Saturday, June 27, 2009

An average of 31,091 per month between December and March

Sales volumes plummet 52%

The Land Registry’s House Price Index for May shows that the volume of properties priced between £250,001 and £300,000 suffered the greatest decline across the country last month, with sales down 60% to 1,527. The volume of properties priced between £50,001 and £100,000 experienced the smallest decline, with volumes down 20% to 6,293.

Posted by devo @ 09:51 AM (1480 views)
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13 thoughts on “An average of 31,091 per month between December and March

  • An apparent contradiction there in volumes plummeting while prices “stabalise”.

    Unless the low IR are allowing would be sellers to hang on, putting far fewer houses on the market. Is there somewhere we can check the “for sale” numbers for the same time last year?

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  • The total number of sales is not much greater than the sum of new homes completed + homes vacated following the death of the occupier (or their moving to a nursing home) – very, very low volume..

    Also noticeable is the aversion to paying stamp duty, with nearly three times as many sales in the £200k- £250k bracket as in the £250 – £300 bracket.

    I suspect that the great majority of sales in the £150k – £200k bracket are sub £175k bracket; thereby avoiding stamp duty altogether..

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  • I think you’ll find the LR May report quotes volumes for March .

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  • flintster1994 says:

    Temprorary stamp duty nil rate band is under £250,000 just now.

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  • Don’t know if this will work , but this is a compilation of screen dumps of LR reports .

    Free Image Hosting at www.ImageShack.us

    QuickPost Quickpost this image to Myspace, Digg, Facebook, and others!

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  • That’s great dead spider, thanks. So the houses are not out there for sale – 43% down on 08 and 69% down on March 07, big figures.

    So, UT, its probably the sellers who are more wary of the stamp duty thresholds. One day soon, methinks, the bullet will have to be bitten.

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  • interesting screen dump, it shows the people with probably the least experience of housing buying the most, assuming the people are buying to live in…

    If you assume the lower price brackets with maybe ages 20-30

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  • Something very unnerving going on round our way….. houses selling all of a sudden and all at once. Today I noticed x4 sold signs on our community that were not there a few days ago.

    There’s something going on that I don’t understand and I don’t much care for it……

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  • The following sentence was the most interesting; ‘Completed transactions have settled down at just over 30,000 per month, roughly a quarter of the long run average.’ Thats 1/4 of what they were less than 2 years ago.

    Have also noticed a few sold signs going up around my neck of the woods mostly on properties that are vacant possession (of which there are quite a few due to oldsters kicking the bucket) although there are no signs of new peeps moving in. Perhaps what we are seeing is extended chains and a lack of the more traditional Sold signs with Subject to Contract written underneath.

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  • a common trick for estate agents is to put a sign up on any house it doesnt matter then put a sold sticker on it… it causes panic, they did it during the 80’s

    I know someone it happened to, they complained to estate agent, they said it must be a mistake by sign company, sorry we will remove it, 2 months later he said he ripped it down and burned it…

    common rogue practice by estate agents, they really need to be governed…

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  • 1/4 of what they were less than 2 years ago

    Thank you enuii.

    A 75% drop in completed transactions.

    Think about it.

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  • I believe also estate agents are rogues , round my way a new fancy development had two sold signs on two apartments even before they were completed , 6 months later the signs are still up , still no sign of anyone moving in , and no other units are sold , I think this is a tactic to hook buyers

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  • Has anyone got any figures from the last crash and at what level of percentage transactions from the pceak that house prices truly started to go up again.

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