Friday, July 9, 2010

-0.5% MoM +7.7% YoY

June Index

Or as the Express puts it: HOUSE SALES SOAR 20% IN JUNE

Posted by phdinbubbles @ 09:49 AM (1793 views)
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7 thoughts on “-0.5% MoM +7.7% YoY

  • mark wadsworth says:

    That Express article is a classic of the genre.

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  • If transactions have increased by 20% that’s very significant. Doesn’t particularly ring true with a fall in prices.

    I guess this could be a reflection of reports a month or 2 ago of some lenders going back to 90% LTV (10% deposits) and this has sucked in a raft of people with only small deposits buying 1-2 bed flats etc. which has brought down the average sales value.

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  • str – I disagree with an increase in transactions not ringing true with a fall in prices. I think one of the reasons prices have held up is because people, and in particular FTB’s, haven’t been prepared to stomp up the stupid asking prices, causing low transaction numbers. It’s like promotions in the supermarket – make something half price and it flies off the shelves – whether it’s good value or not.

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  • What’s interesting is how “cash only” buyers have increased from 15% to 30%

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  • perhaps the banks are offloading their properties? lthough that would probably happen through auctions nd they wouldnt be recorded in teh figures??

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  • ‘Or as the Express puts it: HOUSE SALES SOAR 20% IN JUNE’
    Same take as the Scottish news on ITV, smugly reporting that house prices are up 20% over the last year in the east of Scotland. Yet there are plenty of properties that have been on the market for months and even years and not selling, plus more and more being offered at fixed/reduced prices. Totally irresponsible reporting that feeds sellers expectations.

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  • I don’t think there’s any doubt that the volume of sales has increased, looking through a series of estate agent offerings in Devon and I would guess that at least a quarter of them are showing as STC or under offer and that’s in sharp contrast to previous months – anything that might have interested me has gone and now my tier two is under attack. I see evidence that some sellers have lowered their prices but overall I would describe the market as quite bullish and am not looking forward to reading the July statistics, my guess again is that prices will show to have continued their upwards march, sad really.

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