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Sluggish Start For Housing Market In 2011

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% change in new buyers registering with agents -4.3(Nov10) -4.8(Dec10) -9.5 (Jan10)

% change in volume of property listings -0.4(Nov10) -1.5 (Dec10) -5.4 (Jan10)

though huge changes in Jan figures for these..

http://www.hometrack...ey/20110127.cfm

So properties for sale are still ahead of those registering to buy...... looks like continuing falls, smells like continuing falls, feels like continuing falls so it must be HOUSE PRICE BOOM-A-RAMA!!!!!!

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Still, though... 92% of asking prices being met... :(

Crazy isn't it, I wouldn't have thought that even in boom times, let alone now.

However, there is a definite trend.

Aug 2010: 93.5%

Sep 2010: 93.2%

Oct 2010: 92.7%

Nov 2010: 92.4%

Dec 2010: 92.1%

Jan 2011: 91.9%

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Crazy isn't it, I wouldn't have thought that even in boom times, let alone now.

However, there is a definite trend.

Aug 2010: 93.5%

Sep 2010: 93.2%

Oct 2010: 92.7%

Nov 2010: 92.4%

Dec 2010: 92.1%

Jan 2011: 91.9%

absolutely.. trend is coming down..

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Still, though... 92% of asking prices being met... :(

I think this statistic is that sellers achieve, on average, 92% of their asking price, rather than 92% of sellers achieve the full asking price. May be wrong, but it's an impirtant distinction.

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I think this statistic is that sellers achieve, on average, 92% of their asking price, rather than 92% of sellers achieve the full asking price. May be wrong, but it's an impirtant distinction.

You're right - it is average % of asking price achieved ie the average house is sold for around 8% discount off its asking price.

Bear in mind that rightmove initial asking prices have been falling too and only the best prices homes have been selling (probably after some subsequent discounting) and it all adds up to falls.

Even at the bottom of HPC mk I (Early 2009) this only fell to 88% as asking prices were also dropping then.

Also looking at the supply and demand side of these stats, demand (ie new buyers registered) has fallen around 20% in 3 months whilst supply (as in volume of listings) has only fallen by 7% which rather shoots apart the VIs main argument against further falls which is more balanced supply and demand :D

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Those charts suggest we are well inside crash wave 2! Especially the second chart.

+ 1.

Chart 2 is just ... beautiful ! :)

That oscillating wave, those downwards curves are just... sexy. :D Almost nasty. :lol:

I think this statistic is that sellers achieve, on average, 92% of their asking price, rather than 92% of sellers achieve the full asking price. May be wrong, but it's an important distinction.

+ 1. It is the average. Or, average discount = 8%.

Edited by Tired of Waiting

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You're right - it is average % of asking price achieved ie the average house is sold for around 8% discount off its asking price.

Yep.

Bear in mind that rightmove initial asking prices have been falling too and only the best prices homes have been selling (probably after some subsequent discounting) and it all adds up to falls.

Even at the bottom of HPC mk I (Early 2009) this only fell to 88% as asking prices were also dropping then.

Also looking at the supply and demand side of these stats, demand (ie new buyers registered) has fallen around 20% in 3 months whilst supply (as in volume of listings) has only fallen by 7% which rather shoots apart the VIs main argument against further falls which is more balanced supply and demand :D

Very good point NEO72. Thanks for that.

And I bet supply is going up now, as we speak type, and will go up faster in Feb, March and April. There are a lot of sellers out there that are finally seeing and understanding what is coming. Pence are dropping by the millions out there. "Sentiment" is plummeting.

And on the demand side a similar (well, reversed) process is happening. A lot of potential buyers are saying: "I think I'll just wait 6 or 12 months to see what happens :) ." potential buyers are also wising up :D .

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  • 312 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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