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Ted D. Bear

Stock Levels Increasing Sharply In The Last Week Or Two

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Mrs T.D.Bear and I have been keeping our eyes on a few areas of London with an eye to buying if the right place at the right place came up (why? non-economic reasons mainly, would like somewhere more permanant, and a bit worried about the prospects of inflation). Since spring there has been very little coming on the market in the few areas we would consider, but the last few weeks has seen a flood. One street in particular that we've had our eye on has not had anything for sale since early 2008 had two houses come on in the space of a week, and property bee is revealing a whole load of new listings in general. An EA we spoke to said they had had taken on six instructions to sell *that morning* !

Have any other market-watchers noticed this? Is this all the people who could/would not sell over the last year rushing in on the back of all the 'good news'? As there has only been a modest recovery in mortgage lending I wonder if this could usher in a new down-leg over the next few months :)

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Same in Cornwall. Same old dross as well. It will be interesting to see if they keep them on when prices drop or will they be taken off again?

Most of the ones down around here are 'no chain' ones. Nobody can afford a house round here, yet loads are sat empty! Grrrrr.

Edit : For poor spelling, makes me look retarded. ;)

Edited by XswampyX

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I am very keen to know. If those of you in here are expecting property prices to come down by a further 15%, would you then buy?

And when you are thus a homeowner, would you then encourage HPI?

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I am very keen to know. If those of you in here are expecting property prices to come down by a further 15%, would you then buy?

And when you are thus a homeowner, would you then encourage HPI?

pretty much spot on.

acually, high house prices dont really benefit anyone, or very few anyway, at least not the people who need the benefit. so no, im not interested in HPI if im honest, i earn my living every day. I'm not interested in robbing my children.

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Round the Berkshire way there seems to be more stock coming on and the prices of existing stock are regularly getting revised downwards.

I am interested in the effect of HIPS. As owners now, in effect, have to pay to list their houses, I wonder what that will do to their determination to sell. I suspect it will mean that owners listing their houses thatfor sale really do intend to sell as opposed to the huge amounts of 'kite flying' that went on pre HIPs.

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Have any other market-watchers noticed this? Is this all the people who could/would not sell over the last year rushing in on the back of all the 'good news'? As there has only been a modest recovery in mortgage lending I wonder if this could usher in a new down-leg over the next few months :)

I haven't seen any obvious increase in stock levels in Guildford in the last week or two: it's been pretty low level for some months now. I hope that we will start to see more properties on the market especially as there have been plenty of press reports about the Nationwide and Halifax index increases. This might spur on would-be sellers to list their properties which would then dampen down or even reverse the figures from the two main indices.

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Had a look today and lots of new properties have suddenly come onto the marker here (Croydon) as well. Prices are high though, I reckon most are only 5-10% below peak, so it will interesting to see if any actually sell.

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