Estate agents inundated with new buyer enquiries

[Property Prices]

According to the UK’s largest property website, Rightmove, estate agents are inundated with new buyer enquiries.Rightmove said new buyer enquiries increased by a record 108% last month, compared with the same month a year ago.Halifax’s latest house price survey revealed that over the last year, house prices have fallen by 17.2%, which, according to Rightmove, [...]

More: Estate agents inundated with new buyer enquiries

[property investor]

I recently heard that property prices increased last month which is great news that the property market is looking positive again and ultimately making buyers feel more at ease with the property market. I think that this is a positive move for the future and hopefully this will be spread across the buy to let market, first time buyers and people moving up the market.

[Kaz]

I agree with that. A couple of weeks ago I rang an EA to make an appt to view the property I'm currently buying and had to wait almost a week as they were so busy! In fact, they had had to bring in another member of staff to cope with the number of viewings.
Not sure whether the potential buyers are first time buyers or mainly investors/developers snapping up all the bargains! All I know is that the competition seems to be hotting up, at least in the area I'm looking (North Wales). In fact, having had my offer accepted by the lender, the same day the notice went in the paper, another cash buyer put in a higher offer and I had to increase mine to secure it.
Anyone else experiencing more competition?

[Ronny]

I do think people are getting an appetite back for buying for buying property however to say things are looking positive for the housing maket could be a little optimistic.

It is still difficult to obtain mortgages at higher Loan to Values or if applicants have a patchy credit rating. This will always have an affect on the amount of trasactions seen each month

[the good advice guy]

there has been considerable press coverage about managing agents inflating premiums


call me to discuss

Originally Posted by property investor

I recently heard that property prices increased last month which is great news that the property market is looking positive again and ultimately making buyers feel more at ease with the property market. I think that this is a positive move for the future and hopefully this will be spread across the buy to let market, first time buyers and people moving up the market.

[googler]

Managing agents = Letting Agents?

Inflating what kind of premiums?

[Property Cashpoint]

Hi Kaz,

I agree. Several of my friends here in London have been biding their time saving up deposits and have now started to look for bargains. Apparently according to them estate agents do seem to be quite busy.

[Property Investment Leads]

Hi everyone,

First post here, so just want to say hi first..

Interesting discussion... I think it's always in Rightmove's best interest to regain buyer confidence by shouting how much buyer enquiries have risen. People are always up for a bargain, the main issue here is whether enquiries translate in sales. The restricting mortgage market is limiting this. Even though prices are falling, the high LTV means first time buyers are not necessarily in a better position to buy.

[sr2]

Originally Posted by Property Cashpoint

Hi Kaz,

I agree. Several of my friends here in London have been biding their time saving up deposits and have now started to look for bargains. Apparently according to them estate agents do seem to be quite busy.

A lot of my friends have also been waiting to jump on. There certainly seem to be a lot more property on the estate agents books