m00m00's weekly property bee stats Week 6

m00m00

I've been using property bee for the past month, and recently decided to track and try and make some sense of week on week changes, to see if a pattern in the market can be spotted going forward.

I picked 4 areas I know well, with differing property types contained within.

the areas I picked were

NG15 (Hucknall and Ravenshead, North Nottingham)

NG8 ( Broxtowe, Aspley, Strelly, Billborough (chav invested hell holes), Woollaton (nice part of nottingham)

Wakefield (West Yorkshire)

York (North yorkshire)


the usual right move disclaimers apply (duplicate properties with differing estate agents etc)

I'll be cross posting this info on GHPC and MSE, as property bee deserves the exposure

http://www.property-bee.com/

and without further delay, the stats will be in the next post

m00m00

NG8

23 reductions

average price of property reduced £182,199

average reduction £6854

largest reduction £20000

status change STC to available = 4

Status change available to STC = 14

2 price increases

average increase = 2025
largest increase = 4000


property on market at start of week (16/02/08) 746
Property on market at end (23/0208) 745

net change - 1



Ng 15

21 reductions

average price of property reduced £133,896

average reduction : £5642

largest reduction : £12955

status change STC to available : 3

Status change Available to STC : 7

3 price increases

average increase : 6333

largest increase : 12000

property on market at start of week (16/02/08) 908
Property on market at end (23/0208) 906

net change -2


wakefield

24 reductions

average price of property reduced £217829

average reduction : £10194

largest reduction : £80000

Status change STC to available : 2

status change available to STC : 9

23 properties have had descriptions changed to show '5% deposit and legal fees paid' instead of reductions, all with the same estate agent

(Richard Kendall)

property on market at start of week (16/02/08) 1274
property on market at end (23/02/08) 1273

net change -1



York

65 reductions

average price of property reduced : £202,322

average reduction : £5891
largest reduction : £20000

status change STC to available : 6

status change available to STC : 26

property on market at the start of week (16/02/08) 1925

property on market at the end of the week (23/02/08) 1975

net change + 50

born_again_saver

I love Property Bee! It is a fantastic tool. Although Property Snake has been interesting for highlighting price drops in property, the new Bee on the block takes housing market price tracking to a whole new level of detail.

It's interesting to see your stats, they seem to echo my anecdotal reading of the Sheffield market at present, i.e. rather stagnant. I've only just started using Property Bee but have yet to try using the export function or to try and make sense of the level of sales, reductions, etc. Think I'll have another look at it next time I check on my searches...

m00m00

Week 2, W/E 1st March 2008

NG 15

24 reductions
0 Increases

Average reductions£9,225
Largest Reduction £24,000

Average Cost of Property Reduced : £199997

Percentage of Property on market reduced 2.9%


Status Change Available to Sold STC 9

Total Property on market at start of week 906
Total Property on market at end of week (1/3/08) 827


net change -79

last weeks reductions 21
Change in number of reductions + 3

cumulative total of reductions (2 weeks) 45



NG 9

40 reductions
3 increases

Average reduction £10,976
Largest Reduction £100,000

Largest Increase £5,000

Average Cost of Property Reduced £205909

Percentage of Property on market reduced 2.95%

Status Change Available to Sold STC 21
Status Change STC to Available 5

Total Property on Market at start of week 1329
Total Property on market at end of week (1/3/08) 1357

net change + 28

No previous rolling data



NG 8

19 Reductions
1 Increase

Average reduction £7453
largest reduction £45050

largest increase £29550

Average Cost of Property Reduced £162550

Percentage of Property on market reduced 2.5%

Status Change Available to Sold STC 9
Status Change STC to Available 2


Total Property on Market at start of week 745
Total Property on market at end of week (1/3/08) 752

net change +7

last weeks reductions 23
Change in number of reductions - 4

cumulative total of reductions (2 weeks) 42



Wakefield

43 reductions
2 Increases

Average Reduction £7787
Largest Reduction £75000

Larget Increase £35000

Average Cost of Property Reduced £192954

Percentage of Property on market reduced 3.28%

Status Change Available to Sold STC 5
Status Change STC to Available 2

2 properties have description amended to offer 5% discount in lieu of reduction

Total Property on Market at start of week 1273
Total Property on market at end of week (1/3/08) 1311

Net Change + 38

Last Weeks Reductions 24
change in number of reductions + 19

Cumulative total of reductions (2 weeks) 67


York

82 reductions
4 Increases

Average reduction : £9122
Largest Reduction : £225005 (£700k to £474995, that one's got to hurt)

Largest Increase : £9000

Average Price of Property Reduced £219166

Percentage of Property on Market Reduced 4%

Status Change Available to Sold STC 34
Status Change STC to Available 4


Total Property on Market at start of week 1975
Total Property on market at end of week (1/3/08) 2012

Net Change + 37

Last weeks reductions 65
Change in number of reductions + 17

Cumulative total of reductions (2 weeks) 147


WF6 (Normanton)

36 Reductions
0 Increases

Average Reduction : £5833
Largest Reduction : £40000

Average Price of Property Reduced £175110

Percentage of Property on Market Reduced 11.9%

6 properties have description amended to offer 5% discount in lieu of reduction

Status Change Available to Sold STC 7
Status Change STC to Available 0

Total Property on Market at start of week 296
Total Property on market at end of week (1/3/08) 302

Net change + 6

no Rolling Data

m00m00

2 new areas added

NG9 Beeston, Stapleford and Bramcote (nottingham) contains a lot of HMO student property (beeston) and some very nice property indeed (bramcote)


WF6 (Normanton) West Yorkshire market town near Wakefield, commutable to Leeds/Wakefield, good motorway links, prices very much out of sync with local earnings, a classic 'bubble scenario'

Kez100

Excellent. It's possible with the big drop that the property has been split up. A mate did that with his mega expensive property. Ended up selling the (what I called) his butlers cottage separately and then dropping the price of the main house.

m00m00

Kez100 wrote: »

Excellent. It's possible with the big drop that the property has been split up. A mate did that with his mega expensive property. Ended up selling the (what I called) his butlers cottage separately and then dropping the price of the main house.

certainly does seem to be the case with that one.

did see a good old fashioned 100k drop in ng 9 though, granted it drops it down to being a bargain 850k now, from 950k


I've now added a line showing the total percentage of property within a postcode reduced within 7 days, and rolling data going forward.
as I build up bigger datasets, I'll be able to do more with it, to show a clearer picture of what's actually happening in these 6 areas.

nelly_2

I did my post code setting £200 000 as the max

In the first ten pages there are 23 drops + 2 others that I know have dropped previous to my searches.

m00m00

2 new areas added details in next post

GU21 (Woking, Surrey)

23 reductions

largest reduction £35,000
Largest Percentage reduction 6.14%

average reduction £11,028
average Percentage reduction 3.48%

average price of property reduced : 312800

Status Change Available to STC : 11
Status Change STC to Available : 1


Property on market 796

Percentage of property on market reduced in past week 2.89%
Percentage of property on market status change to STC 1.38%

Change on previous week +18

No previous Rolling Data

NG15

12 reductions

largest reduction £21,000
Largest Percentage reduction 4.83%

average reduction £5,767
average Percentage reduction 2.75%

1 increase
largest increase £4,950
largest percentage increase 3.67%

average increase £4,950
average percentage increase 3.67%

Average price of property reduced : £192,292

Status Change Available to STC : 10
Status Change STC to Available : 1


Property on market 796

Percentage of property on market reduced in past week 1.43%
Percentage of property on market status change to STC 1.19%

Change on previous week +13


last weeks reductions 24
change in reductions -12

cumulative total of reductions (3 weeks) 57


NG 9

38 reductions

largest reduction £19,944
Largest Percentage reduction 13.01%

average reduction £7,470
average Percentage reduction 3.64%

1 increase
largest increase £5000
largest percentage increase 2.27%

average increase £5000
average percentage increase 2.27%

Average price of property reduced : £212447

Status Change Available to STC : 9
Status Change STC to Available : 7


Property on market 1331

Percentage of property on market reduced in past week 2.85%
Percentage of property on market status change to STC 0.60%

Change on previous week -26




last weeks reductions 40
change in reductions -2

cumulative total of reductions (2 weeks) 78

NG8

18 reductions

largest reduction £20,000
Largest Percentage reduction 7.15%

average reduction £6058
average Percentage reduction 4.04%

1 increase
largest increase £5
largest percentage increase 0.00% (increase of £5 on £334950)

average increase £5
average percentage increase 0.00%

Average price of property reduced : £222851

Status Change Available to STC : 7
Status Change STC to Available : 5


Property on market 752

Percentage of property on market reduced in past week 2.39%
Percentage of property on market status change to STC 0.93%

Change on previous week 0


last weeks reductions 19
change in reductions -1

cumulative total of reductions (3 weeks) 60

York


84 reductions

largest reduction £30000
Largest Percentage reduction 11.13%

average reduction £8208
average Percentage reduction 3.62%

3 increases
largest increase £2550
largest percentage increase 1.76%

average increase £1167
average percentage increase 0.78%

Average price of property reduced : £212447

Status Change Available to STC : 39
Status Change STC to Available : 4


Property on market 2065

Percentage of property on market reduced in past week 4.07%
Percentage of property on market status change to STC 1.89%

Change on previous week +53




last weeks reductions 82
change in reductions +2

cumulative total of reductions (3 weeks) 231

WF6

12 reductions

largest reduction £15000
Largest Percentage reduction 11.00%

average reduction £6870
average Percentage reduction 3.98%

1 increase
largest increase £6500
largest percentage increase 7.22%

average increase £6500
average percentage increase 7.22%

Average price of property reduced : £178402

Status Change Available to STC : 1
Status Change STC to Available : 1


Property on market 306

Percentage of property on market reduced in past week 3.92%
Percentage of property on market status change to STC 0.33%

Change on previous week +4




last weeks reductions 36
change in reductions -24

cumulative total of reductions (2 weeks) 48


Wakefield

36 reductions

largest reduction £20050
Largest Percentage reduction 7.39%

average reduction £6416
average Percentage reduction 3.50%

3 increases
largest increase £5000
largest percentage increase 5%

average increase £2500
average percentage increase 2.06%

Average price of property reduced : £192518

Status Change Available to STC : 7
Status Change STC to Available : 4


Property on market 1303

Percentage of property on market reduced in past week 2.76%
Percentage of property on market status change to STC 0.54%

Change on previous week -8

last weeks reductions 43
change in reductions -7

cumulative total of reductions (3 weeks) 86


LS1 (+1 mile radius) (Leeds City Centre)

21 reductions

largest reduction £10050
Largest Percentage reduction 10.01%

average reduction £6371
average Percentage reduction 4.46%

3 increases
largest increase £15000
largest percentage increase 8.38%

average increase £11683
average percentage increase 6.56%



average price of property reduced : 141221

Status Change Available to STC : 18
Status Change STC to Available : 3


Property on market 1204

Percentage of property on market reduced in past week 1.74%
Percentage of property on market status change to STC 1.50%

Change on previous week +9

No previous Rolling Data

m00m00

new areas added

GU21 (Woking, Surrey) added by request

LS1 + 1 mile radius (Leeds city centre (all new build flats) + a 1 mile surrounding area which covers lots of student property (HMO's)

SouthCoast

Thanks.

I have over 1,000 properties in my post codes and am seeing similar results.

Can you explain in simple terms please how you manage to do the detailed analysis that you do?