Friday, January 15, 2010

Sales up but prices down – rejoice!

Bovis Homes sees reservations rebound but remains cautious for 2010

Bovis Homes saw reservations rebound more than 82pc last year but warned that the restricted mortagage market will keep sales below their historical average this year. Bovis had 1,801 private reservations in 2009, up from 989 in 2008, although the average selling price slipped to £165,500 from £181,000. However, the homebuilder cautioned that the requirement for large deposits, particularly for first-time buyers, will remain a drag on the housing market this year.

Posted by drewster @ 04:01 PM (1138 views)
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4 thoughts on “Sales up but prices down – rejoice!

  • letsgetreadytotumble says:

    FTBs need large deposits because they have no equity. Banks want high deposits because they know prices will go one way.
    Why do the British public buy overprices houses? Are we up against the nesting instinct, something that needs controls?

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  • cynicalsoothsayer says:

    Do reservations == sales?

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  • Enoughalready says:

    The buyers are all public sector workers!

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  • markj69 str05 says:

    £181K to £165K = Approx’ -9%. A little different from the so called national avg’ increase of around +6%. So in reality they dipped by 15%.

    I bet no corners have been cut there. Must be real quality property.

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