Jump to content
House Price Crash Forum
sarahleyburn

Supply Up, Demand Down

Recommended Posts

The latest from the NAEA:

Supply increased 9% MoM in June. Unsold stock is now at its highest level since April '09.

Demand (number of potential buyers registering) dropped by 4% in June.

According to the NAEA, the number of new properties coming to market is a sign of increasing vendor delusion confidence, and everything would be dandy if the banks would just lend more...

http://www.guardian.co.uk/business/2011/jul/27/estate-agents-surge-house-sales

http://www.propertywire.com/news/europe/uk-residential-property-market-201107275395.html

Share this post


Link to post
Share on other sites

Supply is up and demand down, all that is needed now is for price to reach the point at which it is palatable for both parties and the market will return.

This isnt happening anytime soon for the multitude of reasons that we already know.

Ea's and morons bleating on about the banks needing to lend more are either in denial or just never knew enough to deny in the first place.

People are waking up to the fact that prices are not only falling but are too high. Even if the banks would lend Joe Bloggs £350k for that terraced 2 bed he has realised that it isnt worth it and he doesnt want to pay the bank back over £700k for a shitbox.

The cat is out of the bag.

Share this post


Link to post
Share on other sites

everything would be dandy if the banks would just lend more...

Everything would be dandy if EAs disappeared. They seem to be going the right way to destroy themselves.

Our high street used to have three travel agents, but now there are none. The EAs are following them down the dumper.

Share this post


Link to post
Share on other sites

Everything would be dandy if EAs disappeared. They seem to be going the right way to destroy themselves.

Our high street used to have three travel agents, but now there are none. The EAs are following them down the dumper.

So, at least it's not all bad news at the moment. :lol:

Share this post


Link to post
Share on other sites

The latest from the NAEA:

Supply increased 9% MoM in June. Unsold stock is now at its highest level since April '09.

Wasn't April 09 the low point for land registry prices after the 07 crash.....

Share this post


Link to post
Share on other sites

http://www.guardian.co.uk/business/2011/jul/27/estate-agents-surge-house-sales

"Increased confidence that they could get a sale had encouraged sellers"

Why have all these sellers got this newly increased confidence that they will sell their homes ?

I doubt it means they are now offering them at a realistic price, that would be buyers, can and are prepared, to pay?

Or could it just be, that these optimistic sellers are all Daily Express readers with false hope prices are still going up, so there will be a rush of buyers to buy their property? :lol:

Share this post


Link to post
Share on other sites

Why have all these sellers got this newly increased confidence that they will sell their homes ?

I doubt it means they are now offering them at a realistic price, that would be buyers, can and are prepared, to pay?

Or could it just be, that these optimistic sellers are all Daily Express readers with false hope prices are still going up, so there will be a rush of buyers to buy their property? :lol:

Yep, but they'll learn :D This was buried in that propertywire story I linked to:

"‘People who decided to put their homes on the market in June asked for an average 8.9% more than those whose homes were already on the market, which shows a promising level of optimism is returning to the sellers’ market,’ said Samantha Baden, property analyst."

Which I found hilarious on several levels.

Share this post


Link to post
Share on other sites

so where are we now?

Stages_of_a_bubble.png

Antone for skiing?

I would say were somewhere between Return to "normal" and Fear.There should be something inbetween there like 2nd denial.

Share this post


Link to post
Share on other sites

I would say were somewhere between Return to "normal" and Fear.There should be something inbetween there like 2nd denial.

There is something in between the 2 at this point in history, its called TPTB market manipulation.

Share this post


Link to post
Share on other sites

I would say were somewhere between Return to "normal" and Fear.

I'd put us there too, more nearer the former than the latter though due to meddling hands in the market.

It'll give at some point, once people start to realise they are going to be left holding the bag (of shit) they'll rush for the exits.

Share this post


Link to post
Share on other sites
<br />There is something in between the 2 at this point in history, its called TPTB market manipulation.<br />
<br /><br /><br />

S'funny, I was going to reply to that also, but I was going to say 'QE'. Same thing really I guess.

Share this post


Link to post
Share on other sites

This was buried in that propertywire story I linked to:

"‘People who decided to put their homes on the market in June asked for an average 8.9% more than those whose homes were already on the market, which shows a promising level of optimism is returning to the sellers’ market,’ said Samantha Baden, property analyst."

Which I found hilarious on several levels.

:o 8.9% more !

Yes hilarious and simply idiotic.

Share this post


Link to post
Share on other sites

I would say were somewhere between Return to "normal" and Fear.There should be something inbetween there like 2nd denial.

Cognitive dissonance?

(I agree that we're between 'return to normal' and 'fear'.)

Share this post


Link to post
Share on other sites

I agree that we're between 'return to normal' and 'fear'.

Been about a year there now IMO. Once all hopes of a spring bounce have left the building we can move to between fear and capitulation.

Edited by rantnrave

Share this post


Link to post
Share on other sites

Supply up.

Transactions down.

Demand stable......soon to be falling, when people cotton on that money does not grow on houses they will think twice before committing themselves...many have given up on buying/moving for the foreseeable future....can't buy won't buy....so the overpriced supply will stay sitting on the market until it reaches the price where it is cost effective to purchase, and people feel secure to purchase.... taking all things into consideration like....cost...interest rate and future interest rates...age...length of loan...time planing living there...potential future wage increases...loss of one income...deposit available...other better

investments...price falls...disposable income...increase of fuel, food cost of living...job security....confidence and future economic uncertainty.

Is downsizing is the new upsizing?........ ;)

Share this post


Link to post
Share on other sites
Guest spp

In gold though, we're definitely in "Greed".

;)

About time you offloaded it all?

Edited by spp

Share this post


Link to post
Share on other sites

I would say were somewhere between Return to "normal" and Fear.There should be something inbetween there like 2nd denial.

Didn't someone post this graph last week along with, I think, the Nationwide house price figures and both curves were basically the same?

Edited by The Masked Tulip

Share this post


Link to post
Share on other sites

The latest from the NAEA:

Supply increased 9% MoM in June. Unsold stock is now at its highest level since April '09.

Demand (number of potential buyers registering) dropped by 4% in June.

According to the NAEA, the number of new properties coming to market is a sign of increasing vendor delusion confidence, and everything would be dandy if the banks would just lend more...

http://www.guardian.co.uk/business/2011/jul/27/estate-agents-surge-house-sales

http://www.propertywire.com/news/europe/uk-residential-property-market-201107275395.html

Good news - what are people seeing locally in their figures?

Was a major talking point at a BBQ this weekend - a few couples like us who were renting. General concensus was that if they could get a mortgage for banks either 100% or 95% they would jump at chance to own a shoebox, rather than pay the ever increasing rents.

Share this post


Link to post
Share on other sites

Good news - what are people seeing locally in their figures?

Was a major talking point at a BBQ this weekend - a few couples like us who were renting. General concensus was that if they could get a mortgage for banks either 100% or 95% they would jump at chance to own a shoebox, rather than pay the ever increasing rents.

Good job they can't then. Save them from their own folly.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 285 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%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.