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karhu

Stock Numbers Up Massively In Last Week

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... in number of properties for sale. Virtually nothing selling.

In the area I'm watching I've seen stock numbers increase by 50% in the last week!! In that time about 1% of properties have sold STC.

Also, I see a lot of properties staying sold STC for long periods of time, but nobody moving in. Is this due to chains falling through or banks turning down mortgage applications?

Supply up massively and demand down due to high asking prices is a recipe for house price instability.

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Yes same around here.

Use Rightmove to find out how many properties have been added in your area + half mile in the last 24 hours. I am up to 57 today.

My perception of what is happening is that during January STRs and FTBs, panicked by media predictions of IR cuts and an upturn, returned to the market and bought up anything half way reasonable that hadn't sold in 2005.

Now the new property flood gates are open and hundreds of would be sellers are having a go, many at ridiculously high asking prices. But how many buyers are left who don't need to sell something first? Not so many I think and those of us left are realising that there will be no IR cuts but instead an excess of supply. So the Spring bounce will be over before Winter has finished and I'll still be having a go at buying but only if the deal is good. With a little luck I'll soon be in a position to start playing off one seller against another and get myself a real bargain.

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Yes same around here.

Use Rightmove to find out how many properties have been added in your area + half mile in the last 24 hours. I am up to 57 today.

Take the new numbers with a pinch of salt.

I am constantly seeing existing properties relisted almost weekly.

Sometimes the same property with the same EA and sometimes with another.

In conclusion there are the same old properties being listed again and again as new properties.

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Guest Winners and Losers

Shall we see if my prediction of spring bounce = oversupply comes to fruition???

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Take the new numbers with a pinch of salt.

I am constantly seeing existing properties relisted almost weekly.

Sometimes the same property with the same EA and sometimes with another.

In conclusion there are the same old properties being listed again and again as new properties.

This is not possible using the searches that I'm using. They may be listed with other estate agents, but they are genuinely new listings with the EAs that I'm looking at.

in the last 24 hours. I am up to 57 today.

Yes, I've seen the same phenomenum; it is incredible. I haven't seen anything like this recently.

Something seems to have started happening within the last few days, but I didn't want to report that originally as I felt people may suggest that I was exaggerating.

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I'll still be having a go at buying but only if the deal is good. With a little luck I'll soon be in a position to start playing off one seller against another and get myself a real bargain.

Yes, it's time to start testing the water.

I'm going to be looking for 40% off asking price, minimum. No chain and cash.

Edited by karhu

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This is not possible using the searches that I'm using. They may be listed with other estate agents, but they are genuinely new listings with the EAs that I'm looking at.

Yes, I've seen the same phenomenum; it is incredible. I haven't seen anything like this recently.

Something seems to have started happening within the last few days, but I didn't want to report that originally as I felt people may suggest that I was exaggerating.

Maybe it is to do with the area your are looking at?

I agree though there is evidence of more and more properties being added (albeit slowly in my area).

It should make things interesting over the next few months...

I can't see logically how the Rightmove average asking price is rising - from searches it just doesn't look right to me.

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... in number of properties for sale. Virtually nothing selling.

In the area I'm watching I've seen stock numbers increase by 50% in the last week!! In that time about 1% of properties have sold STC.

Also, I see a lot of properties staying sold STC for long periods of time, but nobody moving in. Is this due to chains falling through or banks turning down mortgage applications?

Supply up massively and demand down due to high asking prices is a recipe for house price instability.

Rightmove

Yeh! same here. I've just had a look and there's 97 on in my area today?????

Usually 20-30 max.

Mostly same old properties readverised, only a fe new ones, what are they up to ?

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This figure has changed, not sure what the previous one was.

http://www.rightmove.co.uk/

Over 633,000 houses and flats for sale or for rent in the UK

I think it was 628,000 before!!??

Edit: Just noticed that it is my 1 year anniversary on this board and about the time I decided to STR :)

Edited by Shamus

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Where are you people , sadly my area (south west) numbers of properties for sale have dropped 50% since October. that's with a search criteria plus 5 miles

Rightmove type in Conwy (county of) North Wales

Check it out 97 today !!!! Most unusual..

Edited by BubblesBurst

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Guest Winners and Losers

The numbers where I am looking, SW16, keep going up and up (property for sale that is). Could this also mean that less are selling? Have jumped up considerably in the last week compared with last couple of months.

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Hate to be repetitive but we should all be aware that in most cases someone selling a house is also looking to buy a house. So it may be somewhat self-deluding to conclude straight away that we are seeing a 'flood' of properties.

I also wonder if the advent of the Homebuyer's pack is having an effect with people wanting to sell before they come into force to save themselves some hassle and cost?

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Guest Winners and Losers

Hate to be repetitive but we should all be aware that in most cases someone selling a house is also looking to buy a house. So it may be somewhat self-deluding to conclude straight away that we are seeing a 'flood' of properties.

I also wonder if the advent of the Homebuyer's pack is having an effect with people wanting to sell before they come into force to save themselves some hassle and cost?

Tell them that in Australia, it did not stop the market correcting, sharply.

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Where are you people , sadly my area (south west) numbers of properties for sale have dropped 50% since October. that's with a search criteria plus 5 miles

I've been monitoring the GSPC website (Glasgow Solictors Property Centre) since the start of the year.

Properties on offer 01/01/2006 - 1643

Properties on offer 19/02/2006 - 1855

Properties on offer today - 1883

Not a massive jump, but evidence IMO that there has been a spring bounce in supply in central Scotland also.

NDL

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Rightmove type in Conwy (county of) North Wales

Check it out 97 today !!!! Most unusual..

Bournemouth + 3 miles around = 134 in last 24 hours

Bristol + 3 miles around = 204 in last 24 hours

This looks quite high. The big question is what number are being sold each day??

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Yes same around here.

Use Rightmove to find out how many properties have been added in your area + half mile in the last 24 hours. I am up to 57 today.

My perception of what is happening is that during January STRs and FTBs, panicked by media predictions of IR cuts and an upturn, returned to the market and bought up anything half way reasonable that hadn't sold in 2005.

Now the new property flood gates are open and hundreds of would be sellers are having a go, many at ridiculously high asking prices. But how many buyers are left who don't need to sell something first? Not so many I think and those of us left are realising that there will be no IR cuts but instead an excess of supply. So the Spring bounce will be over before Winter has finished and I'll still be having a go at buying but only if the deal is good. With a little luck I'll soon be in a position to start playing off one seller against another and get myself a real bargain.

I did a search on Brum and it returned too many to list

I also found this beauty. Who in their right mind would pay real Earth money for this??? http://www.rightmove.co.uk/viewdetails-111...pa_n=2&tr_t=buy

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Hate to be repetitive but we should all be aware that in most cases someone selling a house is also looking to buy a house. So it may be somewhat self-deluding to conclude straight away that we are seeing a 'flood' of properties.

I also wonder if the advent of the Homebuyer's pack is having an effect with people wanting to sell before they come into force to save themselves some hassle and cost?

But with record low numbers of first time buyers who's going to buy at the bottom?

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Hate to be repetitive but we should all be aware that in most cases someone selling a house is also looking to buy a house. So it may be somewhat self-deluding to conclude straight away that we are seeing a 'flood' of properties.

With record numbers of people buying second homes in the last few years, I guess you have a point :P

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  • 301 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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