VeryMeanReversion Posted August 29, 2017 Share Posted August 29, 2017 Saw this post from an EA on pistonheads forum that you may all enjoy.... BTL down 95% What is the definition of a "crash"? I can easily see a 15-20% reduction coming our way.While there isn't one factor that screams crash at the moment, I think there is a melting pot of smaller factors that combined are causing real problems in the market. As some headline points from my office - these are guesstimates (pretty accurate) as I can't be bothered to run the reports right now...- 40% down in transactions (although we have increased market share)- 50% down in buyer registrations- 20% down in instructions- Must be 100%+ increase in the number price reductions- Sales agreed prices vs asking prices as wide as they have ever been and getting worse- Fall throughs up over 100%- Buy to let purchases down 95%- Lenders down valuing more often and tightening lendingI think the statistics take a little longer to be reported in the media, maybe 3-6 months. But as a real time snapshot on performance vs 2016 that is where we are. Speaking to all the other agents in town, off the record, they all say the market is f*cked. Every single one of them! Quote Link to comment Share on other sites More sharing options...
dougless Posted August 29, 2017 Share Posted August 29, 2017 Thanks for that. Do you know where they are based? Quote Link to comment Share on other sites More sharing options...
VeryMeanReversion Posted August 29, 2017 Author Share Posted August 29, 2017 5 minutes ago, dougless said: Thanks for that. Do you know where they are based? Oxon, Oxfordshire. Quote Link to comment Share on other sites More sharing options...
dougless Posted August 29, 2017 Share Posted August 29, 2017 Even better news. I am not an EA but its looking very shaky in the greater Reading area (and spilling out into Oxfordshire) at the moment. Properties are hanging around and then sitting with Sold Subject to Contract signs on for months. I haven't felt this optimistic about some realism returning to house prices for several years. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted August 29, 2017 Share Posted August 29, 2017 I'm thinking of training to become an estate agent !!! Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted August 29, 2017 Share Posted August 29, 2017 I've now completed my training. Quote Link to comment Share on other sites More sharing options...
MattW Posted August 29, 2017 Share Posted August 29, 2017 5 minutes ago, TheCountOfNowhere said: I've now completed my training. Very good! I did my school work experience in an Estate Agents in 1993 (aged 15) back when houses were mostly marketed for about £50-60k in Norfolk. Aside from go out on visits with the chief EA (an arrogant dick, quelle surprise) they had me type up letters on a word processor and make the hot drinks. Quote Link to comment Share on other sites More sharing options...
RentingForever Posted August 29, 2017 Share Posted August 29, 2017 17 minutes ago, TheCountOfNowhere said: I've now completed my training. You're now over-qualified. Quote Link to comment Share on other sites More sharing options...
Option5 Posted August 29, 2017 Share Posted August 29, 2017 25 minutes ago, TheCountOfNowhere said: I've now completed my training. Nothing to brag about Quote Link to comment Share on other sites More sharing options...
AdamoMucci Posted August 29, 2017 Share Posted August 29, 2017 41 minutes ago, TheCountOfNowhere said: I'm thinking of training to become an estate agent !!! 40 minutes ago, TheCountOfNowhere said: I've now completed my training. Actually laughed out loud. Quote Link to comment Share on other sites More sharing options...
DrMartinSanchez Posted August 29, 2017 Share Posted August 29, 2017 48 minutes ago, TheCountOfNowhere said: I've now completed my training. Did you learn how to apply hair gel? Quote Link to comment Share on other sites More sharing options...
TiredOfMagnolia Posted August 29, 2017 Share Posted August 29, 2017 2 hours ago, AdamoMucci said: Actually laughed out loud. Me too, really cracked me up that did!! :-) Quote Link to comment Share on other sites More sharing options...
AdamoMucci Posted August 29, 2017 Share Posted August 29, 2017 And at the time there was one minute between posts. LOL. Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.