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Have seen a large number of previously "STC" properties coming back onto RM as "available" in the last week. Has anyone else noticed this in their area? If this situation is replicated across the country, at this time of year, what are the implications for the autumn/winter?

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Have seen a large number of previously "STC" properties coming back onto RM as "available" in the last week. Has anyone else noticed this in their area? If this situation is replicated across the country, at this time of year, what are the implications for the autumn/winter?

Not looking good.

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Have seen a large number of previously "STC" properties coming back onto RM as "available" in the last week. Has anyone else noticed this in their area? If this situation is replicated across the country, at this time of year, what are the implications for the autumn/winter?

Hardly a day goes buy without some poster making the same observation.

It could be the end of the bounce, but unlikely.

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Yup - loada houses coming back onto RM - getting umpteen texts/emails about chains falling through. What a shame.... Actually is a shame for those who are affected,but another few weeks or so, and those buyers will get a better deal - I hope

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I've a list of only about 30 properties all between £100 000 and £200 000. Of them, about ten are SSTC, one has reverted to available(in the last few days), but the others have been SSTC for a suspiciously long time.

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Have seen a large number of previously "STC" properties coming back onto RM as "available" in the last week. Has anyone else noticed this in their area? If this situation is replicated across the country, at this time of year, what are the implications for the autumn/winter?

Yep, I'd agree. Properties were moving around these parts (North London) up until about 3 weeks ago. I'm now passing a few nice properties each day that have seen EA changes (i.e. new board stapled over the old ones) in the last week or so. Three months ago these would have sold quickly.

I don't think the "silly season" is officially usually over for the housing market until early Sept., so I guess we've still about 5-6 weeks to go. But it seems to have stalled early as far as I can tell.

Guess the next 6 months should be interesting. :)

Nomadd

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Yup - loada houses coming back onto RM - getting umpteen texts/emails about chains falling through. What a shame.... Actually is a shame for those who are affected,but another few weeks or so, and those buyers will get a better deal - I hope

who are you getting texts/emails from? Are EAs that desperate that they are texting would-be buyers letting them know that sales have collapsed?

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The bounce ended in my area at the end of May.

+1, I look everyday at the New Milton, Lymington,Christchurch areas, where lots of the better properties suddenly went under offer in April / May not much at all has in June or July. I would say the spring bounce has sprung and is now a dead parrot!

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Berkshire has been seeing things fail often enough for me to notice. Whilst I don't actively watch the properties on RM (the only source for such data? Or just the biggest one?) ... at least 3 I had been interested in seeing are back on the market .. and I had only wanted to arrange 5 viewings. 3out of 5 chains the EAs had previously been excited about ... wow!

So likely a statistical anomaly (sample set so small as to make it meaningless) ... but weird, nonetheless. Why would 60% of the sales of desirable (to me) properties around me fail within 3 weeks of each other?

I have stopped looking/asking to view places for unrelated reasons ... but it would be nice if the bounce is over in the next few months (I am currently thinking to start looking again in Dec/Jan).

Aidanapword

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Hardly a day goes buy without some poster making the same observation.

It could be the end of the bounce, but unlikely.

why is it unlikely when every other bubble in history has followed this pattern? is it different this time?

I made a quick BOAFP calc and Colchester alone was taking up 1000 of the 38000 "approvals" for mortgages.

doesnt leave a lot of hope for the 500 or so other Colchesters in the UK.

Its easy to make a SSTC.. you tell the Agent you want it. job done.

Edited by Bloo Loo

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Its easy to make a SSTC.. you tell the Agent you want it. job done.

Quite. Friend of mine accepted an offer on their house just over 2 weeks ago. Has heard nothing since. No survey arranged, no communication from EA. He phoned EA yesterday, only to be told that the person dealing with his sale was "out of the office until next week". He is beginning to get a wiff of a rat.

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why is it unlikely when every other bubble in history has followed this pattern? is it different this time?

I made a quick BOAFP calc and Colchester alone was taking up 1000 of the 38000 "approvals" for mortgages.

doesnt leave a lot of hope for the 500 or so other Colchesters in the UK.

Its easy to make a SSTC.. you tell the Agent you want it. job done.

Doesn't really matter how many sales fall through, it's the numbers completing that are important.

Edited by Dino

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Hardly a day goes buy without some poster making the same observation.

It could be the end of the bounce, but unlikely.

How can we have rising houses prices when we have rocketing "official" unemployment nearing 2.5 million, with 3 million expected to be unemployed by Christmas?

The EAs have been busy in trying to turn the market, rather like the German army's cunning counter-attack through the Ardennes in late 1944, which worked for a short while. Now the EAs have run out of steam and are going to be crushed by the superior forces of the HPC.

Edited by Take Me Back To London!

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The bounce ended in my area at the end of May.

Same here in Worcester, Birmingham, Lichfield, etc. June saw the number of properties going SSTC fall back to about 1.5 properties per week per Estate Agency, on average, in the areas I have named. Since the beginning of July there have been plenty of previously SSTC properties becoming available and the first 2 weeks of July has seen the number of properties going SSTC falling back even further. It certainly looks like the bounce has ended up here in the West Midlands - I guess this will begin to feed into the stats in the next couple months.

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Lots of new property coming on to the market, mostly 1 bed flats. Problem with some developments are short leases of 80-82 years and crazy maintanace charges. One 1 bed flat has 170 quid pm /10 months charge! and is nowhere near Mayfair. Impossible to sell me thinks

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How can we have rising houses prices when we have rocketing "official" unemployment nearing 2.5 million, with 3 million expected to be unemployed by Christmas?

Granted, the two don't usually go together. But all the data suggests this is now happening.

Unemployment usually coincides with high interest rates, so maybe in previous crashes it was the high interest rates that caused prices to fall.

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