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TheCountOfNowhere

Are The Shires Crashing ?

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I don't have property bee installed so I don't know the exact figures but rightmove status shows 'reduced Today', 'reduced Yesterday', 'reduced <date>'. Some of them going Under Offer and then delisted for a new reduced price. I used following search criteria:

1. Post Codes along cross rail

SL1(Slough and neighbouring,

SL3(Langley and Colnbrook possibly Datchet)

SL6(Maidenhead+surroundings and Taplow)

RG1 and RG6(fringes)

2. Minimum bedrooms 2

3. Houses only, not flats

4. Maximum Price £400K, anything above that is not of FTB interest. Even this assumes a household income of £80K and 10% deposit of £40K.

Here are some links -

1. SL1 :

http://www.rightmove.co.uk/property-for-sale/property-57186020.html

http://www.rightmove.co.uk/property-for-sale/property-58469144.html

2. SL3

http://www.rightmove.co.uk/property-for-sale/property-53436178.html

I looked at the previous sold prices but quickly gave up.

The two of those three that had a previous sold price are 100% since 2007 and 50% up since 2012.

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I looked at the previous sold prices but quickly gave up.

The two of those three that had a previous sold price are 100% since 2007 and 50% up since 2012.

To be fair these postcodes started warming up to HTB since summer 2014. Also, they may not have had significant falls after 2007. 2013 prices may be a good reference point to begin with.

They probably peaked around Feb/March 2016.

Edited by Fairyland

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Mobile browsers don't support plugins except Firefox but they only have like 0.5pc of the market on mobile.

An app wouldn't work either unless you incorporate a browser into it.

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I had a look though all the RM listings for Northants/West mids now that PB is working again. ( above about 300 K )

First thing to notice is the prices are insane ( as usual ). It's 2007+50% on average now.

I get the feeling the market is softening now. Lots of desperate looking sellers. A few that have been up for a year+ already.

Stuff that would have sold for half the amount 3 years ago listed.

Lots of 10/20K drops and a few sales falling thpugh now.

The occasional BIG drop.

Thing I noticed most of all was it looks like there are no end of properties for sale now, all dross, but more than i was seeing last year. Supply up...Demand none.

Edited by TheCountOfNowhere

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Tunbridge Wells is probably the most overrated town in the UK. 90% of it is undesirable, the 'nice' 10% parts in the middle are fine if you don't mind queuing in traffic whenever you want to leave your house. I've never understood its appeal - Sevenoaks is much nicer (and just as expensive)

Edited by spunko2010

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I'm seeing a steady supply of new 3 bed houses hitting the market in my search area. Lots of new listings getting reduced within a few weeks or even days. This looks like people who need to sell, rather than the usual kite fliers. Interestingly too I'm seeing almost identical properties priced at £200k and £290k... The kite fliers will either need to drop their price or give up.

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Updated including last week (Exeter price range £300-650K, weekly new listings/new reductions):

23/5: 6/3

30/5: 6/3

6/6: 12/1

13/6: 10/2

20/6: 5/2

--brexit vote--

27/6: 21/7

4/7: 15/6

11/7: 14/4

18/7: 10/8

25/7: 10/4

1/8: 13/4

8/8: 10/3

15/8: 9/5

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Definitely seeing drops here too after only a few days in some cases. Can't find the link but one dropped after 5 days on the market - presumably no interest at all... bit of a shock to the vendor I suspect!

Here's another one (higher end)

http://www.rightmove.co.uk/property-for-sale/property-42496956.html

Odd, my inlaws told me at the weekend their friends had to take their BIG house off the market after 6 months and 0 viewings.

They blamed HS2.

I said nowt.

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Odd, my inlaws told me at the weekend their friends had to take their BIG house off the market after 6 months and 0 viewings.

They blamed HS2.

I said nowt.

Indeed... If people won't pay my asking price (which is the true value, set in stone, like it or lump it).... Then they're either poor or stupid or both. I'd rather stay put than let an ignorant chav live in my mock Tudor forever home. Their loss not mine.

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Literally zero viewings? You'd think they'd get the message :o

It seems not.

Also, a house my wife and I viewed, been up for sale for 2 years now, fell through a week ago after being "SOLD" for 6 months.

All anecdotal.

All true.

The insane prices are causing the bubble to eat itself, unless you are supported by the London mega bubble of course.

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I search in an area supported by the london megabubble - east london borders, epping/loughton kind of area. Prime area for Zone 1/2 madgainz emigration

I sometimes have a look at sold stc vs total stock as a rough guide for how hot the market is. I use the same postcode with similar parameters, just varying the min and max price to look at different segments.

My most common search is 3 bed up to 400k. In 2008-10 it was usually about 20-25% of stock sold stc. 2010-12 ot went up taround 35% on average. Then over last couple of years it rocketed and was often 60-70%.

Lately this has fallen rapidly and is now 35% again, falling each time ive looked (3 or 4 times in 6 mths).

As prices have got so expensive here, volumes in the search category have fallen. So i started another search, cm16 postcode, 3 bed and over, 500-800k. This has mich higher volumes - usually 100 plus. It was also averaging 60% plus 2013-2015 and has now fallen sharply, 25% today on total volume 128 properties.

Hardly science but gives some insight into supply vs demand and direction of travel in an area that was sent truly mental by the disgusting 2013-2015 echo boom

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It seems not.

Also, a house my wife and I viewed, been up for sale for 2 years now, fell through a week ago after being "SOLD" for 6 months.

All anecdotal.

All true.

The insane prices are causing the bubble to eat itself, unless you are supported by the London mega bubble of course.

the two properties in Sussex I am watching are unsold, non STC, for five months now.

bubbletastic.

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the two properties in Sussex I am watching are unsold, non STC, for five months now.

bubbletastic.

I watched some properties sit unsold for 2,3,4,5 years after 2007.

The same properties woul;d not be priced at 2007+20%.

Not sure who's going to buy them now...

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5 new reductions in my search area today (151 properties total). Every little helps.

Are you sure there aren't more stealth relists? I'm seeing loads of relists, seems to be the thing now, if you can't sell it stick it on with another agent, just whatever you do DON'T reduce the price.

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Are you sure there aren't more stealth relists? I'm seeing loads of relists, seems to be the thing now, if you can't sell it stick it on with another agent, just whatever you do DON'T reduce the price.

Wasnt that made illegal ?

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:lol:

Is the police turning a blind eye to crime, not aiding and abetting criminals ?

Some of those sellers may be coppers, you never know

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Just seen a house similar to one I viewed in Northampton in Sept 2007 when the asking price was £320K

Eventually sold for £290k..

Just listed for £490K

The lunacy is there for all to see

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Also, does anyone know WTF this is.

http://www.rightmove.co.uk/property-for-sale/property-61794650.html

Art Deco is one thing, but that's an eyesore. The last photo says 'receivers' I wonder what the backstory is.

Edit: Okay, I win the prize of finding the biggest drop this week.

http://www.wowhaus.co.uk/2013/10/28/on-the-market-1930s-grade-ii-listed-the-lime-works-six-bedroom-house-in-norton-kent/

From £3.75m to £0.75m in 3 years.

Edited by spunko2010

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  • 399 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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