Jump to content
House Price Crash Forum
Sign in to follow this  
The Masked Tulip

Reduced Signs - Surely Not!?

Recommended Posts

I was out for a cycle this morning around Swansea West and was quite interested to see several 'for sale' boards now have 'reduced' signs added to them. I thought the housing market was booming :rolleyes:

Thought it was worth a mention.

Share this post


Link to post
Share on other sites

I am overwhelm by the sheer quantity of stock coming onto the market. Asking prices no too crazy for the current climate.

Looks like sellers calling the top and trying to cash in.

Share this post


Link to post
Share on other sites

The EA gets someone to come out and nail on a reduced board?

It might affect owner sentiment all by itself, more signs around with 'reduced' on them.

Saw the reaction of one owner where a charity shop had pair of jeans in window priced up at £1. And subtly affect buyer sentiment too. More signs needed though, more inventory required on market.

Share this post


Link to post
Share on other sites

My local rag, The Blackmore Vale Magazine carries ads from lots of agents.

Connells in particular regularly have reduced slapped across an ad.

Right next to a big splat declaring HOUSE PRICES ARE RISING.

I also saw a "feature" from some other weasel agent advising people how to not get gazumped by "always offering the asking price". :D

Share this post


Link to post
Share on other sites

indeed, nice falls in E17 and E4 but N17 still rising due to lack of stock

looks like MMR alone might not be enough :(

N17.

I shudder in its general direction.

Share this post


Link to post
Share on other sites

I was out for a cycle this morning around Swansea West and was quite interested to see several 'for sale' boards now have 'reduced' signs added to them. I thought the housing market was booming :rolleyes:

Thought it was worth a mention.

Hey TMT,

I can picture you with a big smile on your face :lol:

Share this post


Link to post
Share on other sites

MMR has only just been introduced, it's going to take a while for its impact to be properly felt.

I'm not so sure - there were a lot of people panicking and attempting to front run the new regulations (check out the old posts over at MSM)

Share this post


Link to post
Share on other sites

N17.

I shudder in its general direction.

The N17 postcode covers a large area- the southwest corner covering the roads off Philip Lane are OK (lived there for 8 years until recently).

Would definitely stay clear of the north east part near the spurs ground though that part will probably get better when the new stadium is built

Share this post


Link to post
Share on other sites

Another 9% drop locally (East) today for a 500K+ 4 bed house, also another one came back on at a lower price but couldn't find original.

Also I mentioned a 400K+ that sold in a week recently, that's back on market too but at same price.

I think this is EAs feeling out the top of market. They must be starting to put pressure on sellers as low transaction volumes doesn't help them one bit.

Share this post


Link to post
Share on other sites

And here's some news from me to add to that smile on TMT'S face. :)

During my searches in some areas I am watching, my trusted property bee shows me a marked increase in fallen through sales and price reductions over the last few weeks.

For example, today, a 24 hour search for Weston super Mare gives me:-

1 fallen through sale

1 fallen through sale with a £10k price reduction applied today, (making in all, a £25k price reduction)

2 further price reductions

A BTL'er trying to sell up

And some new to market

Here is the BTL'er example:-

http://www.rightmove.co.uk/property-for-sale/property-27081294.html

My usual 24 hour seach for Bridgend area of South Wales, shows:-

2 fallen through sales

8 price reductions

And some new to market.

Yesterday's search for Bridgend gave me 3 fallen through sales.

No "solds" for either area.

Looks like in some areas, the seller's panic has now started in earnest.

Share this post


Link to post
Share on other sites

The N17 postcode covers a large area- the southwest corner covering the roads off Philip Lane are OK (lived there for 8 years until recently).

Would definitely stay clear of the north east part near the spurs ground though that part will probably get better when the new stadium is built

The houses are bigger than Walthamsow, and more have basements, but i still wouldn't live there if you paid me.

Share this post


Link to post
Share on other sites

And here's some news from me to add to that smile on TMT'S face. :)

During my searches in some areas I am watching, my trusted property bee shows me a marked increase in fallen through sales and price reductions over the last few weeks.

For example, today, a 24 hour search for Weston super Mare gives me:-

1 fallen through sale

1 fallen through sale with a £10k price reduction applied today, (making in all, a £25k price reduction)

2 further price reductions

A BTL'er trying to sell up

And some new to market

Here is the BTL'er example:-

http://www.rightmove.co.uk/property-for-sale/property-27081294.html

My usual 24 hour seach for Bridgend area of South Wales, shows:-

2 fallen through sales

8 price reductions

And some new to market.

Yesterday's search for Bridgend gave me 3 fallen through sales.

No "solds" for either area.

Looks like in some areas, the seller's panic has now started in earnest.

Great news.

Share this post


Link to post
Share on other sites

I've seen a lot of new For Sale signs here in West Yorkshire too.

One or two hedging their bets with 'For Sale' and 'To Let' signs. No point in given it away I suppose.

Little (overpriced) terraced place near me I've had my eye on has finally 'sold' after loitering on Rightmove for an eternity. We'll see.

Nothing like the prospect of higher prices to increase supply.

Edited by aSecureTenant

Share this post


Link to post
Share on other sites

I'm not so sure - there were a lot of people panicking and attempting to front run the new regulations (check out the old posts over at MSM)

Yes. I was thinking more along the lines of the time it will take for the effects of MMR to be reflected in any MOM data.

Share this post


Link to post
Share on other sites

Nothing like the prospect of higher prices to increase supply.

I believe that it's the other way around.

Prices are going to fall = Panic and sell up before prices fall (I think we are seeing the start of that)

Prices are rising = Hold on and wait as you will get a better price (buyer pay for the transaction fees). I think that this is what we have been seeing the last couple of years with the shortage of stock for sale and the glut of rental stock.

Share this post


Link to post
Share on other sites

In HP22 (SE), I get the impression the cork has popped, and there is a few windy bottom's from the attempted sellers that have yet to win lottery stylee. Ready for realization, and the resultant tears.

Share this post


Link to post
Share on other sites

I've had about 5 mails from the same agent this morning all offering "open house viewings" for new instructions. Smacks of total desperation to me, so I asked to be removed from their mailing list, just to twist the knife a little bit more.

Share this post


Link to post
Share on other sites

Seems to be awful lot of houses for sale now in my area. Apparently most wish to downsize.

Seeing even more signs now with 'reduced' or 'new price' on the boards and it is only May. Also loads of houses advertised to let and for sale

Share this post


Link to post
Share on other sites

I've had about 5 mails from the same agent this morning all offering "open house viewings" for new instructions. Smacks of total desperation to me, so I asked to be removed from their mailing list, just to twist the knife a little bit more.

i registered with an agency in tottenham before christmas and received an email from them for the first time yesterday informing me of two new instructions-

one overpriced flat and one overpriced house

a sign of the times?

Share this post


Link to post
Share on other sites

I am overwhelm by the sheer quantity of stock coming onto the market. Asking prices no too crazy for the current climate.

Looks like sellers calling the top and trying to cash in.

Seeing a lot of this.....but not so much are they thinking of a possible crash, more they are thinking if they don't sell now they will be having to sit on it for longer than they had planned or would want to.....same thing really....but 'crash' is not part of their vocabulary. ;)

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • The Prime Minister stated that there were three Brexit options available to the UK:   203 members have voted

    1. 1. Which of the Prime Minister's options would you choose?


      • Leave with the negotiated deal
      • Remain
      • Leave with no deal

    Please sign in or register to vote in this poll. View topic


×

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.