Thursday, Jan 18, 2007
NAEA optimistic for 2007
Firstrung: First time buyers decreased from 16.4 percent - 10.4 percent in the final quarter of 2006 - NAEA
Members of the National Association of Estate Agents (NAEA) reported an encouraging end to what has been, in many areas of the country, a good year for the residential housing market as the number of those registering an interest in buying property increased, despite December being traditionally the slowest month of the year in estate agency.
Posted by converted lurker @ 11:03 AM (159 views) Add Comment
7 Comments
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1. Tinecu said...
Optimistic? Barking, more likely! The reality is probably more like "NAEA terrified about prospects in 2007".
CL. Can't you temper these positive spin press releases a little more?
2. Dohousescrashinthewoods said...
All sounds quite steady. I thought I had seen that prices dropped 1% in December, but figure that's seasonally adjusted?
I noted that "Early indications are that January has seen a significant increase in new instructions" - will this be more marked than the expected seasonal change? Could it be BTLs starting to run down portfolios?
Who knows. No point holding breath I guess.
3. tyrellcorporation said...
Too many false dawns I's afraid. Question is, can the property market flourish with virtually no FTBs. If it can, this is a massive shift in market fundamentals and we will most definately return to Victorian levels of inequality - all under a 'socialist' government too!!!
4. enuii said...
Are there any genuine Socialists in TB's Government?
5. magnifico said...
enuii, unfortunately Labor have been voted in three times precisely because they've rejected their Socialist background. At the moment the appetite for real socialism is at a low, with a general public that has bought into the 'Greed is good' capitalist motto.
For how much longer....
6. Nohpc said...
The property market can flourish without FTBs. It is doing so at this very moment in time if you think about it. The Spanish property market has an even lower FTB market than ours.
7. Dohousescrashinthewoods said...
Just heard of two separate people who have decided to downsize their house because the mortgage is getting too much. We are talking Guildford, where the norm is mummies with Chelsea tractors bought on credit in 300K-0.5M houses.
We may well hear VI fanfares of much activity in the housing market, but it may not be BTLemmings and FTBs, rather people trying to downsize in a hurry.
To complete the picture, I also heard of someone in the financial sector (which is doing well with all these 1M+ bonuses, right?) who has been made redundant. Apparently economic conditions aren't so good after the rate rises and the company is getting rid of people.