Timm Posted October 5, 2022 Share Posted October 5, 2022 Anybody else fancy keeping an eye on this? I've been doing a daily search for new instructions (including price reductions) within a 5 mile radius on rightmove for years. Over the last year, I might be lucky to see more than 10 in any given 3 day period (That's the 3 day filter in RM that I use to make sure I don't miss anything). Now I am seeing 30+ Today: New instructions (including price reductions): 32 Total available in same search area: 312. Quote Link to comment Share on other sites More sharing options...
Dames Posted October 5, 2022 Share Posted October 5, 2022 3 mile radius. Up 16 in 3 days , reductions and what looks like relists. Can't be sure until i turn om my pc* but certainly looks lime things are warming up. * Can't get property bee thing on android. D Quote Link to comment Share on other sites More sharing options...
Who am I? Posted October 5, 2022 Share Posted October 5, 2022 I used to do this and had several years of data. I gave up when COVID pushed house prices up another 20 or 30 percent. My plan became to buy a houseboat when I retire. Apparently someone on 100k is supposed to retire into a houseboat. No. I'm not bitter at all. ******ing disgrace of a country. Looks like things might be about to improve though. I no longer have all the stats, but I'm not seeing a great deal of change where I am at the moment. There are a few more properties on. Hopefully the number available will continue to rise, from almost nothing. Around 250 at the moment. Used to be 7 or 8 hundred a few years ago. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted October 5, 2022 Share Posted October 5, 2022 36 minutes ago, Timm said: Anybody else fancy keeping an eye on this? I've been doing a daily search for new instructions (including price reductions) within a 5 mile radius on rightmove for years. Over the last year, I might be lucky to see more than 10 in any given 3 day period (That's the 3 day filter in RM that I use to make sure I don't miss anything). Now I am seeing 30+ Today: New instructions (including price reductions): 32 Total available in same search area: 312. Quote Link to comment Share on other sites More sharing options...
BaldED Posted October 5, 2022 Share Posted October 5, 2022 Seeing probably about 50% of listings reduced, panic selling listings thinking they have missed out so trying to get rid. Unfortunately the listings are still mediocre dross that no-one is going to buy even at 30% reduction. Quote Link to comment Share on other sites More sharing options...
doomed Posted October 5, 2022 Share Posted October 5, 2022 1 hour ago, Timm said: Anybody else fancy keeping an eye on this? I've been doing a daily search for new instructions (including price reductions) within a 5 mile radius on rightmove for years. Over the last year, I might be lucky to see more than 10 in any given 3 day period (That's the 3 day filter in RM that I use to make sure I don't miss anything). Now I am seeing 30+ Today: New instructions (including price reductions): 32 Total available in same search area: 312. I do the same and there are definitely more coming on, mainly at lower end. I am also seeing reductions at the top end but from absolutely mental prices vs even a couple of years ago. Quote Link to comment Share on other sites More sharing options...
Timm Posted October 13, 2022 Author Share Posted October 13, 2022 On 05/10/2022 at 10:50, Timm said: (...) Today: New instructions (including price reductions): 32 Total available in same search area: 312. Today: New instructions (including price reductions): 30 Total available in same search area: 331. Quote Link to comment Share on other sites More sharing options...
Smiley George Posted October 13, 2022 Share Posted October 13, 2022 1 minute ago, Timm said: Today: New instructions (including price reductions): 30 Total available in same search area: 331. tick tock just takes a couple of buyers to cave and accept those lower offers and off we go, new prices are set and so on. Quote Link to comment Share on other sites More sharing options...
Timm Posted October 20, 2022 Author Share Posted October 20, 2022 On 13/10/2022 at 09:16, Timm said: Today: New instructions (including price reductions): 30 Total available in same search area: 331. Today: New instructions (including price reductions): 35 Total available in same search area: 335. Quote Link to comment Share on other sites More sharing options...
bearishonhouses Posted October 20, 2022 Share Posted October 20, 2022 Pick an area, and ask what proportion of the new-within-7-days listings are actually price reductions rather than real new listings. In some of the area I follow and get emails about, it is now typically between 4 and 7 out of about 14 - so 30% to 50%. Quote Link to comment Share on other sites More sharing options...
petetong Posted October 20, 2022 Share Posted October 20, 2022 I'am still just seeing lots ridiculously priced properties, a few with a £10 to £25K reduction which is sod all for the asking price, when they need 50% off minimum, which have been on for months. Quote Link to comment Share on other sites More sharing options...
DarkHorseWaits-NoMore Posted October 20, 2022 Share Posted October 20, 2022 (edited) EA told me 'its back to the old normal for this time of year' where the agent has to chase up buyers. Not like last spring where buyers were bidding up each other in a frenzy, often over asking price (west Wales 2021/22 HPI +20%). Soon there will be a Mexican stand off, then comes the flood of distress, whoosh. I believe that next spring will be epic and dramatic! They just don't know it yet. Edited October 20, 2022 by DarkHorseWaits-NoMore add detail Quote Link to comment Share on other sites More sharing options...
Mixle Posted October 20, 2022 Share Posted October 20, 2022 Quote Link to comment Share on other sites More sharing options...
HousePriceTooHigh Posted October 20, 2022 Share Posted October 20, 2022 Lots of panic amongst sellers Wanting to dump and run Quote Link to comment Share on other sites More sharing options...
Flopsy Posted October 20, 2022 Share Posted October 20, 2022 (edited) Unusual day today. Typical pattern is for reductions on the Monday and Tuesday of the week then new instructions for the rest of the week. Had a look at lunchtime and the only reduction was a flat. Now it's 18 reductions and 21 new instructions. The reductions include 3, 4 bedroom houses. I've not included new builds advertised by the developer in these figures. (this is in Buckinghamshire) Edited October 20, 2022 by Flopsy miscounted Quote Link to comment Share on other sites More sharing options...
highcontrast Posted October 21, 2022 Share Posted October 21, 2022 (edited) A copy and paste from the folliwing thread: "P.s. can confirm my usual Rightmove search criteria today is the highest it's been since I've been looking...242 houses (3 bed, £290 or under, 5 mile radius). In the dark days, late 2020, and most of 2021 it was as low as 70-80 houses." Well today just hit 250 houses!!! That's over a 200% (approx.) increase in volume from the very lows!!! Edited October 21, 2022 by highcontrast Quote Link to comment Share on other sites More sharing options...
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