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Tenubracon

Housing Market Enjoys New Year Bounce - Naea Guff In The Independent

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From today's Independent:

http://www.independent.co.uk/life-style/house-and-home/property/house-market-enjoys-new-year-bounce-2216367.html

Quotes:

"The average number of potential buyers registering with estate agents jumped to 252 during the month, up from 227 in December, although the figure was 13% lower than January last year, according to the National Association of Estate Agents."

"Howard Archer, chief UK and European economist at IHS Global Insight, said: "The CLG data do not materially change our view that house prices will continue to trend down gradually in 2011 after losing ground overall in the latter months of 2010.

"Specifically, we suspect that house prices will fall by around 5% in 2011 and end up losing around 10% from the peak levels seen in the first half of 2010." "

Some bounce. Seems the Independent is anything but, and just prints what the NAEA want it to print.

Edited by Tenubracon

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TBH I can believe that the Market is seeing a bit more buyer activity recently as people bring forward purchases to lock in low rates. It doesn't mean there are more buyers about though just that they are buying now rather than this spring or summer.

The fact that it is lower than January last year is very significant though, as January 2010 was the month that stamp duty was re-introduced so any planning to buy brought forward purchases to December. You can see this by looking at transaction level charts. So last January was an unusually week month and this year is even weaker!

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TBH I can believe that the Market is seeing a bit more buyer activity recently as people bring forward purchases to lock in low rates. It doesn't mean there are more buyers about though just that they are buying now rather than this spring or summer.

The fact that it is lower than January last year is very significant though, as January 2010 was the month that stamp duty was re-introduced so any planning to buy brought forward purchases to December. You can see this by looking at transaction level charts. So last January was an unusually week month and this year is even weaker!

Quite. It's a non-story. Might as well not bother with the effort of writing the body copy of the article and simply have a headline: 'AS EXPECTED MORE PEOPLE REGISTERED INTEREST IN BUYING PROPERTY AS SPRING APPROACHES'

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Quite. It's a non-story. Might as well not bother with the effort of writing the body copy of the article and simply have a headline: 'AS EXPECTED MORE PEOPLE REGISTERED INTEREST IN BUYING PROPERTY AS SPRING APPROACHES'

But the NAEA have got do be seen to be doing something by their members, so this is the monthly positive spin. The fact that it's such as transparently weak story shows just how desperate they are!

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Same pish regurgitated in the Scotsman.

I did like this quote. They just don't get it - do they ? 3/4 years on and they still think as long as everyone can borrow as much as possible forever nothing can possibly go wrong....

Scotsman

"What we need to see is the Financial Services Authority using its powers of oversight to ease mortgage lending restrictions that are preventing so many first-time buyers from entering the housing market."

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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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