Friday, Nov 17, 2006
FTB numbers up? Enquiries/applications certainly are...
Firstrung: First time buyers 'bounce back' in October - NAEA
First time buyers made a dramatic return to the housing market in October increasing their market share to an encouraging 16.4%; this is up from 11.1% in September. This is the highest percentage of first time buyers reported since April 2005 when first time buyers accounted for a healthy 23.6% of the market. This increase could be akin to a slow down in the market with first time buyers taking advantage of a decrease in buyers on books. However, the interest rate rise will certainly work against this vulnerable sector.
Posted by converted lurker @ 12:42 PM (140 views) Add Comment
13 Comments
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1. uncle chris said...
Lambs to the slaughter I'm afraid. When you realise that we have the highest GDP debt in the developed world, you start to realise just how precarious this countries financial position is. And I'm afraid it will be the last lemmings who dive into the current madness who will have the most to lose and, and will pay for it most likely for the rest of their lives.
2. Ejc75 said...
A meaningless %. Why don't they tell us what the actual number is ? I work in quant market research and i can make % and averages mean what the hell i like as long as it sells the story i want it to.
3. Bubbles. . . said...
Total idiots. The last leap of faith into property obviously pressured into the bubble just on the brink of when the pin will be pushed in with higher rates on the agenda. How many have thought about the commitment of a 25 year mortgage, and think that intrest rates will surely not go up again! Ho Ho.
4. Earth said...
'Housing stock replenished slightly in October with an average of 64 properties for sale per agent, up from 61 in September, a 4.9% increase. This is also a 4.95 increase from October 2005.'
This artical exemplifies how insignificant these statistics are. A 4.9% increase equates to an averaged figure of 3 extra houses up for sale per agent.
5. Scumbag said...
Is this because 'return buyers' are regarded as FTBs now?
6. Rubberneck said...
...yes yes, but what's with all the pointeless stats? Reading this has the same effect on me as listening to the SFL division 3 results. East Fife four, Montrose 2......zzzzzzzz. Oh I forgot, he's an estate agent. Spouting boring twaddle is his vocation in life.
7. Bubbles. . . said...
Oh dear..The last panic for 1st time buyers piling in to keep Gordons miracle economy going..! Guess we are all going to work for Tescos soon.. Cos there the only jobs that will be available...
8. Bubbles. . . said...
All going to end in misery....
9. Surfgatinho said...
Quick, pile in before it all goes tits up!!!
10. tyrellcorporation said...
Utter Bollox - excuse my Westcountry!!!
These are most likely people who sold to rent a few years back and have finally caved in for fear of never being able to afford a house in their own country again. There was a mention about 8 months ago that EAs are distorting the definition of a first time buyer - First time buyer now seems to actually mean someone who not too long ago owned a home. Bizarre indeed...Don't believe the hype!
11. Bfskinner said...
on the books does not mean they will buy. With interest rates on the up, and the traditional winter slow down approaching, I recently thought I'd test the waters of below asking price offers, to see where my local market is at. Unfortunately it is not at the level I would want, so I'm not buying and knew I was unlikely to do so. However, this does not stop me being counted by the agents as returning to the market. I wonder if I have been counted in once or by each agent. If the later then I may actually count as 5 people returning. just a thought. Thre main pint is that these figures do necessarily tell us anything, beyong putting some confidence into the market.
BFS
12. Enuii said...
I am watching children in need cos if they don't raise more money than last year it is tangible proof that folk are starting to hang on to their pennies. When people stop giving to charity then a recession/crash is on the cards.
13. Albertino Albertini said...
Fook's sake. Can these people please stop being so damned stupid?