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Supply / Demand In The Real World....


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Out of interest I've done a couple of searches on Rightmove to check the total number of properties for sale in my town (2 postcode areas), and also check the number of sales that have gone through in Q1 2005 in the same area.

Well....

On rightmove (about 50% of actual number for sale, but I'll ignore that): 989 properties

Sold (LR data): 251

At the current rate of sales (even without further instructions) it would take a year to shift the current properties.

Add more to sell over time, and take into account the 50% of properties not listed on Rightmove and it looks like most people have little chance of selling soon without offering a significant discount.

Approximate ratio of demand/supply is 250:2000 or 1:8.

1 completed sale per 8 properties on the market.

A rough analysis, but it looks very nice from where I'm sitting. :P:lol::)

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Out of interest I've done a couple of searches on Rightmove to check the total number of properties for sale in my town (2 postcode areas), and also check the number of sales that have gone through in Q1 2005 in the same area.

Well....

On rightmove (about 50% of actual number for sale, but I'll ignore that): 989 properties

Sold (LR data): 251

At the current rate of sales (even without further instructions) it would take a year to shift the current properties.

Add more to sell over time, and take into account the 50% of properties not listed on Rightmove and it looks like most people have little chance of selling soon without offering a significant discount.

Approximate ratio of demand/supply is 250:2000 or 1:8.

1 completed sale per 8 properties on the market.

A rough analysis, but it looks very nice from where I'm sitting.  :P  :lol:  :)

Another thing to watch on Right Move is several properties are duplicated if on with more than one EA so number for sale may be less. I have been watching Northampton and several properties are on with 3 different EA's. They must be desperate. Just drop your price, it is easy!!

HPC - Bring it on!

:D

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Out of interest I've done a couple of searches on Rightmove to check the total number of properties for sale in my town (2 postcode areas), and also check the number of sales that have gone through in Q1 2005 in the same area.

Well....

On rightmove (about 50% of actual number for sale, but I'll ignore that): 989 properties

Sold (LR data): 251

At the current rate of sales (even without further instructions) it would take a year to shift the current properties.

Add more to sell over time, and take into account the 50% of properties not listed on Rightmove and it looks like most people have little chance of selling soon without offering a significant discount.

Approximate ratio of demand/supply is 250:2000 or 1:8.

1 completed sale per 8 properties on the market.

A rough analysis, but it looks very nice from where I'm sitting.  :P  :lol:  :)

Another thing you have to watch with Right Move is sometimes properties are duplicated if on with more than one EA. I am watching Northampton and several are on with 3 different EA's. They must be desperate!! It's easy - Just drop your price!!

HPC - Bring it on!!

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  • 440 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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