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The Masked Tulip

Houses Coming Off The Market For Winter

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Anyone seeing this yet? September has come and gone so I wonder if we will now see some houses come off the market or will they hold on till the bitter end.

Count me in. My house is coming off the market tomorrow (been on since mid August) and being placed with a rental agency. Decided bricks and mortar and a steady rental income safer than a large lump of funny money. It's me pension innit! :D

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Anyone seeing this yet? September has come and gone so I wonder if we will now see some houses come off the market or will they hold on till the bitter end.

seeing more coming on in the south east believe it or not.

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Anyone seeing this yet? September has come and gone so I wonder if we will now see some houses come off the market or will they hold on till the bitter end.

Depends on if they really need to sell.

My fear has always been that there aren't enough forced-sellers coming to the market and what we've seen are post-HIPs vendors 'having a go' at silly prices, before withdrawing from the market; that's certainly the story here in N2 where there are now fewer properties in the 3 bed market than at any time since I started tracking them 3 years ago.

Frustrating.

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I was reading that its a good time to buy so you can be in a new house for Christmas. Lovely.

Yes, lovely. Pity you wouldn't have any money left to buy prezzies with, though... <_<

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seeing more coming on in the south east believe it or not.

+1. There are nearly 80% more houses on the market now (not SSTC) than in January 2010 (my measurements from Rightmove). Quick look at Rightmove today showed a couple of decent drops:

4 bed detached started at £600k now £500k

4 bed detached started at £550k now £450k

6 bed detached + land started at £1.3M now £1M

Can't see any sign of numbers available decreasing at the moment.

Edited by Analysis

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+1. There are nearly 80% more houses on the market now (not SSTC) than in January 2010 (my measurements from Rightmove). Quick look at Rightmove today showed a couple of decent drops:

4 bed detached started at £600k now £500k

4 bed detached started at £550k now £450k

6 bed detached + land started at £1.3M now £1M

Can't see any sign of numbers available decreasing at the moment.

the more the merrier

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Not seeing much come off the market.

In fact not much movement for the past two months. No movement downward in prices, just static prices and not selling (south oxfordshire).

I have seen a staedy increase in properties coming up for sale and no real decline in that, but a levelling off maybe. Prices are being cut andmuch lower offers being accepted on the quiet, from my local knowledge. Sussex area.

I have also noticed a recent upsurge in unlikely rental properties coming on for rent. They can't sell 'em and if they cannot or won't drop the price they are stuck. Several builders renovations coming on and off rental and sale over the last year. Dropped the price £40k but still not sold on one near me. Another large one now up for an unrealistic rent of £2400pm. Not many people can/want to pay that.

House in my road fallen through 3 times in 9 months on sale.

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I was reading that its a good time to buy so you can be in a new house for Christmas.  Lovely.

Personally I'm waiting for the Spring bounce.

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Anyone seeing this yet? September has come and gone so I wonder if we will now see some houses come off the market or will they hold on till the bitter end.

Nah, I would expect them to be left on the market for the 'traditionally busy months of November and December in the property market' - or so I am sure some estate agent will tell us soon :)

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Nah, I would expect them to be left on the market for the 'traditionally busy months of November and December in the property market' - or so I am sure some estate agent will tell us soon :)

I am waiting and wondering, now that the buoyant month of Sept is gone :rolleyes: , whether we will see a flood of reduced asking prices in the coming fortnight.

The problem then of course if a vendor takes X off the asking price they are going to be reluctant to accept less than 1005 of their new asking price I guess.

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Nyet. Not near me anyway, North Notts. Infact, there are a few "SOLD" signs popping up here and there. Still a few houses appearing on the market - My search (Within 5 miles of my town, added in the last 24 hours) is showing approx. 6 per day, down from 18 per day when HIPS went and everyone decided to test the water.

On a side note, my current house (currently rented, worth approx £130k going by the estate agent valuations of a couple of identical houses nearby) was sold to the owners in 2006 as a new build for £169k!!! Jeepers...

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Anyone seeing this yet? September has come and gone so I wonder if we will now see some houses come off the market or will they hold on till the bitter end.

Some people MUST sell:

1. Unemployment

2. Death or illness

3. Job move

4. Divorce or other change in family circumstances (more children for example).

5. Drop in income

6. Fear of loss (STR)

7. Desire to emigrate

8. Rise in mortage cost or other overheads associated with current property

We all know unemployment is rising and more part time jobs are the new paradigm making existing mortgages for many untenable.

Putting off the inevtitable to after Crimbo when prices will be even lower is probably not going to happen.

Edited by Realistbear

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Some people MUST sell:

1. Unemployment

2. Death or illness

3. Job move

4. Divorce or other change in family circumstances (more children for example).

5. Drop in income

6. Fear of loss (STR)

7. Desire to emigrate

8. Rise in mortage cost or other overheads associated with current property

We all know unemployment is rising and more part time jobs are the new paradigm making existing mortgages for many untenable.

Putting off the inevtitable to after Crimbo when prices will be even lower is probably not going to happen.

And, out of your list of 8 reasons why people must sell, given that most people look for a house within a narrow geographical area (I'm looking in one, small town at the moment - won't consider anywhere else for logistical reasons - schools / work etc.) - maybe, if they're lucky, there are one or two forced sellers in their area.

What are the chances that one of those forced sales is the house they are looking for?

What's your evidence for your statement 'more part time jobs are the new paradigm making existing mortgages for many untenable'? Surely that's the whole point - the actions taken by Brown to stabilise the housing market worked and many existing mortgage holders are currently paying down their mortgages because their mortgage has gone down - a LOT! Again, it's the same argument. How many people in the area you are looking at are now working part time with 'untenable mortages'? One in a million?

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And, out of your list of 8 reasons why people must sell, given that most people look for a house within a narrow geographical area (I'm looking in one, small town at the moment - won't consider anywhere else for logistical reasons - schools / work etc.) - maybe, if they're lucky, there are one or two forced sellers in their area.

What are the chances that one of those forced sales is the house they are looking for?

What's your evidence for your statement 'more part time jobs are the new paradigm making existing mortgages for many untenable'? Surely that's the whole point - the actions taken by Brown to stabilise the housing market worked and many existing mortgage holders are currently paying down their mortgages because their mortgage has gone down - a LOT! Again, it's the same argument. How many people in the area you are looking at are now working part time with 'untenable mortages'? One in a million?

People on part-time earn less than when they were on full time when times were better.

The banks* have been told to go easy on late pays to avoid repossessions going through the roof. This in return for the government bailing them out. Same has been working in the US but it did not hold back the flood of repossessins long term as you can only delay payments for so long and the mortagor gets used to not paying....and doesnt.

______________________________

* example: http://www.whichwaytopay.com/money-latest-news-article.asp?articleid=730&zoneid=1

Royal Bank of Scotland Delays Repossessions

Good news for those falling behind in their mortgage repayments as RBS have guaranteed to hold of on repossession of properties to customers for at least six months. Last week, the bank sold 58% of its shares to the government in the government’s plan to recapitalise the banking sector. This latest announcement will come as a relief to many who have faced redundancy in the run-up to Christmas, and means that people can arrange for some alternative form of income before being made effectively homeless. Not only that, but the bank benefits too: it would not be in their interest to repossess hundreds of homes which would then be stacked up with no buyers!

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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% +
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      • Even
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