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Doctor Gloom

Market Begining To Flood With Ex Btl Property

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Fancy a bargain in a buyers market, all our local EA's have row after row of ex BTL property. It seems they are taking their small profits and running.

Couple that flood with up to 800 new homes locally and the fact that demand to so weak that EA's sit empty or ever shut will surely drag prices down.

I imagine the same sort of thing is going on countywide.

I should do a website following the impact of this on a local scale.

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Fancy a bargain in a buyers market, all our local EA's have row after row of ex BTL property. It seems they are taking their small profits and running.

Couple that flood with up to 800 new homes locally and the fact that demand to so weak that EA's sit empty or ever shut will surely drag prices down.

I imagine the same sort of thing is going on countywide.

I should do a website following the impact of this on a local scale.

I have always believed that the BTL exit would be a very large factor in triggering Great Crash 2. I have been monitoring the numbers of available properties coming to market for some time on Findaproperty.com and noted that the rise in supply in the last month has been huge.

Findaproperty.com total availability

2007

Search 245,319 properties for sale and rent from 4,957 estate agents* 17th January

Search 266,562 properties for sale and rent from 5,288 estate agents 17th February

Search 283,092 properties for sale and rent from 5,469 estate agents 17th March

Search 306,042 properties for sale and rent from 5,673 estate agents 23rd April

Search 311,107 properties for sale and rent from 5,776 estate agents 2nd May

Search 314,137 properties for sale and rent from 5,780 estate agents 8th May

Search 320,190 properties for sale and rent from 5,821 estate agents 15th May

Search 321,307 properties for sale and rent from 5,829 estate agents 16th May

Search 323,579 properties for sale and rent from 5,831 estate agents 18th May

Search 326,191 properties for sale and rent from 5,873 estate agents 19th May

Search 328,649 properties for sale and rent from 5,914 estate agents 22nd May

Search 331,689 properties for sale and rent from 5,944 estate agents 23rd May

Search 335,119 properties for sale and rent from 5,971 estate agents 25th May

Search 337,110 properties for sale and rent from 5,978 estate agents 26th May

Search 338,196 properties for sale and rent from 6,007 estate agents 1st June

_____________________________________________

*According to Findaproperty, a new multiple branch agent was signed up in February. The wide variations in the number of EAs reporting is reflecting multiple branches within an EA organization reporting in with increasing numbers of available property. The large swings in the number of agent reporting are also due to individual policies of each EA signed up with Findaproperty. Some EAs report all new listings through one branch and others leave reporting to the individual branch. Thus, the figures are an indication of increasing supply only and are not an indication of more or less business per agent.

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Fancy a bargain in a buyers market, all our local EA's have row after row of ex BTL property. It seems they are taking their small profits and running.

Couple that flood with up to 800 new homes locally and the fact that demand to so weak that EA's sit empty or ever shut will surely drag prices down.

I imagine the same sort of thing is going on countywide.

I should do a website following the impact of this on a local scale.

Great news , but it would help if you told us where your area is or is it a secret ?

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I have always believed that the BTL exit would be a very large factor in triggering Great Crash 2. I have been monitoring the numbers of available properties coming to market for some time on Findaproperty.com and noted that the rise in supply in the last month has been huge.

Why don't we simply pick a postcode on Rightmove and check weekly to see how many flats are for sale? My old haunt was Leamington (postcode CV32). This week there are 149 flats/apartments for sale in that postcode area.

Any one else got a preference for area? Leeds, Liverpool, Manchester?

Talking of Liverpool this is one of 1822 flats for sale :

http://www.rightmove.co.uk/viewdetails-153...=1&tr_t=buy

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I have always believed that the BTL exit would be a very large factor in triggering Great Crash 2. I have been monitoring the numbers of available properties coming to market for some time on Findaproperty.com and noted that the rise in supply in the last month has been huge.

RB, it's only 6 extra properties per agent, hardly significant.

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I have always believed that the BTL exit would be a very large factor in triggering Great Crash 2. I have been monitoring the numbers of available properties coming to market for some time on Findaproperty.com and noted that the rise in supply in the last month has been huge.

Findaproperty.com total availability

2007

Search 245,319 properties for sale and rent from 4,957 estate agents* 17th January

Search 266,562 properties for sale and rent from 5,288 estate agents 17th February

Search 283,092 properties for sale and rent from 5,469 estate agents 17th March

Search 306,042 properties for sale and rent from 5,673 estate agents 23rd April

Search 311,107 properties for sale and rent from 5,776 estate agents 2nd May

Search 314,137 properties for sale and rent from 5,780 estate agents 8th May

Search 320,190 properties for sale and rent from 5,821 estate agents 15th May

Search 321,307 properties for sale and rent from 5,829 estate agents 16th May

Search 323,579 properties for sale and rent from 5,831 estate agents 18th May

Search 326,191 properties for sale and rent from 5,873 estate agents 19th May

Search 328,649 properties for sale and rent from 5,914 estate agents 22nd May

Search 331,689 properties for sale and rent from 5,944 estate agents 23rd May

Search 335,119 properties for sale and rent from 5,971 estate agents 25th May

Search 337,110 properties for sale and rent from 5,978 estate agents 26th May

Search 338,196 properties for sale and rent from 6,007 estate agents 1st June

_____________________________________________

*According to Findaproperty, a new multiple branch agent was signed up in February. The wide variations in the number of EAs reporting is reflecting multiple branches within an EA organization reporting in with increasing numbers of available property. The large swings in the number of agent reporting are also due to individual policies of each EA signed up with Findaproperty. Some EAs report all new listings through one branch and others leave reporting to the individual branch. Thus, the figures are an indication of increasing supply only and are not an indication of more or less business per agent.

something isn't right with the average prices in my area - check this up:

http://www.findaproperty.com/areadetails.a...amp;areaid=1275

and

http://www.findaproperty.com/searchresults...amp;bedrooms=03

and

http://www.findaproperty.com/searchresults...amp;bedrooms=04

if there is one property listed sure the average asking price should be the price of the property.

Edited by null_nil

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RB, it's only 6 extra properties per agent, hardly significant.

You fell into d23's way of confusing rising supply with source of supply. As my footnote explains you cannot divide the number of properties by the number of agents as many EAs have multiple branches. Some EAs upload from a central office and others upload individually. The fallacy in the d23 method is assuming that the number of EAs signed on with findaproperty can vary by 10 or even 100 in a single day or week. The reality is that the number of contracted EAs remains more or less constant.

Most of the press are running the flood of properties story now and RM are showing huge increases in supply also. Nationwide are on record as admitting large increases. No point denying reality any longer. Great Crash 2 is here and the rush for the exits is on.

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4 mill for a 1 bedder in the city centre of Liverpool. And people still say this isn't a bubble :lol:

Or £135,000 if you actually look beyond the typo!

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Or £135,000 if you actually look beyond the typo!

I figured that it couldn't be 4 million. Not when that will buy you a mansion just outside the city centre. £135K is probably the going rate for a 1 bed city centre flat in the forthcoming city of culture; I have seen worse, but I have also seen much better!

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To be fair that flat does look stunning compared to what you would get in London for the same price.

Nah, they are CGI images... no wonder it looks stunning.

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Guest wrongmove
You fell into d23's way of confusing rising supply with source of supply. As my footnote explains you cannot divide the number of properties by the number of agents as many EAs have multiple branches. Some EAs upload from a central office and others upload individually. The fallacy in the d23 method is assuming that the number of EAs signed on with findaproperty can vary by 10 or even 100 in a single day or week. The reality is that the number of contracted EAs remains more or less constant.

:P

No, you have fallen into the common error of believing your own bullsh1t :rolleyes:

FaP have publically stated that they recruit as many as 100 EAs in a day - usually when they recruit a chain of offices. You are simply being very stupid or just outright lying here RB. :angry: I notice you still haven't answered my question on the big FaP thread.....

The FaP figures do show evidence of a rise in supply, just not the enormous rise you keep spinning. There is so much genuinely bearish news out there at the moment, why do you persist in trying to mislead readers over this? No-one but the very dim are going to be convinced - the rest will just write you off as either a liar or very dim yourself, and subsequently ignore the rest of your posts. It really is strange behaviour from someone of the legal profession, who also professes to be religious.

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No-one but the very dim are going to be convinced.

Is that why nophc is turning bearish?

It really is strange behaviour from someone of the legal profession, who also professes to be religious.

Come on. Totally normal behaviour I'd say.

Religious people are masters at distorting information to suit there own viewpoint - they have to.

As for people in the legal proffession being selective with data....

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I must say I noticed that....nohpc has begun to sound 'extremely cautious', almost bearish? Any comment/thoughts from the good fellow himself?

Is that why nophc is turning bearish?

Come on. Totally normal behaviour I'd say.

Religious people are masters at distorting information to suit there own viewpoint - they have to.

As for people in the legal proffession being selective with data....

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Fancy a bargain in a buyers market, all our local EA's have row after row of ex BTL property. It seems they are taking their small profits and running.

Couple that flood with up to 800 new homes locally and the fact that demand to so weak that EA's sit empty or ever shut will surely drag prices down.

I imagine the same sort of thing is going on countywide.

I should do a website following the impact of this on a local scale.

Same in my area South Yorks,Paper full of ex BTL property,you can see the clues, NO CHAIN,IMMEDIATE VACATION,and have even seen a couple of CASH BUYERS ONLY.If i was a FTB i would hang on for a while beore buying.

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Same in my area South Yorks,Paper full of ex BTL property,you can see the clues, NO CHAIN,IMMEDIATE VACATION,and have even seen a couple of CASH BUYERS ONLY.If i was a FTB i would hang on for a while beore buying.

I am a FTB

I am hanging on a while before buying

Is it wrong to wish financial ruin on those who have deprived me of a home to try and make themselves rich?

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I am a FTB

I am hanging on a while before buying

Is it wrong to wish financial ruin on those who have deprived me of a home to try and make themselves rich?

well... on balance... no...

but i'm reserving my real anger for the F*ckers who unleashed cheap credit knowing that it would fuel house prices to avoid a recession...

ok, a choice needed to be made.. but this choice was made behind closed doors.. a choice that will effect millions or people for decades... a choice made with no consultation with the public, with no disclosure, with no accountability...

liberal democracy my f4t hairy 4rse...

Edited by mallory

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Talking of Liverpool this is one of 1822 flats for sale :

http://www.rightmove.co.uk/viewdetails-153...=1&tr_t=buy

That page has clearly come through a time warp. Given that property doubles every 10 years or so ( :unsure::rolleyes: ) and working on the basis it is 'worth' 150k now, it will not be over £4 million for another 50 years.

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Guest Cletus VanDamme
Findaproperty.com total availability

Please RB, no more FaP figures, we can't take it any more, we'll do anything, we'll give you carte blance to say 'miracle economy' and 'sheeple' as often as you like, but no more FaP figures [puts barrel of gun in mouth]

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Please RB, no more FaP figures, we can't take it any more, we'll do anything, we'll give you carte blance to say 'miracle economy' and 'sheeple' as often as you like, but no more FaP figures [puts barrel of gun in mouth]

:lol::lol:

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