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Seems To Be A Lot Gone Under Offer Today

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Not exaclty an STR'er, as was more a decision to just break the chain and sell, but am now renting and keeping a very close eye on the market. Seems to be so up and down at the moment. Just when I thought that some reasonable reductions were taking place all of a sudden loads of properties go under offer, including a signifcant number today 21st/10.

Has anyone else noticed this in their area? do you think people realsied the cuts weren't so bad afterall and decided to buy lol?

This is an expensive area in the south east, and over the past two weeks or so many of the local agents (who we had not heard a peep out of for ages) were suddenly ringing all the time, even after you would think they would be shut! So we were thinking they were getting deperate, and now loads of properties under offer, including some of the 2007 + 20% places ffs.

btw I really want to be a bear, but dont believe I could that be that lucky to see a crash when i dont own a house!

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dont get me wrong, wasnt about to go and offer asking price or anything lol. Just very disappointed to see lots of properties go under offer when I thought it had finally reached a turning point....

Just have to keep watching to see what happens...

North east hampshire/surrey border btw

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Not exaclty an STR'er, as was more a decision to just break the chain and sell, but am now renting and keeping a very close eye on the market. Seems to be so up and down at the moment. Just when I thought that some reasonable reductions were taking place all of a sudden loads of properties go under offer, including a signifcant number today 21st/10.

Has anyone else noticed this in their area? do you think people realsied the cuts weren't so bad afterall and decided to buy lol?

This is an expensive area in the south east, and over the past two weeks or so many of the local agents (who we had not heard a peep out of for ages) were suddenly ringing all the time, even after you would think they would be shut! So we were thinking they were getting deperate, and now loads of properties under offer, including some of the 2007 + 20% places ffs.

btw I really want to be a bear, but dont believe I could that be that lucky to see a crash when i dont own a house!

Maybe the agents' ringing around was what brought the offers in, maybe the agents were encouraging any kind of offer and the buyers are getting money off the asking prices - to find out for sure, keep an eye out for the sold prices? I've been keeping a spreadsheet of initial asking, final asking and sold prices for my target area for over a year now. Knowledge is power :)

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Maybe the agents' ringing around was what brought the offers in, maybe the agents were encouraging any kind of offer and the buyers are getting money off the asking prices - to find out for sure, keep an eye out for the sold prices? I've been keeping a spreadsheet of initial asking, final asking and sold prices for my target area for over a year now. Knowledge is power :)

The bottom end of the market appears to be collapsing in Swansea - by bottom I mean up to 200K.

500K to 1.2 million is coming down in large chunks.

The middle - 300K to 500K is prooving to be very stubborn. If anything, new houses coming on the market are upping the asking prices by up to 50K - even if they are in the same areas as houses which have been on for months and who are dropping asking price.

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Maybe the agents' ringing around was what brought the offers in, maybe the agents were encouraging any kind of offer and the buyers are getting money off the asking prices

I think this is your answer- vendor capitulation in the face of worsening sentiment and the buyers think they're getting a bargain because they've got 10-20% off, not realising they've just set the price to beat for the next round of reductions.

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Not exaclty an STR'er, as was more a decision to just break the chain and sell, but am now renting and keeping a very close eye on the market. Seems to be so up and down at the moment. Just when I thought that some reasonable reductions were taking place all of a sudden loads of properties go under offer, including a signifcant number today 21st/10.

Has anyone else noticed this in their area? do you think people realsied the cuts weren't so bad afterall and decided to buy lol?

This is an expensive area in the south east, and over the past two weeks or so many of the local agents (who we had not heard a peep out of for ages) were suddenly ringing all the time, even after you would think they would be shut! So we were thinking they were getting deperate, and now loads of properties under offer, including some of the 2007 + 20% places ffs.

btw I really want to be a bear, but dont believe I could that be that lucky to see a crash when i dont own a house!

More or less the same - certinaly the same frustration.

The bottom end of the market appears to be collapsing but the middle is just mad with people refusing to drop askng prices and now, of late, new houses adding 50K to the ludicrous asking prices of those who have been on since the Spring.

It seems that there is complete refusal to drop the askin prices and, occasionally, I see a house sell - no idea how much near the asking price they go for but I suspect it is one of two things:

1. Numpties paying full or near-full asking price. Such people exist in far greater numbers than we realise.

2. Canny buyers putting in low offers and being accepted - really need to see the Land Reg figures for the Summer months.

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I've done the same as you southeast. I've sold my property this summer, and now temporarily renting...but I've now bought elsewhere and I'm in transition - waiting for the keys next week and start decorating before moving in.

Since I've sold my place in north east London, I've seen a whole lot of properties flooding the market in my area.

1 bed flats are hard to shift from what I've noticed, but 2 beds & upwards seem to be selling well.

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I've done the same as you southeast. I've sold my property this summer, and now temporarily renting...but I've now bought elsewhere and I'm in transition - waiting for the keys next week and start decorating before moving in.

Since I've sold my place in north east London, I've seen a whole lot of properties flooding the market in my area.

1 bed flats are hard to shift from what I've noticed, but 2 beds & upwards seem to be selling well.

i think 1 beds used to go better but now everyone seems to be of the mindset that they want an extra room to rent out should they need to.

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i think 1 beds used to go better but now everyone seems to be of the mindset that they want an extra room to rent out should they need to.

I think the other explanation for this is that first time buyers got much older - in their mid thirtys, and by the time they have saved enough money to buy something, they're already married with a child (or expecting to start a family).

I certainly see that most 1 bed flats are now mostly appealing to BTL investors rather than people like me, who bought when they were in their 20's, as a way of putting a foot on the ladder - and most importantly, as a first home, not any sort of money making scheme.

Edited by Frenchie73

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Not exaclty an STR'er, as was more a decision to just break the chain and sell, but am now renting and keeping a very close eye on the market. Seems to be so up and down at the moment. Just when I thought that some reasonable reductions were taking place all of a sudden loads of properties go under offer, including a signifcant number today 21st/10.

Have there also been a lot of reductions recently? I've seen this in the area I'm watching (SW London). That might have triggered the offers.

Recently we went to see a property that had been on the market since the spring, with no reduction at all. EA told us there was no chance that they'd accept an offer, they were holding out for the asking because it was 'worth it' and they were in no hurry to sell

Less than 3 weeks later, same property on with a different agent, down by 10%.

Just one of several in the area, up since April-May, no reduction until recently.

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More or less the same - certinaly the same frustration.

The bottom end of the market appears to be collapsing but the middle is just mad with people refusing to drop askng prices and now, of late, new houses adding 50K to the ludicrous asking prices of those who have been on since the Spring.

It seems that there is complete refusal to drop the askin prices and, occasionally, I see a house sell - no idea how much near the asking price they go for but I suspect it is one of two things:

1. Numpties paying full or near-full asking price. Such people exist in far greater numbers than we realise.

2. Canny buyers putting in low offers and being accepted - really need to see the Land Reg figures for the Summer months.

can only agree with that. Am in the habit of making offers of AP -10% ish and being rejected. The problem is that there is no transparency in the offering process it would be nice if like repos, the EAs would show on rightmove - an offer has been made for the above property of xxx pounds and anyone wishing to make a higher offer has 14 days to do so. It is very galling to see a house overpriced sell for less than you would have offered when you get to look at the LR sold price.

I think the problem with mid range houses is that it is not a forced sale - they have lots of nice equity they do not want to lose and so-and-so down the road sold in 2007 for £x and next door is on the market for £x + 10% (even though it has not sold) so ours must be worth the same.

keep the faith.

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I've got a list saved of 100 properties in the South East mainly in Surrey (on Rightmove). Hardly any of mine (price range 275-400k) are going under offer.

In the new email today most of the properties 3/4 were price reductions

However, one property that I was tempted to view went under offer very quickly. It hasn't sold of course and I've not idea what is happening behind the scenes.

Most be a regional thing but in my own case things are looking very good indeed and better for years in my Surrey collection

Edited by Flopsy

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Mrs Bear:

There have been quite a few reductions, some around 20%, however this falls into two categories.

1. Reductions from 2007 prices plus x%

2. Real reductions from 2007.

I would say that there are some cheap deals to be had in places that I really dont want to live,as in more like 2004 prices, minus a bit. Plus whatever you can get off.....

Was watching a place that was over 200k overpriced, even for 2007, they reduced it 50k, two months later its under offer, been on for nearly a year. So frustrating cos it will be months till I can find out what it went for, assuming is goes through, that the land reg put it on, that they can actually get a mortage etc etc etc.......

Thing is there were loads of reductions in september, then a couple of days when loads went under offer, inclding 21st October, now there isnt that much on the market, and of those there aren't many properties worth considering, even for very low offers.

So in a nut shell mainly reductions from stupid prices, and some minor real reductions.

Plus one great example of 2007 sold 550, fitted a new kitchen, ealry 2009, wait for it.....................650, and thats from the LR! I think people have money to burn round here!

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Mrs Bear:

There have been quite a few reductions, some around 20%, however this falls into two categories.

1. Reductions from 2007 prices plus x%

2. Real reductions from 2007.

I would say that there are some cheap deals to be had in places that I really dont want to live,as in more like 2004 prices, minus a bit. Plus whatever you can get off.....

Was watching a place that was over 200k overpriced, even for 2007, they reduced it 50k, two months later its under offer, been on for nearly a year. So frustrating cos it will be months till I can find out what it went for, assuming is goes through, that the land reg put it on, that they can actually get a mortage etc etc etc.......

Thing is there were loads of reductions in september, then a couple of days when loads went under offer, inclding 21st October, now there isnt that much on the market, and of those there aren't many properties worth considering, even for very low offers.

So in a nut shell mainly reductions from stupid prices, and some minor real reductions.

Plus one great example of 2007 sold 550, fitted a new kitchen, ealry 2009, wait for it.....................650, and thats from the LR! I think people have money to burn round here!

Can you be more precise about "here"?

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I've seen a couple of dozen properties put up for sale in my local area in the last few weeks, and I've been really surprised that quite a few have been sold or are under offer.

Average price in my street is 94k and I've seen a few under offer for c150k !

In the current market I would be demanding blood and asking for a real discount, not the 10-15 % that a lot of numpties are content with.

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  • 150 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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