StuB Posted May 31, 2007 Share Posted May 31, 2007 This is great, thanks. Link to comment Share on other sites More sharing options...
me me me Posted May 31, 2007 Share Posted May 31, 2007 Aberystwyth 20 Mar 2007 First day listed (price £170,000) 23 Apr 2007 Price changed from £170,000 to £130,000 18 May 2007 Price changed from £130,000 to £100,000 Beautiful part of that nation as well! How can we validate this reduction? Link to comment Share on other sites More sharing options...
StuB Posted May 31, 2007 Share Posted May 31, 2007 Aberystwyth20 Mar 2007 First day listed (price £170,000) 23 Apr 2007 Price changed from £170,000 to £130,000 18 May 2007 Price changed from £130,000 to £100,000 Beautiful part of that nation as well! How can we validate this reduction? Rubbish estate agents over valuing so they got the property? Greed? Lack of common sense? Listening to others who know nothing except what the bbc tell them to believe? Link to comment Share on other sites More sharing options...
Warwick-Watcher Posted May 31, 2007 Share Posted May 31, 2007 When I checked the site out for my area it confirmed what I already knew BUT there were loads of duplicated properties, so this makes totals a little skewed.Good site otherwise, and likely to get more interesting as rates rise.etc. Buckers Since they get most of their data from Rightmove there are likely to be just as many duplicates in the original data so the percentage being reduced is probably fairly accurate. On the subject of accuracy is it legal to describe a mobile home as a 3 bedroom bungalow :- http://www.rightmove.co.uk/viewdetails-717...=1&tr_t=buy Link to comment Share on other sites More sharing options...
Matt Bear Posted May 31, 2007 Share Posted May 31, 2007 (edited) Not sure what data would be best for indicating trends. The problem with the %age figure would seem to be the lag between when houses are first marketed and when they are reduced. If there is an increase in new instructions then 2 or 3 months later we might expect an increase in reductions. However, a simple new reductions figure would decrease as new instructions decreased so would be difficult to spot any trends. Personally I'd like to see some sort of average reduction figure both %age and actual. Edited May 31, 2007 by Matt Bear Link to comment Share on other sites More sharing options...
Willy Weasel Posted May 31, 2007 Share Posted May 31, 2007 www.propertysnake.co.uk has now moved to a new hosting company and is now running at top speed. Get over there for some juicy price falls you hungry bears Link to comment Share on other sites More sharing options...
speedkelly Posted May 31, 2007 Share Posted May 31, 2007 Great website...thanks Link to comment Share on other sites More sharing options...
Willy Weasel Posted June 1, 2007 Share Posted June 1, 2007 A shameless BUMP for those who want to check out falling prices as they happen Link to comment Share on other sites More sharing options...
margesimpson Posted June 1, 2007 Share Posted June 1, 2007 A shameless BUMP for those who want to check out falling prices as they happen Fantastic site. Is it yours? It is going to be HUGE!!!! Link to comment Share on other sites More sharing options...
dude wheres my house Posted June 1, 2007 Share Posted June 1, 2007 where does it get its data, Rightmove? Link to comment Share on other sites More sharing options...
Rinoa Posted June 1, 2007 Share Posted June 1, 2007 Property Snake appears to show that the crash has started. 000's of houses up and down the country are supposedly having their prices slashed as sellers become desperate. In reality, it has always been the case that EA's are over optimistic with their pricing to ensure they get the instruction. Then a few weeks later, they suggest a reduction. It's happened for years through both booms and busts. It's nothing new. Property Snake just brings it to our attention. Link to comment Share on other sites More sharing options...
Leonard Hatred Posted June 1, 2007 Share Posted June 1, 2007 I suspect that a lot of them may have been put on at comedy prices to avoid HIPS, though, with reductions to come. That is likely the case around here, with nothing really selling. Link to comment Share on other sites More sharing options...
housesforcourses Posted June 1, 2007 Share Posted June 1, 2007 I suspect that a lot of them may have been put on at comedy prices to avoid HIPS, though, with reductions to come. That is likely the case around here, with nothing really selling. I agree, which is why I sent a message to propertysnake: Hi,Really like the website. I think it will grow and grow in popularity. Something that would be really useful is if you could display the Land registry data for each property. So you could for example display the last house sold on that road and the average price. It would be a very useful feature. Their reply: Thanks for your email. Unfortunately we can't provide land registry data at the moment, firstly because the subscription fee is very expensive, but secondly because it's difficult to match individual listings to a land registry sale as estate agents usually do not provide house numbers. We realise this would be a great feature, so if we find a way that it can be done we will definitely add it. Shame Link to comment Share on other sites More sharing options...
Bug16 Posted June 1, 2007 Share Posted June 1, 2007 Property Snake appears to show that the crash has started. 000's of houses up and down the country are supposedly having their prices slashed as sellers become desperate.In reality, it has always been the case that EA's are over optimistic with their pricing to ensure they get the instruction. Then a few weeks later, they suggest a reduction. It's happened for years through both booms and busts. It's nothing new. Property Snake just brings it to our attention. But we keep being told that the market is booming, up up up go house prices, people queuing to buy a sh1th0le. So why would houses be dropping? Why am I seeing 40% drops in my area? Link to comment Share on other sites More sharing options...
nohpc Posted June 1, 2007 Share Posted June 1, 2007 This site will be an excellent way to pick up bargains if it all goes tits up. Excellent idea. Link to comment Share on other sites More sharing options...
Cornish Pasty Posted June 1, 2007 Share Posted June 1, 2007 Fantastic website, genius!! These are the asking prices, it would be interesting to see hjow much the sold props actually went for.. CP Link to comment Share on other sites More sharing options...
Roman Roady Posted June 1, 2007 Share Posted June 1, 2007 In comparison to the last crash of the early 90's, there will be two major differences this time around. The first will be the act that we have BTL now...houses being sold quickly for a profit at the top of the market, The second is illustrated by this excellent web site. The internet is with us now and bad news is going to travell much faster! Link to comment Share on other sites More sharing options...
Guest grumpy-old-man Posted June 1, 2007 Share Posted June 1, 2007 In comparison to the last crash of the early 90's, there will be two major differences this time around.The first will be the act that we have BTL now...houses being sold quickly for a profit at the top of the market, The second is illustrated by this excellent web site. The internet is with us now and bad news is going to travell much faster! which then makes you wonder, just how stupid are people these days, if they have access to all this & still can't see it. The crash is here right now & some on this site still can't see it, what does that tell you. Link to comment Share on other sites More sharing options...
Guest AuntJess Posted June 1, 2007 Share Posted June 1, 2007 There is definitely summat afoot. My email inbox and my letter box are stuffed with EAs letters, sending me details of a range of properties. Three months ago they were treating me in a VERY casual fashion and rarely sent me anything. I have had more in the last week than in the last three months! Link to comment Share on other sites More sharing options...
Willy Weasel Posted June 1, 2007 Share Posted June 1, 2007 which then makes you wonder, just how stupid are people these days, if they have access to all this & still can't see it. The crash is here right now & some on this site still can't see it, what does that tell you. Even the Beeb admitted on the 10 O'Clock news last night that prices were already falling in some areas Link to comment Share on other sites More sharing options...
Guest grumpy-old-man Posted June 1, 2007 Share Posted June 1, 2007 Even the Beeb admitted on the 10 O'Clock news last night that prices were already falling in some areas yes, we saw that as well. There is sooo much bearish data/info coming through now, it's difficult responding/posting to it all. Link to comment Share on other sites More sharing options...
tahoma Posted June 1, 2007 Share Posted June 1, 2007 I've just noticed the house next door but one to my old place has been reduced 4%. It was originally put on the market when mine was - Spring 2005. Was STRing a mistake? I think not. Link to comment Share on other sites More sharing options...
adrian101 Posted June 1, 2007 Share Posted June 1, 2007 its now 167 841 up a out 6000 and SL6 has gone from 210 to 220 in a few days 1st june 14-32 Link to comment Share on other sites More sharing options...
ianbeale Posted June 4, 2007 Share Posted June 4, 2007 http://www.propertysnake.co.uk/when this site first came to light it had detected 161,111 properties with reduced prices on rightmove - with rightmove reporting a total of 695,000 properties for sale (top right of home page http://www.rightmove.co.uk/ ). the purpose of this thread is to get it pinned to monitor the headline figure on snake vs the listings on rightmove to provide a % figure that will act as a leading indicator of state of the market. please feel free to add your figures as and when you see fit. formula (snake reductions/ rightmove listings) *100 = % of properties on market that have been reduced datum figure is (161,111/695,000) *100 = 23.2% - 29 May 07 Cautionary note - these figures may be irratic to start with as the snake database settles down!!! PS. I have emailed snake to produce some constantly updated graphs of reductions vs total listings for thier front page but i think they are a little busy at the momment now (171,879/695,000)*100=24.7% Link to comment Share on other sites More sharing options...
bearbullfence Posted June 4, 2007 Share Posted June 4, 2007 http://www.propertysnake.co.uk/datum figure is (161,111/695,000) *100 = 23.2% - 29 May 07 How will you compensate for the HIP effect? Link to comment Share on other sites More sharing options...
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