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Sausage

Supply and demand

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Do we have any reliable stats on supply of houses? I'm thinking volume of listings on Rightmove? The ASPC listings volume works very well as a leading indicator for Aberdeen on that thread.

 

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5 minutes ago, Sausage said:

Do we have any reliable stats on supply of houses? I'm thinking volume of listings on Rightmove? The ASPC listings volume works very well as a leading indicator for Aberdeen on that thread.

 

Define supply.

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2 hours ago, Sausage said:

Do we have any reliable stats on supply of houses? I'm thinking volume of listings on Rightmove? The ASPC listings volume works very well as a leading indicator for Aberdeen on that thread.

 

But Rightmove lists houses which are empty and ones which will be part of a chain.  Only the empty ones add to the amount of supply.

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2 hours ago, Si1 said:

Define supply.

Quite, many on rightmove are not supply or at least are unrealistically priced and will be removed from rightmove before a clearing price is met. Listing a house 25% overpriced, then knocking 10% off then removing it from rightmove because it didn't sell means it wasn't really supply for the entirety of its rightmove life.

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it's only supply if it is for sale. I could but my car on autotrader for a million and because of my unrealistic expectations it sits outside of the market. It will never sell the advert might as well not be there. A seller who refuses to entertain a market price refuses to act in the market and therefor cannot be adding supply.

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22 minutes ago, Pebbles said:

it's only supply if it is for sale. I could but my car on autotrader for a million and because of my unrealistic expectations it sits outside of the market. It will never sell the advert might as well not be there. A seller who refuses to entertain a market price refuses to act in the market and therefor cannot be adding supply.

I agree and would say it is only supply if actively marketed and priced to sell.  I think there is sometimes confusion around empty houses and bogus attempts to sell being conflated with supply.

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29 minutes ago, Pebbles said:

it's only supply if it is for sale. I could but my car on autotrader for a million and because of my unrealistic expectations it sits outside of the market. It will never sell the advert might as well not be there. A seller who refuses to entertain a market price refuses to act in the market and therefor cannot be adding supply.

It isn't until it is.

The point is, it exists. 

For the purposes of supply, there is a difference between 1000 houses owned by people with no particular desire to sell and 1000 houses which haven't been built yet.

This is a big problem in economics; you can never have anything close to complete information.

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  • 142 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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