Boxing Day listing spike?

[highcontrast]

I think there was another post/thread about this? But on Rightmove my search criteria has gone from 290 to 304 overnight.

Whilst it might not seem a lot, from my continuous monitoring of this it's a big (relatively speaking) jump.

Did someone mention this is normal? I.e. they save the listings for boxing Day?

Either way I think this is the highest number of listings for my criteria since monitoring. 

P.s. so much for no one wanting to sell over Christmas?

 

[mynamehere]

Literally one new listing in my search area today. 
 

I think it’s busy for page views. Not necessarily for listings. 
 

our agent advised not to sell over Christmas unless the house is entirely clutter free and Tidy. Which rules out us

[Orb]

3 listed in my search area, and it's not quite midday yet.

It's normally 1 or 2 per day. Most I've ever seen was 4. 

[Smith]

Loads of new listings today in my area. And seeing as all the local estate agents are closed today, my guess is these are people who signed up with agents in December but didn't want any viewings until after Christmas. Prices are definitely starting to look more sensible here, too.

[17clarence]

3 in my small search area. 2 are ‘failed’ flippers relisting from the summer. One is £110k more than last sold for, the other £200k more than March 2021. To be fair, looks like a full renovation.

[Brave New World]

It's not normal seeing the numbers land just pre and post Xmas as I've seen this year.

Whether there is more automation to listings landing as may well be but the early sounds of a 2023 stampede to exit as the year unwinds and realities land

[Fromage Frais]

Not wonderful here

Comedy overpriced > very overpriced.

Existing stock reduced rather than anything new.

Nothing shifting though but my usual thoughts are the ones you track are not the ones you buy.

The ones you buy will come on priced to sell and will get sold in a reasonable time... money of these current listings will be lifting about for many months yet cannot sell won't see etc etc

[Orb]

I just looked at Northampton... 4 1/2 pages of new listings and reductions TODAY!

The most I've ever seen is 2 pages in 1 day. 

 

EDIT: and that's excluding flats, land, and park homes. 

 

Edited December 26, 2022 by Orb

[MARTINX9]

10 minutes ago, Orb said:

I just looked at Northampton... 4 1/2 pages of new listings and reductions TODAY!

The most I've ever seen is 2 pages in 1 day. 

 

Boxing day sales - up to 30 per cent off?!

[highcontrast]

2 hours ago, Smith said:

Prices are definitely starting to look more sensible here, too.

This also I can concur, same here.

Edited December 26, 2022 by highcontrast

[Orb]

3 minutes ago, MARTINX9 said:

Boxing day sales - up to 30 per cent off?!

Ha, then of course there's the January sales to look forward to. 

Might be able to buy a house come February. 

[Dreamcasting]

 

[brush2805]

Boxing Day Sale.

[moonriver]

😮 I just did a search for listings added in 24 hours and it came up with 84! (South Wales area).

Never seen that many before, it is on average 4-8.

On looking at them, most are old listings with a small price reduction, along with a few new lsitings that are way overpriced.

 

[ftb_fml]

My RM results for the bottom end of Oxford have seen two new and two reduced properties; most of which appear to be touting auctions; for what that's worth. That's in a field that's currently around 100 properties.

FWIW there's little obvious in my sh*tty end of the Oxford market that reflects the wider situation; supply remains low-average and prices don't appear to have softened much / at all.. however I do think that stuff's maybe not selling as quickly as it was.

 

[TerryBoi]

1 hour ago, Orb said:

I just looked at Northampton... 4 1/2 pages of new listings and reductions TODAY!

The most I've ever seen is 2 pages in 1 day. 

 

EDIT: and that's excluding flats, land, and park homes. 

 

2 area's I'm watching for my clients are currently in meltdown; Northampton and Peterborough (I also monitor Leicester and a couple of smaller regions).

Both area's are sort of fashionable in the overseas investing community as potential sources of diversified/hedged alpha.

I don't agree with that assessment, but I have to go with what my clients are into.

Anyway ...

Today Northampton + 0.5 miles is 16 pages of listings with the first 1.5 pages being new adds/reductions from today.

Today Peterborough + 0.5 miles is 8 pages of listings with the first page being new adds/reductions from today.

Look at this map in RightMove:

https://www.rightmove.co.uk/property-for-sale/map.html?locationIdentifier=REGION^91638&minBedrooms=3&numberOfPropertiesPerPage=499&radius=0.25&sortType=6&propertyTypes=detached%2Csemi-detached&includeSSTC=false&viewType=MAP&mustHave=&dontShow=&furnishTypes=&keywords=

At one point in 2021 there were NO orange dots on that map.

I've been monitoring UK res + cre sectors for 10y, this volume is very unusual.

Something is breaking in the UK fast.

@TheCountOfNowhere called it first, but now the signs are growing everywhere.

 

[FivePoundLatte]

Yeah, I'm seeing a big spike in listings too - it's odd.

I wonder if EAs had been saving them up to post today, knowing that people vaguely look for properties from Boxing Day onwards?

[Plasmaz]

9 in my local search area today vs 1/day on average. I think less were happening just before christmas so makes sense there's a build up. Over next few weeks I'll see if new listings are truly increasing.

[Loving The Crash]

15 minutes ago, TerryBoi said:

2 area's I'm watching for my clients are currently in meltdown; Northampton and Peterborough (I also monitor Leicester and a couple of smaller regions).

Both area's are sort of fashionable in the overseas investing community as potential sources of diversified/hedged alpha.

I don't agree with that assessment, but I have to go with what my clients are into

 

 

TerryBoi,

May I ask what service/product you provide to your clients?

[TerryBoi]

21 minutes ago, Loving The Crash said:

TerryBoi,

May I ask what service/product you provide to your clients?

Wealth manager. Really more about wealth baby sitter. I have a bunch of clients thru a bank who pay me to find opportunities to diversify out of what originally made them rich (my specialty is mainly UK investments). I like to pretend its because of my finance background and sales skills. Unfortunately a lot of the time its just a rich dude who's been on a trip to London with his wife who is bored and now gets her panty's wet every time she see's Jamie Oliver on cable.

Edited December 26, 2022 by TerryBoi

[highcontrast]

Didn't Team HPI4EVA, and in particular @Stjames83say that homeowners simply wouldn't sell if prices were falling? I.e. supply would simply dry up?

Well it seems the exact opposite is happening? Did Team HPI4EVA and @Stjames83 get it wrong...again!?

[HousePriceTooHigh]

Had a quick look and yes plenty of "new" listings, the vast majority (80-90%+?) of which are reductions on overpriced rubbish that has sat on RM for months.

Edited December 26, 2022 by HousePriceTooHigh

[highcontrast]

18 minutes ago, highcontrast said:

Didn't Team HPI4EVA, and in particular @Stjames83say that homeowners simply wouldn't sell if prices were falling? I.e. supply would simply dry up?

Well it seems the exact opposite is happening? Did Team HPI4EVA and @Stjames83 get it wrong...again!?

I should add, the exodus by BTL scumbag parasites must be a significant reason for supply appearing to be increasing?

[godnose]

My search on Zoopla - central London, east London, zones 1, 2, 2 bedrooms, <£450,000 - saw 6 new properties listed on Boxing Day, which is fairly significant. All are at the cheaper end of London and much nicer than offerings from 6 months ago. Pleased to see.

[danlee74]

Lots added or reduced today in Bournemouth ... normally in the range of 200-230 per week, 122 now in the past 24 hours. Hopefully, some 2nd home / "holiday boltholes", BTL, and Airbnb's being offloaded so that the younger local workers can get a look in at lower prices.