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aptid

Pent Up Supply

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I have become frustrated at the lack of reasonably priced property up for sale locally in the North Yorks area so decided to try and tease some potential properties on to the market by placing "House Wanted" ads firstly in the property sections of local newspapers and secondly a week or two later, by placing "House Wanted" postcards in village shops in areas of interest.

The response was quite good from both areas (to date 20 calls in total) and split almost evenly between people who have property for sale already and were unhappy with agents and those that were going to put their property on the market in January (not Feb or March or spring but specifically January).

It will be interesting to see if that happens across the board.

Edit due to bad spelling

Edited by aptid

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I personally wouldn't be suprised if a lot more property comes on the market after Christmas. People are holding back from selling at the moment, I know lots of people who couldn't sell their property last year and have taken it off the market and not yet put it back on.

I guess people are thinking, get Christmas out the way and then we'll go for it!!

I live in south east cornwall and there is a a lack of properties on sale here, but then there hasn't been much demand either, well until recently. I keep an eye on the rightmove website and there were a lot of properties on there for sale for 6-9 months which have all of a sudden in the last month or two been sold. Properties seem to be selling all of a sudden recently. But buyers seem to be put off buying anything that needs even the tiniest bit of work! There are some real bargains about that just need a bit of redecoration and maybe a new bathroom and they are not even selling at auction.

There has been a lot in the news about house price increases being purely through lack of supply, so once houses start coming back on the market it will interesting to see if the increases will continue...

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There has been a lot in the news about house price increases being purely through lack of supply, so once houses start coming back on the market it will interesting to see if the increases will continue...

I think we all know the answer to that one!

Interesting OP, pent-up supply hiding behind the rightmove figures. So as a rule of thumb we can just double the available properties.

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Interesting perspective Frank, I hadn't thought of it that way. A good pointer to better buying opportunities perhaps?

Pauly, the ad was nothing special, House wanted with land or large gardens, areas xxx, yyy, zzz etc, able to proceed immediately, blah blah. Small box ad costing varying amounts depending on publication, average cost about £100.

I have also placed free house wanted ads on Gumtree and Property Hat, which also provide a trickle of potential properties.

The next stage could conceivably be letters to fanciable properties.

Edited 20 words per minute fingers 15 words per minute brain

Edited by aptid

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