hpn Posted October 15, 2015 Share Posted October 15, 2015 I wish someone could put these falls into graph form. If anyone has longer term data I would be happy to do so, I work in data analysis. Quote Link to comment Share on other sites More sharing options...
Vigilante1 Posted October 15, 2015 Share Posted October 15, 2015 Was a biggy for Northants AreTheShiresCrashing @ShiresCrashing 14h14 hours ago Northampton last 24 hours...35 listings....19 drops....54% drops/fails !!!!! Looks like it's brown pants time for the Buy Toileters. #Good LOVELY JUBBBBBBBBBBLY! Hopefully the REAL blood will start next month....fasten ya seat belts (houses ONLY go UP) suckers! Quote Link to comment Share on other sites More sharing options...
king_of_stretham Posted October 16, 2015 Share Posted October 16, 2015 Right Todays results were interesting Less supply and I have included a few more. One of the properties in Hartfordshire breaks Property Bee so No Hartfordshire results this month. This is the first time I have seen it and indeed it seems to mess up rightmoves formatting too. Also alot of Nones as current price. These will be excluded in the next run since these are listed as POA's so cannot get a price from RM. Further notes I now count Price rises, these actually occur more often in london towns i.e. Brighton, Reading and Guildford so if a property sales falls through AND the price is increased at the same time then this doesn't count as a failed sale. Otherwise it was minor changes like Sale by tender being taken out. What I have learned is that RM seems a very fluid website and you can so there are a lot of variations for each listing so nearly every run I find a house that breaks my tool. But only one house will do it out of the thousands I scan. So bear the slight changes in methodology in mind when you compare the results. house price > £177500 42.20% failed/reduced sales 138/327 house price > £115000 42.81% failed/reduced sales 140/327 house price > £20000 45.90% failed/reduced sales 151/329 Total of 43.64% Rightmove listings for 'West Yorkshire' over last 7 days are reductions or fails 429/983 house price > £329950 59.46% failed/reduced sales 22/37 house price > £179995 37.84% failed/reduced sales 14/37 house price > £35000 32.43% failed/reduced sales 12/37 Total of 43.24% Rightmove listings for 'Herefordshire' over last 7 days are reductions or fails 48/111 house price > £199000 35.62% failed/reduced sales 52/146 house price > £120000 45.89% failed/reduced sales 67/146 house price > £None 45.27% failed/reduced sales 67/148 Total of 42.27% Rightmove listings for 'Cumbria' over last 7 days are reductions or fails 186/440 house price > £235000 44.44% failed/reduced sales 32/72 house price > £155000 47.22% failed/reduced sales 34/72 house price > £13500 33.78% failed/reduced sales 25/74 Total of 41.74% Rightmove listings for 'Isle of Wight' over last 7 days are reductions or fails 91/218 house price > £207996 43.97% failed/reduced sales 124/282 house price > £129950 35.46% failed/reduced sales 100/282 house price > £None 45.23% failed/reduced sales 128/283 Total of 41.56% Rightmove listings for 'Staffordshire' over last 7 days are reductions or fails 352/847 house price > £197950 35.76% failed/reduced sales 103/288 house price > £125000 39.93% failed/reduced sales 115/288 house price > £None 47.93% failed/reduced sales 139/290 Total of 41.22% Rightmove listings for 'Lincolnshire' over last 7 days are reductions or fails 357/866 house price > £189950 44.32% failed/reduced sales 121/273 house price > £125000 37.36% failed/reduced sales 102/273 house price > £None 41.97% failed/reduced sales 115/274 Total of 41.22% Rightmove listings for 'Derbyshire' over last 7 days are reductions or fails 338/820 house price > £275000 40.55% failed/reduced sales 133/328 house price > £174950 44.51% failed/reduced sales 146/328 house price > £None 37.69% failed/reduced sales 124/329 Total of 40.91% Rightmove listings for 'Devon' over last 7 days are reductions or fails 403/985 house price > £190000 36.69% failed/reduced sales 102/278 house price > £111950 36.69% failed/reduced sales 102/278 house price > £None 47.84% failed/reduced sales 133/278 Total of 40.41% Rightmove listings for 'Glamorgan' over last 7 days are reductions or fails 337/834 house price > £199950 31.17% failed/reduced sales 24/77 house price > £115000 41.56% failed/reduced sales 32/77 house price > £5000 46.75% failed/reduced sales 36/77 Total of 39.83% Rightmove listings for 'Northumberland' over last 7 days are reductions or fails 92/231 house price > £279950 44.44% failed/reduced sales 76/171 house price > £170000 39.18% failed/reduced sales 67/171 house price > £None 34.88% failed/reduced sales 60/172 Total of 39.49% Rightmove listings for 'Worcestershire' over last 7 days are reductions or fails 203/514 house price > £195600 37.74% failed/reduced sales 97/257 house price > £120000 37.74% failed/reduced sales 97/257 house price > £None 41.63% failed/reduced sales 107/257 Total of 39.04% Rightmove listings for 'Nottinghamshire' over last 7 days are reductions or fails 301/771 house price > £275000 37.75% failed/reduced sales 77/204 house price > £179950 39.22% failed/reduced sales 80/204 house price > £None 39.51% failed/reduced sales 81/205 Total of 38.83% Rightmove listings for 'Cornwall' over last 7 days are reductions or fails 238/613 house price > £375000 41.58% failed/reduced sales 126/303 house price > £234000 35.97% failed/reduced sales 109/303 house price > £None 36.18% failed/reduced sales 110/304 Total of 37.91% Rightmove listings for 'East Sussex' over last 7 days are reductions or fails 345/910 house price > £339950 40.66% failed/reduced sales 111/273 house price > £215000 41.39% failed/reduced sales 113/273 house price > £None 31.50% failed/reduced sales 86/273 Total of 37.85% Rightmove listings for 'Dorset' over last 7 days are reductions or fails 310/819 house price > £265000 37.36% failed/reduced sales 102/273 house price > £172500 39.93% failed/reduced sales 109/273 house price > £None 36.00% failed/reduced sales 99/275 Total of 37.76% Rightmove listings for 'Norfolk' over last 7 days are reductions or fails 310/821 house price > £249950 27.89% failed/reduced sales 70/251 house price > £160000 36.65% failed/reduced sales 92/251 house price > £37500 45.06% failed/reduced sales 114/253 Total of 36.56% Rightmove listings for 'Leicestershire' over last 7 days are reductions or fails 276/755 house price > £599950 39.88% failed/reduced sales 132/331 house price > £375000 41.39% failed/reduced sales 137/331 house price > £None 25.98% failed/reduced sales 86/331 Total of 35.75% Rightmove listings for 'Surrey' over last 7 days are reductions or fails 355/993 house price > £220000 57.89% failed/reduced sales 11/19 house price > £110000 21.05% failed/reduced sales 4/19 house price > £45000 26.32% failed/reduced sales 5/19 Total of 35.09% Rightmove listings for 'Durham' over last 7 days are reductions or fails 20/57 house price > £245000 34.90% failed/reduced sales 67/192 house price > £164995 34.90% failed/reduced sales 67/192 house price > £None 35.42% failed/reduced sales 68/192 Total of 35.07% Rightmove listings for 'Northamptonshire' over last 7 days are reductions or fails 202/576 house price > £320000 36.84% failed/reduced sales 105/285 house price > £199500 35.09% failed/reduced sales 100/285 house price > £None 30.31% failed/reduced sales 87/287 Total of 34.07% Rightmove listings for 'Somerset' over last 7 days are reductions or fails 292/857 house price > £300000 32.85% failed/reduced sales 68/207 house price > £175000 31.40% failed/reduced sales 65/207 house price > £None 37.80% failed/reduced sales 79/209 Total of 34.03% Rightmove listings for 'Suffolk' over last 7 days are reductions or fails 212/623 house price > £310000 34.18% failed/reduced sales 54/158 house price > £200000 34.18% failed/reduced sales 54/158 house price > £None 32.50% failed/reduced sales 52/160 Total of 33.61% Rightmove listings for 'Wiltshire' over last 7 days are reductions or fails 160/476 house price > £389950 38.52% failed/reduced sales 94/244 house price > £250000 29.92% failed/reduced sales 73/244 house price > £None 31.56% failed/reduced sales 77/244 Total of 33.33% Rightmove listings for 'West Sussex' over last 7 days are reductions or fails 244/732 house price > £300000 35.90% failed/reduced sales 84/234 house price > £199950 29.91% failed/reduced sales 70/234 house price > £None 31.91% failed/reduced sales 75/235 Total of 32.57% Rightmove listings for 'Gloucestershire' over last 7 days are reductions or fails 229/703 house price > £320000 34.46% failed/reduced sales 51/148 house price > £184950 31.76% failed/reduced sales 47/148 house price > £None 26.85% failed/reduced sales 40/149 Total of 31.01% Rightmove listings for 'Warwickshire' over last 7 days are reductions or fails 138/445 house price > £1899950 22.14% failed/reduced sales 29/131 house price > £975000 35.88% failed/reduced sales 47/131 house price > £60000 32.58% failed/reduced sales 43/132 Total of 30.20% Rightmove listings for 'Central London' over last 7 days are reductions or fails 119/394 house price > £375000 29.91% failed/reduced sales 99/331 house price > £245000 29.00% failed/reduced sales 96/331 house price > £None 30.12% failed/reduced sales 100/332 Total of 29.68% Rightmove listings for 'Essex' over last 7 days are reductions or fails 295/994 house price > £325000 25.84% failed/reduced sales 54/209 house price > £184950 26.79% failed/reduced sales 56/209 house price > £14000 35.24% failed/reduced sales 74/210 Total of 29.30% Rightmove listings for 'Cambridgeshire' over last 7 days are reductions or fails 184/628 house price > £350000 35.15% failed/reduced sales 116/330 house price > £210000 27.27% failed/reduced sales 90/330 house price > £None 25.38% failed/reduced sales 84/331 Total of 29.26% Rightmove listings for 'Hampshire' over last 7 days are reductions or fails 290/991 house price > £450000 33.16% failed/reduced sales 64/193 house price > £275000 25.39% failed/reduced sales 49/193 house price > £None 26.80% failed/reduced sales 52/194 Total of 28.45% Rightmove listings for 'Buckinghamshire' over last 7 days are reductions or fails 165/580 house price > £379950 31.52% failed/reduced sales 104/330 house price > £230000 29.70% failed/reduced sales 98/330 house price > £None 23.87% failed/reduced sales 79/331 Total of 28.36% Rightmove listings for 'Kent' over last 7 days are reductions or fails 281/991 house price > £480000 31.50% failed/reduced sales 63/200 house price > £320000 27.00% failed/reduced sales 54/200 house price > £None 21.29% failed/reduced sales 43/202 Total of 26.58% Rightmove listings for 'Berkshire' over last 7 days are reductions or fails 160/602 house price > £299950 24.19% failed/reduced sales 30/124 house price > £210000 19.35% failed/reduced sales 24/124 house price > £None 28.57% failed/reduced sales 36/126 Total of 24.06% Rightmove listings for 'Bristol' over last 7 days are reductions or fails 90/374 house price > £249995 25.61% failed/reduced sales 21/82 house price > £140000 24.39% failed/reduced sales 20/82 house price > £10000 21.95% failed/reduced sales 18/82 Total of 23.98% Rightmove listings for 'Edinburgh' over last 7 days are reductions or fails 59/246 house price > £149995 19.31% failed/reduced sales 28/145 house price > £89950 20.00% failed/reduced sales 29/145 house price > £None 31.03% failed/reduced sales 45/145 Total of 23.45% Rightmove listings for 'Glasgow' over last 7 days are reductions or fails 102/435 house price > £450000 26.83% failed/reduced sales 44/164 house price > £299950 25.61% failed/reduced sales 42/164 house price > £None 15.66% failed/reduced sales 26/166 Total of 22.67% Rightmove listings for 'Oxfordshire' over last 7 days are reductions or fails 112/494 Quote Link to comment Share on other sites More sharing options...
king_of_stretham Posted October 16, 2015 Share Posted October 16, 2015 I should also say I don't search by price now (it is by date added) so those high listing places like surrey are more representative and ;less screwed towards the higher end. Quote Link to comment Share on other sites More sharing options...
janch Posted October 16, 2015 Share Posted October 16, 2015 ....."I find a house that breaks my tool........" sorry to hear that Quote Link to comment Share on other sites More sharing options...
Conquistador Posted October 18, 2015 Share Posted October 18, 2015 Exeter (my definition): week ending 4 Oct: 18/81 reduced (22%) week ending 11 Oct: 13/68 reduced (19%) week ending 18 Oct: 15/86 reduced (17%) Quote Link to comment Share on other sites More sharing options...
dances with sheeple Posted October 18, 2015 Share Posted October 18, 2015 Was a biggy for Northants AreTheShiresCrashing @ShiresCrashing 14h14 hours ago Northampton last 24 hours...35 listings....19 drops....54% drops/fails !!!!! Looks like it's brown pants time for the Buy Toileters. #Good I think there is a surge coming on.............round the U-Bend....... Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted October 18, 2015 Author Share Posted October 18, 2015 I think there is a surge coming on.............round the U-Bend....... :-) Quote Link to comment Share on other sites More sharing options...
spunko2010 Posted October 20, 2015 Share Posted October 20, 2015 I'm not sure if this is hilarious, or infuriating. http://www.rightmove.co.uk/property-for-sale/property-35412978.html It sold 14 months ago.. for £440,000. The vendor has done nothing except replace a few windows and painted a few of the rooms (her own admission). Quote Link to comment Share on other sites More sharing options...
mattyboy1973 Posted October 20, 2015 Share Posted October 20, 2015 I'm not sure if this is hilarious, or infuriating. http://www.rightmove.co.uk/property-for-sale/property-35412978.html It sold 14 months ago.. for £440,000. The vendor has done nothing except replace a few windows and painted a few of the rooms (her own admission). I'm seeing some asking price increases of that order, over that time period (PO20). Those properties don't seem to be shifting (thankfully), but there certainly seems to be a mood of "trying it on" about the place. Quote Link to comment Share on other sites More sharing options...
Fretful Mother Posted October 20, 2015 Share Posted October 20, 2015 Certainly a mood of "trying it on" with asking prices. Certainly a mood for not shifting on those prices and therefore nothing's selling. We've rented for years now so aren't in a hurry. There's also a troublesome mood for outright lying about what prices are being achieved... I know estate agents aren't renowned for honesty and I know they're acting in the vendor's interest but they don't seem to realise that real human beings talk to one another and in certain parts of the country everyone's related - which is very handy when you need to know what's really going on - what houses sold for recently etc. Quote Link to comment Share on other sites More sharing options...
Killer Bunny Posted October 20, 2015 Share Posted October 20, 2015 Chatting to a guy I know locally who recloned his house is worth £800k. I nodded When I got back I went on houseprices.io - not one on his estate sold this year. 3 Last year - average £435k! Beyond too funny. Quote Link to comment Share on other sites More sharing options...
spunko2010 Posted October 20, 2015 Share Posted October 20, 2015 Indeed. Agents often say they hate Rightmove because the fees are extortionate, but I suspect the real reason is they hate that they display recent sold prices next to the property. There can't be that many people who buy a house without looking at recent sold prices online, can there? Maybe not anyone under 50 anyway. (Incidentally does £600 a month sound extortionate to anyone? It doesn't to me when you generate 80% of your leads from it) Quote Link to comment Share on other sites More sharing options...
jiltedjen Posted October 20, 2015 Share Posted October 20, 2015 Devon: This autumn is certainly much much more fruitful that autumn. Loads more houses coming up in the 100k range which would of been listed around 130k kite-flying level last year. The 2013/14 HTB bubble has passed through the system like a bad curry. prices are starting to look around early 2013 levels again. and with no Blatant bubble measure being rolled out on the horizon I can see the slow grind lower of prices up until 2018 now (I expect the government to do a HTB mk2 bubble then) So a tasty two years of the slow grind lower in prices. also noticed last year all houses were being listed with 'great investment BTL income' on the adverts, hardly ever mentioning first time buyers. that's now changed to always listing putting 'great for FTB's or BTL' Now FTB are mentioned before BTL. It's a good sign that the BTL buyers have suddenly dried up, it might seem minor but my guessing is that the estate agents can see on the ground that BTL have flipped from expanding to contracting. first time in a long time I have felt so positive! Quote Link to comment Share on other sites More sharing options...
Exiled Canadian Posted October 20, 2015 Share Posted October 20, 2015 Indeed. Agents often say they hate Rightmove because the fees are extortionate, but I suspect the real reason is they hate that they display recent sold prices next to the property. There can't be that many people who buy a house without looking at recent sold prices online, can there? Maybe not anyone under 50 anyway. (Incidentally does £600 a month sound extortionate to anyone? It doesn't to me when you generate 80% of your leads from it) +1 In my experience they hate when you ask how they arrived at the valuation when the house just down the street sold for 20% less 6 months ago......... Quote Link to comment Share on other sites More sharing options...
mattyboy1973 Posted October 21, 2015 Share Posted October 21, 2015 +1 In my experience they hate when you ask how they arrived at the valuation when the house just down the street sold for 20% less 6 months ago......... I think this is pretty simple actually - "price of last similar house sold, plus 20%" seems to the the standard valuation model nation wide (It is a highly skilled profession though!). Quote Link to comment Share on other sites More sharing options...
spunko2010 Posted October 21, 2015 Share Posted October 21, 2015 The ability to walk round a house and pick a number out of thin air isn't really a skill. The skill is getting the greedy seller to believe in what you're telling them. Quote Link to comment Share on other sites More sharing options...
Fretful Mother Posted October 21, 2015 Share Posted October 21, 2015 Maybe it's years of hpi that has rendered both buyers and estate agents utterly unable to haggle. Buyers are too weak-minded on low interest rates and estate agents seem to genuinely believe an asking price is something real and tangible rather than a dreamed-up, out of reach fiction. After thorough research and due dilligence and starting with an offer of 11% under which was rejected we just offered 6% under asking on a house (to live in) and the estate agent said "no, that's not enough". End of conversation. Craptacular negotiating skills. No sale. As a wise person on this forum's wise father said (apparently) "if you're not thoroughly embarrassed by your offer then you've offered too much. Are the Shires crashing? ...This one's teetering, I'd say. Quote Link to comment Share on other sites More sharing options...
spunko2010 Posted October 21, 2015 Share Posted October 21, 2015 Another one: http://www.rightmove.co.uk/property-for-sale/property-55549946.html?premiumA=truesold for £400k in December (it does have the low-level extension thing added, which doesn't look great but how much did that cost? £20k?). Quote Link to comment Share on other sites More sharing options...
pipllman Posted October 21, 2015 Share Posted October 21, 2015 Another one: http://www.rightmove.co.uk/property-for-sale/property-55549946.html?premiumA=truesold for £400k in December (it does have the low-level extension thing added, which doesn't look great but how much did that cost? £20k?). can you come and build me some extensions please Quote Link to comment Share on other sites More sharing options...
abhisSSL Posted October 21, 2015 Share Posted October 21, 2015 The ability to walk round a house and pick a number out of thin air isn't really a skill. The skill is getting the greedy seller to believe in what you're telling them. Quote Link to comment Share on other sites More sharing options...
abhisSSL Posted October 21, 2015 Share Posted October 21, 2015 Even bigger skill is to get a naive buyer to pay what the greedy seller is asking, that is where they earn their money Quote Link to comment Share on other sites More sharing options...
spunko2010 Posted October 21, 2015 Share Posted October 21, 2015 can you come and build me some extensions please You could easily have that done for £20k even down here in the Home Counties. My neighbour had a similar one built including a decent kitchen for £25k. Quote Link to comment Share on other sites More sharing options...
cock-eyed octopus Posted October 21, 2015 Share Posted October 21, 2015 Even bigger skill is to get a naive buyer to pay what the greedy seller is asking, that is where they earn their money I suspect their plan is to get as many houses on the books as possible. The obvious way to do this is to tell prospective vendors their house is worth more than any other agents. When it doesn't sell, they explain to the vendor that the market has softened & perhaps they should think about dropping the price a touch? ... I also think the market is distorted by the sheer amount of dross in it - or rather because of the few houses worth having being in short supply. We got spooked by a cottage we lost, because it went over asking even though we offered full asking within hours of it coming on. But everything we've seen since has been way overpriced ( I reckon) - & the one we wanted was all the money. Looked at a thatched cottage which was nice, but stupid money & with too many probs. Turned out the owners had lived there 2 years & paid 75% ish of the asking now (i.e gone up by 30-odd% in 2 years!). In fairness they were sceptical, but were told by 2 other agents it was worth even more, & you can't really blame them considering they went for a lower estimate. The only offer they'd had was 5% above their purchase price. Strangely, another local period cottage didn't sell for £375k in 2008, now up for £385k & still not selling. People are piling into the market because they see (or think they can see) an opportunity to offload the heap of junk they've had to put up with. It ain't happening. All be over by Christmas I reckon. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted October 21, 2015 Author Share Posted October 21, 2015 I suspect their plan is to get as many houses on the books as possible. The obvious way to do this is to tell prospective vendors their house is worth more than any other agents. that's exactly what one agent told me was happening. agents are desperate for stock and, they said and I quote, "agents are overpricing by up to 200k just to get stuff on their books". then went on to say some idiots were buying and they couldn't believe it. also said it was going to crash and did a big swoop action with his hand. caveat emptor Quote Link to comment Share on other sites More sharing options...
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