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Huge Explosion Of New Properties On Rightmove

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Over 500 new properties in the last 24 hours within 5 miles of me. Normally between 20 and 50.

Is the withdrawal of HIPS releasing the pent-up supply?

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Over 500 new properties in the last 24 hours within 5 miles of me. Normally between 20 and 50.

Is the withdrawal of HIPS releasing the pent-up supply?

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3 New ones today, i even found the guy putting up the sign................my word what an interesting chat!

He got a shed full more to do.

Has NEVER seen so much stock on the market

Has been told by a number of Ea's that a flood is coming

Been told BTL is getting cleared out & becoming For Sale

Has switched 6 "To Let" to "For sale" signs on Monday/Tusday.

Mike

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Over 500 new properties in the last 24 hours within 5 miles of me

You got me all excited there mate - Just done the same search for me, 5 miles, last 24 hours. 8 houses. Booo.....

Having said that, I do live in a small town up't'naaarth.

Edited by The Bull Trap

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Hips = few sellers.

Announcement to withdraw HIPS = even fewer sellers (well that was the party line).

Hips suspended = BOOM!

Where's ya money gone, where's ya money gone!

Where's ya money gone, where's ya money gone!

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Wasn't the hips rules only changed today? Supply has been increasing over the last three months, but things do seem to have accelerated over the last few weeks. All good for the HPC cause. :)

Yes. I am talking about today. :blink:

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Over 500 new properties in the last 24 hours within 5 miles of me. Normally between 20 and 50.

Blimey! 772 within 5 miles of me.

I don't have a comparative figure for usual rates, however...

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I have noticed pages and pages of new properties coming onto the market each day, in several areas I am looking at, over the last few weeks.

There are also many price reductions and sales falling through, with only the odd one coming up as sold.

One of my neighbours had to wait 2 weeks for her "For Sale" board to arrive, because the agent had so many go up for sale, he ran out of boards. :lol:

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Last couple of weeks I've noticed a massive increase in the number of price drops (East Midlands). These are in the region of tens of thousands of pounds. Today there was a drop from £345k to £225k.

I have put these down to the impending capital gains tax increase and the focussing of minds....

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3 New ones today, i even found the guy putting up the sign................my word what an interesting chat!

He got a shed full more to do.

Has NEVER seen so much stock on the market

Has been told by a number of Ea's that a flood is coming

Been told BTL is getting cleared out & becoming For Sale

Has switched 6 "To Let" to "For sale" signs on Monday/Tusday.

Mike

:)

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Over 500 new properties in the last 24 hours within 5 miles of me. Normally between 20 and 50.

Is the withdrawal of HIPS releasing the pent-up supply?

It takes time to get the EA round and the photos taken, brochures approved, etc. And you'll still need an EPC. A week or so at least. Just coincidence.

However, if the removal if HIPs does release a lot of 'kite-flyers' next week, there could be a hell of a lot of unsold stock on the market by the end of the month.

Excuse no1 from EAs in June: It's the World Cup innit, no-one's looking. :blink:

Edited by deflation

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Flats are coming down hard. You couldn't get a 1 bed flat for less than 90K 2 years ago, now you can from £65K. (South East)

And it's going to go down a lot more, we haven't seen anything yet.

Edited by Money Spinner

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Guest KingCharles1st

Maybe people have realised that without Labia in power- things are going to be very, shall we say, different.....

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A van came down our road to put up a 'to let' sign. What surprised me was that the van belonged to a firm that specialises in putting up property signs. That's new to me, I thought the EAs usually did that themselves.

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Seems to be a new 'stock surge!' thread almost everyday lately.

As I've said on the other threads. Chelmsford Essex has seen an increase of nearly 15% since march. Making a new high just about everyday not long and it will push through 1000+ and I'll have to change my measuring criteria!

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I should add that rightmoves asking price figures should take a big jump skywards next months as a million kite fliers add their properties at 2007+10% prices now there is no up-front HIPS cost.

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A van came down our road to put up a 'to let' sign. What surprised me was that the van belonged to a firm that specialises in putting up property signs. That's new to me, I thought the EAs usually did that themselves.

I always wondered if they pay outsiders to put their signs up. Some of the ones in window frames need special frames built so I always thought it was bit beyond an estate agents abilities.

All these anecdotals give me a warm fuzzy feeling :)

Edited by Pent Up FTBer

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Last couple of weeks I've noticed a massive increase in the number of price drops (East Midlands). These are in the region of tens of thousands of pounds. Today there was a drop from £345k to £225k.

I have put these down to the impending capital gains tax increase and the focussing of minds....

You have a choice, undercut the market now and take a 10-15% hit, or wait till next year (hoping prices don't slide in the intervening period) and take a 22% hit. Rock and a hard place, I know what I'd rather do if I was sitting on a big profit. This is going to be carnage, a joy to behold. The combination of HIPS suspension, releasing thousands of people who want to try the market, and an equally high number desperate to offload their over-leveraged portfolios, the glowering clouds regathering on the economic horizon, hundreds of thousands of public sector redundancies and we are looking the pefect HPC storm.

Make a cup of tea and put your feet up boys (and girls), it is happening, and this time there won't be any bailouts to prop up the market, the race to the bottom is under way, we have gone over the bulltrap rump and are beginning the terrifying, yet exhilirating ride down the other side.

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Just do a search for the last 14 days, then for 24h, and compare both.

I think Brighton is skewed by mishon welton relisting their entire inventory the other day.

However - another BIG day in Brighton and Hove with 93 properties in the 24 hour added slot. Its been averaging 50-60 for a while now but now really starting to motor.

And about time - every day for the last month i've walked past an estate agent with the same 2 bed room flat as their 'bargain of the week' at £289k - only 12x the average wage in Brighton. I can't wait until reality properly hits here and people realise that it's a run down seaside town full of Stag parties and dossers - and not actually Hampstead-by-the-Sea after all.

The flat i'm just moving out of (another bargain 2 bedder) and have been renting for £1k pm has been on the market a month and already the price has been dropped from £300k to a more reasonable £290k.. still more than what the Landlord bought it for in 2006 but then he has been haemorrhaging money on the difference between my rent and his mortgage so he probably figures that he's earned it.

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  • 259 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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