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A Lot Of Sstc

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I have a list of properties that i keep an eye on via Property Bee. Most have been for sale for many, many months. In the last couple of weeks however, quite a few are sstc. Maybe July is the new Spring Bounce time of year.

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I have a list of properties that i keep an eye on via Property Bee. Most have been for sale for many, many months. In the last couple of weeks however, quite a few are sstc. Maybe July is the new Spring Bounce time of year.

Duuno about Property Bee, but I've seen the letters "Sold STC" regularly. On the same sign near where I live every time I walk past, been like that for four months now...

Edited by cheeznbreed

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I have a list of properties that i keep an eye on via Property Bee. Most have been for sale for many, many months. In the last couple of weeks however, quite a few are sstc. Maybe July is the new Spring Bounce time of year.

Nope. Not on my regular trawl. Hotspots like York or Evesham seem to sell more regularly. But then I read today that 20% agreed sales fall through, which was 30% last year, which is quite a lot really.

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Does this mean that government has successfully placed a floor under average house prices in UK? Using vast amounts of tax payers' money of course, and by diverting money that could have been spent making peoples' lives better, safer and longer. Nevertheless, using an effort and resources on a par with those needed to defeat Naziism in 1945 they may have succeeded in establishing a "minimum house price" for the duration of the next economic cycle. It must mean though that government has to escalate the intervention on a year by year basis, spending more and more of the public purse on house price support measures. It has already outstripped defence spending and will soon overtake education and health. Social security will need to be protected as this budget is integral to the HPI support mechanism. I can't recall any historical precedent for a government expending so much in order to punish its own citizens. The Stalinist excesses of pre-war USSR may have been more vicious and destructive, but they were certainly not more expensive.

Edited by ingermany

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I think it is an important indicator of the strength of the market. Personally, in the areas I observe in the East Midlands I get a sold ratio of about 25%-30% on random counts at present....not really seen such a high ratio as this since 2006-7. put it this way in the depths of the crisis of 2008 the ratio was consistently sub 5%.

Volumes aren't always a price indicator. During the ''recovery'' of 2009 there conversely appeared to be nothing selling and phantom price growth on all the indicies.

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Noticed it in my area in April, started a thread on it on here.

Noticed it again last few weeks yup.

Front running Gidiot's scheme next Jan.

Edit: Here's my earlier thread on it

http://www.housepricecrash.co.uk/forum/index.php?showtopic=189559&view=findpost&p=909303025&hl=sstc&fromsearch=1

Edited by R K

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In one area I monitor (Greater London) 40% are sstc but if you divide the number sstc by the number sold per month then the sstc is 6 plus months supply (not including the sstc that the EAs remove from their websites). So yes lots sstc but not many actually sold ... many sstc re-list after 3 or 4 months as 'available'.

I'd love to know if Help to Buy is resposible for a significant number of chains collapsing as people get bored or encounter mortgage problems.

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I'm monitoring a few areas in Stockport, 3 bed semis around 200k.

I noticed a lot going SSTC around April, not recently though.

Observations:

1) Volumes are low.

2) Most currently advertised stuff either crap (grandparents decor, old kitchens & bathrooms) or overpriced versus comparables.

3) Difference between what things are currently marketed for and what's been sold is big. I'd say 20%.

4) The odd decent house that pops up, maybe a couple a month, are sold very quickly and are taken off rightmove.

5) I'm seeing more price drops than sales in the past couple of weeks.

6) I'm looking at taking a 10% hit on my 2006 sale price, but I don't see many houses I'm interested in being as realistic.

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In the used market for 3+ beds under 200K in the Gloucester area, there was a blip of STCs when the sun came out in April with a few chains setting up. Since then it's been pretty static, (700 3+ beds) supply on Right Move of houses 'For Sale' every 7 there are 3 reported as 'STC', roughly the same for many years now. This last couple of weeks PropertyBee has flagged up many small price drops 5-10k, so nothing much happening here yet.

I have no info for New builds.

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I follow a few places: South Wiltshire/West Hanmpshire/East Dorset + North Yorks.

In the SW this has been the first year for a good 6 when you have had houses coming to the market - at least having a 'For Sale' sign up.

A few have gone SSTC. A few appear to genuinely sold.

The few that have sold have gone for 2003-ish prices - I know as a friend's just shifted hers - as in completed - 3K more than she paid for it in 2002.

She'd put in about 10K worth or work - labour excluded.

I've seen a few more 'waves' of For Sale signs go up. This is unusual - most stuff tends to be put up Easter time.

Not sure whats driving it - optimism, pessimism desperation. Who knows.

NY its just piling up. Signs go down then come up a few months later. By that time a good few new/old places are back up.

There's probably 6+ years stock on the market. It'll never clear in a lot of the seller's lifetime.

London - I hear anecdotes,

Slightly better number of transaction but it all is foreign buyers.

Rich russians buy prime stuff.

Dumb chinese trying to launder money in Battersea newbuild flats.

All ares show transaction that are 20-30 percent of the normal transaction levels - if we ever see those again.

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Duuno about Property Bee, but I've seen the letters "Sold STC" regularly. On the same sign near where I live every time I walk past, been like that for four months now...

I can't say I've seen 'stc' on boards, but then, my eyes aren't what they were....

SOLD stc

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Seen the opposite to the OP. A vast number of properties went SSTC back in late Jan/early Feb and it has taken till the last fortnight for, I would guess, about 80% of them to come back on the market.

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Seen the opposite to the OP. A vast number of properties went SSTC back in late Jan/early Feb and it has taken till the last fortnight for, I would guess, about 80% of them to come back on the market.

same in northampton. loads of crazy asking prices...loads gone sold stc...steady flow of sales falling tthough and price drops now.

see the passionate sale fall through and they whack up the asking price...then it falls again.

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Was looking in Cambridge a few weeks ago, had a list of around 20 possibilities and 15 of them have gone stc etc, the others are not worth having for one reason or another. As we were looking at the cheap end (still expensive) I get the impression that it was speculators buying up from talks with EA's. I was also begining to wonder if maybe some sellers are 'buying' the other houses for sale, keeping them on a bit of string till they sell their place, maybe using friends and rels to put big offers in on the competitors proeprties.

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In the used market for 3+ beds under 200K in the Gloucester area, there was a blip of STCs when the sun came out in April with a few chains setting up. Since then it's been pretty static, (700 3+ beds) supply on Right Move of houses 'For Sale' every 7 there are 3 reported as 'STC', roughly the same for many years now. This last couple of weeks PropertyBee has flagged up many small price drops 5-10k, so nothing much happening here yet.

I have no info for New builds.

Although I tend to exclude most of Gloucester, my searches in and around the GL5 have seen a noticeable uptick in SSTC, I commented as much on a recent thread. This would be low end houses 2-3 bed.

Have no problem with volume going up as its all dependent on prices.. Sadly, these aren't going down with it either.

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In North Wales this seems to be standard EA tactics.....

Sstc for 2 - 4 months, then removed....

then new listing with different EA and photos and a new price - sometimes up but usually down

PropertyBee is getting useless as it cannot spot this. EA`s now no longer have to publish the EPC they just have to put "EPC-D"

PropertyBee is also incapable of "fully" saving the details - they just disappear

My favourite property has been on the market for over 3 years and has done this three times now. My first save has furniture, pictures and nicknacs. Second save has some furniture. current save has nothing.

ADVICE - if you are saving a property save everything to your hard drive immediately (including EPC) - Or lose it!!!!

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3 and 4 bed semi/detached houses sub 200K. Sill looking like the summer dull-drums, not much STC action. A fair few price drops, probably from families that planned to move before the next school year starts in September and getting little viewing interest or offers.

My theory is that the New Buyer schemes are sucking in more FTBs reducing the chain starters and the non FTBs in the second hand house market will hang on to see what Help To Buy will offer next year. All of which could stall summer sales volumes and might lead to some lucky deals being struck with those sellers that really have to move in their chain. If you are in an area short of hot speculation money then this could be the scenario in play for the next few months. A chain free cheeky chap/chap-et could have a strong hand to play at the moment.

My gut feeling would be to wait and see (2 to 4yrs) but time is ticking for me and my family needs a home, so I'm beginning to feel like a bit of a forced buyer, the deposit is not large enough and long fixed rates are becoming a temptation.

Edited by DarkHorseWaits

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same in northampton. loads of crazy asking prices...loads gone sold stc...steady flow of sales falling tthough and price drops now.

see the passionate sale fall through and they whack up the asking price...then it falls again.

Couple of flats for sale in my block, seem to be getting zero interest though :lol:

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  • 238 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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