Tuesday, May 11, 2010
The devil is in the detail: Sales DOWN, unsold stock UP
RICS: RICS housing market survey: April 2010
Reading past the spin, in this months "report" actual sales are DOWN, new vendor instructions are UP, unsold stocks are UP.
This doesn't bode well for future prices, and indeed this is borne out in the none bullish "Expected change in prices" chart on page
3.
Not sure why the Times & BBC are using this poor report as a bull piece.
Posted by doomwatch @ 10:56 AM (1104 views) Add Comment
7 Comments
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1. wdbeast said...
doomwatch, I think you have posted the March report by accident, the April report is here.
http://www.rics.org/site/download_feed.aspx?fileID=6578&fileExtension=PDF
2. mark said...
Sebastian the Estate Agent
I was performing rounds at the hospital one morning and while
checking up on a man I asked . . ...' So how was your breakfast
this morning?'
'It's very good except for the Kentucky Jelly. I can't seem to
get used to the taste.'. . Sebastian replied.
I then asked to see the jelly and Sebastian produced a foil packet
labelled 'KY Jelly.'
True story from a Doctor
3. smugdog said...
Oh...ahh.....stop it Mark, my ribs hurt.
4. inbreda said...
that is a beautiful, beautiful chart.
shows a lovely trend
5. justwatching said...
More buyers looking to commit to a
purchase in belief that prices have
reached the bottom of the price
cycle
6. Positivo said...
I have been looking for a property to buy for the last year and a half. I went to Crewkerne last March 2009 and just missed out on a 2 bdrm house which sold at auction for 75,000. It didnt look too bad, just a quick cosmetic job really. Just saw it today at an estate agents for 119,000. Thats an increase of 63% by my calculations. Its also called taking the p**s.
Lets hope Cameron can bring Britain and house prices back to reality, raise interest rates and allow people the right and capability to buy a home, and let the BTL addicts go cold turkey.
7. paul said...
@smugdog
Have another look at the chart. you are about to face the sum of all your fears.
I seriously think there should be an investigation into how the press and BBC have been influenced and what personal interests have been at play over the last five years in relation to their reporting of property price movements.
It would be called state media corruption in hot countries ...