Thursday, Nov 23, 2006

The beginning of the end or just a seasonal tail off?

Reuters: Property sales fell sharply in October

LONDON (Reuters) - The number of property transactions in England and Wales fell sharply in October to their lowest level in more than a year, tax authority data showed on Tuesday.

Revenue and Customs department said the number of property sales fell to 118,000 in October in seasonally adjusted terms from 147,000 in September.

That was the lowest level since May 2005 when 117,000 sales were recorded.

Posted by monty @ 09:09 AM (431 views)
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4 Comments

1. Nohpc said...

I can feel a repeat of 2005 coming on now.

Thursday, November 23, 2006 09:57AM Report Comment
 

2. Sam said...

Not sure, I can see people holding their cards close to their chests to see where this flutter goes. Perhaps with xmas bonuses property will gain some confidence back, although it is a bubble and if sentiment goes the other way.

then it's up to btl'ers, with such a huge variety of landlords, from those who've been renting out over 10 years (probably making a huge return) to maxed out newbies running at a lose hoping for future gains. How they react on a change of sentiment could mean everything from no price increase for a few months, to a full blown ski slope crash.

oh, that's not taking into unemployment, interest rates etc...

Finally, how come this story can come out now, where as this story is relatively over a month later. http://news.bbc.co.uk/1/hi/business/6142986.stm

has the BBC now decided to pick news to spin it the other way?

Thursday, November 23, 2006 02:09PM Report Comment
 

3. inbreda said...

I don't imagine there will be a recovery

Thursday, November 23, 2006 02:28PM Report Comment
 

4. Bryan said...

Time for the BoE to lower interest rates then.

Thursday, November 23, 2006 09:00PM Report Comment
 

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