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Killer Bunny

Housing Mkt Stats Worth Knowing

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The number of homes sold remains extremely low with just 2,194 selling across the UK every day (Source - HMRC). The long-term average is 3,474 while 5,333 were selling each day in February 2007.

 

A total of 5,115 new properties came on to the market every day in May, not too far short of the 5,244 that normally do, although 8,210 were put on every day in May 2006.

Nice over hang, 2921 every day!

I like Henry Pryror he's normally quite sensible in his analysis

Edited by Pent Up

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No, Henry, not a "long hot frustrating Summer" more like long frustrating decade.

Market crashing

Great news. Thanks KB.

( And I was right!!! :D "Posted 07 January 2011" : A Pent-Up Supply Should Flood The Spring Market )

( OK, I got the season a bit wrong, we are in the summer already, but it wasn't too shabby. )

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Great news. Thanks KB.

( And I was right!!! :D "Posted 07 January 2011" : A Pent-Up Supply Should Flood The Spring Market )

( OK, I got the season a bit wrong, we are in the summer already, but it wasn't too shabby. )

I remember reading your thoughts then and thinking that was one of the most interesting points I'd come across on HPC. I've since got a lot of mileage out of the 'pent-up' supply argument over on the EA Today site! Much appreciated!!!

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I remember reading your thoughts then and thinking that was one of the most interesting points I'd come across on HPC. I've since got a lot of mileage out of the 'pent-up' supply argument over on the EA Today site! Much appreciated!!!

Oh... thanks R&R ! :)

( We should be careful though, people here will accuse us of going all Mumsnet! :P:lol: )

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The number of homes sold remains extremely low with just 2,194 selling across the UK every day
A total of 5,115 new properties came on to the market every day in May

Mmmmm - nice stats! :D

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Quote

The number of homes sold remains extremely low with just 2,194 selling across the UK every day

Quote

A total of 5,115 new properties came on to the market every day in May

Mmmmm - nice stats! :D

Exactly

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I remember reading your thoughts then and thinking that was one of the most interesting points I'd come across on HPC.

I so agree, I think this "pent up supply" is an extremely relevant point made by TOW, as regards this HPC.

As an anecdotal, three years ago, we hardly had any family homes to check out in our search areas, but now, although asking prices have not come down much, there is a huge supply to choose from.

Makes sense now there are so many to choose from, that only the ones who are willing to lower their asking price below the others, will be the ones that stand a chance of selling, as the "spring bounce" has now come and gone.

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shapeimage_2.png

Interesting there was a similar disparity between asking and selling prices for a few months at the beginning of 2008 just before the market plummeted!

Well spotted, it is exactly the same shape! :)

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Well spotted, it is exactly the same shape! :)

Just supposing I sold my house to a mate for 25% of the OMV and bought it back in 12 months for the same price? I would love to just screw with the statistics for a while. Now if enough people could join together and do the same thing then you wouldn't be able to tell an arms length sale from a phoney one. Might even bring a few banks down. Now that would be real financial teroorism wouldn't it?

PS I know he/she would have to be a trustworthy mate but you could possibly do it under contract.

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I can't work out how up to date those charts are?

True.

I think it is up to around 4 months into 2011?

In 2003 the chart seems to start above the "2" of "Jan 2003". So, in 2011 it would look like ... up to March?

But in 2011 he added the day: as in "1 Jan 2011", so it could be up to may?? :unsure:

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Just supposing I sold my house to a mate for 25% of the OMV and bought it back in 12 months for the same price? I would love to just screw with the statistics for a while. Now if enough people could join together and do the same thing then you wouldn't be able to tell an arms length sale from a phoney one. Might even bring a few banks down. Now that would be real financial teroorism wouldn't it?

PS I know he/she would have to be a trustworthy mate but you could possibly do it under contract.

You could hedge that by selling each other your houses of similar value (and paying each other a peppercorn rent to live in your homes).

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Just supposing I sold my house to a mate for 25% of the OMV and bought it back in 12 months for the same price? I would love to just screw with the statistics for a while. Now if enough people could join together and do the same thing then you wouldn't be able to tell an arms length sale from a phoney one. Might even bring a few banks down. Now that would be real financial teroorism wouldn't it?

PS I know he/she would have to be a trustworthy mate but you could possibly do it under contract.

You could hedge that by selling each other your houses of similar value (and paying each other a peppercorn rent to live in your homes).

Sadly, two words. Stamp Duty.

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Nice stats. The rampers have been using the supply and demand argument for years when referring to the ever increasing population and a small island with limited space etc.

These stats prove otherwise. Twice as much supply as real demand ie a desire that can be acted upon and not the 'clicking on listings' demand that rightmove use.

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True.

I think it is up to around 4 months into 2011?

In 2003 the chart seems to start above the "2" of "Jan 2003". So, in 2011 it would look like ... up to March?

But in 2011 he added the day: as in "1 Jan 2011", so it could be up to may?? :unsure:

It says the page was updated June 11 so I assume it would have the latest HMRC data which I believe is up to May.

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Does anyone know what a 'normal' percentage of an average salary was required to service mortgage repayments before insanity riddled housing in the UK?

I'm trying to convince the missus how wealthy we should be rather than how skint we actually are so she can understand price value and normality.

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Sadly, two words. Stamp Duty.

Maybe if they are over the threshold. But at 25% of face value you could avoid it for the most part. As Kevin Keegan would say "I would love it, just love it".

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Does anyone know what a 'normal' percentage of an average salary was required to service mortgage repayments before insanity riddled housing in the UK?

I'm trying to convince the missus how wealthy we should be rather than how skint we actually are so she can understand price value and normality.

Missus=woman=forget it.

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  • 276 Brexit, House prices and Summer 2020

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      • down 5% +
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