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"no Ongoing Chain" Survey

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This should be a simple survey that anyone can do with 5 minutes to spare, and will give an indication, albeit unscientific, of how your local area is responding to the housing market.

Most people recieve the property pages, when you do, look for one of the larger estate agents who do a broad spectrum of property sales including flats. Romans is a good one. Then count up the number of properties being sold with "No Ongoing Chain" If the EA bullet points the key features, this is easier still. (ignore auctions and commercial properties) Then count up the total number of property sales and make a quick calculation to work out the percentage.

For example in Reading I calculated 39 out of 81 were "No Ongoing Chain" (NOC)

So on a calculator divide 39 by 81 which gives 48% for the Reading area.

I have done this over the last 3 weeks and the percentages have gone from about 25% to 31% to 48% today.

I know not all properties sold this way are BTL, but a good proportion will be. And just to confirm suspecions 11 out of 16 flats were NOC's.

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Noticed similar myself. B)

See...

http://www.housepricecrash.co.uk/forum/ind...showtopic=14679

http://www.housepricecrash.co.uk/forum/ind...?showtopic=7413

Wrexham update : 29/08/2005.

Guardian : House Prices Fall For 14th Month In A Row.

http://www.guardian.co.uk/business/story/0...1558291,00.html

BBC News : House Prices Down Again In August.

http://news.bbc.co.uk/1/hi/business/4193008.stm

Wrexham Leader : Housing Sales On The Up After Summer Lull - Ideal Time For First Time Buyers.

So once more Wrexham is faring better than most ?

Leader Homes - 32 Packed Pages Of Local Homes.

Front page has a " message " from Joe Wiggins, proprietor of Bairstow Eves estate agents on Chester Street in Wrexham.

" Following the recent cut in interest rates, now is an ideal time to get started in the housing market. Agents in the town are beginning to see an upturn in business during the traditionally quieter summer months.

Confidence is getting higher, but people can't be too overconfident. The market has been turning a little for the better in recent months following the lull between June of last year and March of this, meaning that we as an agent are more optimistic.

Interest rates are lower now than they have been for a long time so it is a great time to buy. "

Mr Wiggins felt that one problem that currently remained in the market despite the recent fall in interest rates was the lack of realism for house prices.

" That needs to be instilled into the market at the moment. There have been a lot of withdrawals because of people putting their properties on at daft prices, finding that it won't sell and then moving from one estate agent to another.

My advice to everyone selling their house is to seriously consider their motives for selling, and the reasons they want to move to another house so its a case of balancing them out. "

Reports have also recently suggested that there could be a crash in housing prices on the horizon, Mr Wiggins said: " Prices have peaked, and now they will slide, the question is how far down will they go and how quickly ? How much you believe there will be a crash depends on where you read and what you watch. "

Let's have a look at the property ads !

Pages 2 & 3 - Nichola Jane.

91 properties, 23 new, 23 no chain, 1 reduced, 1 offers invited.

Pages 6 & 7 - Molyneux.

58 properties, 15 new, 8 no chain, 2 reduced, 1 stamp duty paid.

Page 8 - Bairstow Eves Countrywide.

41 properties, 15 new, 5 no chain, 2 reduced, 1 massive reduction for quick completion, 2 priced for quick sale.

Pages 10 & 11 - Humphreys.

60 properties, 23 new, 6 no chain, 2 offers invited, 2 guide price.

Page 12 - Seth Hughes & Son.

14 properties.

Pages 14 & 15 - Bowen Son and Watson.

47 properties, 15 new, 6 no chain, 7 reduced, 7 offers invited.

Pages 16 & 17 - Cavendish Ikin with Kent Jones.

59 properties, 7 new, 10 no chain, 1 reduced, 1 further reduced, 1 drastically reduced, 3 stamp duty paid, 2 priced to sell, 3 offers invited.

Page 21 - Whitegates.

30 properties, 6 new, 8 no chain, 2 offers invited.

Pages 22 & 23 - Town & Country.

70 properties, 21 new, 14 no chain, 1 reduced for quick sale, 2 priced for quick sale, 2 stamp duty paid ( 1 + £2000 cashback ), 1 o.n.o.

Pages 24, 25 & 26 - Wingetts.

83 properties, 17 new, 21 no chain, 2 reduced, 2 offers considered, 1 offers invited, 2 stamp duty paid, 1 structural settlement under investigation ( ! ).

Pages 30 & 31 - Jones Peckover.

40 properties, 3 new, 1 no chain, 2 reduced, 1 reduced for early sale, 1 guide price, 7 offers invited.

Page 32 - Thomas C. Adams.

36 properties, 3 new, 5 no chain, 5 reduced, 1 reduced for early completion.

So - total number of properties marketed - 629.

Total no chain - 107.

Total reduced - 32 - not including priced to sell, vendor incentives or offers invited.

Doesn't look to bad ostensibly but...

A surprisingly high number of sellers - no chain ? :unsure:

Will try to update as and when time allows.

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Noticed similar myself. B)

See...

Not surprised the subject has been on previous posts. NOC's also seem to be a better indication than price at this stage, as I think prices will be high for at least a year until the volumne of house supply meet critical level and panic selling will start and prices will see a dramatic downturn, or to put it another way a house price crash.

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  • 301 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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