15 buyers for every home on the market

15 buyers for every home on the market

15 buyers for every home on the market

First published in Countywide by

BUYERS are outstripping the number of houses for sale by 15 to one.

The buoyant market has pushed up prices in the Colchester area by as much as 16 per cent in the past three months, while the average house price in Essex has rocketed 11 per cent in the past year.

Perry Rose, manager of Colchester Haart estate agents in Head Street, said: “There is still a shortage of homes on sale, with 15 times as many prospective purchasers on our books compared to properties available.

“However, we are starting to see more property coming up for sale.

“We predict a surge when people return from their summer holidays, switching from a seller’s to a buyer’s market as we head into the autumn.”

Haart says the average price of property sold through its branches in Colchester, Manningtree and Wivenhoe rose by 12.25 per cent in the past quarter.

The highest increase was semidetached houses, where prices increased 15.76 per cent to £206,865.

Danni Argent, 24, recently bought a house in Gavin Way, Colchester, with her fiance Alex, 26. She said: “When we started looking, from January to May, prices for similar houses appeared to have increased by about 10 per cent.

“A house would come on the market one day and the same sized house on the same estate would come up two weeks later for a lot more. We couldn’t believe how fast prices seemed to be rising. We sold our flat 20 months after buying it with a 14 per cent increase, but it meant we knew we’d have to spend more than we wanted to.

“Also, the speed the houses were selling at was astonishing.

Ahouse came on the market on a Thursday and by the time we went to look at it on the Saturday it had sold. We feel extremely lucky to have been quick enough and in a position where we could make an offer on the house we fell in love with immediately, otherwise it would have been snapped up.”

According to property website Rightmove, average asking prices in Essex are £289,957, an increase of 11 per cent since the housing market was at its precrisis peak in May 2008.

The increases in Suffolk and Kent were only 1.7 per cent and 3.7 per cent respectively.

Comments (10)

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11:56am Wed 27 Aug 14

SomethingForTheWeekend? says...

So what is wasn't like that a year ago when they were dragging their heels like trying to get a council officer to do some work. They waited until the market bottomed out so low, that they turned into bottom feeders. The amount of property procrastinators that were viewing houses was bordering on farce. You left it too late I have no sympathy 15 to 1 good ratio for house owners calling the shots. Interest rate in january good news for savers and pensioners. Sorry young ones we have had 6 years of covering your backs, now its our turn ?
So what is wasn't like that a year ago when they were dragging their heels like trying to get a council officer to do some work. They waited until the market bottomed out so low, that they turned into bottom feeders. The amount of property procrastinators that were viewing houses was bordering on farce. You left it too late I have no sympathy 15 to 1 good ratio for house owners calling the shots. Interest rate in january good news for savers and pensioners. Sorry young ones we have had 6 years of covering your backs, now its our turn ? SomethingForTheWeekend?
  • Score: -20

12:16pm Wed 27 Aug 14

sam vines says...

Might be 15 buyers however it seem to be a place shows a for sale then sold sign only for it to be replaced with a to let sign.
Might be 15 buyers however it seem to be a place shows a for sale then sold sign only for it to be replaced with a to let sign. sam vines
  • Score: 12

12:48pm Wed 27 Aug 14

WilsunMarridge says...

Would be interesting to hear the definition of 'buyers' here. My friend has had his property on the market for 18 months - he has had a whole raft of so-called 'buyers' who turn up , make unrealistic and frankly insulting offers well below market prices and then turn nasty when they are refused. If the figures in the report include these jokers who seem to want us all to give our properties away, its not worth the paper its written on !!
Would be interesting to hear the definition of 'buyers' here. My friend has had his property on the market for 18 months - he has had a whole raft of so-called 'buyers' who turn up , make unrealistic and frankly insulting offers well below market prices and then turn nasty when they are refused. If the figures in the report include these jokers who seem to want us all to give our properties away, its not worth the paper its written on !! WilsunMarridge
  • Score: -2

12:54pm Wed 27 Aug 14

Smouldering Ewok says...

Really?
Are we to believe everything that estate agents tell us?
This is what they do:
They tell us that properties have luxury fittings, when in fact they mean new.
You find the house is "cramped" but they say "cozy."
Another favourite after viewing 3 or 4 properties is "You won't find anything better."
Oh yes and then there are the tricks of the trade like arranging accidental coinciding viewings, so as to make the property look popular;
the agent may often get someone from the office to ring while taking a viewing and pretend that someone has just put an offer in.
The list goes on and on and on just like the verbal diarrhea that exits their mouths.
The thing that stings the most about these half wits swaggering around in their cheap suits is the fact that they are directly responsible for sky high property prices and extortionate rents.
The next time you go to spend that disposable income and you find that there is none think of the estate agent.
Really? Are we to believe everything that estate agents tell us? This is what they do: They tell us that properties have luxury fittings, when in fact they mean new. You find the house is "cramped" but they say "cozy." Another favourite after viewing 3 or 4 properties is "You won't find anything better." Oh yes and then there are the tricks of the trade like arranging accidental coinciding viewings, so as to make the property look popular; the agent may often get someone from the office to ring while taking a viewing and pretend that someone has just put an offer in. The list goes on and on and on just like the verbal diarrhea that exits their mouths. The thing that stings the most about these half wits swaggering around in their cheap suits is the fact that they are directly responsible for sky high property prices and extortionate rents. The next time you go to spend that disposable income and you find that there is none think of the estate agent. Smouldering Ewok
  • Score: 6

2:12pm Wed 27 Aug 14

Reginald47 says...

Note to all those estate agents who put leaflets through my door every week urging me to sell my house for a huge amout: I do not want to sell my house so leave me alone please.
Note to all those estate agents who put leaflets through my door every week urging me to sell my house for a huge amout: I do not want to sell my house so leave me alone please. Reginald47
  • Score: 15

2:17pm Wed 27 Aug 14

jammin says...

WilsunMarridge wrote:
Would be interesting to hear the definition of 'buyers' here. My friend has had his property on the market for 18 months - he has had a whole raft of so-called 'buyers' who turn up , make unrealistic and frankly insulting offers well below market prices and then turn nasty when they are refused. If the figures in the report include these jokers who seem to want us all to give our properties away, its not worth the paper its written on !!
Its either a) Poor condition b)in a bad area c) overpriced or d) full of tat and dirty. You choose.

Every house has its price.
[quote][p][bold]WilsunMarridge[/bold] wrote: Would be interesting to hear the definition of 'buyers' here. My friend has had his property on the market for 18 months - he has had a whole raft of so-called 'buyers' who turn up , make unrealistic and frankly insulting offers well below market prices and then turn nasty when they are refused. If the figures in the report include these jokers who seem to want us all to give our properties away, its not worth the paper its written on !![/p][/quote]Its either a) Poor condition b)in a bad area c) overpriced or d) full of tat and dirty. You choose. Every house has its price. jammin
  • Score: 6

3:04pm Wed 27 Aug 14

wormshero says...

SomethingForTheWeeke
nd?
wrote:
So what is wasn't like that a year ago when they were dragging their heels like trying to get a council officer to do some work. They waited until the market bottomed out so low, that they turned into bottom feeders. The amount of property procrastinators that were viewing houses was bordering on farce. You left it too late I have no sympathy 15 to 1 good ratio for house owners calling the shots. Interest rate in january good news for savers and pensioners. Sorry young ones we have had 6 years of covering your backs, now its our turn ?
6 years of covering young people's backs? Interesting view. I've spent the last 5 years (was a student previously) working, paying into the system which supports healthcare and pensions which are now having to pay out higher amounts than were paid in due to the cost of living going back and haven't taken a penny out - how exactly have you been covering my back. I have to rent paying money to an older generation because house prices are now ridiculous. I don't actually have a big issue with this (it's a bit annoying as I've been putting money aside the whole time and have by current house prices only just reached a 10% deposit amount for the average three bed, but I hold no grudges - I didn't buy when houses were cheap, because I was a child and almost certainly couldn't have legally owned a house, so clearly it's my fault), I just wonder how you've been covering my back while my wages prop up pensions and healthcare?
[quote][p][bold]SomethingForTheWeeke nd?[/bold] wrote: So what is wasn't like that a year ago when they were dragging their heels like trying to get a council officer to do some work. They waited until the market bottomed out so low, that they turned into bottom feeders. The amount of property procrastinators that were viewing houses was bordering on farce. You left it too late I have no sympathy 15 to 1 good ratio for house owners calling the shots. Interest rate in january good news for savers and pensioners. Sorry young ones we have had 6 years of covering your backs, now its our turn ?[/p][/quote]6 years of covering young people's backs? Interesting view. I've spent the last 5 years (was a student previously) working, paying into the system which supports healthcare and pensions which are now having to pay out higher amounts than were paid in due to the cost of living going back and haven't taken a penny out - how exactly have you been covering my back. I have to rent paying money to an older generation because house prices are now ridiculous. I don't actually have a big issue with this (it's a bit annoying as I've been putting money aside the whole time and have by current house prices only just reached a 10% deposit amount for the average three bed, but I hold no grudges - I didn't buy when houses were cheap, because I was a child and almost certainly couldn't have legally owned a house, so clearly it's my fault), I just wonder how you've been covering my back while my wages prop up pensions and healthcare? wormshero
  • Score: 13

3:30pm Wed 27 Aug 14

Weazelbum says...

Estate agents definitely help to inflate property prices. My parents are selling and have been advised to put it up for a ridiculously high amount as they know properties are in demand. I'm stuck renting and will be for some considerable time as amassing a gigantic deposit for an average house is just not feasible on NHS wages.
Estate agents definitely help to inflate property prices. My parents are selling and have been advised to put it up for a ridiculously high amount as they know properties are in demand. I'm stuck renting and will be for some considerable time as amassing a gigantic deposit for an average house is just not feasible on NHS wages. Weazelbum
  • Score: 7

6:46pm Wed 27 Aug 14

super waluigi says...

WilsunMarridge wrote:
Would be interesting to hear the definition of 'buyers' here. My friend has had his property on the market for 18 months - he has had a whole raft of so-called 'buyers' who turn up , make unrealistic and frankly insulting offers well below market prices and then turn nasty when they are refused. If the figures in the report include these jokers who seem to want us all to give our properties away, its not worth the paper its written on !!
But technically, your friend is the unrealistic one because the buyers dictate the value, not the agent or the seller. If they have not sold and been on the market for 18 months, they are probably over priced.
[quote][p][bold]WilsunMarridge[/bold] wrote: Would be interesting to hear the definition of 'buyers' here. My friend has had his property on the market for 18 months - he has had a whole raft of so-called 'buyers' who turn up , make unrealistic and frankly insulting offers well below market prices and then turn nasty when they are refused. If the figures in the report include these jokers who seem to want us all to give our properties away, its not worth the paper its written on !![/p][/quote]But technically, your friend is the unrealistic one because the buyers dictate the value, not the agent or the seller. If they have not sold and been on the market for 18 months, they are probably over priced. super waluigi
  • Score: 6

9:56pm Wed 27 Aug 14

TorreyCanyon says...

wormshero wrote:
SomethingForTheWeeke

nd?
wrote:
So what is wasn't like that a year ago when they were dragging their heels like trying to get a council officer to do some work. They waited until the market bottomed out so low, that they turned into bottom feeders. The amount of property procrastinators that were viewing houses was bordering on farce. You left it too late I have no sympathy 15 to 1 good ratio for house owners calling the shots. Interest rate in january good news for savers and pensioners. Sorry young ones we have had 6 years of covering your backs, now its our turn ?
6 years of covering young people's backs? Interesting view. I've spent the last 5 years (was a student previously) working, paying into the system which supports healthcare and pensions which are now having to pay out higher amounts than were paid in due to the cost of living going back and haven't taken a penny out - how exactly have you been covering my back. I have to rent paying money to an older generation because house prices are now ridiculous. I don't actually have a big issue with this (it's a bit annoying as I've been putting money aside the whole time and have by current house prices only just reached a 10% deposit amount for the average three bed, but I hold no grudges - I didn't buy when houses were cheap, because I was a child and almost certainly couldn't have legally owned a house, so clearly it's my fault), I just wonder how you've been covering my back while my wages prop up pensions and healthcare?
Well I'm approaching 60 Mate I don't get a state pension I live off savings and annuities. The last 6 years my pensions have been yielding between 5% slowly down to 1.5%. I think ive read something similar on here before, from a another reader, you sound like a later starter mature student to me ? We save and go without all our lives, to have all these live for today, stuff tomorrow types. I see all you youngsters whizzing around in your cars and whizzing stuff up your noses ! You say you have got £30 grand in the bank, how much interest are you getting for that mate 2%. I had a push bike mate and a scooter Honda 50 and an FS1E and a Ford Capri 1.3cc. Older generation you mean you are living with your parents surely ? I have two teenagers, I sound a bit like the older generation Landlord Bank Of Dad you are talking about ? I pay Private Healthcare mate and my Tabs, what part of your money is supporting me ?
[quote][p][bold]wormshero[/bold] wrote: [quote][p][bold]SomethingForTheWeeke nd?[/bold] wrote: So what is wasn't like that a year ago when they were dragging their heels like trying to get a council officer to do some work. They waited until the market bottomed out so low, that they turned into bottom feeders. The amount of property procrastinators that were viewing houses was bordering on farce. You left it too late I have no sympathy 15 to 1 good ratio for house owners calling the shots. Interest rate in january good news for savers and pensioners. Sorry young ones we have had 6 years of covering your backs, now its our turn ?[/p][/quote]6 years of covering young people's backs? Interesting view. I've spent the last 5 years (was a student previously) working, paying into the system which supports healthcare and pensions which are now having to pay out higher amounts than were paid in due to the cost of living going back and haven't taken a penny out - how exactly have you been covering my back. I have to rent paying money to an older generation because house prices are now ridiculous. I don't actually have a big issue with this (it's a bit annoying as I've been putting money aside the whole time and have by current house prices only just reached a 10% deposit amount for the average three bed, but I hold no grudges - I didn't buy when houses were cheap, because I was a child and almost certainly couldn't have legally owned a house, so clearly it's my fault), I just wonder how you've been covering my back while my wages prop up pensions and healthcare?[/p][/quote]Well I'm approaching 60 Mate I don't get a state pension I live off savings and annuities. The last 6 years my pensions have been yielding between 5% slowly down to 1.5%. I think ive read something similar on here before, from a another reader, you sound like a later starter mature student to me ? We save and go without all our lives, to have all these live for today, stuff tomorrow types. I see all you youngsters whizzing around in your cars and whizzing stuff up your noses ! You say you have got £30 grand in the bank, how much interest are you getting for that mate 2%. I had a push bike mate and a scooter Honda 50 and an FS1E and a Ford Capri 1.3cc. Older generation you mean you are living with your parents surely ? I have two teenagers, I sound a bit like the older generation Landlord Bank Of Dad you are talking about ? I pay Private Healthcare mate and my Tabs, what part of your money is supporting me ? TorreyCanyon
  • Score: -1
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