London. Some "under offer" going back to available (and vice versa).

Here's one just on at approx 2007 price

http://www.rightmove.co.uk/property-for-sa...y-24963623.html

Check the reference in the disclaimer, it gives you the house number: 167

http://www.houseprices.co.uk/e.php?q=SE24+0JB&n=50

Sold price in 2003: 250k + 4.3 years of 10% HPI = current asking price of 375k.

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North Londoner here as well. Yep, totally agree. A glut of stuff is coming on in N1/NW1. Vendors actually think the recovery is back on.

What I have also found over the past week or so is that estate agents have been calling me again. I was seen by estate agents as a bit of a waste of time as I wasn’t prepared to pay silly money. During the spring bounce, there was a definite lull in communication, probably because they were getting enough potential buyers prepared to pay over the odds for a limited supply of housing.

Cash buyers are definitely drying up and now supply has increased, I’m being called again. And like you Grizzly Bear, I’ve told them I’m not even going to bother viewing houses that are asking 2007 prices.

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Yup - I'm seeing a bit of that in my patch of N. London too. Crucial point is, though: they aren't selling.

Only places selling around here have been substantially reduced from original asking prices.

It would appear, like the bulls on this site, there are many deluded vendors out there who believe that:

a. we've hit the bottom and we're on the way back up

b. 2007 prices were 'the norm' and we'll soon be back there, so why not price accordingly

c. mortgage financing is currently 'abnormal' and that we will soon return to 'the norm' of 125% loans/self-certs/IO..etc..

d. the recession is ending and that rising unemployment is no cause for concern

Wrong on all counts, I'm afraid... <_<

I have some sympathy for the position unforced sellers find themselves in. If they want to move up to a larger property, or downsize to a smaller one, what are they meant to do? They don't have to sell, and to lower their price enough to ensure a sale wouldn't make sense when their next property is still overpriced.

Basically, unforced sellers can afford to follow the market down, but they can't afford to lead it down.

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I can't say I've noticed an increase in new properties coming onto the market in Sussex. Judging by the number of new listings coming through on my automated e-mail set up, the volume has gone down if anything, and what does come through, is mostly dross.

My suspicion is that much of the quality stock is sold off market by EAs who have willing and ready buyers on their books just waiting for the right house to come up, so only the less interesting or overpriced stuff is openly marketed.

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I can't say I've noticed an increase in new properties coming onto the market in Sussex. Judging by the number of new listings coming through on my automated e-mail set up, the volume has gone down if anything, and what does come through, is mostly dross.

My suspicion is that much of the quality stock is sold off market by EAs who have willing and ready buyers on their books just waiting for the right house to come up, so only the less interesting or overpriced stuff is openly marketed.

I guess it depends which area within sussex we are talking about. But as I said it could just be me!

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I can't say I've noticed an increase in new properties coming onto the market in Sussex. Judging by the number of new listings coming through on my automated e-mail set up, the volume has gone down if anything, and what does come through, is mostly dross.

My suspicion is that much of the quality stock is sold off market by EAs who have willing and ready buyers on their books just waiting for the right house to come up, so only the less interesting or overpriced stuff is openly marketed.

That was my experience at the end of last year. Time line from first visit by EA and accepting an offer was 4 days. (Obviously I had to price realsitically but the EA clearly had people in mind for the house from the off.) When my job relocation fell through it risked screwing a chain of 6 deals - but the EA found my buyer a suitably priced alternative within 2 days, and they completed within a week to keep the chain intact.

I don't think there is anything we should call "the market". There seems in reality to be two markets. There is the realistic, which (in my area) is moving fairly swiftly, and the remainder, which has been stagnant for a long while.

PS I've noticed a lot of boards for this same realistic EA sprouting up and swiftly moving to 'sold' and, as far as one can judge, they appear to actually be selling. Of course one agent does not a market make. This chap was experienced, had survived through previous recessions, and clearly knows what has to be done.

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and she said I'd lose out when prices went up again!

here we go again EA's full of themselves i would of been inclined to Punch her lol

On another note i have noticed in Milton Keynes that we getting new properties on the market, if i use rightmove and look at added in the last 24 hours there is quite a few each day BUT most are very high end expensive houses that noraml folk coudl not afford.

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Yeah prices dont appear to be 2007 price, they seem to vary. I have been looking at sold prices between late last year and march this year thou and they appear to be hovering around the 2004 mark!

You don't say where you are from so that's not very helpful.

====================

I wondered when the people who were holding off selling until the conditions got better were going to put their houses on the market. That's really funny. A few green shoots and all this new supply materialises.

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Guest Steve Cook
I am not sure if it is just me, but in the area I am looking around sussex, there appears to be an increase in the number of properties coming on, anyone else noticing the same?

Definitely

I'm in york

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here we go again EA's full of themselves i would of been inclined to Punch her lol

it was a phone call so hard to punch.

as its a house i would really like to buy to wind her up told her that i would he very happy to buy house but wouldn't make offer now, the day it came onto market as vendor would laugh at it. she tried to ask me what the offer was but i just said i wanted to wait until property had been on market for 3 months.

history on this house:

Its a probate, in exact location we are looking for - it was in a poor (1960s) state:

Jan 08 owner dies

March 08 put on market at £1.35m (!!!)

July 08 reduced to £1.15m

September 08 we made offer £900k - they refused

October 08 - they tried to accept our offer - we had already rented house

November 08 price dropped to £950k

December 08 price removed and advert says "offers invited"

March 09 house taken off market and builders move in - done up to high standard

June 09 back on market at £1.275m

Let me know if you want link - suggestions for what we should offer now welcome!

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Yup - I'm seeing a bit of that in my patch of N. London too. Crucial point is, though: they aren't selling.

Only places selling around here have been substantially reduced from original asking prices.

It would appear, like the bulls on this site, there are many deluded vendors out there who believe that:

a. we've hit the bottom and we're on the way back up

b. 2007 prices were 'the norm' and we'll soon be back there, so why not price accordingly

c. mortgage financing is currently 'abnormal' and that we will soon return to 'the norm' of 125% loans/self-certs/IO..etc..

d. the recession is ending and that rising unemployment is no cause for concern

Wrong on all counts, I'm afraid... <_<

Excellent summary of the entire property pyramid scam as it now is........... :P:P

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Let me know if you want link - suggestions for what we should offer now welcome!

link please! Got an hour free this afternoon to help wind up an estate agent or 2!

got 'summer pridham' in twells on the go at the mo - having great fun!!!

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I am not sure if it is just me, but in the area I am looking around sussex, there appears to be an increase in the number of properties coming on, anyone else noticing the same?

I've noticed the same in my area (Essex/E London). V positive for anyone hoping for further price falls, esp if people put them on at 07 prices.

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i'm in surbiton/kingston area

got alerts from rightmove, primelocation and other set up

last few weeks, i'm getting into work each morning to find a bout a dozen new properties a day in my inbox....compared to 2-3 per day a few weeks ago

been looking at sold prices - most stuff going at 15% below asking prices......and asking prices are definitely down by around 10%

even with my poor mathematical brain...that's telling me that's what seeling is now about 25% from peak

keep the ball rolling......!! ;)

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Within the price band I keep an eye on in BRISTOL there has been an increase since directly after easter.

Some of the ASKING prices are back to peak levels.

Some much more realistic.

Bodes well.

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Received my first "fishing" letter from our dear friends Foxtons today. Usual BS - "we have interested buyers in your area, etc."

Definitely more bullish EAs at present.

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i got a voicemail yesterday from an EA i'd spoken to a few weeks ago... he was quite nice to speak to, had an excellent phone manner, but i'm not interested in what he's got on offer... a typical property seems to have listed for 2-6 months, with an asking price equal to around peak or perhaps slightly (e.g. maybe around 5% or so) above or below, strong hints from EA that they'd accept 10% below asking, but not good enough. i won't return the call and am just not interested in those prices - i can 'afford' to upsize but refuse to commit that kind of proportion of my household income to housing costs... i'd be much better off staying in the smaller place i'm in now and spending my money things that i'll get more enjoyment out of.

Edited by the flying pig

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Same here Norf Lunun.

Problem, 2007 prices.

why? any bank valuation will be automatically 20% or more down. no mortgage -> no sale ...

NOBODY who needs a mortgage will be able to afford 2007 prices ...

so the sellers after 5 crashed STC will get a lesson ... we need another 6-12 months ...

100% guaranteed ...

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