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man o' the year

Flood Of Property

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I have been looking at BA2 & BS39 areas for some time now. The last week or tow has seen a rapid increase in number of properties on market. 68 new today.

From 850ish properties in 5 mile radius to over 1000 so out of range for rightmove count so I have had to narrow search area to monitor from now on.

Many are high end properties on for first time but also price drops.

Of note is My link

Down from £5.5 M to £4.95 M

Since there is just over half a million quid disappeared does this count as deflation?

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Similar story in Essex. Loads coming on so far this year. Particularly in the last week or two has seen big increases. Around 5% increase in just way day for some areas!

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Sales running at half their usual rate for a few years has to add up eventually. A lot of people have to sell eventually for one reason or another.. Like death, every year a good 600,000 Brits die. The families can only hold it off the market so long, waiting for a better market.

Putting houses up in spring is probably a good time too, probably many of these new ones were waiting over the winter with plans to sell it in spring.

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Since there is just over half a million quid disappeared does this count as deflation?

It's money trying to move from a busted bubble to another market.

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Down from £5.5 M to £4.95 M

Since there is just over half a million quid disappeared does this count as deflation?

Yes this is deflation and it's the sort of deflation home owners don't want to see. We all like it when the price of the stuff we buy goes down, but when we are selling our primary asset we want it to be worth as much as possible. (when I say "we" i don't mean me!). I'm a home owner and my next move will be to a more expensive property. If the value of my home fell to £1,000 and I could buy double the home for £2,000 I would be more than happy.

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Yes this is deflation and it's the sort of deflation home owners don't want to see. We all like it when the price of the stuff we buy goes down, but when we are selling our primary asset we want it to be worth as much as possible. (when I say "we" i don't mean me!). I'm a home owner and my next move will be to a more expensive property. If the value of my home fell to £1,000 and I could buy double the home for £2,000 I would be more than happy.

+1

I'm not a home owner yet but when I'd become one I want the Market to keep falling as I will need to upsize at some point.

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I went through a big bunch of "looked at" houses yesterday. Was shocked by the number that have sold.

Yes that is completely consistent with the amount of SSTC boards I see here in Bristol. Seeing that banks are reluctant to lend it must mean that the pressure on prices is downward, i.e. that sellers are finally giving in and accepting lower offers. But that we will only see once properties change hands and sale prices get published.

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  • 312 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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