March Sales Volumes For N1 & Cb1

[drrayjo]

Can this really go on much longer?

CB1 total property sales in month of March :

Year 2000 - 34

2001 - 36

2002 - 43

2003 - 26

2004 - 35

2005 - 32

2006 - 31

2007 - 24

2008 - 13

2009 - 16

2010 - 10

2011 - 7

Seven?! That's less than a property per EA for the better part of Cambridge for a whole month.

N1 total property sales in month of March :

2000 - 126

2001 - 119

2002 - 102

2003 - 80

2004 - 152

2005 - 85

2006 - 147

2007 - 133

2008 - 59

2009 - 73

2010 - 67

2011 - 27

Fighting for scraps in Islington?

[tboy]

Do you think there's a delay in reporting numbers? Very curious as I'm in islington, my impression from rightmove via property bee is that despite the crazy prices, stuff is selling. But always hard to tell.

[moesasji]

Do you think there's a delay in reporting numbers? Very curious as I'm in islington, my impression from rightmove via property bee is that despite the crazy prices, stuff is selling. But always hard to tell.

If these numbers come from Rightmove (as I assume they are) then there is indeed a delay in reporting. Essentially Rightmove gets these numbers from the Land registry, so numbers on sales come in over a number of months. So the most recent months will typically increase by a factor of 2 to 3 (if I remember correctly). As a result these numbers appear pretty "normal" to me.

[Wurzel Of Highbridge]

With the recent lack of sales I guess the velocity of money must be slowing.

[Executive Sadman]

I posted this in the CAmbridge forum.

http://www.cambridge-news.co.uk/Cambridge/House-prices-up-by-30k-in-hot-spot-city-03052011.htm

Houses in Cambridge sell within six weeks, according to new research which puts the average price of a property in the city at £339,000.

That value is £98,000 higher than the surrounding sub-region and represents a rise of £30,000 in the space of a year, according to the quarterly housing market bulletin produced by Cambridgeshire Horizons.

and yet i see a lot more than 7 houses for sale in the CB1 postcode.

[The Knimbies who say No]

OP, Land reg sales take up to 90 days to be registered. March data will be largely complete by the update in June. Am surprised you've been a member here since 2006 without knowing this!

[Timak]

I'm a CB1 resident, although not a particularly glamorous bit of it, houses are still selling very quickly here.

One just down the road for me sold for £335k within days, this is higher than peak value and I see no drops here at all really.

On the other hand I was in Basingstoke at the weekend and there were seemingly loads of properties on the market and I can only see prices falling heavily.