Thursday, Jun 18, 2009
Hpc is over ! Emmm
Yahoo: Househunters 'flood' back to market
There were four househunters chasing every property for sale during May as potential buyers continued to flood back to the market, research has suggested
Posted by happy mondays @ 08:46 AM (1116 views) Add Comment
11 Comments
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1. japanese uncle said...
Thousands of 'Shotaros' flooding the market, only to be snatched to a better world to meet their Maker.
2. will said...
Bet they will all seek a good discount to buy.
3. peter_2008 said...
At the height of the Madoff Ponzi Scheme, it was reported that there were 4 applicants competing for each new membership. Madoff used "by introduction only" strategy to preserve the "privileged" image of his crime.
The EAs are basically dividing the number of registered people by the number of properties on market. 299/69=4.3 That isn’t scientific even by the disgraced standard of UK GCSE level Math. But I suppose being college-dropouts, this is probably the best numericy competence that the EAs can manage.
I register with about 2 dozen Agents. It’s easy. You just need to email them. You don’t even have to give your real name. I got registered as Mr Boris Johnson from London.
4. tyrellcorporation said...
Anecdotally:
Exeter has been in a mini-boom over the last 3 months but my take is now that the market is totally flat. The spring bounce has hoovered up all available property and there is now precious little for sale. Cash buyers have largely fired their canons and as the mortgage market is tight and getting tighter I can't see where the next wave of buyers will come from. There are virtually no 'for sale' signs as vendors wait for the the miracle house price recovery which has been talked about ad-infinitum. IMO this stand-off will crucify EAs over the next 6 months and prices will resume the downward trend in late summer and into autumn.
It seems the well posted graph showing seller sentiment is absolutely spot on. We've had denial and now heading to into capitulation, etc.
5. Papabear said...
"In a further positive sign, the proportion of homes sold to first-time buyers soared to 43%, ..."
but then further on:
"... But the NAEA said the vast majority of buyers also had a property to sell, which they had not yet put on the market, and in time, this would help to reduce the shortfall."
So on one hand 43% (nearly half) of buyers are FTBs but at the same time the "vast majority" (in my book that means > 80%) are not! Normally, I'd be confused by this but seeing as how this "research" has come from the NAEA, nothing surprises me...
6. brightonrentfodder said...
yeh I saw EA office in brighton up for rent this week. Looking good.....
7. mander said...
Nothing sells I have been watching some properties on rightmove and no chance. Buyers may think thay would get meoney from the bank just in case they find a bargain but NO. The banks will not lend to them.
I think we are heading towards US problems for the next Goverment to sort out.
8. george monsoon said...
Where are people getting the money from?
Simple question I know, but where? Even on a decent reduction, you still need a massive wad of your own cash to secure a mortgage..
9. Neil B said...
This is just a play on words and statistics. It:
a) Doesnt make comparisons to the usual market: 4 hunters to 1 house is probably a tiny ratio compared to a normal market
b) Doesnt say that the properties are selling "Chasing every property for sale..."
c) Doesnt say there are any buyers "househunters / potential buyers'
10. alan said...
I heard the CML saying that gross lending actually dropped 2% in May (half last May's amount)!
So many Vested Interests....
11. 51ck-6-51x said...
Once again a flawed headline.
Registering with an EA has no bearing on interest in specific properties. Someone may register because they want to see one of the properties on the books, others may wish to get an email as soon as new properties come onto the market in order to look out for their ideal one. Especially in this market.
Headline should read "Interest in property picks up" or "Registrations at EAs on the rise"... hmm