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nicholei

Why Is Ea House 'sale' Stock Steadily Reducing ?

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From rightmove, all properties for sale / rent within 5 mile radius of Crawley, West Sussex:

Date Sale Rent

31.10.05 2550 501

16.11.05 2406 550

18.11.05 2342 575

20.11.05 2334 581

21.11.05 2329 583

22.11.05 2304 594

23.11.05 2300 592

24.11.05 2282 595

25.11.05 2278 613

It would be reasonable to venture that (what appears to be) a moderate reduction in EA sale stock here over the last couple of months is maybe because roughly 50% of houses currently being sold are because people think they are buying below full market value compared to summer last year, the other 50% are being rented because they can't be sold (but the seller still buys another place to move to).

Also, I get a daily email from rightmove detailing all (new in 24hrs) property to rent up to £1250 month within a 10 mile radius of Crawley. The last email contained 29 properties, only 14 of which seemed to be traditional 1 or 2 bedroom 'ideal-for-rental properties'. The rest (looked like) pretty nice 3/4 bedroom family homes - and the proportion of rentals which look like nice family homes rather than the typical shed / 2 bed, 2 bath exec flat seems to be increasing daily.

rightmove - rentals 10 mile radius crawley in last 24hrs

Maybe there is data / anecdotal evidence to support this in other locations?

Generally, office banter indicates that viewings have gone through the roof, but very few punters are biting. Most are just terrifically (understandably) excited that finally things may be moving their way - merely sniffing around the hook. Six years of desire to own a home, tempered by frustration, bitterness, angst and a wish to see the people who've 'made 100% on their house' brought down a peg or too (or maybe just stop the smugness).

Still, a couple of people's houses in the office have finally sold after 6 mths + on market, sale prices 6.6% (3 bed end of terr) & 6.3% (2 bed semi) lower than the first asking price.

Edited by nicholei

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Ive noticed the same thing myself, but then i see the same old houses reapear a few weeks later, at a differnt price. I have not seen them going Sold or STC they just disapear to return another day. I think people maybe getting p*ssed off waiting and dont want thier homes for sale over xmas aswell.

It would be abit crappy to try and keep show a room condition over xmas especially if you own some of them evil kid things.

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I am seeing this a lot in my area. Homes up for sale - stand around for a year and then go up for rent - most of them are still empty

A lot of the homes for rent are not tradtional BTL but family homes. You can usually tell these as the decoration and furniture is so family orientated. It looks like someone has just backed their bags and walked out.

Most are three bed semi or 2 bed terrace.

I think a lot of people bought last year and moved before selling their other house. I think they hoped their original hosue would sell very soon after but the market seemed to grind to a halt suddently.

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It would be abit crappy to try and keep show a room condition over xmas especially if you own some of them evil kid things.

:lol::lol::lol:

theChuz,

I am going to crack up when you eventually post that you have "met the one" and I will collapse when you post that baby Chuz is on the way. :o Will probably happen before the crash hits rock bottom. :):):)

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  • 301 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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