Jump to content
House Price Crash Forum
Sign in to follow this  
monks

Fears Grow As Autumn House Sales Flatline

Recommended Posts

http://www.building.co.uk/5006499.article?origin=bldgweeklynewsletter

Fears of a second crisis for housebuilders were growing this week after sales data showed that the hoped-for autumn recovery had failed to materialise.

Building understands that confidential weekly sales figures collected by the Home Builders Federation (HBF) from its members show that transactions in September are only marginally above where they were in the same month in 2008, when the credit crunch was at its worst.

The news comes as the NHBC recorded its lowest level of daily sales since records began in 1998.

Industry figures said the low level of sales reflected nervousness on the part of buyers and their banks over the economic outlook.

One director at a large housebuilder said: “Sales just haven’t come back at all - there’s been nothing. I’ve talked to all our competitors - Bellway, Taylor Wimpey - they’re all saying the same thing.

“A housebuilder confirmed the HBF figures show that the rate of sales in September has fluctuated between 0.35 and 0.38 per active site per week, compared with 0.7 in the boom. This is the same level as recorded since July, and only slightly above the sales per site recorded in September 2008. It is down sharply on the figures recorded in September last year.

Roger Humber, strategic policy director of the House Builders Association, said: “All the information shows the situation is really bad and it’s getting worse. It’s quite clear the seasonal upturn has simply not happened.

“Sales figures for listed housebuilders have weakened since the start of the year, but so far most have blamed this on the usual summer slowdown in sales.

August data from the NHBC showed that home starts fell from 10,638 in July to 9,954; daily sales fell to 242, the lowest figure since the start of the credit crunch. Housing data firm Hometrack said prices fell 0.4% in the month.

An analysis carried out by the Financial Services Authority showed that house prices could fall “significantly” if proposed changes to mortgage regulations were carried out.

However, the HBF weekly data is the only information on the autumn selling season.

The HBF declined to comment on the figures, but said: “Mortgage availability is still an issue and there’s concern about spending cuts. There’s no question about the long-term demand for homes, however.”

A bit like saying "There’s no question about the long-term demand for oxygen, however"

Share this post


Link to post
Share on other sites

http://www.building....eeklynewsletter

Fears of a second crisis for housebuilders were growing this week after sales data showed that the hoped-for autumn recovery had failed to materialise.

Building understands that confidential weekly sales figures collected by the Home Builders Federation (HBF) from its members show that transactions in September are only marginally above where they were in the same month in 2008, when the credit crunch was at its worst.

The news comes as the NHBC recorded its lowest level of daily sales since records began in 1998.

Industry figures said the low level of sales reflected nervousness on the part of buyers and their banks over the economic outlook.

One director at a large housebuilder said: "Sales just haven't come back at all - there's been nothing. I've talked to all our competitors - Bellway, Taylor Wimpey - they're all saying the same thing.

"A housebuilder confirmed the HBF figures show that the rate of sales in September has fluctuated between 0.35 and 0.38 per active site per week, compared with 0.7 in the boom. This is the same level as recorded since July, and only slightly above the sales per site recorded in September 2008. It is down sharply on the figures recorded in September last year.

Roger Humber, strategic policy director of the House Builders Association, said: "All the information shows the situation is really bad and it's getting worse. It's quite clear the seasonal upturn has simply not happened.

"Sales figures for listed housebuilders have weakened since the start of the year, but so far most have blamed this on the usual summer slowdown in sales.

August data from the NHBC showed that home starts fell from 10,638 in July to 9,954; daily sales fell to 242, the lowest figure since the start of the credit crunch. Housing data firm Hometrack said prices fell 0.4% in the month.

An analysis carried out by the Financial Services Authority showed that house prices could fall "significantly" if proposed changes to mortgage regulations were carried out.

However, the HBF weekly data is the only information on the autumn selling season.

The HBF declined to comment on the figures, but said: "Mortgage availability is still an issue and there's concern about spending cuts. There's no question about the long-term demand for homes, however."

A bit like saying "There's no question about the long-term demand for oxygen, however"

Indeed. It gets bloody cold in the winter without a 'home'.

Share this post


Link to post
Share on other sites

Explains why BDEV and other house builders are having a bad Friday - where is Bubb when we need him?

Banned?

Spiney.

Share this post


Link to post
Share on other sites
August data from the NHBC showed that (...) daily sales fell to 242, the lowest figure since the start of the credit crunch.

Yet more evidence of a falling market.

Share this post


Link to post
Share on other sites

Explains why BDEV and other house builders are having a bad Friday - where is Bubb when we need him?

I thought he requested a ban if the mods wouldn't do what he demanded.

yep, think it was something like that

He asked the mods to ban Little Professor, or ban him

They banned him

Share this post


Link to post
Share on other sites

He asked the mods to ban Little Professor, or ban him

They banned him

I enjoy DB's posts, but that is amusing.

LP is usually on the News page, rarely here.

There has been a lot of petulance on this site lately, n'est-ce-pas?

Share this post


Link to post
Share on other sites

Notice the Hovel Builders Federation mentioned nothing about paying top whack for cheap shit on a postage stamp being a factor.

There was always going to be a day when people refused to debt-up to pay for their little slice of these "house builders" land bank. Maybe this is really it.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 150 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%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.