Is it just my area, or are there a huge number of new properties on the market?

Sapphire

carolt wrote: »

Loads of new ones on every day at the moment...

Obviously, it's spring, but I don't ever recall, in any of the last few years since I've been keeping a close eye on the market, this number of new-to-the-market properties coming on at once.

These aren't the same old coming on at marginally different prices - these are all new sellers.

Will be interesting to see what happens to them all post election - appears to be a case of cold feet pre-election; obviously none will sell beforehand, so we will have to wait and see...


Anyone else noticed the same trend?

Not in my area – and the minute something goes on the market it appears to be sold.

treliac

Sapphire wrote: »

Not in my area – and the minute something goes on the market it appears to be sold.

I know one or two who are desperately trying to sell to stave off repossession. More competition worsens their plight.

Alan_M_2

carolt wrote: »

Loads of new ones on every day at the moment...

I live in a nice part of Surrey in a cul de sac with a total of 30 properties.

They don't sell very often around here even in the boom, people like it and tend to stay put, but three have gone on the market this month, all close neighbours, all for the same reason....

They were all made redundant from their respective employers, have hung on as long as possible but are now having to sell before repossession. It's quite sad actually.

Having had a look on ourproperty, these are averaging a 25% reduction on 2007 highs.

Can you imagine how extensive this problem would be if we had realistic interest rates?

Blacklight

Love these threads.

"I reckon..."
"I've noticed round my way..."
"Round the corner from me..."

It's like everyone's little cul-de-sac is a barometer of the entire UK property market. Perhaps try adding some facts sometime.

lostinrates

My only observation was our ''maybe in March house'' bounced back n the market, having been under offer, ad the place that is my lottery house that I thought had been bought is still on the market at a higher price. we're still mooching over financing options for the thing our interest is currently registered in....and that I really like......and looking at another house at the weekend. It is my opinion soley from the details, that this house is being marketed at about 70% (possibly slightly less) o the value it would have been at peak when i started looking.

Alan_M_2

Blacklight wrote: »

Love these threads.

"I reckon..."
"I've noticed round my way..."
"Round the corner from me..."

It's like everyone's little cul-de-sac is a barometer of the entire UK property market. Perhaps try adding some facts sometime.

I write what I see in my little corner of England.

Fact's of these events don't actually exist until a number of years after the event when they have been officially collated.

If you can provide fact of currently occurring events I, and many posters on this forum, would be delighted to see them and the basis of which this "Fact" was compiled.

In real terms a "Fact" is a historical statistic....so in two to three years time, we'll know what the facts of 2010 were and will be able to judge if our anecdotes or Hamish were nearer the mark.

Until then, we only have anecdotal evidence, unless , like many posters, you consider a property listing on "Rightmove" as some form of fact?

It's all speculation and anecdotes.

However, I don't need to be Robert Peston to understand that artificially low interest rates have created a vacuum that has allowed people to financially "tread water" until the poo finally hits the fan........The question none of us know the answer to is what's actually going to happen when poo starts flying.

undetterred

Blacklight wrote: »

Love these threads.

"I reckon..."
"I've noticed round my way..."
"Round the corner from me..."

It's like everyone's little cul-de-sac is a barometer of the entire UK property market. Perhaps try adding some facts sometime.

I also like the assured assumption of this quote..........

Will be interesting to see what happens to them all post election - appears to be a case of cold feet pre-election; obviously none will sell beforehand, so we will have to wait and see...

IveSeenTheLight

dopester wrote: »

Enjoy it. I'm loving it. It's the same for many areas I monitor. The sellers will all be competing with each other against a diminishing pool of byers.

I understood the latest facutal release showed supply increased but so did demand?
Supply increase 15%
Demand increased 7%

Of course these percentages don't mean too much as it depends on the base figure in which the percentages are applied

IveSeenTheLight

!!!!!!_face wrote: »

Under offer is non-binding. It's merely the first stage of negotiation.

Not in Scotland it's not.
An offer is binding.

chucky

IveSeenTheLight wrote: »

I understood the latest facutal release showed supply increased but so did demand?
Supply increase 15%
Demand increased 7%

Of course these percentages don't mean too much as it depends on the base figure in which the percentages are applied

funny you say that, i walked past the jewellers in Liverpool St yesterday and there was only a couple of people in there. the shop window was crammed with jewellery and watches. definetely higher supply against a smaller level of demand...

i didn't see them dropping their prices to try and sell their stock.