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Too Much Property For Sale.

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18 months ago I was getting emails from Prime Location with about 8 to 12 properties for sale. This year, the number crept up to over 20 properties. Two months ago I started to get emails with over 30 properties. Yesterday I had an email from Prime Location with 65 properties. This is the 3rd email from them this week.

Has the panic selling started or is it a buyers strike (or maybe both)?

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18 months ago I was getting emails from Prime Location with about 8 to 12 properties for sale. This year, the number crept up to over 20 properties. Two months ago I started to get emails with over 30 properties. Yesterday I had an email from Prime Location with 65 properties. This is the 3rd email from them this week.

Has the panic selling started or is it a buyers strike (or maybe both)?

As Dr Bubb quite rightly said, the panic is speading from other markets and those EAs with half a brain cell will be preparing to chase the housing market down in order to maintain volumes. I remember selling back in 1995 and all the EAs that valued the house were incredibly bearish: "It's a buyers' market, sir - you might have to accept an offer if you want a quick sale..." was the general theme. We accepted an offer for less than we'd paid for the house 5 years earlier. And this was in North London. Who said London was immune? <_<

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Panic is merely spreading from other markets,

as people realise a huge credit crunch is arriving

Now is the time when you can say that you told us :)

kudos

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