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Record Increase In House Hunters Points To Further Price Rises

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Guest wrongmove

Record increase in house hunters points to further price rises

" Figures published today show that a record number of potential house buyers outnumbered sellers by a margin of more than two to one last month - suggesting that prices could continue rising despite last week's interest rate rise.

More than 1.5 million new buyers registered with estate agents in the UK last month, the highest number on record, the figures show. While the vast majority of these buyers are existing home owners, they are refusing to put their own property on the market, it said.

Your Move, an estate agents chain, said it estimated that 1.52 million new buyers registered with UK estate agents in July. However only 633,000 properties are currently on the market in the UK, meaning that buyers are out numbering sellers by almost 2.5 to 1...."

These figures were compiled before the rate rise, but are still a bit disturbing. The debates here over whether there is a shortage of housing or not do not usually include the effect of multiple home ownership - a shortage can arise without population pressure.....

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And how many of those buyers registered with more than one EA, hence boosting the recorded number of buyers? Most of them probably.

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Wild estimates and double counting by a vested interest. If we assume that on average buyers register with 3 or 4 estate agents, then the article should probably read...

'Massive over supply of over priced UK property'.

No investigative journalism in this article...

As for the number of properties for sale....the Home.co.uk search has found the majority at 665,000 but there are certainly more out there.

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Im registered with my EA's. But i have no intention of buying yet. What an absolutely useless survey by an EA chain to gain publicity.

If you are going to do a survey do one that has some value.

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Im registered with my EA's. But i have no intention of buying yet. What an absolutely useless survey by an EA chain to gain publicity.

If you are going to do a survey do one that has some value.

I agree the absolute number is meaningless, as is the ratio of 2.5 buyers to 1 seller, but the fact that it is a record high number does tell you something about the continued strength of demand.

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Guest wrongmove

Wild estimates and double counting by a vested interest. If we assume that on average buyers register with 3 or 4 estate agents, then the article should probably read...

There were two points in the article that worried me. One was the record increase in registered buyers - the 1.5m may be a flawed figure, but it was only for one month, and whatever method they use, it was a record increase. Second was the fact that the buyers were mainly looking for a second (or third ?) property. We are well past Spring now, so buying pressure would normally begin to wane.

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has no one thought about the possibility that a lot of these people are not buyers, but in fact sellers checking out the competition, or just nosey homeowners wanting to see their neighbours houses.

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has no one thought about the possibility that a lot of these people are not buyers, but in fact sellers checking out the competition, or just nosey homeowners wanting to see their neighbours houses.

Has anyone thought that desparate EAs are trying to turn the tide to protrect their livilihoods? With IR hikes, unemployment rising and debt problem hatching out this housing market is going down. Its over, sit back and enjoy the ride and get ready for some bargains in about 2 years time. :)

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Never ask a hairdresser if you need a haircut.

Last week IR's went up and pout the willies up the industry.

Now an amazing amount of VI spin..

you can make figures say what you like...

What are we in now..? 8th year of record low inflation.. That would be superb if anyone had anymoney left after all of these price rises...

They will find it harder to blow smoke up your **** if you don't bend over quite so far.

The market and economic factors are broken.

Fact.

Buying now is a bad plan...

People have bad plans..

My romantic history shows that I have had many.

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has no one thought about the possibility that a lot of these people are not buyers, but in fact sellers checking out the competition, or just nosey homeowners wanting to see their neighbours houses.

You don't need to register to check out the competition - that's what the internet is for

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Guest wrongmove

That would be superb if anyone had anymoney left after all of these price rises...

Do not assume that just because young, working people are skint, that everyone is skint. There is lots of cash sloshing around out there - in UK, and particularly in resource rich ME and Russia.

Think of all the people who have £300k houses bought on £80k mortgages. Loads of equity, and loads of savings from their low cost of living. Sure, there are many MEWed up nutters, but that is certainly not everybody.

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Do not assume that just because young, working people are skint, that everyone is skint. There is lots of cash sloshing around out there - in UK, and particularly in resource rich ME and Russia.

Think of all the people who have £300k houses bought on £80k mortgages. Loads of equity, and loads of savings from their low cost of living. Sure, there are many MEWed up nutters, but that is certainly not everybody.

BILL GATES TO FORGE CHARITY AND RESCUE HOSUING MARKET.. HE CAN AFFORD TO..

SO OF COURSE WHAT ELSE WOULD HE DO?

MY GOD

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While the vast majority of these buyers are existing home owners, they are refusing to put their own property on the market, it said.

If the vast majority of these buyers are exising home owners, this represents a net new demand of close to zero. The fact that these people are refusing to put their own property on the market suggests that they are either speculating or are not serious about buying.

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If the vast majority of these buyers are exising home owners, this represents a net new demand of close to zero. The fact that these people are refusing to put their own property on the market suggests that they are either speculating or are not serious about buying.

Or maybe they are planning to let their old property rather than sell it (LTB).

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Or maybe they are planning to let their old property rather than sell it (LTB).

And if that's the case, rents can only go one way - down! If renters demand more and pay less, how long is it going to be before they get bored with this game and move on to the next one?

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Or maybe they are planning to let their old property rather than sell it (LTB).

For me that qualifies as speculation. Rental returns are now too low to describe it as anything else.

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For me that qualifies as speculation. Rental returns are now too low to describe it as anything else.

And yet, as you said earlier, French rents are more than three times lower still! How do they do it? (And how do their house prices compare with ours?)

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Im registered with my EA's. But i have no intention of buying yet. What an absolutely useless survey by an EA chain to gain publicity.

If you are going to do a survey do one that has some value.

I'm registerd with pretty much every EA around here and there are a lot....and I'm not going to buy ether... ;)

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I'm registerd with pretty much every EA around here and there are a lot....and I'm not going to buy ether... ;)

Sounds like a desperate stat that the EA's have found as its getting harder for them to find positive spin news. I guess with this one they are hoping to induce some panic buyers before all those newly registered buyers get chance to look at properties and put in some offers!

And unfortunately this kind of sale-pitch works on the sheeple who still think the Country is in tip-top shape for the future. :ph34r:

AFP

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As I want a house I could describe myself as a house-hunter. However, as I'm only hunting for a house I can afford my state of wanting a house is hardly about to push prices up. I wonder how many more of the house hunters that the VIs are basing their spin on are like me?

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Funny how when there's a statistic produced the bears don't like its VI spin but when there's a negative story in the press its picked up on as proof the market is crashing! lol this site is such a larf!

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Funny how when there's a statistic produced the bears don't like its VI spin but when there's a negative story in the press its picked up on as proof the market is crashing! lol this site is such a larf!

are you suggesting that this survey is as concrete as a rise in interest rates, repossesions, bankruptcies?

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Funny how when there's a statistic produced the bears don't like its VI spin but when there's a negative story in the press its picked up on as proof the market is crashing! lol this site is such a larf!

I'm intrigued. Do you think the statistic has any credibility?

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  • 302 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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