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Uk Property Transactions Fall - Reuters

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LONDON (Reuters) - The number of property transactions in England and Wales fell in October from a 15-month high hit in September, tax authority data showed on Monday.

HM Revenue and Customs said the number of property transactions fell to 141,000 in October in seasonally adjusted terms from a downwardly revised 152,000 in September. The September figure was the highest since June 2004. [which Sept figure? the downwardly revised one?]

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"The National Association of Estate Agents (NAEA) has released figures from its latest housing market survey revealing that the market tightened in October as sales remained consistent and levels of stock decreased. Strong sales coupled with a drop in the number of buyers on estate agents books points to a move away from the buyer’s market that has been prevalent in recent months. However, the average difference between asking price and sale price increased in October demonstrating that sellers still need to be more realistic about prices."

So a drop in the number of buyers is a move away from a buyer's market? Has economics of "supply & demand" changed overnight?

Blah blah blah blah.... blah...

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This is the bit that gets me:

"Still a long way to go for first timers

The first time buyer share of the market dropped to 9% in October, compared with 11% in September. While this figure is still higher than those seen earlier in the year (7.25% in June, 7.8% in July and 7.7% in August) there is still a long way to go"

Who's propping up the market at the bottom end? Can'tr be new BTLers surely?

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surely if the number of interested buyers in the market drops..

it becomes even more of a buyers market for those left as they have less competition.

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  • 301 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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