Jump to content
House Price Crash Forum

Huge Explosion Of New Properties On Rightmove


Recommended Posts

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.

A while ago I spoke to a guy putting up a "For sale" sign, and he told me the local agents do not put up their own signs. He said he put up signs for various different agents. I guess it works out cheaper for the agents, if they don't need to have a van, or a place to store the signs.

Link to comment
Share on other sites

  • Replies 70
  • Created
  • Last Reply

Top Posters In This Topic

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's nout to do with HIPS. It started a couple of months ago noticeably and has not stopped since. In my area its 379 in last 7 days for 5 miles and 999 for 10 miles from me. 7 days is a better indicator!

Link to comment
Share on other sites

Surely 20% ;) and the Excess can continue its 'house prices are rocketting' stories propaganda. And the sad thing is the kite fliers will really believe they are being realistic. I will guarantee that next month the BBC announce that house prices have staged a remarkable recovery with prices rising by say 3% in the last month.

Also anecdotal, but I have been called by 4 different agents this week, the one today more or less begging me to go and see new stock she has. One rang me up to tell me that a house that has been on the market for a week is willing to be 'very flexible on price, as are most people in the current market' (not a clever thing to tell a potential buyer I would have thought!)

Supply exceeding demand by 48% since late January now where I am looking - (48% more houses available on Rightmove).

I would think the fact that the Express has run a story almost every other day - and on the front page earlier this week - about sky rocketing prices and how confidence is now booming should be sounding a few alarm bells amongst their readers. They are beginning to sound a tad desperate.

Edited by Analysis
Link to comment
Share on other sites

Also anecdotal, but I have been called by 4 different agents this week, the one today more or less begging me to go and see new stock she has. One rang me up to tell me that a house that has been on the market for a week is willing to be 'very flexible on price, as are most people in the current market' (not a clever thing to tell a potential buyer I would have thought!)

...unless it's true. As many people seem to forget, estate agents only get paid when the property sells. If buyers are flexible, it's absolutely best to convey that message to potential buyers to get a higher chance of completing the sale and earning that commission!

It is starting to feel a bit like 2008 again!

Link to comment
Share on other sites

Perhaps some of you should read a newspaper rather than just speculate on how the way the housing market works ?

Some of the theories above are indicative of how out of touch some people actually are on this site. Read more, instead of just hoping to be able to afford a house because you deserve it.

The Capital Gains Tax on second homes is being increased to 40% as announced by the new government.

BTL holders will be selling in droves. It's a major story in those old-fashioned things called Newspapers.

Link to comment
Share on other sites

Perhaps some of you should read a newspaper rather than just speculate on how the way the housing market works ?

Some of the theories above are indicative of how out of touch some people actually are on this site. Read more, instead of just hoping to be able to afford a house because you deserve it.

The Capital Gains Tax on second homes is being increased to 40% as announced by the new government.

BTL holders will be selling in droves. It's a major story in those old-fashioned things called Newspapers.

The rises in stock has been consistant since January. Yes CGT will impact but the jump in levels has not suddenly happened in the last few weeks. Perhaps you should also watch the market via the magical Property Bee like many here, as well as the press in order to illuminate yourself a bit more.

I find a bit of Halligan plus some good old research of the regional market ever so handy.

Link to comment
Share on other sites

Perhaps some of you should read a newspaper rather than just speculate on how the way the housing market works ?

Some of the theories above are indicative of how out of touch some people actually are on this site. Read more, instead of just hoping to be able to afford a house because you deserve it.

The Capital Gains Tax on second homes is being increased to 40% as announced by the new government.

BTL holders will be selling in droves. It's a major story in those old-fashioned things called Newspapers.

http://images.dpchallenge.com/images_portfolio/25000-29999/28742/800/Copyrighted_Image_Reuse_Prohibited_625496.jpg

?

Link to comment
Share on other sites

The rises in stock has been consistant since January. Yes CGT will impact but the jump in levels has not suddenly happened in the last few weeks. Perhaps you should also watch the market via the magical Property Bee like many here, as well as the press in order to illuminate yourself a bit more.

I find a bit of Halligan plus some good old research of the regional market ever so handy.

From the original post....

"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? "

In the last 24 hours.... why would that be ?

I am responding to the original post, not some conflated argument that I already know. Perhaps you should refer your investigations to the original poster ?

Edited by TheUsualSuspect
Link to comment
Share on other sites

From the original post....

"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? "

In the last 24 hours.... why would that be ?

I am responding to the original post, not some conflated argument that I already know. Perhaps you should refer your investigations to the original poster ?

"Perhaps some of you should read a newspaper rather than just speculate on how the way the housing market works ?"

"Some of the theories above are indicative of how out of touch some people actually are on this site."

Perhaps not.

Link to comment
Share on other sites

A comparison of the last 10 weeks of available properties on Rightmove in selected Bristol postcodes:

  DAY   DATE   BS1   BS3   BS4   BS6   BS7   BS8   BS9       Total===================================================================  Wed 100310    96   180   260   162   195   202   165        1260  Wed 170310    89   178   271   167   199   208   157        1269  Wed 240310    98   187   268   180   217   218   157        1325  Wed 310310   102   209   278   184   228   229   156        1386  Wed 070410   105   215   280   181   227   226   157        1391  Wed 140410   106   225   285   183   242   246   159        1446  Wed 210410    97   228   289   193   257   241   153        1458  Wed 280410    98   228   294   199   247   243   155        1464  Wed 050510   105   235   296   213   252   248   158        1507  Wed 120510   111   240   306   213   267   259   164        1560  Wed 190510   113   240   301   217   273   268   177        1589% increase      17%   33%   15%   33%   40%   32%    7%         26%

BS6, BS7 and BS8 are the most desirable areas and have the largest increase in stock

Link to comment
Share on other sites

Guest The Relaxation Suite

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.

It will be carnage, I think. I am confident of that. A simple three bedroom mid-terrace that cost £80,000 in 2000, £220,000 in 2007, £160,000 now, should cost more like £120,000 by the end of 2011.

Fingers crossed for everyone who has patiently waited and even put starting a family on hold as so many have done.

Link to comment
Share on other sites

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.

+1 but this storm is currently missing the higher interest rates ingredient which would up the 'spice' factor.

Maybe it will be added after the midst of the storm.

Edited by Kazuya
Link to comment
Share on other sites

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.

Echo that in Bournemouth.

I had thought that locally we might have a particular situation with overbuild / supply here, but from what you say it's general.

At the moment, your £65k would get you a studio looking rather like a cell for one of the privileged prisoners. Still way too much.

Link to comment
Share on other sites

It will be carnage, I think. I am confident of that. A simple three bedroom mid-terrace that cost £80,000 in 2000, £220,000 in 2007, £160,000 now, should cost more like £120,000 by the end of 2011.

Fingers crossed for everyone who has patiently waited and even put starting a family on hold as so many have done.

I really hope so.

Got a letter from my letting agent demanding an increase in my rent. I would not mind so much but they have been more than useless and I still have a hole in my kitchen ceiling due to a leaking roof that has been that way for about three months now.

I really hope you are right, these greedy t*ssers need put back where they belong (repossesed and bankrupted with any luck and forced to rent from equally questionable agents/LL's)

Link to comment
Share on other sites

we haven't seen anything yet.

We certainly haven't seen a bloody thing yet - where I live.

Have I got to move up North to get a house at a decent price? I have often thought about this ... but, given that Northerners seem to hate Southerners, I always find myself thinking ... 300 miles North or 300 miles South to the Vendee?

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
 Share

  • Recently Browsing   0 members

    No registered users viewing this page.





×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.