moonriver Posted September 3, 2009 Share Posted September 3, 2009 http://www.channel4.com/news/articles/busi...+august/3329477 "The number of homes for sale increased for the first time in four months during August despite the housing market suffering its traditional seasonal slowdown. The average estate agent had 64 properties on their books during the month, up from 59 in July and the first rise since April, according to the National Association of Estate Agents (NAEA)." http://www.google.com/hostednews/ukpress/a...S6nhgm9ygD-1uxQ Wonder if this is due to forced sellers? sellers who previously held back now putting their place up for sale, because they believe prices have gone up? sellers wanting to offload because they think prices are due to go down? Quote Link to comment Share on other sites More sharing options...
dunedin Posted September 3, 2009 Share Posted September 3, 2009 (edited) A Fair percentage were reluctant landlords now going back on the market, i fear a shortage of rental properties may force up rents Edited September 3, 2009 by dunedin Quote Link to comment Share on other sites More sharing options...
Sybil13 Posted September 3, 2009 Share Posted September 3, 2009 http://www.channel4.com/news/articles/busi...+august/3329477"The number of homes for sale increased for the first time in four months during August despite the housing market suffering its traditional seasonal slowdown. The average estate agent had 64 properties on their books during the month, up from 59 in July and the first rise since April, according to the National Association of Estate Agents (NAEA)." http://www.google.com/hostednews/ukpress/a...S6nhgm9ygD-1uxQ Wonder if this is due to forced sellers? sellers who previously held back now putting their place up for sale, because they believe prices have gone up? sellers wanting to offload because they think prices are due to go down? Article last month re negative equity As the FT points out this morning, all these people stuck in their homes are creating a glut of hidden property , which in turn is likely to depress house prices further. Even a short term rise in prices, Fitch argues, is likely to make things worse in the longer term, by encouraging trapped sellers to put their homes in the market, which in turn will push prices down again. It sounds like a vicious circle with no way out, for the immediate future at least Quote Link to comment Share on other sites More sharing options...
Warwick-Watcher Posted September 3, 2009 Share Posted September 3, 2009 http://www.channel4.com/news/articles/busi...+august/3329477"The number of homes for sale increased for the first time in four months during August despite the housing market suffering its traditional seasonal slowdown. The average estate agent had 64 properties on their books during the month, up from 59 in July and the first rise since April, according to the National Association of Estate Agents (NAEA)." http://www.google.com/hostednews/ukpress/a...S6nhgm9ygD-1uxQ Wonder if this is due to forced sellers? sellers who previously held back now putting their place up for sale, because they believe prices have gone up? sellers wanting to offload because they think prices are due to go down? The Wilsons? That's 700 properties added to the listings! Imagine the work involved in producing the HIPS pack for each one - as required by law before they can be marketed! That's about £140k in fees alone! Quote Link to comment Share on other sites More sharing options...
the primitive Posted September 3, 2009 Share Posted September 3, 2009 http://www.channel4.com/news/articles/busi...+august/3329477"The number of homes for sale increased for the first time in four months during August despite the housing market suffering its traditional seasonal slowdown. The average estate agent had 64 properties on their books during the month, up from 59 in July and the first rise since April, according to the National Association of Estate Agents (NAEA)." http://www.google.com/hostednews/ukpress/a...S6nhgm9ygD-1uxQ Wonder if this is due to forced sellers? sellers who previously held back now putting their place up for sale, because they believe prices have gone up? sellers wanting to offload because they think prices are due to go down? I think a bit of all of those sounds likely. If there are more properties on the market, especially if the sellers NEED to sell, prices will have to fall. Will be slow and painful though, sentiment is bafflingly strong for rising prices being good in this country. Quote Link to comment Share on other sites More sharing options...
moonriver Posted September 3, 2009 Author Share Posted September 3, 2009 http://www.google.com/hostednews/ukpress/a...xQ"However, economists have attributed recent price increases to the market finding some support due to a shortage of stock, and they have warned that if properties flood on to the market, prices could begin falling again". I reckon this bit of the article will be enough to panic many into putting their property up for sale now, rather than waiting any longer. But looks like they may of left it too late with the number of buyers going down fast. "the number of househunters registered with estate agents dropping to 238 on average, down from 292 in July." Quote Link to comment Share on other sites More sharing options...
moonriver Posted September 3, 2009 Author Share Posted September 3, 2009 The Wilsons? That's 700 properties added to the listings!Imagine the work involved in producing the HIPS pack for each one - as required by law before they can be marketed! That's about £140k in fees alone! yes that is certainly a lot of fees, and many more properties to be added to agents books. Quote Link to comment Share on other sites More sharing options...
SarahBell Posted September 3, 2009 Share Posted September 3, 2009 The Wilsons? That's 700 properties added to the listings!Imagine the work involved in producing the HIPS pack for each one - as required by law before they can be marketed! That's about £140k in fees alone! Isn't there an exclusion for multiple sales? Quote Link to comment Share on other sites More sharing options...
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