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Housing Stock On Sale Is Nearing Lowest Level For A Decade

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Monday, 24 March 2014

The NAEA says the volume of stock on sale is nearing its lowest level for a decade, although the proportion being purchased is rising as the market hots up.

Association members had an average of 45 homes to sell in January but only 43 in February - the fifth successive monthly fall and approaching the 2004 'low' of just 40.

Buyers aged 31 to 40 remained the backbone of transactions, making up half of the buyers seen in February according to the latest NAEA survey. The average length of time it takes to buy a property, from sale to completion, is 11 weeks.

The number of first time buyers entering the market has continued to improve with nearly a third of homes sold last month going to FTBs.

But the average number of new buyers registering with agents dropped 6.2 per cent last month compared with January - against the normal trend and possibly because of the poor weather in early February in much of England.

..in full http://www.estateage...ecade-says-naea

Drove past a house that had been on market for 2 years early this morning. Way too expensive an asking price for me. Sold sign on the board, and a "more properties wanted" other small board attached below. Last 3 Rightmove listings I've looked at seem to be where an older owner has croaked.... empty houses with decor from the 1970s.

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. Last 3 Rightmove listings I've looked at seem to be where an older owner has croaked.... empty houses with decor from the 1970s.

Or had to go into a care home. 3 such sales in my family and Mr B's alone.

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Gotta keep the supply scarce. Its the basis of the whole economy (the enrichment of a few).

Edited by aSecureTenant

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Gotta keep the supply scarce. Its the basis of the whole economy (the enrichment of a few).

It's not just the UK where they (the VI's) are keeping the supply scarce. Ireland and the US are suffering from supply shortages and there are hundreds of thousands of empties there!

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Or had to go into a care home. 3 such sales in my family and Mr B's alone.

Yes; possibly that too. More often that not inheritors around these parts try renting them out first before selling. I have gained a lot more insight on such issues from a number of your previous posts about care homes / agonizing circumstances of relatives vs condition of the elderly individual and what is best for them / dementia / costs ect.

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Or had to go into a care home. 3 such sales in my family and Mr B's alone.

We are currently renting in an seaside area where there are lots of bungalows. There are quite a lot coming on to the market and they seem to be much better value than the post millennium boxes. They have gardens (front & back), dive way and a garage - something that 99% of all nw builds are not allowed to have according to government density targets.

We had two such sales in our family in the lest 5 years and both of those bungalows went to young families.

Me thinks the boomers will be out of luck if they want bungalows as there are lots in that age groups and the housing stock owned by their parents generation is being sold off to the generation below them. Too add, we can't build on the greenbelt either, so where would you build new bungalows?

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Me thinks the boomers will be out of luck if they want bungalows as there are lots in that age groups and the housing stock owned by their parents generation is being sold off to the generation below them. Too add, we can't build on the greenbelt either, so where would you build new bungalows?

I have posted about this before, but my folks downsized to a bungalow in maybe their late 60s. They did not particularly want a bungalow, but it seemed to suit at the time. Roll on 3 years and they decided they didn't like the area after all (country village). They moved back to a small house, and only then did it hit them how their fitness levels had decreased because of no stairs - equally fitness improved rapidly once they were up and down stairs again. My mother remained in that house and could still well manage stairs until she had to go into a care home (dementia) at 89.

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I have posted about this before, but my folks downsized to a bungalow in maybe their late 60s. They did not particularly want a bungalow, but it seemed to suit at the time. Roll on 3 years and they decided they didn't like the area after all (country village). They moved back to a small house, and only then did it hit them how their fitness levels had decreased because of no stairs - equally fitness improved rapidly once they were up and down stairs again. My mother remained in that house and could still well manage stairs until she had to go into a care home (dementia) at 89.

Yep, and when you have posted this in the past :) I have posted that a GP friend of mine warned me about bungalows.

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Moving up the ladder is becoming a near impossibility for many. If you cannot afford the next house up, you cannot sell. It's a bit like being in negative equity in that regards, but obviously preferable.

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Me and the wife were talking about buying the bungalow that we are renting outright as it sames us some cash on the rent and gives us somewhere stable with good facilities.

We are both in our early 30's, have moved around lots and will be starting a family this/next year. On the plus side the bungalow is big enough for a family and well located. I like he idea that we would never have to move again.

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Gotta keep the supply scarce. Its the basis of the whole economy (the enrichment of a few).

Absolutely. Got it in one. The whole basis of the UK's pathetic, doomed, Real Estate Based Economy is a deliberately manufactured housing shortage. Thus a whole economy is crippled and stunted to ensure the "haves" keep it all while the rest of us can go swing.

People Tell Me That I'm Slightly Odd....

itsarandomworld

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Me and the wife were talking about buying the bungalow that we are renting outright as it sames us some cash on the rent and gives us somewhere stable with good facilities.

We are both in our early 30's, have moved around lots and will be starting a family this/next year. On the plus side the bungalow is big enough for a family and well located. I like he idea that we would never have to move again.

If it comes with matching cardigans I think it is a buy :lol:

There are very few bungalows in Swansea and what there are are often on the top of steep hills - which kind of defeats the point of buying them. They are, however, in demand by older people looking to no longer have the stairs.

In my travels I have come up against lots of older people who want to buy a bungalow but are unable to sell their 2 storey house in order to do so - so it did make me wonder whether the sensible thing would be to just go straight to the bungalow option.

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Apparently the market is heating up which is why the proportion of bungalows sold is going up.

Certainly nothing to do with a lack of bungalows on offer. Certainly not.

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