Friday, Aug 11, 2006

Property sales rise by 40%..... (well, according to Estate Agents)

National Association of Estate Agents: Sales up by 40% on same period last year

Results from the July housing market survey conducted by the National Association of Estate Agents (NAEA) revealed continued strength and confidence in the market.

* Sales up by 40% from July 2005
* Asking prices continue to rise
* First time buyer share of the market remains steady
* Lettings Market remains strong
* Rents rise
* All factors point to stability

NAEA President, Charles Smailes, comments: Things are looking up for the wider housing market. The market is clearly stable and the continuation of a reasonable supply of properties coming on to the market bodes well for the future ... the market crash that some have predicted is looking less and less likely.
http://www.naea.co.uk/uploaded_photos/news/JulyhousingmarketFinal.doc

Posted by little professor @ 09:03 AM (531 views)
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13 Comments

1. harold said...

"The National Association of Estate Agents (NAEA) is the UKs leading professional body for estate agency personnel, representing the interests of approximately 10,000 members "

Say no more.

Friday, August 11, 2006 09:15AM Report Comment
 

2. Bfskinner said...

hmmmm,

"all factors point to stability".

I'm not so sure
sales are down month on month from june to july. FTBers remain below 50% of the long term averagae need to ensure continuing growth and rents are up, thus effecting the ability to save a deposit in an already growing market. No mention of 4.75% base rate or the liklehood that this will be 5-5.25% by the end of the year and possilbe 5.5% by sometime next year.

this doesnt point to stability for me. While it may seem the market is currently stable this seems to me to be sowing the seeds of future destabilisation.

or maybe its just me?

BFS

Friday, August 11, 2006 09:16AM Report Comment
 

3. denzil said...

>>"Things are looking up for the wider housing market"

HHmmmmmmm, at absolute best the market will go through a number of years of stagnation due to no first time buyers and little to no yield on buy-to-let.
With and interest rate rise in place and a high probability that more are in the pipeline I'm afraid Mr Smailes of the NAEA is achieving nothing more turd polishing.

Friday, August 11, 2006 09:39AM Report Comment
 

4. Geneer said...

Of course they are Mr Estate Agent. Of Course they are.

Friday, August 11, 2006 09:41AM Report Comment
 

5. Freewheeling Franklin said...

During my last brief visit to the UK I spoke to a few estate agents and they all said that the market was flat; too few properties coming on (perhaps because the exense of trading up bothers even home owners) and few buyers out there.

Come judgement day they'll be saying; "of course the final judgement by the Lord God Almighty represents a fantastic buying opportunity with a number of highly sought after properties coming onto the market at competetive prices due to the end of history."

Mind you - I shouldn't joke - estate agents would be the last group on earth to welcome the final judgement, poor things.

Friday, August 11, 2006 10:19AM Report Comment
 

6. George Monsoon said...

Why are we giving this article serious attention?
It is quite obviously Drivel.

Friday, August 11, 2006 11:11AM Report Comment
 

7. Thesqueeze said...

Excellent! Housing market looks pretty strong to me, so need to worry about the threat of more interest rate hikes then right?

Friday, August 11, 2006 11:29AM Report Comment
 

8. inbreda said...

If they're trying to imply that the housing market is perfectly fine DESPITE the quarter point raise, despite the fact that the stats are made of sales begun some time ago, then I fear they may be jumping the gun.

Friday, August 11, 2006 12:10PM Report Comment
 

9. Northern Lad said...

EA's... the biggest liars of all!

Friday, August 11, 2006 03:03PM Report Comment
 

10. talking rot said...

I can't even read this article. It will either make me scream with frustration or throw me into despair again. I know, because a bunch of EAs are saying the market is stable, I'll rush out to buy a house for a grosse amount of money and pay 50,000 for a Ford Focus as well. Afterall, EAs have not been wrong yet - unl;ike those nasty doomsters on the House Price Crash Blog.

Hmmmmm. Perhaps I'll just keep my nerve a bit longer, like 4 years?

Friday, August 11, 2006 03:49PM Report Comment
 

11. Ticktock said...

squeeze,

Very good! Its true, the more they lie the worse it gets for them. If they succeed in talking up the market, then more rises will follow as a result!

Friday, August 11, 2006 05:05PM Report Comment
 

12. indiablue19 said...

HELLO CHICKENS!......This is Fox speaking! Now pay attention! There is no reason to hide in the hen house! I repeat! ... No reason whatsoever to hide in the hen house.....!

Yes, thank you Mr. Fox.

Friday, August 11, 2006 05:31PM Report Comment
 

13. Cstanhope said...

Come on "Indian Outsourcing" surely we can get you guys to replace our Estate Agents. Hay what a great idea....

Friday, August 11, 2006 06:14PM Report Comment
 

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