80 Percent Drop In House Sales In Sa2 Since July

[The Masked Tulip]

I was a bit surprised, happily, to see 64 houses come on the market in the past 24 hours via Globrix this morning in my target area.

I was looking at their figures and their 'Sold Per Month' is showing, for SA2 postcode, an 80 percent drop in house sales between July to August, detached down nearly 77%, semis down nearly 78%, terraces down 80%.

That is a collapse in sales is it not? Or am I reading this wrongly?

http://www.globrix.com/property-details/28594408-rural_way-sketty-sa2-5_bed-penthouse

[AteMoose]

better to look at home.co.uk selling prices and sold quanities which are extracted from the landregistry, other metrics can bounce all over, better to use actual sales?

http://www.home.co.u...ation=sa2&all=1

Properties sold in SA2

Edited October 20, 2010 by AteMoose

[The Masked Tulip]

better to look at home.co.uk selling prices and sold quanities which are extracted from the landregiestry

http://www.home.co.uk/guides/house_prices_report.htm?location=sa2&all=1

Properties sold in SA2

Thanks for that graph - alas, when I see things like that my eyes glaze over and all I see is a pretty image that I think would look nice hung over my mantle-piece.

Edit:

But I noticed that only goes up to Jan 2010.

Edited October 20, 2010 by The Masked Tulip

[AteMoose]

Thanks for that graph - alas, when I see things like that my eyes glaze over and all I see is a pretty image that I think would look nice hung over my mantle-piece.

Edit:

But I noticed that only goes up to Jan 2010.

It goes upto July 2010, house sales take three months to come through because thats how long it can take to sell a house and get all the data collated. Glazed over? bigger bars == more sales, the number is the actual number of sales (ie july 2010 was 50 property sales in that postcode), sales are up until july 2010 but not as high as the bubble... If you want it as a percentage sales are up 400% since the trough...

Edited October 20, 2010 by AteMoose

[The Masked Tulip]

Thanks - the collapse appears to be nearing.... both form graphs and from the word from EAs.

Overheard another sale falling through because of valuation by bank in Swansea West when I was in an EA office last night. Heard one EA on phone talking to another saying that the asking price was well above the surveyor's valuation but, alas, she then hushed up and said she would call the colleague back later - presumably because I was in the office.

[tahoma]

That is a collapse in sales is it not? Or am I reading this wrongly?

Who in that area has the money and intent to buy those houses at that price? Port Talbot millionaires?

Houses prices will fall to reflect local wages and prospects. Until then, volumes will collapse.

[The Masked Tulip]

Who in that area has the money and intent to buy those houses at that price? Port Talbot millionaires?

Houses prices will fall to reflect local wages and prospects. Until then, volumes will collapse.

I hear you, I believe you are right, I hope you are right.