Monday, June 13, 2011
“Prices Stall as Buyers Harder to Find”
Asking Price Index June 2011
The mix-adjusted average Asking Price for homes on the market in England and Wales remains unchanged since May. Home prices fell 0.2% in Greater London over the second quarter. The number of properties reduced in price last month surged to 88,815, 34% more than in May 2010. Typical time on market has increased 2 days to 109 days (median) since May and is now 16% longer than in June 2010. Supply of new properties to market fell back ca. 5,000 to 129,726 in June, 2% less than in June 2010. Annual change in asking prices: -0.8% 6-month change in asking prices: 0.4%
Posted by dill @ 10:49 AM (2120 views)
6 thoughts on ““Prices Stall as Buyers Harder to Find””
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mark wadsworth says:
“Supply of new properties to market fell back ca. 5,000 to 129,726 in June”
Assuming that means new listings for a whole month (and not just the first 12 days of June) and assuming the same number of listings in June as in any other month, that equates to about 1.5 million over a year, and sales are down to half that figure, aren’t they?
So clearly potential sellers are holding out for silly prices if (by subtraction) half of them just stay on the market for ever or get withdrawn again.
doomwatch says:
FINALLY capitulation has started …
“The number of properties reduced in price last month surged to 88,815, 34%
more than in May 2010.”
doomwatch says:
“…bearing in mind that home prices appear to have already stalled, this
could be the beginning of a new downward trend for the UK property marketplace.
What is certain is that a market contraction at this time of year is highly surprising
and suggests that activity in the all important Summer months for property sales
may well be more subdued than last year.”
“Historically, falls registered by the UK Home Market Indicator portend falls in
home prices over subsequent months and in that sense this measure can serve as an
important forward indicator of market strength.”
rantnrave says:
All so unexpected…
Shame this report doesn’t get greater coverage because it’s normally lacking in VI spin (which is probably why it doesn’t get picked up)
str 2007 says:
Page 4
Average asking price in south east is £285k up 2.2% from march 2010.
Unusual for them to compare march 2010 with July 2011 ?
I think typically houses sell in the 95-97.5% of asking price in my area, maybe that’s 5% less now.
hpwatcher says:
“Supply of new properties to market fell back ca. 5,000 to 129,726 in June”
I am seeing more and more new properties in the areas where I have been looking – not seeing a fall in numnbers yet. Prices are just as stupid as always.