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Tenubracon

Rics: It's The Snow Wot Done It.

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Yes the awful December figures were all donw to snow. Who'd have thought it?

http://www.bbc.co.uk/news/business-12206936

That's why we have experts. If they didn't explain these things, we might all get confused.

After all we went house hunting when the "Is You Journey Really Necessary?" notices were out. And we got dozens of viewers who didn't mind leaving their car quarter of mile away and walking the rest through 2 foot of snow. So it never occurred to us that others might not be so lucky.

Of course, those of us who didn't get all those viewers, even before the snow came, might have thought the economic conditions and the mortgage famine might have something to do with it. Clearly we will be reassured by having RICS telling us it was all down to the snow.

Relief all round.

db

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Yes the awful December figures were all down to snow. Who'd have thought it?

http://www.bbc.co.uk...siness-12206936

The full RICS report:

http://www.rics.org/...leExtension=PDF

The balcance has gone up slightly becasue more surveyors haven't seen any change. The number seeing and increase also fell!

Edited by koala_bear

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Im sure the snow must have had an effect on number of sales.

The snow will have had no affect on prices though. You dont pay less for something because it's snowing.

Not if you are being thoroughly rational about it, but how many people are thoroughly rational about buying a house? You look round a house when you're already cold, tired and cross - you'll see all the faults and knock a couple of K off your offer.

The snow is unlikely to have much effect on supply, but a reduction in the number of buyers should have an effect on prices - basic supply and demand.

I'm betting that in some cases the snow also affects the mood of the vendors - people are less optimistic when it's cold and dark - and they might simply find it easier to believe that this is as good as it's going to get.

I imagine that anyone looking at a house where the road isn't properly cleared are going to be more sceptical about those "good transport links" mentioned in the brochure. One place we nearly bought was in a village with an excellent bus service - but only when the roads could be cleared. It was cut off for a couple of days.

Another place, also very much in the running, had the benefit of being only a few minutes walk from the centre of town. We didn't mind the hill, as there was a good set of steps most of the way. During the snow we realised that ice on those steps could have made a serious difference to non-car transport, and the road conditions wouldn't have been good either. :o

Oh yes, the desirability of a place can diminish in bad weather, and desirability affects price.

db

Edited by deeplyblue

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  • 311 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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