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Freki

RICS April 2019

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This one seems to have flown under our radars.

https://www.rics.org/uk/news-insight/research/market-surveys/uk-residential-market-survey/april-2019/

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Headlines

  • Buyer enquiries and sales still negative as new listings of homes for sale continues to decline
  • Respondents concerned that proposed changes to s21 will mean more landlords exiting market
  • Asking prices perhaps now more realistic with 62% of survey participants report sales prices have been at least level with asking

 

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Although there are signs of greater realism on pricing from vendors, there is little conviction in the feedback from respondents to the survey that activity in the housing market will pick-up anytime soon.

 

 

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Hopefully the momentum continues, downward of course.

From my own perspective (potential buyer, but not at these prices) there are some welcome things happening at the moment, such as asking prices of flats in the same block now under that of 2018. With perhaps the final selling price at another 5-10% under this, this might produce lower and lower lows by the time the results feed through.

With no more props we could get a situation where the masses do realise that the last price run resulted in unsustainable prices and things will be lower in future.

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Hmm, I know the RICS is retrospective, but unfortunately a lot of the houses I've been keeping an eye at in my local area, which were previously sticking for ages, have gone SSTC.

I dont know what they actually sell for, but at least two were advertised for more than the ceiling price (which is totally mental), but they've also gone SSTC 

In Bromley/Orpington in SE London/Kent.

I'm hoping that it's not the beginning of something and just a bit of a spring/summer bounce, but who knows with these crazy people paying these prices.

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1 hour ago, Henrik said:

Hmm, I know the RICS is retrospective, but unfortunately a lot of the houses I've been keeping an eye at in my local area, which were previously sticking for ages, have gone SSTC.

I dont know what they actually sell for, but at least two were advertised for more than the ceiling price (which is totally mental), but they've also gone SSTC 

I noticed something similar in my Bucks/Beds a couple of months ago. The people who were desperate to buy for the new school year bought. Since then nothing and the pile of unsold properties is growing every week.

Seeing the occasional "offers invited" now and the odd almost reasonably priced one. 

Think the Spring bounce has come and gone. Can't see any sight of a Summer one yet..

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12 hours ago, Henrik said:

Hmm, I know the RICS is retrospective, but unfortunately a lot of the houses I've been keeping an eye at in my local area, which were previously sticking for ages, have gone SSTC.

I dont know what they actually sell for, but at least two were advertised for more than the ceiling price (which is totally mental), but they've also gone SSTC 

In Bromley/Orpington in SE London/Kent.

I'm hoping that it's not the beginning of something and just a bit of a spring/summer bounce, but who knows with these crazy people paying these prices.

Same here, Maidstone. I cant get my head around it /\_@_/\

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On 16/05/2019 at 09:26, Freki said:

This one seems to have flown under our radars.

https://www.rics.org/uk/news-insight/research/market-surveys/uk-residential-market-survey/april-2019/

 

Quote

Although there are signs of greater realism on pricing from vendors, there is little conviction in the feedback from respondents to the survey that activity in the housing market will pick-up anytime soon.

 

Aha, but we want loads of activity (transactions) - as long as they are are realistic, and lower, prices.

 

 

Edited by mrtickle

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  • 309 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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