Monday, Jun 05, 2006

Homebuyer confidence

icStaines: 'Fresh confidence' among homebuyers

The number of people planning to move home has doubled since the beginning of the year as confidence in the property market remains strong, research shows. Around 15% of people now claim they plan to buy a new house before next winter, compared with just 7% at the beginning of the year, according to Alliance & Leicester.

Posted by jason @ 07:26 AM (518 views)
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13 Comments

1. jason said...

The Guardian are running this story too:

http://www.guardian.co.uk/uklatest/story/0,,-5865259,00.html

Monday, June 5, 2006 07:47AM Report Comment
 

2. jason said...

Oh, and here's the full report direct from A&L:

http://www.alliance-leicester-group.co.uk/upload/pdf/PR0206061.pdf

Monday, June 5, 2006 07:51AM Report Comment
 

3. Twopper said...

Probably just as reliable as a CLAPOMETER.

Monday, June 5, 2006 09:08AM Report Comment
 

4. Inbreda said...

Lazy bldy journalists.

Monday, June 5, 2006 09:16AM Report Comment
 

5. Surfgatinho said...

It's all about psychology. Don't let articles like this get you down as the fundamentals are still getting worse every day for the houseing market - it's just the majority of the housebuying public haven't worked this one out yet. When they do ....

Monday, June 5, 2006 10:04AM Report Comment
 

6. denzil said...

Overall the report is poor and contradicts reports last week of FTB being around 7%.
So more people are considering moving now than in January. Surely a survey every single year would indicate a higher proportion of people would consider moving in the spring than the depths of winter. What would be good was if they compared it with the same period the year before and the year before that etc.

From anecdotal experience FTB'ers I work with are considering buying as they think that if they don't get on to the ladder now they never will. This is the general perception. Not one person I know other than myself is putting off purchasing because they believe saving is prudent because prices may fall. Sad but true.

Monday, June 5, 2006 10:21AM Report Comment
 

7. Inbreda said...

Statistics and lies. The proportion of FTB's has fallen to such an extent that even if only a few more return to the market, the claim will be "NUMBER OF FTBers DOUBLES AS RENEWED CONFIDENCE RETURNS TO THE MARKET. VIs PREDICT RETURN TO DOUBLE DIGIT GROWTH" Where as in actual fact the proportion of FTBs will still be at an unsustainable level.

Monday, June 5, 2006 12:23PM Report Comment
 

8. Les said...

Considering buying? wtf has that got to do with a game of soldiers.All that matters is ACTUAL sales, not considering.And who knows if any "survey" did take place.This is just "end of spring bounce,keep the momentum going"spin.

Monday, June 5, 2006 12:23PM Report Comment
 

9. sirgoogle said...

Interesting to see what happens to this "confidence" when (if) the BoE puts up the base rate.

Monday, June 5, 2006 02:09PM Report Comment
 

10. Londonkillsme said...

Denzil,

you and me both. Just about all my friends and colleagues have now bought and all are urging me to do the same while i still can. To resist this sort of pressure you need more than a working knowledge of economics. You also need a degree of socratic stoicism. The majority view can still be the wrong one. Trouble is, if i do prove to be right and prices fall then several of my friends will have got burnt.

Monday, June 5, 2006 02:13PM Report Comment
 

11. uncle tom said...

The CML stats show a rise in the percentage of FTB's to 38% - but the average value of the properties they are buying is less than 115k.

Given that there are hardly any properties in this price bracket south of Birmingham, it looks like FTB's are rampant in the northern half of the country, but not elsewhere.

Monday, June 5, 2006 02:15PM Report Comment
 

12. Jonathan said...

well speaking as a journalist there are clearly sceptics in the media. But one problem is that the weight of research comes from interested parties - so people in the industry have both the motive and the money to put resources into research and clearly they have little to gain from talking down the market. And the media reports news - note the letters N E W within the word news - if people keep producing 'new' figures they'll get reported.

That said this journalist's cursory research around his native East Sussex doesn't support the hype about mini booms. Now that research is very limited but the estate agents I've spoken to are pretty straight about admitting that prices aren't rising, that people are far more ready to rent than they were a few years back (even to escape a chain) and that not that many properties are making the asking price.

The next six months will be very telling. It may not take huge rise in interest rates to bring our debt crisis to a head and to burst the bubble. Let's wait and see

Monday, June 5, 2006 06:46PM Report Comment
 

13. Fair_deal said...

I too am waiting to let the big crash happen. I could afford to buy something (with my partner) in some London suburbs within the 2.5 joiny salary multiple but it still doesn't feel right somewhere. (needless to say i am paying 1000 pounds into rent per month). it is frustrating to pay such a huge amount of rent but then purchase option is equally bad. If the same flat that i rent now ( just BR) is purcahsed, I will have to pay min. 250,000 (as per the current market value) at the installment(including various insurances and updating) would come to aorund 1500 pe rmonth. At times i get too confused, impatient, worried (my age is increasing every year) I would never be able to go the property ladder etc. I even went as far as doing a survey on one of the houses that I liked, in this April but something just didn't click. it just doesn't seem to be the right option.
All my friends try to convince me that prices never go down etc etc. But it is not just the quesiton of proces going down somehow I could never bring myself to commit for 25 years to the nasty lending orgs...
Don't know if i am doing right or wrong. But yes it is definitely a test of my patience ....

Monday, June 5, 2006 11:03PM Report Comment
 

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