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TheCountOfNowhere

Property Sales Fell Sharply In November, Says Hmrc

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But still higher than last year. Too many journalists, not enough news.

A conclusion cannot be drawn without the bigger. Dont sales always "collapse" every November?

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Some interesting snippets in the article, even if it is only short:

Overall, it means that residential sales for the first 11 months of 2015 are almost identical to those for the same period last year. If that pattern continues in December, then sales for the whole of this year are likely to match those for 2014 at about 1.22 million.

Sales this year have been regularly trumpted as being higher than 2014 - interesting to see that going into reverse.

Andrew Montlake at the London mortgage brokers Coreco said... "Also some amateur landlords may have been put off buying buy-to-let properties because of the impending tax changes they face."

Music to my ears if true!

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"Also some amateur landlords may have been put off buying buy-to-let properties because of the impending tax changes they face."

It's only the savvy professional landlords buying now? :lol:

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For any avoidance of doubt...pre Nov...prices were already massively down on 2015.

  1. Prime London sales volumes ( Aug 2015 v Aug 2014 ) Islington: 243 v 194 Down 21% !!!!

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  2. Prime London sales volumes ( Aug 2015 v Aug 2014 ) Greenwich: 413 v 267 Down 35%

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  3. Prime London sales volumes ( Aug 2015 v Aug 2014 ) Hammersmith & Fulham: 290 v 175 Down 40% !!!!

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  4. Prime London sales volumes ( Aug 2015 v Aug 2014 ) Westminster: 270 v 198 Down 27%

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  5. Prime London sales volumes ( Aug 2015 v Aug 2014 ) Kensington and Chelsea: 214 v 144 Down 33%

Let me spell this out anyone thinking of buying a house in the shires....

When the free QE/Low IR HTB/FLS backed/Foreign/Laundered money stops propping up London house prices there is no one in the shires who can afford to buy at the 10-20 times local wage prices the Londoners have been buying at.

Looking at the sales volume collapse I'd sale this was happening now.

We all know what will happen then.

#CaveatEmptor

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But still higher than last year. Too many journalists, not enough news.

A conclusion cannot be drawn without the bigger. Dont sales always "collapse" every November?

See my tweets posted Above.

Edited by TheCountOfNowhere

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Certainly slowed down in my areas.

Mostly vendors insisting on XX% more that even earlier this year and not getting it.

Lots of chopping and changing of agents rather than reductions

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Certainly slowed down in my areas.

Mostly vendors insisting on XX% more that even earlier this year and not getting it.

Lots of chopping and changing of agents rather than reductions

My man in the knows says 2016 is going to be "difficult" for London property owners.

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in London.

The number of transaction isn the North fell off a cliffi in 2005 and have never recovered.

Sorry, there is only one housing market driving the bubble now....London.

When it goes, it's game over.

It's not worth watching any other for now.

London is different....it's totally ****ed

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Colleague has recently signed on the line to buy outside NE of London. About 40 mins on train to Paddington. The chain collapsed a number of times. Price she paid for the new build was lower - by about 2% - than originally quoted. Seems the builders couldn't sell it in the interim as the chain collapsed then reformed. In nearly a year. She's happy with the price as she plans to spend next 20 yrs at least in the place raising her kids then retiring. She laughs when she reads that there's a queue of buyers for new property. Outside London....nope.

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Colleague has recently signed on the line to buy outside NE of London. About 40 mins on train to Paddington. The chain collapsed a number of times. Price she paid for the new build was lower - by about 2% - than originally quoted. Seems the builders couldn't sell it in the interim as the chain collapsed then reformed. In nearly a year. She's happy with the price as she plans to spend next 20 yrs at least in the place raising her kids then retiring. She laughs when she reads that there's a queue of buyers for new property. Outside London....nope.

Interesting.

Based on the sales vilume collapse there aint no queues any where.

All those crazy mental accidental landlords have missed their chance to sell.

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Sorry, there is only one housing market driving the bubble now....London.

When it goes, it's game over.

It's not worth watching any other for now.

London is different....it's totally ****ed

Lot of truth in that ,it`s the only thing keeping the indices in the black

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I think he's more worried about the BTL scum taking out a few banks in a HPC in the coming recession.

all hands on deck to get the weakest players out and the loan books less scary.

The HTB ISA delay for a few years for FTB does seem very much like he doesn't want a full blown HPC but wants FTB to be a safety net.

it's annoying seeing the kite flyers sitting for months, reasonable priced stuff shifts pretty quickly. but most of the volume is kite flyers.

at least I'm seeing more BTL unloading as time ticks on.

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Market in Plymouth has done nothing for 6 months. Houses just sat unsold. think will take another 6 months before sellers start cutting prices

Plimuff is more than one market. On the one hand, Peverell's park areas up quite a bit on a couple of years ago. And some of the cheap/unfashionable areas creeping up. On the other hand, lots that looks cheap in core student-land, and juicy drops in some desirable coast-path areas.

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