The return of Equity

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JonnyBravo wrote: »

Let me guess.... they've been on sale for months and now 1 or 2 have sold and you describe them as "snapped up". Don't make me laugh.

'Snapped up' a term conjuring visuals of a rabid crowd fighting to the death over the purchase of a house, when in reality, it's probably just one person who watches Location, Location, Location., who mistakenly feels we are somewhere near the bottom of the market.:rotfl:

pickles110564

penguine wrote: »

As for the house prices indices -- if fewer FTBs are in the market, and more people are renting out their current property in order to buy a larger one and "move up the ladder", then this might lead to the illusion that house prices are going up when in fact it just means that fewer of the properties at the bottom end of the market are selling.

Just a guess.

Not a very good guess, in our area there are 11 out of 30 FTB STC with prices under £110k. This is a large increase from earlier searches and points to the fact that confidence is starting to return at the bottom end of the market.:beer:

pickles110564

ad9898 wrote: »

'Snapped up' a term conjuring visuals of a rabid crowd fighting to the death over the purchase of a house, when in reality, it's probably just one person who watches Location, Location, Location., who mistakenly feels we are somewhere near the bottom of the market.:rotfl:

So ad, when properties come on the market and are sold in less than two weeks in this climate what do you call it?
Face up to it there is now more movement in sales than in the last few Winter Months.
Ps. here is a tip for you Volumes are on the up at the PORT.

pizzagirl

Pull the other one pickles, it's got bells on.

pickles110564

pizzagirl wrote: »

Pull the other one pickles, it's got bells on.

Explain please?

pickles110564

SingleSue wrote: »

There have been some extra sales
a bungalow which only came on the market last month, sold within a very short space of time...not even enough for me to add it to my saved properties!


But yes, you are right, there does appear to have been a few more being sold than there had previously been, including ones I have had tabs on for the last year

Thanx for confirming this Sue.

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pickles110564 wrote: »

So ad, when properties come on the market and are sold in less than two weeks in this climate what do you call it?

I've seen more SSTC boards in the high street and on Rightmove in my area than I have seen for a while, yet when I look at the rolling 3 month figures on the Land Registry, it's at it's lowest I have ever seen at just 24 sold.

In fact what I'm seeing on Rightmove is properties going SSTC, staying on there for about 4 months, then quietly disappearing, with no sign of them ever reaching the Land Registry. These kind of tricks are being well used by EA's now, is it legal ?, I don't know but it is definately happening.

SSTC doesn't mean anything if they don't actually sell, and there is a large percentage that aren't.

pickles110564

ad9898 wrote: »

In fact what I'm seeing on Rightmove is properties going SSTC, staying on there for about 4 months, then quietly disappearing, with no sign of them ever reaching the Land Registry. These kind of tricks are being well used by EA's now, is it legal ?, I don't know but it is definately happening.

What a load of rubbish, how many sellers would allow their properties to show STC when they are still for sale?
You lot are really scraping the bottom of the barrel for excuses to back up up your doom and gloom.:rotfl:

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pickles110564 wrote: »

What a load of rubbish, how many sellers would allow their properties to show STC when they are still for sale?

The point is, these houses are not still for sale, they have been taken off the market months ago, they are sales that were going through and have collapsed and been taken off the market, yet are left on Rightmove as SSTC, I have seen at least 10 in my area over the last 5 months, and I haven't really been looking for it, just noticed as I've been scanning the pages, yet when you look at the Land Registry they never appear.

I suggest people take a look when they are scanning Rightmove with Property Bee, then check with the LR, you will be surprised.

FungusFighter

pickles110564 wrote: »

What a load of rubbish, how many sellers would allow their properties to show STC when they are still for sale?
You lot are really scraping the bottom of the barrel for excuses to back up up your doom and gloom.:rotfl:

Still trying to talk the market up Onion Boy;)

No vested interest either:rotfl: