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Property sales fell in August, says HMRC

http://www.bbc.co.uk/news/business-15016998

The number of properties sold in the UK fell to 78,000 in August, figures from the tax authority show.

This was 6,000 fewer sales than in July - which had seen the highest total for a year - although a drop is often recorded in August during what is traditionally a quieter holiday month.

However, the figure was down 3,000 compared with August 2010, HM Revenue and Customs (HMRC) said.

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Property sales fell in August, says HMRC

http://www.bbc.co.uk/news/business-15016998

The number of properties sold in the UK fell to 78,000 in August, figures from the tax authority show.

This was 6,000 fewer sales than in July - which had seen the highest total for a year - although a drop is often recorded in August during what is traditionally a quieter holiday month.

However, the figure was down 3,000 compared with August 2010, HM Revenue and Customs (HMRC) said.

Am I getting confused with figures? I thought house sales were about 1/3rd of peak, around the 40K per month figure and around 75K was somewhere close to the figure needed to create stability in prices? 78K seems a bloody high monthly figure to me, compared to what I thought the figures generally were?

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Am I getting confused with figures? I thought house sales were about 1/3rd of peak, around the 40K per month figure and around 75K was somewhere close to the figure needed to create stability in prices? 78K seems a bloody high monthly figure to me, compared to what I thought the figures generally were?

It is now thought that cash sales represent 40% of the market up from 25% of the market in say 2007

If there were 78,000 sales that could be around 32,000 cash sales and 46,000 mortgages

As inequality is growing by the day, more people will be paying by cash so the 40% figure could rise. It could also be people downsizing from mortgage free properties that they are now unable to afford to live in because they are now unemployed, get little interest on their savings or no returns on their bank shares.

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Am I getting confused with figures? I thought house sales were about 1/3rd of peak, around the 40K per month figure and around 75K was somewhere close to the figure needed to create stability in prices? 78K seems a bloody high monthly figure to me, compared to what I thought the figures generally were?

Mortgage approvals are around 48k according to the BOE.

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It is now thought that cash sales represent 40% of the market up from 25% of the market in say 2007

If there were 78,000 sales that could be around 32,000 cash sales and 46,000 mortgages

As inequality is growing by the day, more people will be paying by cash so the 40% figure could rise. It could also be people downsizing from mortgage free properties that they are now unable to afford to live in because they are now unemployed, get little interest on their savings or no returns on their bank shares.

Cheers Redhat, I was just surprised cash sales made up such a proprtion of the market, although I'm not sure why really. Hopefully in a few years I'll be one of the increasing proportion of cash buyers!

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Property sales fell in August, says HMRC

http://www.bbc.co.uk/news/business-15016998

The number of properties sold in the UK fell to 78,000 in August, figures from the tax authority show.

This was 6,000 fewer sales than in July - which had seen the highest total for a year - although a drop is often recorded in August during what is traditionally a quieter holiday month.

However, the figure was down 3,000 compared with August 2010, HM Revenue and Customs (HMRC) said.

Volumes even lower than 2010. Good news for HPCers. B)

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