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Rics Data. See Links

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``Sales are up by 7.5 percent since February, indicating a return of confidence to the market,'' said Jeremy Leaf, a spokesman for RICS. ``The big question is whether the market is just stabilizing or if this is the beginning of a sustained revival.''

..or just a dead cat bounce on the way down....

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You would expect the number of transactions to rise as BTL investors start offloading property as prices drop as well as STRs - there is a huge amount of property for sale. The RICS data is actually pretty meaningless unless it indicates prices as well as volume - an accurate statement would be "Sales are up by 7.5 percent since February, which you would expect with the glut of property around and the tumbling prices"

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Guest consa

"Sales are up by 7.5 percent since February"

Would this be volume or mortgage amount ? We know that higher value properties are distorting the figures.

or they sold 107 properties instead of 100, probably EA's buying between themselves to keep the market going.

Edited by consa

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Guest muttley
"Sales are up by 7.5 percent since February"

Would this be volume or mortgage amount ? We know that higher value properties are distorting the figures.

or they sold 107 properties instead of 100, probably EA's buying between themselves to keep the market going.

The BBC reported this as a 8% rise.But as I pointed out on another thread,August is 10.7% (11% if you want to round up) LONGER than February.

So if you wanted you could report this "Sales were down on February 2005"

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Comedy comments from my region:

Jeremy Leaf - main RICS spokesman (and my local ESTATE AGENT):

Solid improvements in August as value/number of new transactions proceeding and exchanges of contracts increased considerably on July and this time last year. Number of new applicants registering increased too although there are signs cautioun remains as transaction periods lengthened. A better test of longer term market strength is likely to be seen in September when many prospective buyers and sellers return from holiday.

Meanwhile, down the road, James Scott-Lee said:

Other agents are not being realistic. They value high to get instructions, reduce fees just to expand register. These properties are not sold at these prices. Only properties that are being sold are where vendors are realistic in their pricing.

Who COULD he mean?

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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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