Justlookin

In Rugby property is simply not selling. Doesn't matter what!

Of course there are a few sales but you can tell how bad it is when 3 agents have closed and another has reportedly made its staff redundant.

It's not a question of hard bargaining by would be buyers, you never get that far. The agents are not getting enquiries and folks looking on the internet sites such as RightMove do nothing than just look at the sites.

New builds are now being advertised to let. I've no doubt most of you have read about the major firms laying off workers. What this hides is the fact that they are also stopping work for their sub-contractors as well.

SO

This is undoubtedly having a negative effect on the amount of folk able to buy in Spain or even to rent if they were going to use the equity in their UK property to fund this.

Has this been more noticeable over the last couple of months in Spain?

I read some months ago of some agents closing but most of those whose sites I have looked at over the past 18 months still seem to be around.

What is happening currently in the off-plan property world? As many who would have thought 12 months ago that their UK property was an easy sell are now finding that not to be the case and cannot complete the purchase of their Spanish property has this become another insurmountable problem for the builders?

Mitzyboy

Sold our house in Bishops Itchington nr Rugby 2 years ago, just at the right time I guess.

I went down to Oliva to get some local agent rental details, and noticed two of them have closed down here

Justlookin

Would you believe it - got home and the Agent phoned,our 3rd viewing this Saturday. Guess what, we are visiting our youngest son in London and have got to leave the in-laws to let the agent and possible buyer look around!!

Yes, you would find the property market around here much different now. The only folk so far wanting to view our home have been re-locating not up-sizing in the same area.

Justlookin

Wow,

I had no idea it was this bad.

http://www.thisismoney.co.uk/news/ar...5&in_page_id=2

The main point of this post is however, if you are thinking of selling, drop your price now (a lot not a little) or be prepared to sit it out not for months but a year or two. Doesn't stop us coming on holiday to Spain does it.

Econ

Here in the Fuengirola / Marbella part of the coast the slump in property sales is very obvious, estate agents are closing down and dissapearing as quickly as they appeared a few years ago but....

I have 25,000 mts of land with a small ruin on it about 1klm from the Village of Jubrique in the mountains up behind Estapona, a couple of weeks ago I decided to put it up for sale, I know the market wasn't/isn't great but we decided to put it on the market, 100,000 Euros was the figure I had in mind as a minimum sale, so... I contacted several agents about it:

Some of the agents where eager to get it on their books as I would have expected, not directly because of a finca and ruin etc. but because times where difficult for them and so I thought they would be falling over themselves to get another not so common type of property onto their books as sales are mostly all apartments and villas etc. but I was taken by surprised by a couple of agents....

One said he would need to 'on average' make 6 visits to the finca, 45 minutes there and 45 minutes back, so it wasn't worth him trying to sell at 5% commission!

Another 'after research' said I should try 145,000 Euros + 5% commision (152,000), I replied asking if they would consider 4% commision and they never came back to me, don't answer emails now, so I guess they decided I was being cheeky and stuff me!

So, maybe the market isn't as bad as I think it is!!!!!!! and these two agents are not thinking of closing down... well maybe not at the moment but with an attitude....!

mikelincs

Loads of properties that had 'for sale' signs round here no longer have them on, not because they have sold.. but because they just cant sell, so have taken them off the market and/or put them out for rental. Rental prices are dropping, or at least not increasing, because of the numbers of properties available.

Econ

Yes, they are fortunate they where not in the position of needing to sell so I guess these where on the market in the hope they would touch the lottery! this is the type of property that is best * not * on the market really, hopefully the current climate will clear/root out a lot of this stuff as it seems to be doing in your area... no point in having properties on the market at elevated prices for the climate.

george43

U.K.news this morning. Mortgage lending last month was the lowest for 2 years. Not 10 years or 20 years ,just 2 years. Also I see that one bank has just lowered it's mortgage rates so it isn't all bad news.