Monday, July 13, 2009

NAEA sees Specsavers

NAEA sees improvement in housing market

10% drop in trade volume MoM. 3% drop in registered buyers MoM. But no sir! It is an improvement, sir! And I swear on my dead grandma this time it is really a greenshot, sir!

Posted by peter_2008 @ 01:31 PM (1322 views)
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8 thoughts on “NAEA sees Specsavers

  • “Meanwhile, the NAEA said there was a slight fall in the number of prospective buyers registered with estate agents, with this figure decreasing to 290 in June, compared with 299 in May. However, the organisation points out that this is still the highest number for over a year.”

    So the figure fell from 299 to 290 in one month. But apparently 290 is the highest number for a year? Erm, that doesn’t make sense… surely 299 is the highest number for a year!

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  • The BBC will pounce on this like a fly on erm … yes.

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  • tyrellcorporation says:

    I absolutely 100% think the bounce has ended. Anyone with liquid cash has now exhausted it and the market is now totally reliant on new mortgage applications to fund house purchases. The market is utterly dead in Exeter and EAs are hurting. Seller are waiting for the green shoots to grow into another boom and buyers are sitting on their hands or cannot get finance. Stalemate will kill EAs stone dead!

    A good time to buy will be November-ish (if you can actually find a house worth buying).

    My current thoughts are the housing market is now like the final 1/2 hour at your local meat-market nightclub. All the best ones have been taken and you’re now left with the dross. Only those with serious beer goggles will dabble with the slim pickings and waking up the following morning next to Julie T Wallace (a mid-terrace munter) will haunt you for years to come.

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  • tyrellcorporation I think that you are absolutely right. I’m here in South Devon too and slowly the better houses are moving, but as they sell they are not being replaced. At the beginning when house price falls were quite steep I was monitoring the number of properties each agent had on its books. Now a few months later they have around 30 properties less and their stock seems to be falling from week to week. I think we are reaching some kind of stalemate between buyers and sellers or ‘brickour mortis’ as I once heard it described. I think we have got some interesting times ahead. I really don’t know which way this is going to go. As I rent at present I know which way I would prefer.

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  • mark wadsworth says:

    “… ahead of an expected seasonal dip throughout the summer …”

    @ TC, I’d phrase that “Anyone with liquid cash WHO FELL FOR THE GREEN SHOOTS SPIN has now exhausted it”

    I’d pencil in November as well, November 2011, that is.

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  • Now the likes of MyChoice HomeBuy and Ownhome have quietly been slid into the bin we should see a reduction in the number of people at the lower end of the market. Without the bottom end moving the whole thing will start to seize up again. Give it a couple of months and Haliwide will be posting 2% MoM falls again. My suggestion for the next 12 months – popcorn 😛

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  • I thought the land registry figures showed that prices had gone down each month (albeit slowly). The spring ‘bounce’ was probably just the usual seasonal variation in prices so falls later in the year would be expected.

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  • tyrellcorporation says:

    @4 Mark you’re probably right although Exeter is an oddball place with most people being employed by the state and it’s also about as rural as londoners want to go (there’s a ‘cafe culture’, whatever that is!) so is a big target location for them to come and reproduce. I can see only another 20% drop here max.

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