Friday, Apr 27, 2007
True figure of FTBs - 12.6%?
Firstrung: First time buyers held steady on their market share in March, claiming 12.6% of the market - NAEA
Figures released by The National Association of Estate Agents (NAEA) from its March housing market survey have revealed a levelling of activity in the residential housing market... The market was seasonal in March, with buyers, sellers and completed house sales all at a similar level to the same period last year. March is traditionally a busier time in estate agency than February and the March figures reflect this, with a slight upturn in activity from last month.
Posted by converted lurker @ 12:10 PM (170 views) Add Comment
4 Comments
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1. dohousescrashinthewoods said...
"slight upturn in activity from last month" appears to suggest the market hasn't picked up as expected?
2. Scott said...
It does not matter how they write it up. It is only heading one way. Even if you did want a crash but changed your mind, it is going to happen anyway. It is just a matter of how quickly and by how much and how long it will take to recover.
3. uncle tom said...
Those of us who are old enough to remember the last housing bubble in the late eighties will remember that Aug 1st 1988 was a key date in that it marked the end of dual tax relief on mortgage interest payments. This prompted a sudden frenzy to buy, as those who got in before the deadline could continue to enjoy the benefit.
It also became the date on which the property boom came to an abrupt end in the south of England (it took another year to peter out elsewhere)
The introduction of HIPs is not as big a deal, but it could also prove to be the fulcrum in the market.
The continuing low level of FTB's shows how utterly dependant the market is on BTL speculation. With rising interest rates, and the property boom visibly falling apart in the US, Eire and Spain, the BTLers may begin to lose enthusiasm..
Remember that the BTL brigade don't have to start selling for the market to collapse - they merely have to be dissuaded from buying additional properties..
4. Cheekie Charlie said...
Good. 12.6% geniune buyers 87.4% speculators in it for the fast buck. All the fudamentals are now in place for a crash in the Summer. Lets hope the speculators all have a holiday home in Spain to go shead their tears!