Monday, Apr 30, 2007
Housing supply overtakes demand
Telegraph: Housing supply overtakes demand
Supply has overtaken demand in the housing market for the first time in a year. A glut of new properties has come to the market this month, pushing the number of new listings up 5.7pc nationwide, according to the latest housing survey from Hometrack. The number of buyers coming to the market rose by 4.4pc in the same period.
Posted by mc @ 01:08 PM (30 views) Add Comment
5 Comments
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1. Frank said...
Finally, the bubble is slowing going flat!
2. Frank said...
Finally! the buy to let market is starting to panic, give a few months and all hell will break loose.
3. Disillusioned said...
I'm guessing this is mainy due to HIPs.
4. Davros said...
In February hometrack issued a report entitled 'No immediate end in sight for house price rises as supply looks set to tighten further'.
Yeah, nice one.
5. Cheekie Charlie said...
This is interesting and the first evidence that these ridiculous HIPs could cause the market to "trip". With the deadline to put property on the market by June and hopefully a 0.5% rise in interest rates on the 10th of May this would definitely shock the market and would result in an immediate drop in HPI. Its interesting that the problems in US and Eire are very slow to feed through the media and general sentiment but when the Brits in Spain and people with holiday appartments (flats) are affected then this seemed to shock the media into front page headlines. I think when all these problems compound in the following months this will result in a terminal decline which has the potential to last a generation - lets face it glorious sunshine you really didn't think that bachelor pad with a few cheap bricks glued together with compo was ever worth that ridiculous sum of money you paid for it did you?