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Not bad from Wrigglesworth: -

"the figures show house prices have failed to respond to the recent interest rate cut.

While transactions have picked up a little this month, a further reduction in new buyers and a further increase in supply suggests no prospect of price rises in the near future.

It is a buyer’s market with discounts achieved as a percentage of asking price typically being well over 6%, equating to £12,000 savings on an average priced property"

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My favourite bit...

But despite falling prices market activity has increased by 4.1% this month suggesting some confidence has returned to the market, says Hometrack, although the number of new buyers continued to fall by 0.5% this month.

OK, so 'activity' up 4.1%, of which new buyers down 0.5%, so that means new sellers up 4.6%?

Edit: couldn't add up two numbers!

Edited by madenph

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My favourite bit...

OK, so 'activity' up 4.1%, of which new buyers down 0.5%, so that means new sellers up 5.1%?

no idea what that means..

perhaps activity is up 4.1% of which new (read FTB) are down .5%

activity isn't just a reflection of an increase in the number of properties on the market is it? surely it reflects actual sales?

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Poster on Motley Fool questionned the Hometrack figures....

Erm, they were 161,300 last month, (They fell £300 then), so 161,000 makes a 0.2% fall again, and the YoY figure shuld be -3.7%.  I have emailed the author of the IFAOnline article asking him how he arrives at a 0.1% fall.

and got this response....

I suspect you are probably correct Andrew but there may have been other factors involved in how the average was worked out I can to some extent only go with what the research says and while they were probably trying to put a positive spin on things the difference is not enough for me to make a big deal out of it or to turn it into a bigger news story. Were we talking differences of several percentage points rather than simply one, and that in itself rather an insignificant change, then I might have followed it up. However thankyou for your comments it is always good to hear from our readers on any subject.

:blink:

http://boards.fool.co.uk/Message.asp?mid=9...t=whole#9503931

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Poster on Motley Fool questionned the Hometrack figures....

and got this response....

:blink:

http://boards.fool.co.uk/Message.asp?mid=9...t=whole#9503931

That sounds fair enough; my limited experience of journalism is that if you are going to question a source in print you better be pretty sure and make sure it's newsworthy. This isn't really newsworthy - can't see them splashing "Estate Agent source for house price figures 0.1% out!!!" on the front page, and they'd probably get angry phone calls from Wriggly.

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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