You have To Love The BBC and EA - Spring Bounce

Harry_Powell

It seems that ALL of the increase in supply has been cause by people who are desperate to sell. ALL of them.

Timberrrrrrrrrr!

Emy1501

chucky wrote: »

are you saying that the increased supply is due to landlords trying to offload BTL properties.

do you have any links from the media to back this up?

No I'm not I have just given a couple of examples of people I know trying to sell. my point is until we know the reason behind the increase in sellers no one can say what effect it will have on the market up down or side ways.

nollag2006

Emy1501 wrote: »

No I'm not I have just given a couple of examples of people I know trying to sell. my point is until we know the reason behind the increase in sellers no one can say what effect it will have on the market up down or side ways.

But I thought that we needed increased transaction numbers to sustain the recent price recoveries. HPC keep telling us that this was the missing element in the house price recovery.

Now that transaction levels have recovered, do you accept that house prices are unlikely to fall anytime soon?

Emy1501

nollag2006 wrote: »

But I thought that we needed increased transaction numbers to sustain the recent price recoveries. HPC keep telling us that this was the missing element in the house price recovery.

Now that transaction levels have recovered, do you accept that house prices are unlikely to fall anytime soon?

transaction levels are way down from averages. They even quite a bit down from the end of last year. I do not pay attention to half of the rubbish spouted on HPC I suggest you ask someone who believes in the forum

Emy1501

zappahey wrote: »

In the area I am watching, I would argue that the demand for good housing far outstrips supply as anything good is gone almost as soon as it hits the EA's window.*

All the run of the mill stuff or stuff "with issues" just sits there and has done for a long time. Could it be that the good stuff makes up the 15% that has sold?

Maybe it was always so, apart from a few recent, exceptional years when any old tat would sell in a flash, but we didn't have rightmove and propertybee to keep track of such things.

*Disclaimer: This only refers to the area that I am watching and no claim is made that it is representative of the entire nation, your town or the street in which your cousin's best mate's sister is trying to sell.

I suspect it all depends on where your looking. Where I am looking in South London which I accepts is not the best area in the world but its 30mins to London Bridge and it it has its fair share expensive properties. Up until the beginning of the year anything nice was under offer in 2 weeks if well priced and anything overpriced or horrible just stuck. Since the New Year though things have changed, bog standard terrace properties have been selling quickly whilst semis for 350K plus have been sticking and taking a couple of months to sell. Also things seem to have fallen off a cliff this month as hardly anything is selling but I suspect that has as much to do with Easter as anything else.

southantrim3

Just wait until interest rates go up. Then you'll see a real crash...

Conrad

Emy, I run my own mortgage business and I have to sit in EA meetings often.

EA's seek to sell the bulk of thier stock within a reasonable timeframe - 2 months and in general achieve this to stay in business. This talk of 15% is in my view completely academic.

Don't get hung up on the figures that last 2 or 3 weeks as activity has been lower due to an awkward half term hol plus looming election.

The trend is up for certain.

southantrim3

"The trend is up for certain"

says the mortgage business owner. Not cynical at all here....

chucky

southantrim3 wrote: »

Just wait until interest rates go up. Then you'll see a real crash...

really??

how many people will this be affecting?

Emy1501

Conrad wrote: »

Emy, I run my own mortgage business and I have to sit in EA meetings often.

EA's seek to sell the bulk of thier stock within a reasonable timeframe - 2 months and in general achieve this to stay in business. This talk of 15% is in my view completely academic.

Don't get hung up on the figures that last 2 or 3 weeks as activity has been lower due to an awkward half term hol plus looming election.

The trend is up for certain.

Round my way it starting to take longer than 2 months to sell some properties which would have been under offer in a couple of weeks last year. As for Easter to an extent I agree but in postcode I'm looking in 4 properties went under offer in Jan, 10 in Feb, 15 in March and so far 2 in April and both the 2 in April fell through in Feb and March so you could argue technically none. This infos using property bee. Seems a bit more than simply the Holiday season.

As for the elections well looks clearly like a hung parliament now so people whho are putting off buying now because of the election are unlikely to buy in a hung parliament.