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DownsizingDiva

Huge Surge In Supply

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I've been monitoring an area within a 3 mile radius of where I am renting for last year (via propertybee) , and have seen a slow but steady increase in number of houses for sale over that time.

However, today has seen a MASSIVE SURGE of new properties coming onto the market. Has anyone else experienced this?

Sorry if this should be on anecdotals...

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I've been monitoring an area within a 3 mile radius of where I am renting for last year (via propertybee) , and have seen a slow but steady increase in number of houses for sale over that time.

However, today has seen a MASSIVE SURGE of new properties coming onto the market. Has anyone else experienced this?

Sorry if this should be on anecdotals...

Could be an agent who has relisted his entire stock because it was looking stale and office not particularly busy...... beats twiddling thumbs and playing solitaire.........perhaps :lol:

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Seen a general increase since march, although seeing evidence of a drop in stock levels for the two weeks.

See my charts in the south east forum. Updated a few weeks ago.

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Yes, including the house I am currently renting :)

Same here :huh: And there are a lot of other properties for rent and for sale at the same time - with both on Rightmove. We pointed that out to one estate agent who had promised us we could rent a property we were viewing for up to ten years if we wanted it. His flustered reaction was little short of hilarious. :lol:

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Could be an agent who has relisted his entire stock because it was looking stale and office not particularly busy...... beats twiddling thumbs and playing solitaire.........perhaps :lol:

No, the new properties are with various agents.

There has also been a marked increase in reductions today.

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I've been monitoring an area within a 3 mile radius of where I am renting for last year (via propertybee) , and have seen a slow but steady increase in number of houses for sale over that time.

However, today has seen a MASSIVE SURGE of new properties coming onto the market. Has anyone else experienced this?

Sorry if this should be on anecdotals...

I'm not seeing this in my area (Colchester, Essex) - the number of new properties and reductions have dropped a little in the last 2 weeks. Hope it's just a blip :unsure:

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Noticeable drop in houses coming on the market in Swansea this week.

Some price drops but, well, September has come and gone and not all have sold their houses so I assume they must be in shock.

One EA has told me they are trying to talk down the asking prices but because several other EA chains are, allegedly, talking up asking prices they said they were having difficulty getting sellers to listen.

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Noticeable drop in houses coming on the market in Swansea this week.

Some price drops but, well, September has come and gone and not all have sold their houses so I assume they must be in shock.

One EA has told me they are trying to talk down the asking prices but because several other EA chains are, allegedly, talking up asking prices they said they were having difficulty getting sellers to listen.

There are 2 types of sellers - those who don't HAVE to listen (those who don't NEED to sell) and those who do NEED to listen (those who HAVE to sell). The only properties really "on the market" are those where sellers need to sell. These are the ones which will determine prices right now.

Edited by DownsizingDiva

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That's bad news? another rental on the cards then?

Technically, no. He wants £1.25m for it which is so far beyond ludicrous there is absolutely no chance of him selling. After a fairly vigorous discussion where he refused to reduce the rent in exchange for allowing viewings and suggested he would give us notice if we declined to allow them, we viewed 4 new properties today, second viewed one, offered, haggled, and accepted. Problem fixed in 2 days :)

The joy of renting - no need to put up with nonesense from landlords.

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I'm not seeing this in my area (Colchester, Essex) - the number of new properties and reductions have dropped a little in the last 2 weeks. Hope it's just a blip :unsure:

Seen a general increase since march, although seeing evidence of a drop in stock levels for the two weeks.

See my charts in the south east forum. Updated a few weeks ago.

My area is Chelmsfor Essex (and some local towns) so not too far from you.

Heres my post from the regional board. The Essex chart has 'eased' slightly and the local charts vary with most dropping off in the last two weeks

I've been recording the numbers of properties on the market in Chelmsford since early March. In early July I added several other Essex towns to increase the data sample and give an overall gauge for Essex. Figures are an avergage number for the week.

Here's the Essex chart which is all properties over all the towns added up:

67454025.png

And the breakdown of the five individual towns:

99389915.png

(+5 miles)

59617497.png

47303698.png

30313247.png

61123676.png

(+1 mile)

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Thanks for the top information Pent Up. Where do you get those stats?

Anyway, Bournemouth.

From about 3 months ago, a slow but steady rise.

Stalled for a couple of weeks about a month ago, and back on in the last fortnight.

Overall, roughly a 23% increase and rising steadily.

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Thanks for the top information Pent Up. Where do you get those stats?

Anyway, Bournemouth.

From about 3 months ago, a slow but steady rise.

Stalled for a couple of weeks about a month ago, and back on in the last fortnight.

Overall, roughly a 23% increase and rising steadily.

Putting the results of daily rightmove searches into a spreadsheet.

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Seen a general increase since march, although seeing evidence of a drop in stock levels for the two weeks.

See my charts in the south east forum. Updated a few weeks ago.

It’s the other end of Britain from you, but I’ve seen exactly the same here in south Edinburgh: a massive increase in supply from the record lows at the end of last year, but a slight drop-off over the last couple of weeks. Around 2007–08 my regular search generally returned around 120 properties. At the end of 2009 this fell to under 50. During the course of 2010 it gradually rose almost to 200, but is now down to around 185.

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I've been tracking the same sort of data by a search on rightmove using propertybee to keep track and see what I'd think is an unusual rise in the number available for sale in my criteria (2 beds or more, £70-170k) as we head into what is supposed to be a quiet time. Maybe it's always like this, like you I've only been keeping tabs for almost a year and is just a result of no buyers or there is realy a surch in properties up for sale just now.

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My area is Chelmsfor Essex (and some local towns) so not too far from you.

Heres my post from the regional board. The Essex chart has 'eased' slightly and the local charts vary with most dropping off in the last two weeks

Very comprehensive - nice. :) My technique is simply to search for the number of new and reduced propertied within a 5 mile radius of Colchester nearly every day, so I'm basing my view of a slight drop off in my area in the last 2 weeks on that

Like I said, hope it's just a blip.

On the other hand, September clearly wasn't the active month some bulls argued it would be in August - that must be a good sign. Maybe activity will pick up in October, but by then we just may have some snow again! :)

.

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just reading the rest of the thread does anyone elses data look like this and is it rightmove taking the p!ss?

turn it upside down and it looks like a bull trap...

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I am also from Essex. But the general trend is pricing are going to increase day by day.

That is not specific to this area but general trend all over the world.

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I am also from Essex. But the general trend is pricing are going to increase day by day.

That is not specific to this area but general trend all over the world.

LOL! Couple of sarnies missing?

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  • 244 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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