Hometrack - March 2008

[BufferBear Bitcoin Bull]

House prices continue to slide

28 March, 2008

House prices fell for the sixth month in a row over March, according to Hometrack's national housing market survey. Average prices were down by 0.2% over the month with the annual rate of growth slipping to +0.4%, the lowest level for two years since March 2006. The survey highlighted a continued improvement in both levels of demand and transaction levels although pricing levels are likely to remain under pressure over the coming months.

[BufferBear Bitcoin Bull]

Link

http://www.mortgageintroducer.com/mortgage...ue_to_slide.htm

[geed]

"The survey highlighted a continued improvement in both levels of demand and transaction levels although pricing levels are likely to remain under pressure over the coming months."

Do they quote any figures to back up this dribble? Ah maybe i should check out the link!

[geed]

"The survey highlighted a continued improvement in both levels of demand and transaction levels although pricing levels are likely to remain under pressure over the coming months."

Do they quote any figures to back up this dribble? Ah maybe i should check out the link!...........

"Last month's survey reported the first increase in new buyer registrations since summer 2007 (June 2007). This trend continued, to a lesser extent over March, with a 1.2% increase in the number of buyers registering with agents. The survey also identified an 8% increase in sales agreed over the month after a 20% increase over February. The average time to sell a property remained unchanged at 8.5 weeks.

Richard Donnell, director of research for Hometrack, said: "Some bounce-back in market activity was inevitable after what has been a prolonged period of weak market activity. However the growth in demand over the last two months is only a third of the level seen in previous years so the spring market is likely to be a non event this year. Indeed, the likelihood of any sustained increase in demand over the spring period is very limited. Continued uncertainty in the financial markets, affordability pressures and weak buyer confidence are all likely to suppress levels of market activity in the months ahead with pricing levels remaining under pressure."

At least Richard Donnell comes clean in the end predicting no spring bounce, alot of jumbled up stats to murk the water in the report though, the important ones "Average prices were down by 0.2% over the month with the annual rate of growth slipping to +0.4%"

Edited March 28, 2008 by geed

[jm78]

I miss the old days. How do these reports slip down and off the forum without pages and pages of discussion and ranting? What is going on?

[bobthe~]

"The survey highlighted a continued improvement in both levels of demand and transaction levels although pricing levels are likely to remain under pressure over the coming months."

Do they quote any figures to back up this dribble? Ah maybe i should check out the link!

I don't think they should be considering someone a potential buyer until they have:

A piece of paper from the lender saying they can get a mortgage for£x

their house already up for sale (if they have one).

In the case of the former, I suspect buyers are rather thin on the ground.

[Bearfacts]

At least Richard Donnell comes clean in the end predicting no spring bounce, alot of jumbled up stats to murk the water in the report though, the important ones "Average prices were down by 0.2% over the month with the annual rate of growth slipping to +0.4%"

That's funny because the Times property Rag edited by that genius Anne Ashworth is still printing Hometrack data showing annual inflation at over 8%.

[the_duke_of_hazzard]

I miss the old days. How do these reports slip down and off the forum without pages and pages of discussion and ranting? What is going on?

The house price crash will be the death of this site!

[the_duke_of_hazzard]

I like this quote:

"Despite this, demand for housing still exists but the majority of households simply do not need to move.

Riiiight.