Monday, January 16, 2012

Kite flyers stay home.

New listings dry up to lowest level ever seen

Estate agents’ branches are selling less than one new property a week each – the lowest level of new listings ever seen. Just 36,433 properties are currently coming on to Rightmove per week, the lowest recorded in the ten years that the site has been measuring the market. Rightmove’s monthly survey, out this morning, said that by contrast, there is a record level of search activity, with 44 million property searches in the first ten days of this year, up 27% on a year ago – but with home-hunters facing the smallest-ever choice of new listings.

Posted by sibley's b'stard child @ 01:04 PM (2246 views)
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12 thoughts on “Kite flyers stay home.

  • there are plenty of listings just they are overpriced, jeez when will these agents admit what the real issue is

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  • Thecountofnowhere says:

    “Added by Ray Evans on 2012-01-16 12:07:27

    Another view……………!

    After reading the latest maze of statistical offerings from, among others, the sellers of advertising space (including RM and Z) I have consulted my own private Crystal Ball.

    During 2012 there will be little change in the current situation regarding prices and volume. In 2013 “Supply & Demand” will show itself, mortgages will become more available to FTB’s and the prices for established well maintained property (generally closer to amenities, larger than new and with good gardens and parking) will at first stabilise and then gradually rise. Not ‘boom’ time and not immediately higher than inflation. In view of this those who do not urgently have to move should consider staying put for a year or two thus adding to the shortage of supply! ”

    Certainly an opposing view. They seemed to have not factored into the equation the collapse of the european banking system!!!

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  • It’s amazing how estate agents can scrape a living in the rigged UK housing market. (if market is the correct term since there are no buyers/sellers)

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  • mark wadsworth says:

    But at least what they are selling is more affordable than ever! See next article posted.

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  • Brightonrentfodder says:

    Khards, having just spent a day dealing with the agencies (as I need a roof over me head again); it’s pretty obvious down here, that the Agencies are doing fine by squeezing the last drop out of tenants. 150 pound annual agency fees have been reported and that’s just for the tenants, never mind the landlord! (we had a charge of £130 last year, which we refused to pay). I hope the cut in HB puts an end to their sh*fting of the proletariat !

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  • mark wadsworth says:

    For a long time, Rightmove boasted that is listed 650,000 homes for sale. They have now updated this to match reduced number of listings and dwindling available stock:

    Find your dream property right here, right now. Rightmove has over 800,000 properties for sale throughout the UK, allowing you to see more. We list a wide range of houses, flats, new homes and retirement homes. Rightmove makes it easy for you to find property for sale in your area!

    Yup, down from a glut of 650,000 to a modest 800,000. Remember: house prices can only go up.

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  • Roughly 1 million house for sale, another 1 million or thereabouts empty, interest rates at an all time low, mortgage payments more affordable then ever etc,etc,etc………..these EA’s must be p1ss poor salepeople – stack em high and sell em cheap Tesco style !

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  • mark wadsworth says:

    Jack, Jack, don’t be so hard on the EA’s. The bankers are to blame for this:

    “Shipside said that old records were being shattered by the sheer number of people searching for property. “Were a larger number of mortgages available to the market, the interest, confidence and necessity to buy would lift the current muted sales transaction numbers from the virtual subsistence level of the last three years.”

    Houses are not overpriced, mortgages are underavailable. Remember: house prices can only…

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  • MW – sorry I got a bit carried away there, of course I forgot house prices can only ever go up (especially in Hartlepool)

    Have you seen the latest ONS release to prove this? http://www.ons.gov.uk/ons/rel/was/wealth-in-great-britain-wave-2/2008-2010–part-1-/index.html

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  • mark wadsworth says:

    Jack, again, fret ye not. In thirty years time there’ll be a lovely shiney HS3 railway linking Hartlepool to London, house prices up there will go through the roof.

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  • “Just 36,433 properties are currently coming on to Rightmove per week”

    So, 1.9 million a year, or more than twice the amount sold throughout the whole of 2011. And not every property ends up on Rightmove. There is a heck of a lot of pent-up supply out there…

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  • I think Rightmove should reduce listing fees to give the smaller agents a fighting chance. The current costs are way too high and a lot of small local agents can’t afford to pay the fees required.

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