Jump to content
House Price Crash Forum
Gigantic Purple Slug

Uk Home Sales Fall Below 100,000 Per Month

Recommended Posts

Not sure it can be. These are the first signs of what could be a sharp change in the market IMO.

Stamp duty tinkering <> Effect of MMR.

Tory time window for boosting the market before the GE is shrinking fast.

yes, i can't see what they can really do to stop it now

but, they are better men than i

i'm sure they'll think of something

Share this post


Link to post
Share on other sites

I think the Government needs to step in and start buying houses directly.

So the elderly can live in it free of charge in return for all the tax they one paid

Share this post


Link to post
Share on other sites

BBA release page:

http://www.bba.org.uk/news/press-releases/november-2014-figures-for-the-high-street-banks/#.VJlWbAvY

Commenting of the BBA’s High Street Banking statistics for November, the BBA’s Chief Economist, Richard Woolhouse said:

“Today’s figures show quite a sharp chill to the housing market in recent months – with house purchase approvals during November 20% lower than a year before.

“It will be interesting to see what impact the stamp duty changes the Chancellor unveiled in his Autumn Statement will have early in the New Year. They could prove a modest stocking filler for homebuyers and estate agents.

“It’s also striking to see that unsecured borrowing such as personal loans are growing at their fastest rate for six years. This suggests consumers may be feeling more confident which bodes well for a fruitful Christmas for retailers.”

Somewhat wishful thinking in my view.

Share this post


Link to post
Share on other sites

If house prices drop before the general election it's still unlikely that they'll receive the extra special boosting treatment for at least a couple of years after the general election - assuming another 5 year term.

More likely they'll wait until say the middle of 2018 a couple of years before the 2020 general election like the Conservative and LibDem coalition did for this Parliament.

Of course who knows?

Edited by billybong

Share this post


Link to post
Share on other sites

If house prices drop before the general election it's still unlikely that they'll receive the special treatment for at least a couple of years after the general election - assuming another 5 year term.

More likely they'll wait until say the middle of 2018 a couple of years before the 2020 general election like the Conservative and LibDem coalition did for this Parliament.

Of course who knows?

A house price drop would simply be disastrous for the economy as so much credit is secured against supposedly 'high value' housing assets. They really drive credit creation in the UK and the economy is more and more dependent on credit (and monetising state debt too).

Ultimately, the creditors are going to be screwed as the debt is simply unserviceable so default either soft or hard is inevitable. The question is 'What sort of default and When?'. We've been seeing soft default ever since QE started but that won't be enough, I think.

Share this post


Link to post
Share on other sites

Fewer homes sold because people have no reason to sell, they can't afford to sell/move up, or they find the cost of selling and buying exorbitant...two people I know got a buyer for theirs, not greedy types so a price to sell but took it off the market because there was nothing suitable for them to buy where and what they were looking for.....all well over priced rubbish, chancer prices..... ;)

Share this post


Link to post
Share on other sites

I think from memory there are about 12,000 estate agent offices in the UK. So with a 100,000 home sales a year that averages about eight sales per office per year, probably a bit less as the big house builders often sell direct.

No wonder they're all scrambling to get into lettings management!

Share this post


Link to post
Share on other sites

I think from memory there are about 12,000 estate agent offices in the UK. So with a 100,000 home sales a year that averages about eight sales per office per year, probably a bit less as the big house builders often sell direct.

No wonder they're all scrambling to get into lettings management!

per month.

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

  • Recently Browsing   0 members

    No registered users viewing this page.

  • The Prime Minister stated that there were three Brexit options available to the UK:   206 members have voted

    1. 1. Which of the Prime Minister's options would you choose?


      • Leave with the negotiated deal
      • Remain
      • Leave with no deal

    Please sign in or register to vote in this poll. View topic


×

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.