Jump to content
House Price Crash Forum
Sign in to follow this  
Guest Shedfish

Land Registry’s Figures For June 2008

Recommended Posts

Guest Shedfish

I hadn't realised just how terrible the figures were

In June 2006 there were 124,000 homes sold in England and Wales. In June 2007 there were 105,000 properties sold. (A drop of 15 per cent)

So far, just 17,681 sales have been recorded in June this year. (A drop of 83 per cent)

more at The 10 easiest postcodes to sell property, in The Times

great picture too... and the photographer has a few more funnies

---------------------

A drop of 83 per cent

Share this post


Link to post
Share on other sites

dead cat splat.

TBH, the number of sales recorded is going to increase as many places "sold" in june will not actually make the records for a long time. Or am I wrong?

funny-sign-free-dead-cat-on-highway.jpg

Edited by jonewer

Share this post


Link to post
Share on other sites
1.CV6 (Coventry): 442. CR0 (Croydon): 403. S6 (Sheffield): 364. BN3 (Hove): 355. SW19 (Wimbledon): 356. BN1(Brighton): 347. E14 (Poplar): 348. ST5 (Newcastle-under-Lyme): 349. FY8 (Lytham Saint Annes): 3310. SG2 (Stevenage)

We're a bit slow to catch on down here! BN1 and BN3 both there. So what was Stevenage, then?

Share this post


Link to post
Share on other sites
dead cat splat.

TBH, the number of sales recorded is going to increase as many places "sold" in june will not actually make the records for a long time. Or am I wrong?

funny-sign-free-dead-cat-on-highway.jpg

:lol::lol::lol:

Share this post


Link to post
Share on other sites
Guest Shedfish
yep - afraid it's a pointless article

do you believe they've mislaid 100,000 transactions for June 08?

Share this post


Link to post
Share on other sites

It is shocking, I don't know how the EA's are survving.

I hope they hurry up and start shutting. It will add exra pressue to the whole market.

Share this post


Link to post
Share on other sites
do you believe they've mislaid 100,000 transactions for June 08?

I just meant the Times article is pointless because it isn't comparing like with like - we have no idea what precentage of June sales have been registered yet

Share this post


Link to post
Share on other sites

Dear Points of View/Wogan,

Why oh why do people keep using the phrase "dead cat bounce" ?

The one I just chucked out the window didn't bounce at all !!!

:huh:

gB

Share this post


Link to post
Share on other sites
It is shocking, I don't know how the EA's are survving.

I hope they hurry up and start shutting. It will add exra pressue to the whole market.

Amen to that. Round here they'd rather go out of business than slash prices. Scum.

ONe house in an EA window had "quick sale required"..

Ooh, how about getting a quick sale by REDUCING THE PRICE YOU GIMPS.

Sheesh these idiots deserve to go out of 'business' (although how being 2nd hand house salesmen is called a business I don't know) asap and stop darkening my door.

Share this post


Link to post
Share on other sites

83% drop?

Imagine an 83% drop for EAs - 83% drop whilst rents, rates, wages, taxes, advertising, fuel and more STILL need to be paid.

I don't know of any business with any type of infrastructure that could survive an 83% drop. Crazy times.

Share this post


Link to post
Share on other sites
I hadn't realised just how terrible the figures were

more at The 10 easiest postcodes to sell property, in The Times

great picture too... and the photographer has a few more funnies

---------------------

A drop of 83 per cent

be very careful, it takes up to 3 months for figures to come through, waiting through 'July' is waiting for the start/only one month of figures, look back to April 08 and compare to previous years for a clearer picture.....

Edited by moosetea

Share this post


Link to post
Share on other sites
83% drop?

Imagine an 83% drop for EAs - 83% drop whilst rents, rates, wages, taxes, advertising, fuel and more STILL need to be paid.

I don't know of any business with any type of infrastructure that could survive an 83% drop. Crazy times.

Rents, rates, wages, taxes, advertising, fuel and more STILL rising in price - and by lots!!

Edited by Sinking Feeling

Share this post


Link to post
Share on other sites
Wasn't the number of mortgages 42,000 NSA, 36,000 SA?

yes

also sales completed in June will have had mortgage approvals some weeks before - so the comparison is with April or May approvals which were higher

then you add in the cash sales

the actual figure when it is released in October could be 50,00 or more

Share this post


Link to post
Share on other sites
Wasn't the number of mortgages 42,000 NSA, 36,000 SA?

Yes, thats mortgages approved, the figures quoted are completed house sales.

The guy on the bbc theother day quoting these figures went on to explain that many many done and dusted deals failed to complete, for various reasons, buyers cold feet, buyers not getting the mortgage required, low valuations etc etc.

Share this post


Link to post
Share on other sites
Yes, thats mortgages approved, the figures quoted are completed house sales.

The guy on the bbc theother day quoting these figures went on to explain that many many done and dusted deals failed to complete, for various reasons, buyers cold feet, buyers not getting the mortgage required, low valuations etc etc.

Didn't think of that, thanks!

Share this post


Link to post
Share on other sites
dead cat splat.

TBH, the number of sales recorded is going to increase as many places "sold" in june will not actually make the records for a long time. Or am I wrong?

You are wrong, if I understand your "sold" correctly. Sold is not when someone offers to buy. It is when the sale is completed and the paperwork goes through. Late paperwork may lead to some future adjustment but only by a small amount as the figures are already a month old.

Share this post


Link to post
Share on other sites
Yes, thats mortgages approved, the figures quoted are completed house sales.

The guy on the bbc theother day quoting these figures went on to explain that many many done and dusted deals failed to complete, for various reasons, buyers cold feet, buyers not getting the mortgage required, low valuations etc etc.

I read somewhere that even in the full on boom only one in three 'sold' houses made it to completion. Most of them would have had mortgages approved before the chain collapsed.

Share this post


Link to post
Share on other sites
Yes, thats mortgages approved, the figures quoted are completed house sales.

The guy on the bbc theother day quoting these figures went on to explain that many many done and dusted deals failed to complete, for various reasons, buyers cold feet, buyers not getting the mortgage required, low valuations etc etc.

good point

for comparison, the latest sales volume fron the LR was 58,000 in April - the NSA BoE approvlas for April was 66,000

so if June is anything like this we're lookng at 30,000-40,000 sales

Share this post


Link to post
Share on other sites
You are wrong, if I understand your "sold" correctly. Sold is not when someone offers to buy. It is when the sale is completed and the paperwork goes through. Late paperwork may lead to some future adjustment but only by a small amount as the figures are already a month old.

If what I read is correct, solicitors have 2 months in which to register the sale.

Since they won't be run off their feet with the current transaction volumes you would guess that most of them will have registered the June sales.

Share this post


Link to post
Share on other sites

To add to my earlier post, I am aware that solicitors have three months to hand in the paperwork but with the drastically reduced workload they should be getting it in quicker these days.

I see two more factors to consider when trying to predict the final figure.

The market is slowing all the time so there will have been more sales in early June than later.

Those getting mortgages approved may pull out as the market falls further. This would not have been a factor in the June 07 Mortgage approved/completed sale ratio.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 399 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%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.