Property explosion on Rightmove?

chelseablue

Just wondering if anyone else has seen a big increase of properties for sale in their area on Rightmove?

I have email alerts set up on rightmove for houses in postcodes near me.

Last year I used to get emails showing about 5 new properties a day.

In the last couple of weeks all the emails have about 25 properties a day (3 pages of them!)

Does this always happen in the new year? Dont recall it happening last year

Would be interested to hear other peoples experience/views on this.

bylromarha

Time of year.

Market was reluctant this time last year as no-one knew HIP details. Now everyone knows what they're signing up to.

Or it could be all the stagnant properties changing agent

Phirefly

Or it could be Haarts messing about with their uploads again. Does my head in when every so often a glut of their sstc properties come up as new instructions. Goons.

Magic_Dragon

I have had a few emails too - but most of them are houses that have been taken off and put back on the market - with only 1 haivng a reduction in price!

Debt_Free_Chick

Not in my area.

Within 3 miles of my postcode, priced up to £500k, only 10 added in the last 14 days. One at £395k and all others less than £350k

merlinthehappypig

We have been looking for around 6 months and have also noticed a rise in the properties on Rightmove.

Three reasons for this IMO.

Firstly, the time of year. As you say new instructions tend to rise now anyway.

Secondly, there were far fewer properties for sale in November/December than I can ever remember. Agents were saying this too. Probably due to a combination of reasons - HIPs, market worries etc. I think that more people than normal have waited until after Christmas to see what the market does.

Thirdly, as bylromarha says, we have seen a huge number of properties coming on as new, when they are, in fact, not. Some have changed agents, a few have changed price, but some don't seem to be any different. Just a marketing strategy I think, but certainly one that gives a false impression.

In one of the areas we are looking at a large agent has just started with Rightmove. Over 40 properties came on as 'new' in that county yesterday compared with around 5 or 6 normally.

andysstuff_2

Noticed a lot of the newer ones coming on where I live appear to be empty looking at the photos, BTL's getting out of the market, reposessions on the up or just coincidence?

pamaris

I have noticed quite a few in the lower price range (yay for me, but not low enough!). I was wondering if those BTL landlords/ property developers are jumping the gun to market their homes before the capital gains tax changes in April. Hopefully they will keep 'em coming.

Bf109

I keep getting alerts from rightmove of "new" properties that have actually just been reduced by a few grand.

!!!!!!.

macaque_2

chelseablue wrote: »

Just wondering if anyone else has seen a big increase of properties for sale in their area on Rightmove?

I have email alerts set up on rightmove for houses in postcodes near me.

Last year I used to get emails showing about 5 new properties a day.

In the last couple of weeks all the emails have about 25 properties a day (3 pages of them!)

Does this always happen in the new year? Dont recall it happening last year

Would be interested to hear other peoples experience/views on this.

I agree. I have been flooded with emails from Prime Location. I think this is unusual for this time of year. In previous years I have seen an uptick around Spring.

clutton_2

""I was wondering if those BTL landlords/ property developers are jumping the gun to market their homes before the capital gains tax changes in April.""

at the moment CGT is 40% - chancellor said last october he was reducing it to 18% in April 2008 - and this week he changed it again to 9% with some taper relief back (i think !) - so if i choose to sell, it certainly would not be before April !!!