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EA: Shortage of Properties
nmiah786
Posts: 577 Forumite
First of all been off here for a while so I dont know if this has been brought up or not! Apologies in advance if it has 
Been visiting a few of the local EA offices today enquiring about any new properties they might have had on their books recently.
Guess what!!! All of the EAs told me that they do not have many properties on their books at the moment :eek: They are finding that not many people are interested in putting their properties on the market at the moment. However, there is no shortage of buyers!!!
Only managed to get details of 2 new properties! I have not seen this happen for a long time!
Is anyone else experiencing this in their local area?
I thought it was a buyers market at the moment!!!
Been visiting a few of the local EA offices today enquiring about any new properties they might have had on their books recently.
Guess what!!! All of the EAs told me that they do not have many properties on their books at the moment :eek: They are finding that not many people are interested in putting their properties on the market at the moment. However, there is no shortage of buyers!!!
Only managed to get details of 2 new properties! I have not seen this happen for a long time!
Is anyone else experiencing this in their local area?
I thought it was a buyers market at the moment!!! Debt at highest (November 2005) = £35,856
Debt currently (August 2006) = £20,790
&More £1,530, Egg £6,800, HSBC £3,760, Egg Loan £8,700
Interim goal = £23,400 (Target: February 2006, Missed but acheived May 2006)
2nd Interim Goal = £15,000, Target October 2006
Debt Free Date = February 2008 BUT I'M GOING TO BE TRYING FOR SOONER!!!
Debt currently (August 2006) = £20,790
&More £1,530, Egg £6,800, HSBC £3,760, Egg Loan £8,700
Interim goal = £23,400 (Target: February 2006, Missed but acheived May 2006)
2nd Interim Goal = £15,000, Target October 2006
Debt Free Date = February 2008 BUT I'M GOING TO BE TRYING FOR SOONER!!!
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Comments
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I've definately noticed this in my area. I live in a large village just outside of Leeds, with a good mix of young couples, families and old people. We were looking for a house in december, looked around all 7 of the properties that were in our price range (first time buyers, max £140,000), fell in love with one and have now bought it and moved in last month. I have since noticed that ALL 7 of the houses have been sold. The house next door to us went on sale last month and sold pretty much immediately (within 2 weeks I think).
There are now only 3 properties on the market in our village, 2 at £160,000 which are on a busy main road, and one at £180,000 that is tiny and ridiculously overpriced. The house next door to us was the only house that was new to the market since christmas, and nothing new has been put up for sale in the last month.
It's most obvious in the first time buyer price band, but even the houses that were up for around £300,000 in december have all been sold with no others in that priceband now for sale.
I'm really glad I bought when I did,even though at the time everyone was saying what a big risk it was.0 -
definitely a shortage where I live - I'm in Surrey. Every house that goes up is sold within a few weeks. I had 32 viewings in less than 3 weeks - there just aren't enough properties to go around.0
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i would say that in my area york & selby there isn't a shortage of properties in fact when my partner and i were looking we only struggled because we wanted a bungalow because i'm disabled if we could of had a house there was a hell of a lot too choose fromWell we finally did it got a house not on a main road, next a railway line or any other werid and wonderful things that get on my nerves!!!
:beer:
:dance:0 -
I am based in Surrey (too) and there is a shortage. In the month I was looking only 2 new houses (in my criteria) came on the market. According to the EA's houses are seling a lot closer to the asking price than in a long time and houses they have had on the market for a long time are now gettnig a lot of interest.
IMO this means prices are going to rise again.Lady Astor: "Winston, if I were your wife I'd put poison in your coffee."
Sir Winston Churchill: "Nancy, if I were your husband I'd drink it."0 -
I would agree. I've just moved into a house in Hertfordshire, and really glad I snapped it up when I did. It was the only interesting house around just before christmas when I made my offer, and nothing else even worth a view has come on to the market since. And I'm not fussy - we're only talking a standard 3 bed end of terrace! People are obviously holding off selling at the mo.0
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Thank you all, glad to hear that the general consensus is the same.
However, I would be interested in hearing from people in London, because the area that I'm looking at is in London!
This reminds me of the Poll that I started on here at the start of the year. The results of that seem to be mimicking what we are experiencing now!Debt at highest (November 2005) = £35,856
Debt currently (August 2006) = £20,790
&More £1,530, Egg £6,800, HSBC £3,760, Egg Loan £8,700
Interim goal = £23,400 (Target: February 2006, Missed but acheived May 2006)
2nd Interim Goal = £15,000, Target October 2006
Debt Free Date = February 2008 BUT I'M GOING TO BE TRYING FOR SOONER!!!0 -
Looking at RightMove I get over 100 properties between £120,000 and £130,000 in my area. Seems a lot to me!0
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sm9ai wrote:Looking at RightMove I get over 100 properties between £120,000 and £130,000 in my area. Seems a lot to me!
How many of those are new ones and how many are old ones just hanging about for various reasons!!! Also, how many of those are already sold when you phone the EA up!!!Debt at highest (November 2005) = £35,856
Debt currently (August 2006) = £20,790
&More £1,530, Egg £6,800, HSBC £3,760, Egg Loan £8,700
Interim goal = £23,400 (Target: February 2006, Missed but acheived May 2006)
2nd Interim Goal = £15,000, Target October 2006
Debt Free Date = February 2008 BUT I'M GOING TO BE TRYING FOR SOONER!!!0 -
not a huge amount of new properties coming on Stratford, East London. Quite a lot of those of that do, are under offer in a fairly short space of time
Hope that helps (or not!)0
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