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Jitters

No Onward Chain And Multiple Agents Seeling Properties

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I'm a FTB new to the market and have recently walked away from a property that needed work and the vendor wouldn't drop.

I have been looking at the market for the past year or so but not in great detail until lately. I've asked about a few properties and have been told "the chain broke" or "they couldn't afford it".

One thing I am noticing is that about 70% of the properties for sale state "no onward chain", quite a few keep coming back on the market and quite a few have multiple agents selling them. House prices have risen in this area (SE19 SE London). There are also a great number of boards saying "to let" also.

Almost daily there are leaflets posted through our door by EAs wanting to sell your property for you.

I was wondering in people's opinion what does all this indicate. Is the housing market here healthy or unhealthy.

Ta in advance.

Edited by Jitters

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I'm a FTB new to the market and have recently walked away from a property that needed work and the vendor wouldn't drop.

I have been looking at the market for the past year or so but not in great detail until lately. I've asked about a few properties and have been told "the chain broke" or "they couldn't afford it".

One thing I am noticing is that about 70% of the properties for sale state "no onward chain", quite a few keep coming back on the market and quite a few have multiple agents selling them. House prices have risen in this area (SE19 SE London). There are also a great number of boards saying "to let" also.

Almost daily there are leaflets posted through our door by EAs wanting to sell your property for you.

I was wondering in people's opinion what does all this indicate. Is the housing market here healthy or unhealthy.

Ta in advance.

When you instruct an agent to sell your house you give him exclusive selling rights for a period of time, ofern 3 months. Having 2 agents therefore implies that the property has not sold during the first agents exclusive period, ie. they have mis-marketed it. Quite often you see two agents boards but both asking the same price - as if a few new words and pictures will suddenly shift it - could it be that punters actually object to the price

"No onward chain" implies either that it is an investment property currently empty or let, or that the seller is happy to go into rented.

Agents posting leaflets though your door implies that they are not achieving enough sales. Even if they have a lot of property on their books, if it does not sell (because vendors wont shift on price) then the agent is not making any money. If property is flying off the shelves then he would have no need to go touting.

If you believe prices just keep rising in SE19 then do tell the former owner of 1, Telford Close, Croydon who has managed to lose £7K as well as all his costs over 3 years.

http://www.houseprices.co.uk/e.php?q=se19+...on+telford&n=50

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Thanks for the reply, funnily enough the property we walked away from is on the same site round the corner.

To be honest my uneducated opinion is that things are not as rosy as they seem. Was just looking for confirmation from evidence given.

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NuLabour cannot afford a HPC. The entire economy stands or falls on HPI and the ability to MEW. The HPC was about to happen last year and Gordon dropped IR by .25% with the result that 60 billion pounds of additional debt was accumulated. Personal debt now stands at 1.2 trillion. IR cannot go up and they cannot go down because either way NULabour's MIracle Economy collapses. THe best way for them to stall the crash is to do nothing which is precisley what they are doing. The problme is that house prices ARE falling in many regions as shown by the ODPM's statistics which are based on actual sales--they are reality.

The pounbd is soaring against the dollar and our fragile exports are about to become broken. Car manufacturing is not viable in a country with a high valued currency because it makes pricing uncompetitive. The outsourcing in service industy jobs are going for the same reason.

We are seeing a huge increase in "no upward chain" sales in the West Midlands and it is not as healthy sign for the house market. WE are now facing a sterling crisis and a HPC all rolled into one.

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The no onward chain maybe because of these part exchange deals which builders such as barratt offer, to help people move into their new build properties.

As a business you wouldn't want to take on take more hassle than is necessary to secure a deal, so this maybe a sign of the market slowing.

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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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