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Uk Home Sales Fall Below 100,000 Per Month

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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

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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

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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.

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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

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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.

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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..... ;)

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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!

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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.

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  • 406 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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