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gruffydd

News From The National Association Of Twats

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News from twatland - interesting comments on BTL saturation.

http://www.naea.co.uk/the_naea/general_pub...id=232&PageNo=1

HOUSING MARKET ZOOMING AHEAD IN FIRST QUARTER OF 2006 18 / Apr / 2006

The monthly housing survey conducted by the National Association of Estate Agents (NAEA) has revealed that house sales have increased in March for the third month running demonstrating that consumer confidence really is back. A fast paced market is also reported with the time taken to sell decreasing, also for the third month in a row. Meanwhile first time buyers have been reclaiming a larger share of the market whilst competing with a rise in investors looking for buy to let opportunities.

Sales rocket

House sales have increased by an astounding 40% since January, from an average of 10 sales to 14 per agent in March; this is a 16% rise on March 2005. This surge in the property market has been assisted by reported increases in house prices by 3.4% in February, alongside cheaper borrowing with fixed mortgage interest rates reported to be at 4.72% on average in February 2006 compared to a rate of 5.23% March 2005.

A seller’s market

There was an 11.7% increase in the number of buyers in March with an average of 371 on estate agents’ books, and a 4.9% decrease in houses available, with an average of 61 houses per agent. Demand continues to out strip supply in many areas of the market. Noticeably the gap between asking price and final sale price closed further, indicating that sellers are being more realistic, contributing to what appears to be a vigorous market.

First time buyers slowly gaining confidence

In a positive step forward the first time buyer share of the market increased in March from 7.8% to 8.9%. This is however considerably lower than the same period last year when first time buyers’ share of the market was at a high of 22.3%. The increase in the stamp duty level could have encouraged a few new buyers onto the ladder; however it is clear that this is not enough to ensure a healthy influx into the market.

Buy to let

Another reason behind the lift in the market could be a renewed interest in the buy to let sector, with well founded public concern for financial stability in retirement. NAEA lettings agents reported an increase in vacant properties from an average of 14 to 15 per agent. As more and more people buy a second property for financial benefits, it is possible this sector of the market could become saturated.

NAEA President, Christopher Hall, comments: “It is wonderful to see confidence from both buyer and seller return to the housing market. The market is back on track, following a slight cooling-off and dip in 2005, the picture for 2006 is very positive indeed.

“I am delighted to see an increase in first time buyers and pray that this continues. Going forward, I would like to see more new instructions so that supply continually meets demand curbing boom prices and allowing the industry to continue to steadily grow.

“In January I commented that I was confident average house prices would increase by up to 100% over the coming 10 to 15 years. Looking at the latest figures I believe we are still well on track for this.”

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NAEA President, Christopher Hall, comments: “It is wonderful to see confidence from both buyer and seller return to the housing market. The market is back on track, following a slight cooling-off and dip in 2005, the picture for 2006 is very positive indeed...................

I am delighted to see an increase in first time buyers and pray that this continues. In January I commented that I was confident average house prices would increase by up to 100% over the coming 10 to 15 years. Looking at the latest figures I believe we are still well on track for this.

Is he for real? There's more chance of finding Elvis on the moon. :lol::lol::lol::lol:

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I'm not a member of the NAEA boys club, but their analysis is on the button.

Funny thing is, it doesn't matter if it isn't. It's a self fulfilling prophecy. If enough people believe the market is going to continue going up, up it will go.

Do you believe?

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Guest Winners and Losers

I'm not a member of the NAEA boys club, but their analysis is on the button.

Funny thing is, it doesn't matter if it isn't. It's a self fulfilling prophecy. If enough people believe the market is going to continue going up, up it will go.

Do you believe?

I don't think you would be here if it was.

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I'm not a member of the NAEA boys club, but their analysis is on the button.

Funny thing is, it doesn't matter if it isn't. It's a self fulfilling prophecy. If enough people believe the market is going to continue going up, up it will go.

Do you believe?

"I WANT TO BELIEVE"

but up to a point even the most bullish bull wil start saying, i can t believe its worth so much - its lunacy. I d better cash in - then eveyone will do it. It will be a run on property if you like

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I'm not a member of the NAEA boys club, but their analysis is on the button.

Funny thing is, it doesn't matter if it isn't. It's a self fulfilling prophecy. If enough people believe the market is going to continue going up, up it will go.

Do you believe?

And what goes up ???......

Ends up going up its own arse. :D

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The guy actually says he "prays" it to continue. <_<<_<

House prices will rise forever and ever... God willing! :blink::blink:

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"Buy to let

Another reason behind the lift in the market could be a renewed interest in the buy to let sector, with well founded public concern for financial stability in retirement. NAEA lettings agents reported an increase in vacant properties from an average of 14 to 15 per agent. As more and more people buy a second property for financial benefits, it is possible this sector of the market could become saturated.

well at least they told you this

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"Buy to let

Another reason behind the lift in the market could be a renewed interest in the buy to let sector, with well founded public concern for financial stability in retirement. NAEA lettings agents reported an increase in vacant properties from an average of 14 to 15 per agent. As more and more people buy a second property for financial benefits, it is possible this sector of the market could become saturated.

well at least they told you this

Yes, and they say a shortage of property is the fundemental reason property will still rise (supply and demand)

There does seem to be a lot of vacant property around, they will all come onto the market when these percieved "financial benifits" turn into "financial liabilities" (capital gains in these properties "are seen" to fall)

I wonder what the percentage of empty properties there are compared to say 1999?

Edited by Flat Bear

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Is he for real? There's more chance of finding Elvis on the moon. :lol::lol::lol::lol:

As I've said before "driving a double decker bus singing 'There's a guy works down our chip shop swears he's Elvis' "

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  • 333 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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