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Flood Of New Instructions Coming!


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Spoke to friendly local EA today about what's in the pipeline, was told of a surprising amount of new instructions, had visited 40 already in past week with full days of appointments booked yesterday and today to add to it. This was described as a 'flood' by the agent, seemed genuinely surprised given the paucity of supply of new stock in recent months, will be on the market by Feb once HIPS is sorted.

I'm guessing there's normally a bit of a New Year surge, this year it's been postponed by bad weather and the need for a HIPS. Perhaps there's more of a 'flood' this year as the recession/divorce/debt problems are mounting. Couple that with interest rate fears and tax increases after the election, people are deciding to sell up now while they can.

It's the fabled 'pent-up supply', coming to a town near you soon!! :)

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If people can't hang on in with a ZIRP from central banks and untold stimulus measures then things are going to get very interesting should the money printing dry up and interest rates increase.

However, I'd see the next leg down as triggering even more stupid giveaways and printing so be alert for the turn as governments simply increase what they have been doing on the grounds that it was 'working' until they started to reign in lax monetary policy. I would have thought this spring a good time to buy but all that interference has pushed things back 9-12 months.

I have a 'fair and affordable price' in mind for the sort of property I want to buy so when it hits that level I won't be hanging on too long in the hopes of catching the absolute bottom of the market. No point in being the mirror image of the sorts of people who wouldn't sell their house because it 'only' made them xxx thousands of quid in the time they owned it.

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Spoke to friendly local EA today about what's in the pipeline, was told of a surprising amount of new instructions, had visited 40 already in past week with full days of appointments booked yesterday and today to add to it. This was described as a 'flood' by the agent, seemed genuinely surprised given the paucity of supply of new stock in recent months, will be on the market by Feb once HIPS is sorted.

I'm guessing there's normally a bit of a New Year surge, this year it's been postponed by bad weather and the need for a HIPS. Perhaps there's more of a 'flood' this year as the recession/divorce/debt problems are mounting. Couple that with interest rate fears and tax increases after the election, people are deciding to sell up now while they can.

It's the fabled 'pent-up supply', coming to a town near you soon!! :)

No supply at all in my area only 252 propertys added in the last 14 days for the whole town

bournemouth

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Spoke to friendly local EA today about what's in the pipeline, was told of a surprising amount of new instructions, had visited 40 already in past week with full days of appointments booked yesterday and today to add to it. This was described as a 'flood' by the agent, seemed genuinely surprised given the paucity of supply of new stock in recent months, will be on the market by Feb once HIPS is sorted.

I'm guessing there's normally a bit of a New Year surge, this year it's been postponed by bad weather and the need for a HIPS. Perhaps there's more of a 'flood' this year as the recession/divorce/debt problems are mounting. Couple that with interest rate fears and tax increases after the election, people are deciding to sell up now while they can.

It's the fabled 'pent-up supply', coming to a town near you soon!! :)

Yes the property section of my local rag is chunky today.

Let's hope this is the start of the phase during which the lack of FTBs is really laid bare as those in starter homes decide to upgrade.

Of course, someone could start doing self-cert and 100% again. I wouldn't count anything out completely in the insane game that is the UK property market, but I think the state of banks' finances is too parlous for them to have the appetite for any more risk right now.

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Yes the property section of my local rag is chunky today.

Let's hope this is the start of the phase during which the lack of FTBs is really laid bare as those in starter homes decide to upgrade.

Of course, someone could start doing self-cert and 100% again. I wouldn't count anything out completely in the insane game that is the UK property market, but I think the state of banks' finances is too parlous for them to have the appetite for any more risk right now.

The thing is if 500 or a 1,000 new properties come on the market this month then how long will it be before the penny drops with the sellers? Six months? A year? Longer?

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No supply at all in my area only 252 propertys added in the last 14 days for the whole town

You now can't market a house for sale until a HIP is completed and available to read. Takes about 4 weeks, if there is a 'flood' of instructions, it will take longer.

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The thing is if 500 or a 1,000 new properties come on the market this month then how long will it be before the penny drops with the sellers? Six months? A year? Longer?

They don't all have to get it at once though.

You only need a few to capitulate every week.

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Spoke to friendly local EA today about what's in the pipeline, was told of a surprising amount of new instructions, had visited 40 already in past week with full days of appointments booked yesterday and today to add to it. This was described as a 'flood' by the agent, seemed genuinely surprised given the paucity of supply of new stock in recent months, will be on the market by Feb once HIPS is sorted.

I'm guessing there's normally a bit of a New Year surge, this year it's been postponed by bad weather and the need for a HIPS. Perhaps there's more of a 'flood' this year as the recession/divorce/debt problems are mounting. Couple that with interest rate fears and tax increases after the election, people are deciding to sell up now while they can.

It's the fabled 'pent-up supply', coming to a town near you soon!! :)

Isn't it normally this time of year that both supply AND demand begin to rise though? Most of these sellers will buy another house somehwere else?

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Isn't it normally this time of year that both supply AND demand begin to rise though? Most of these sellers will buy another house somehwere else?

Yes, but the key words are "begin" and "most".

And "margins".

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Yes the property section of my local rag is chunky today.

Let's hope this is the start of the phase during which the lack of FTBs is really laid bare as those in starter homes decide to upgrade.

Of course, someone could start doing self-cert and 100% again. I wouldn't count anything out completely in the insane game that is the UK property market, but I think the state of banks' finances is too parlous for them to have the appetite for any more risk right now.

What risk?

They've already established that there is no risk to them, they simply pass the risk onto taxpayers. :angry:

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We're keeping a fairly close eye on Harrogate, looking to buy, but in no hurry, will probably hang fire till post-election.

One street, previously substantial terraced housing, now probably 60-70% houses subdivided into flats luxury apartments(sorry 'bout that) and HMO's / single rooms e.t.c. Seems to have been a rash of signage boards appear in the last 10 days, a few to let but many 'for sale'

Sounds like the smart money :lol: is getting out whilst they can.

Very rarely get the local free paper delivered, but popped onto the mat this week - lots of new instructions (lots!)

All these new houses to the market - could be a green shoot!

sick.gif

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Spoke to friendly local EA today about what's in the pipeline, was told of a surprising amount of new instructions, had visited 40 already in past week with full days of appointments booked yesterday and today to add to it. This was described as a 'flood' by the agent, seemed genuinely surprised given the paucity of supply of new stock in recent months, will be on the market by Feb once HIPS is sorted.

I'm guessing there's normally a bit of a New Year surge, this year it's been postponed by bad weather and the need for a HIPS. Perhaps there's more of a 'flood' this year as the recession/divorce/debt problems are mounting. Couple that with interest rate fears and tax increases after the election, people are deciding to sell up now while they can.

It's the fabled 'pent-up supply', coming to a town near you soon!! :)

Pants.

I see you have learned nothing.

In 5 years of dealing with EA's I never heard a scintilla of good prophecy from any of them.

If they tell you something is in the pipeline, you can be rest assured it is a huge turd, stuck - wrapped in too much toilet roll - and not going where it should be.

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We're keeping a fairly close eye on Harrogate, looking to buy, but in no hurry, will probably hang fire till post-election.

One street, previously substantial terraced housing, now probably 60-70% houses subdivided into flats luxury apartments(sorry 'bout that) and HMO's / single rooms e.t.c. Seems to have been a rash of signage boards appear in the last 10 days, a few to let but many 'for sale'

Sounds like the smart money :lol: is getting out whilst they can.

Very rarely get the local free paper delivered, but popped onto the mat this week - lots of new instructions (lots!)

All these new houses to the market - could be a green shoot!

sick.gif

My patch too and the interesting thing is the number of properties that were SSTC and then fell through in November and December 6 out of 6 off Leeds Road. There were less properties sold in 09 than 08 despite QE and record IRs even in an illusion of affluence place like Harrogate.

That said when you see a house that was brought for £70k in 2001 now marketed at £279k you know there is a long way for reality to set in.

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My patch too and the interesting thing is the number of properties that were SSTC and then fell through in November and December 6 out of 6 off Leeds Road. There were less properties sold in 09 than 08 despite QE and record IRs even in an illusion of affluence place like Harrogate.

SSTC is the new BTL! I get the impression that much of the harrogate market is propped up by people who could afford to go down by 50k and write it off as foolish frippery, money out until the next bubble starts foaming.

Seems to be split by those who are starting to get a twitchy snippet valve (200k houses dropping rapidly to circa 175atm) and the other bulls who cannot accept a new reality, some seriously shady properties making a smell in the 200k price range!

Harrogate is probably one of the most protected markets in the NE though, BOMAD is strong on this one!

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  • 434 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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