Realistbear Posted February 7, 2011 Share Posted February 7, 2011 (edited) 0 properties within a god knows what mile radius in god knows how many months,its a bear fest i tell you It all depends on where you live. In your area there may be no cuts coming and everyone is wealthy and no need to feel pressure. I am astonished at E and W Sussex-- and thanks to the OP as it has reinforced my belief that a flood is happening. Imagine, 1000 plus in Brighton--and that in just 2 weeks. I am checking out other areas in Sussex now and its great everywhere--look at the Gatwick area--talk about a flood--its a kin deluge! Yippeeee--panic is here at last. Edited February 7, 2011 by Realistbear Quote Link to comment Share on other sites More sharing options...
DownsizingDiva Posted February 7, 2011 Author Share Posted February 7, 2011 Same is happening in East Sussex. people are scared and they no longer believe the Express when it says prices are still soaring. Job losses is a huge and powerful catalyst to get a market moving--to the sharp downside. Our friend in Southampton has been listening to the EAs' "shortage of supply" cobblers because this is all the VIs have left to try to get buyers to jump in. Well, the numbers on RM show it ain't working too good. No siree. MM-mm. http://www.rightmove.co.uk/property-for-sale/find.html?locationIdentifier=REGION%5E93554&maxDaysSinceAdded=14&radius=3.0 594 properties for sale found And that is how many new properties are listed around my way in the last 14 days in a narrow 3 mile radius. Glug glu glug--the flood has arrived!!! I haven't been listening to any EAs. I would rather have my toenails pulled out very slowly than listen to an EA. As I said in my original post, I monitor properties on Rightmove via propertybee. Quote Link to comment Share on other sites More sharing options...
Realistbear Posted February 7, 2011 Share Posted February 7, 2011 (edited) http://www.rightmove.co.uk/property-for-sale/find.html?locationIdentifier=REGION%5E545&insId=6&maxDaysSinceAdded=14&radius=10.0 889 properties for sale found And that folks is in THE numero uno Sussex location of them all--Gatwick aiport area. One of THE hot spots in the boom. Look at it--almost 1000 new properties in the last 2 weeks. The BTLers must be filling their drawers. THis is great--thanks again to the OP as I really really had no idea there was this much new stuff comingon. My local EA said they were getting quite a few new listings but he didn't admit to this many. IMagine what its going to be like in March as the first tranch of job cuts hit us next week in many areas--mostly government. Mind you, I do not take delight in people losing jobs but I am thrilled to pieces to see floods of porperties coming on the market and all at once. Edited February 7, 2011 by Realistbear Quote Link to comment Share on other sites More sharing options...
Georgia O'Keeffe Posted February 7, 2011 Share Posted February 7, 2011 It all depends on where you live. In your area there may be no cuts coming and everyone is wealthy and no need to feel pressure. I am astonished at E and W Sussex-- and thanks to the OP as it has reinforced my belief that a flood is happening. Imagine, 1000 plus in Brighton--and that in just 2 weeks. I am checking out other areas in Sussex now and its great everywhere--look at the Gatwick area--talk about a flood--its a kin deluge! Yippeeee--panic is here at last. i think the issue here is in the past few years its taken more than the ability to fog a mirror to buy a house and theres a severe shortage of lesbian outreach diversity officers that can be laid off Quote Link to comment Share on other sites More sharing options...
DownsizingDiva Posted February 7, 2011 Author Share Posted February 7, 2011 You must be joking right? West Sussex is THE area for flooding of new properties. Check out RM http://www.rightmove.co.uk/property-for-sale/find.html?locationIdentifier=REGION%5E1206&maxDaysSinceAdded=14&radius=10.0 1000+ properties for sale found And thats 1000+ in just 14 days in the West Sussex-Shoreham area! And Shoreham is not known for big floods of propepties being a somewhat quiet backwater of Brighton. Narrow it down to 3 miles and there are 237 new properties--that's in the last 2 weeks alone. West and East Sussex are seeing the fastest growth in new listings of any region in the UK it looks like. I thought it was gettng good in my part of Eas Sussex but this has really inspired me no end. I had NO IDEA there were as many new properties as this. Way Hay--bring it on . Errr, Southampton is not in Sussex, it's in Hampshire... Quote Link to comment Share on other sites More sharing options...
Georgia O'Keeffe Posted February 7, 2011 Share Posted February 7, 2011 Errr, Southampton is not in Sussex, it's in Hampshire... thats close enough for RB, im suprised he didnt post a link to Guangzhou Quote Link to comment Share on other sites More sharing options...
Realistbear Posted February 7, 2011 Share Posted February 7, 2011 I haven't been listening to any EAs. I would rather have my toenails pulled out very slowly than listen to an EA. As I said in my original post, I monitor properties on Rightmove via propertybee. When you said: "There has been a 20% drop in the number of homes for sale in the area I am currently watching" Did you really mean a 20% INCREASE in new properties coming to market? I think you will find if you do a RM search that it is a LOT more than 20%. Everywhere I look in E or W Sussex and the numbers of new properties are huge. And the VIs said Brighton and Gatwick would always have shortages due to pent up demand and wealthy parents buying their kids properties. Yeah right. When Gatwick and Brighton go down you KNOW the rest are stoning it. I would do some more research and be comforted by the data--Sussex will be a hot spot for bargains. I run a Zoopla check on price drops and am watching a handful of properties and they are already dropping in double digits--10-12%. Since November 2010. Quote Link to comment Share on other sites More sharing options...
LuckyOne Posted February 7, 2011 Share Posted February 7, 2011 Errr, Southampton is not in Sussex, it's in Hampshire... RB did the research though. There were 1000+ new homes listed for sale within 10 miles of Southampton in the last 14 days. I narrowed down the search radius to within 3 miles of Southampton and found 833 new homes listed for sale in the last 14 days. I suspect that the South Coast is a homogeneous market characterised by massive new supply that does not respect county borders. Quote Link to comment Share on other sites More sharing options...
Realistbear Posted February 7, 2011 Share Posted February 7, 2011 Errr, Southampton is not in Sussex, it's in Hampshire... Duznt matter--the whole of the South is on fire with new listings. Check out the poor sods in Kent--they are in the same boat. Hampshire is even BETTER than West Sussex--just over the border, but just as many coming on: http://www.rightmove.co.uk/property-for-sale/find.html?locationIdentifier=REGION%5E1231&insId=7&maxDaysSinceAdded=14&radius=10.0 1000+ properties for sale found IN the last 14 days, 10 mi radius. When they say 1000+ it is because there is such a vast number they have lost count. There are 100+ pages of listings for your area and there are 10 per page. Quote Link to comment Share on other sites More sharing options...
NEO72 Posted February 7, 2011 Share Posted February 7, 2011 A 20% fall in supply doesn't do much for HPI if there is a 20% fall in demand. And presumably all these would-be sellers weren't planning to emigrate. Quote Link to comment Share on other sites More sharing options...
Realistbear Posted February 7, 2011 Share Posted February 7, 2011 RB did the research though. There were 1000+ new homes listed for sale within 10 miles of Southampton in the last 14 days. I narrowed down the search radius to within 3 miles of Southampton and found 833 new homes listed for sale in the last 14 days. I suspect that the South Coast is a homogeneous market characterised by massive new supply that does not respect county borders. This is true. My local EAs are telling sellers NOT to put For Sale signs up because it "looks bad." It sure as hell does. Verrry bad. Happy days ahead HPCers. Glory Glory Glory!!! Quote Link to comment Share on other sites More sharing options...
Pent Up Posted February 7, 2011 Share Posted February 7, 2011 RB did the research though. There were 1000+ new homes listed for sale within 10 miles of Southampton in the last 14 days. I narrowed down the search radius to within 3 miles of Southampton and found 833 new homes listed for sale in the last 14 days. I suspect that the South Coast is a homogeneous market characterised by massive new supply that does not respect county borders. You need something to compare to though. OP type your postcode here: http://www.rightmove.co.uk/house-prices-in-my-area/marketTrendsTotalAvailableListingsAndNew.html/nomsite?searchLocation=SO16 and you will see the number of properties available for sale each month for last two years. You will see that winter always has a drop off in listings. Compare this winter to last. Quote Link to comment Share on other sites More sharing options...
Realistbear Posted February 7, 2011 Share Posted February 7, 2011 http://www.rightmove.co.uk/property-for-sale/find.html?locationIdentifier=REGION%5E194&insId=8&maxDaysSinceAdded=14&radius=10.0 1000+ properties for sale found And that is in the super-rich Dudical Bournemouth area--10 mile radius again--14 days of flooding properties. RM did not plan for new properties comng on in the thousands which is why their clock stops at "1000+" The whole South is going under water with new listings. Quote Link to comment Share on other sites More sharing options...
J-Hi Posted February 7, 2011 Share Posted February 7, 2011 Didn't RB turn bull a couple of weeks? Quote Link to comment Share on other sites More sharing options...
Georgia O'Keeffe Posted February 7, 2011 Share Posted February 7, 2011 Didn't RB turn bull a couple of weeks? it clearly had the desired effect Quote Link to comment Share on other sites More sharing options...
LuckyOne Posted February 7, 2011 Share Posted February 7, 2011 You need something to compare to though. OP type your postcode here: http://www.rightmove.co.uk/house-prices-in-my-area/marketTrendsTotalAvailableListingsAndNew.html/nomsite?searchLocation=SO16 and you will see the number of properties available for sale each month for last two years. You will see that winter always has a drop off in listings. Compare this winter to last. So a 23% yoy increase from December 2009 if my trusty calculator is working correctly. Perhaps the OP meant "A 20% Increase In Supply - Will This Lead To A Spring Crash?" Quote Link to comment Share on other sites More sharing options...
Realistbear Posted February 7, 2011 Share Posted February 7, 2011 Didn't RB turn bull a couple of weeks? No--"neither." Someone said when the last bear turns bull, or neither in my case, the crash will begin. It seems to have done the trick. But seriously, back in the late Autumn it looked a bit grim and then, all of a sudden, the crash began as floods of properties hit the market in the wake of job cut annoucements--fear gripped the market and here we are today. Quote Link to comment Share on other sites More sharing options...
The Masked Tulip Posted February 7, 2011 Share Posted February 7, 2011 You need something to compare to though. OP type your postcode here: http://www.rightmove.co.uk/house-prices-in-my-area/marketTrendsTotalAvailableListingsAndNew.html/nomsite?searchLocation=SO16 and you will see the number of properties available for sale each month for last two years. You will see that winter always has a drop off in listings. Compare this winter to last. Oh, I like that link. Kinda puts things into perspective in SA2 and SA3. Quote Link to comment Share on other sites More sharing options...
DownsizingDiva Posted February 7, 2011 Author Share Posted February 7, 2011 RB did the research though. There were 1000+ new homes listed for sale within 10 miles of Southampton in the last 14 days. I narrowed down the search radius to within 3 miles of Southampton and found 833 new homes listed for sale in the last 14 days. I suspect that the South Coast is a homogeneous market characterised by massive new supply that does not respect county borders. I did the research too. In the area I am monitoring the supply has gone down (houses priced £0 - £250K) from 227 on the 20th November to 182 yesterday. I am looking in a 3 mile radius of a specific postcode on the outskirts of Southampton. Quote Link to comment Share on other sites More sharing options...
Realistbear Posted February 7, 2011 Share Posted February 7, 2011 (edited) So a 23% yoy increase from December 2009 if my trusty calculator is working correctly. Perhaps the OP meant "A 20% Increase In Supply - Will This Lead To A Spring Crash?" I asked the OP is they meant an "increase" rather than a "decrease." Easy mistake to make if you have fat or flying fingers. I can type at 200 wpm but the trouble is my fingers can't keep up with my brain so it comes out like dyslexic soup someties. I wonder if the OP was really having a laugh on here? Edited February 7, 2011 by Realistbear Quote Link to comment Share on other sites More sharing options...
DownsizingDiva Posted February 7, 2011 Author Share Posted February 7, 2011 So a 23% yoy increase from December 2009 if my trusty calculator is working correctly. Perhaps the OP meant "A 20% Increase In Supply - Will This Lead To A Spring Crash?" Err, NO. I did NOT mean a 20% increase in supply. I typed what I meant and what I have seen on Rightmove via Propertybee. Quote Link to comment Share on other sites More sharing options...
DownsizingDiva Posted February 7, 2011 Author Share Posted February 7, 2011 I asked the OP is they meant an "increase" rather than a "decrease." Easy mistake to make if you have fat or flying fingers. I can type at 200 wpm but the trouble is my fingers can't keep up with my brain so it comes out like dyslexic soup someties. I wonder if the OP was really having a laugh on here? No I am not having a laugh. I have neither fat nor flying fingers. My typing is very good thank you, as is my maths. 227 to 182 properties is approximately (I haven't bothered to calculate it exactly so don't try and correct me on that as well) 20%. Quote Link to comment Share on other sites More sharing options...
Realistbear Posted February 7, 2011 Share Posted February 7, 2011 (edited) I did the research too. In the area I am monitoring the supply has gone down (houses priced £0 - £250K) from 227 on the 20th November to 182 yesterday. I am looking in a 3 mile radius of a specific postcode on the outskirts of Southampton. What is the post code? Outskirts of Soton are showing huge increases in supply. Here is an example--Winchester is in Hants and they are typical: http://www.rightmove.co.uk/property-for-sale/find.html?locationIdentifier=REGION%5E1460&insId=9&maxDaysSinceAdded=14&radius=10.0 994 properties for sale found Again, 10 mi radius and over the last 14 days. Everywhere in Hampshire is seeing these kinds of increases. Edited February 7, 2011 by Realistbear Quote Link to comment Share on other sites More sharing options...
DownsizingDiva Posted February 7, 2011 Author Share Posted February 7, 2011 (edited) What is the post code? Outskirts of Soton are showing huge increases in supply. Here is an example--Winchester is in Hants and they are typical: http://www.rightmove.co.uk/property-for-sale/find.html?locationIdentifier=REGION%5E1460&insId=9&maxDaysSinceAdded=14&radius=10.0 994 properties for sale found Again, 10 mi radius and over the last 14 days. Everywhere in Hampshire is seeing these kinds of increases. OK - I'll be a little more specific - SO50 postcode. Again, I reiterate - on the 20th November in my 3 mile radius search I had the choice of 227 properties within a £0-£250K price range (3 bedrooms). Now there are 182 - well that was yesterday. I shall have a look in a minute and see what today's figure is. Edit: Just looked - 181 - more reduction in supply then... Edited February 7, 2011 by DownsizingDiva Quote Link to comment Share on other sites More sharing options...
Tired of Waiting Posted February 7, 2011 Share Posted February 7, 2011 I am not actually in Southampton City itself. On the outskirts about 5 miles out. I am monitoring properties within a 3 mile radius of a particular postcode (due to proximity to work) and that area has 182 properties for sale, compared with 227 in November! Guess I will just have to widen my search criteria! Or wait 2 months. Then you will realise that new supply will be flooding the market, and prices are falling. Then you will realise that you should wait a little longer. Quote Link to comment Share on other sites More sharing options...
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