Wednesday, June 30, 2010

As predicted

World Cup fever slows house sales

The World Cup and Wimbledon are to blame for house sales falling by 5.3% in June, according to Agency Express. In their Property Activity Index the estate agent found sales were down 7% on June 2009. Stephen Watson, managing director of Agency Express, says: “ The heightened interest in the World Cup and the number of games shown live seems to have drawn people’s attention away from closing the deal on their prospective properties.

Posted by jack c @ 02:53 PM (2842 views)
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23 thoughts on “As predicted

  • HA…Ha. Nothing to do with rices being too expensive.

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  • mark wadsworth says:

    Cue cartoon of German football team in Wehrmacht uniform shouting “For you Tommy, ze Hauspreis Bubble is ofer!”

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  • gone-to-colombia says:

    As predicted on this site, but only as a comic aside

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  • mark wadsworth says:

    Hang about here, the World Cup is a once-every four years thing (or every two years if you count European Cup) but what the heck does Wimbledon have to with it? Doesn’t that happen every year?

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  • oops i just farted, that slowed retail sales, house prices have slumped, inflation dropped, trains have stopped, government in a panic, MI5 is after me, all because i farted

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  • BAN ALL SPORT.

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  • It’s rubbish really!! If people were seriously wanting to by a house, it’s not exactly hard to arrange viewings or appointments in between football matches.

    Next we’ll hear the economy and house prices will tank because of England’s early exit from the tournament :-p

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  • “Now that England have crashed out of the tournament after a number of lacklustre displays we can expect home buyers to return to the housing market with real conviction to get their new property sorted.”

    And when they don’t, will it be because the weather has been too good? Or maybe because Murray got into the 2nd week at Wimbledon?

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  • mark isnt that spelt with a ph?

    recaptcha – the sunbeams

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  • People stand in a queue to buy the next generation iPhone but can’t be arsed buying a house at the moment because the foo-ee is on. Makes sense to me. Let’s hope, for the sake of the economy and the home-ownerists that nothing good is put on TV for the next 2-3 years.

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  • apologies Alan – you “beat me too it” :-).

    recaptacha – groaning released (after 2 gos to be fair!)

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  • So we have the World Cup/Wimbledon excuse in the bag – other than the prospect of a decent summer and/or everyone going on overseas holiday – what is the next excuse on the horizon?

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  • The West Midlands saw a dramatic slump of 26.4% of houses sold in June, with the South West experiencing an 11% fall, Wales down 10.6% and London 7.7%.

    Birmingham is the hardest hit city with a 34.7% drop.

    But ‘For Sale’ signs are on the rise in the West Midland, London and the North East, which saw a jump of 22.3%.

    WOW !!

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  • mark wadsworth says:

    @ Jack C, this summer will either be scorching hot (so people have better things to do than house hunt) or it will be p*ssing it down (so house hunters deterred by rain); then it will be “hiatus while kids go back to school”. And it’ll be dead quiet on the weekend that HM Queen celebrates her 62 anniversary.

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  • Property Norwich says:

    I think now that all the furor has died down then the market will be back to where it was – pre world cup!

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  • So the West Midlands saw a drop of 26.4% of houses sold and this is because of the football, yet it saw a jump of 22.3% of properties for sale at the same time. That’s an amazing correlation between house traders and football fans – everyone who likes football is looking to buy and everyone who doesn’t is looking to sell – spooky really

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  • It’s an example of one of our most common cognitive errors, to seek evidence that confirm our beliefs.

    (Don’t normally post here but reCaptcha : homes bursted!)

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  • Recaptcha: “Pleasure own”….!!!!?!

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  • @Mark Wadsworth at 4 (and others)

    My wife used to work for an EA. The 22nd June – the traditional start of Wimbledon – is well-known in the trade as the start of the phones going quiet. Good times or not.

    We’re in a phoney market anyway, so it’s probably even more obvious to people.

    Time to sit back and watch

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  • In Solihull, where we sold three years ago, the market appears very active, many sold signs and prices similar to when we sold. However, there were many more houses for sale on internet sights and in the local newspapers than there were agents’ boards – this would seem to be a sensible ploy by agents. “Sold” signs appeared to be dominant and there appeared to be less choice than there actually was.

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