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After The Spring Volume Surge Is Another Wave Hitting Now?

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As per the title of the thread after the spring volume surge is another wave hitting now? In my area a lot of new property came on the market early in the year, more were coming on the market each week than came on in a whole quarter during 09.

There was a lull in the number of properties coming on during May and June and after the emergency budget there was a surge in the number of properties sold at the lower end of the market, reducing the stock levels.However the last week has seen another surge in properties coming on the market. Looks like the next wave of sellers trying to sell by the Autumn and before the winter lull and job cuts.

Has anyone else noticed an early summer lull followed by a recent pick up?

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Guest Steve Cook

As per the title of the thread after the spring volume surge is another wave hitting now? In my area a lot of new property came on the market early in the year, more were coming on the market each week than came on in a whole quarter during 09.

There was a lull in the number of properties coming on during May and June and after the emergency budget there was a surge in the number of properties sold at the lower end of the market, reducing the stock levels.However the last week has seen another surge in properties coming on the market. Looks like the next wave of sellers trying to sell by the Autumn and before the winter lull and job cuts.

Has anyone else noticed an early summer lull followed by a recent pick up?

Significant pickup in volume

Slight drop in asking prices

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Significant pickup in volume

Slight drop in asking prices

Even last year during the scarce volume there were regular price drops across all properties (SW Devon), I am so glad I have not had to endure the brainless double top formed in some of the countries hotspots.

This price drops have continued this year, the types of property I am interested in all are on the market 6 months plus and even some have been on since the crisis began.

e.g this one which is a major reservation job (admittedly not totally representative of the local market.

26 April 2010

* Price changed: from 'Guide Price £650,000' to 'Guide Price £575,000'

21 May 2009

* Price changed: from 'Guide Price £750,000' to 'Guide Price £650,000' [Found by n/a]

11 April 2009

* Price changed: from 'Guide Price £795,000' to 'Guide Price £750,000' [Found by n/a]

23 October 2008

* Initial entry found. [Found by n/a]

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talking to friend who bought in clapham tother day.he was saiyng when they bought there were about 5 houses of the size they wanted for sael and 10-20 buyers.he says now there's 65 + for sale.

would be itnerested if any london based members could confirm/deny thasoe stats.

Don't be silly I have yet to meet a bear on London property.

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My normal search...CO3 4... Plus 1mile, was constant at 10 pages on RM including Under offer, now 16 pages for sale and 27 pages including under offer..

Lots of FORSALE/SOLD/FORSALE traffic light signs.

One tiny tiny place near me...developed site from a 2009 sale...never occupied since, up for sale....price gone up £5K....

http://www.rightmove.co.uk/property-for-sale/property-26238268.html

Property Bee doesnt seem to reveal much history these days....this one has been up since February or so.

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Sw18 area (bwandsworth clapham)

totals for sale on rightmove from march 09 - dec 09 Jan 10 total number

for sale on rightmove (not under offer) was between 380 and 430 - mostly

around the 410 mark.

Stock increased jan onwards and was 640 -660 to march then upwards and

now stabilsed at about 870.

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Plenty coming on at the moment, lots at very hopeful prices :rolleyes: , some more realistic and plenty of reductions for those that have been languishing, sales are at a trickle, quite a few May and June SSTC now back on again with price reduction.

Stock numbers have been rising since last Autumn low of 450, to 600 around New Year, to over 730 now (5 mile radius of Diss, Norfolk)

Sentiment is turning, now a buyer's market, prices will tumble once the sun stops shining!

Edited by luigi

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I posted this a couple of weeks ago.

Thought I would post an update today as my original search criteria has now reached 1000+. I started a parallel search with smaller criteria for the same area seven weeks ago to allow me to continue to track stock levels once the original search found too many results.

030710.png

As you can see the emergency budget on June 22nd caused a slow done of new listings although the average for the week never fell below the previous weeks. In the weeks after budget the trend resumed and has accelerated in the last week.

I may start a new search using the combined totals of serveral Essex towns to create a larger data sample and a more accurate measure. Possibly Braintree, Billericay and Brentwood.

After this the increases in stock have picked up further and the line on the graph has steepened even more, a bit of surge actually. I expected things to start slowing after so much came on other the last few months. Could be the recent media pessimism causing a tad of fear? Let's hope so :)

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I'm on the Wiltshire / Somerset border and there seems to be an increase in supply, but prices are very mixed.

Good property (esp. period 3 beds , garden and garage) are snapped up in days (sometines hours apparently) but similar post war estste houses seems to be getting a bit cheaper.

There seems to be a way to go yet but the movement seems to be in the right direction, albeit v slow.

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I'm on the Wiltshire / Somerset border and there seems to be an increase in supply, but prices are very mixed.

Good property (esp. period 3 beds , garden and garage) are snapped up in days (sometines hours apparently) but similar post war estste houses seems to be getting a bit cheaper.

There seems to be a way to go yet but the movement seems to be in the right direction, albeit v slow.

It's HIPS as simple as that.It was an artificial restriction on the market and now it has gone things will return to normal.

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I posted this a couple of weeks ago.

After this the increases in stock have picked up further and the line on the graph has steepened even more, a bit of surge actually. I expected things to start slowing after so much came on other the last few months. Could be the recent media pessimism causing a tad of fear? Let's hope so :)

I remember your post and was a bit worried that after the spring surge local to me things had gone quiet and not representative of what you were seeing, however the last few weeks has seen a surge in new instructions and was the reason for me posting.

Certainly seems the country as a whole is seeing a new surge given the pole, this could not be following the typical asset price bubble more clearly, such a shame the homes we live in have been assigned the status as an asset above a home.

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seriously houses are disappearing off the market near me..after three years of trying to sell.....some have reduced say 20 to 40 k in the 220k bracket but no takers..

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It's HIPS as simple as that.It was an artificial restriction on the market and now it has gone things will return to normal.

The timing of it's introduction was very lucky for the previous government, which along with a number of caring policies to keep 'hard working families in their homes caused a nice bounce into the elections due to supply shortages.

With the bounce came the Labour poll bounce and the hung parliament, but hey these politician are an incompetent bunch ;)

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seriously houses are disappearing off the market near me..after three years of trying to sell.....some have reduced say 20 to 40 k in the 220k bracket but no takers..

I've seen quite a few getting removed from sale as the vendors give up to wait for higher prices. But I think this is being more than matched by people who have waited three years for prices to return to peak and releasing it's never going to happen and that they should take advantage of the recent rally.

It's the pent up supply coming out :)

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We were talking to an EA a couple of weeks ago regarding why similar houses had very different prices and he admitted that some (the apparently overpriced) are priced high to cover the vendors mortgage.

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We were talking to an EA a couple of weeks ago regarding why similar houses had very different prices and he admitted that some (the apparently overpriced) are priced high to cover the vendors mortgage.

Did you not know that if you have overspent on a house or withdrawn equity and prices fall below your mortgage you just set the price you need to come out clean and some mug will be pressurised to buy it by their family, colleagues at work or the media.

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Did you not know that if you have overspent on a house or withdrawn equity and prices fall below your mortgage you just set the price you need to come out clean and some mug will be pressurised to buy it by their family, colleagues at work or the media.

laugh.gif Seriously I pity the people who bought into that.

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Did you not know that if you have overspent on a house or withdrawn equity and prices fall below your mortgage you just set the price you need to come out clean and some mug will be pressurised to buy it by their family, colleagues at work or the media.

So true. Not only do you pay for the house, you also pay for their car, caravan, motorcycle, 50" plasma and all the holidays they have had for the past ten years.

Bargain! ;)

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Did you not know that if you have overspent on a house or withdrawn equity and prices fall below your mortgage you just set the price you need to come out clean and some mug will be pressurised to buy it by their family, colleagues at work or the media.

I guess if I was in their shoes, I'd try it on as well

Whats worrying is some of them seem to sell.

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I guess if I was in their shoes, I'd try it on as well

Whats worrying is some of them seem to sell.

I side with you, it is not the vendors that are at fault, they only set the asking price, it is up to the purchasers to pony up the money.

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Bristol bottom end of the market ( sub 110 k ) this picked up in January and remains constant, no new surge but plenty of stock.

Plenty of daft asking prices, but good discounts available if you look.

This increase in stock makes it look like Bristol is slowly turning a corner. If you are a numpty you will probably pay too much, if you are canny you must be able to find a discount relative to the fantasy market.

Stoke on Trent ( sub 110k ) worth a peek just to check whats occurring...properties pouring on to a saturated market. Bargains available. 3x wages ....have a semi.

Hemel Hempstead ( sub 110 k ) sudden surge since budget, though only 41 sh1t flats available, a lot of these have been available for a long time, sales occurring but close to fizziling out. What makes me laugh is the shared ownership flats 180,000 for a 2 bed flat. Thats a lifetime of perdition if your wages dont rise.

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seriously houses are disappearing off the market near me..after three years of trying to sell.....some have reduced say 20 to 40 k in the 220k bracket but no takers..

Same here, sadly. There is just feck all in Dagenham at the moment; during the pseudo-crash of '08 there were pages upon pages of houses under the £150k mark. Just checked on RM; that number is 5 (properties, that is, not pages). Since the false-dawn in '09 most of the stock disappeared with very very little replacing it. I just can't understand it; god knows what the average wage (if at all...) round here is but there's a massive dichotomy between house-prices and the wages of what is a working class area.

Just for a laugh, I searched for all houses £150k> the result was 533...

B*llocks to yers; i'm not playing that game.

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  • 140 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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