Friday, Nov 17, 2006

FTB numbers up? Enquiries/applications certainly are...

Firstrung: First time buyers 'bounce back' in October - NAEA

First time buyers made a dramatic return to the housing market in October increasing their market share to an encouraging 16.4%; this is up from 11.1% in September. This is the highest percentage of first time buyers reported since April 2005 when first time buyers accounted for a healthy 23.6% of the market. This increase could be akin to a slow down in the market with first time buyers taking advantage of a decrease in buyers on books. However, the interest rate rise will certainly work against this vulnerable sector.

Posted by converted lurker @ 12:42 PM (418 views)
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13 Comments

1. uncle chris said...

Lambs to the slaughter I'm afraid. When you realise that we have the highest GDP debt in the developed world, you start to realise just how precarious this countries financial position is. And I'm afraid it will be the last lemmings who dive into the current madness who will have the most to lose and, and will pay for it most likely for the rest of their lives.

Friday, November 17, 2006 12:55PM Report Comment
 

2. Ejc75 said...

A meaningless %. Why don't they tell us what the actual number is ? I work in quant market research and i can make % and averages mean what the hell i like as long as it sells the story i want it to.

Friday, November 17, 2006 01:21PM Report Comment
 

3. Bubbles. . . said...

Total idiots. The last leap of faith into property obviously pressured into the bubble just on the brink of when the pin will be pushed in with higher rates on the agenda. How many have thought about the commitment of a 25 year mortgage, and think that intrest rates will surely not go up again! Ho Ho.

Friday, November 17, 2006 01:29PM Report Comment
 

4. Earth said...

'Housing stock replenished slightly in October with an average of 64 properties for sale per agent, up from 61 in September, a 4.9% increase. This is also a 4.95 increase from October 2005.'

This artical exemplifies how insignificant these statistics are. A 4.9% increase equates to an averaged figure of 3 extra houses up for sale per agent.

Friday, November 17, 2006 01:38PM Report Comment
 

5. Scumbag said...

Is this because 'return buyers' are regarded as FTBs now?

Friday, November 17, 2006 01:49PM Report Comment
 

6. Rubberneck said...

...yes yes, but what's with all the pointeless stats? Reading this has the same effect on me as listening to the SFL division 3 results. East Fife four, Montrose 2......zzzzzzzz. Oh I forgot, he's an estate agent. Spouting boring twaddle is his vocation in life.

Friday, November 17, 2006 02:39PM Report Comment
 

7. Bubbles. . . said...

Oh dear..The last panic for 1st time buyers piling in to keep Gordons miracle economy going..! Guess we are all going to work for Tescos soon.. Cos there the only jobs that will be available...

Friday, November 17, 2006 03:25PM Report Comment
 

8. Bubbles. . . said...

All going to end in misery....

Friday, November 17, 2006 03:28PM Report Comment
 

9. Surfgatinho said...

Quick, pile in before it all goes tits up!!!

Friday, November 17, 2006 03:34PM Report Comment
 

10. tyrellcorporation said...

Utter Bollox - excuse my Westcountry!!!

These are most likely people who sold to rent a few years back and have finally caved in for fear of never being able to afford a house in their own country again. There was a mention about 8 months ago that EAs are distorting the definition of a first time buyer - First time buyer now seems to actually mean someone who not too long ago owned a home. Bizarre indeed...Don't believe the hype!

Friday, November 17, 2006 03:57PM Report Comment
 

11. Bfskinner said...

on the books does not mean they will buy. With interest rates on the up, and the traditional winter slow down approaching, I recently thought I'd test the waters of below asking price offers, to see where my local market is at. Unfortunately it is not at the level I would want, so I'm not buying and knew I was unlikely to do so. However, this does not stop me being counted by the agents as returning to the market. I wonder if I have been counted in once or by each agent. If the later then I may actually count as 5 people returning. just a thought. Thre main pint is that these figures do necessarily tell us anything, beyong putting some confidence into the market.

BFS

Friday, November 17, 2006 04:52PM Report Comment
 

12. Enuii said...

I am watching children in need cos if they don't raise more money than last year it is tangible proof that folk are starting to hang on to their pennies. When people stop giving to charity then a recession/crash is on the cards.

Friday, November 17, 2006 08:58PM Report Comment
 

13. Albertino Albertini said...

Fook's sake. Can these people please stop being so damned stupid?

Friday, November 17, 2006 11:10PM Report Comment
 

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