Thursday, September 9, 2010

NAEA – “people concentrating on their summer holidays”

Housing activity down in August, says NAEA

Activity in the housing market fell in August but the National Association of Estate Agents says that housing stock remains level. In its monthly activity report the NAEA shows that the number of house-hunters registered per branch decreased on average from 292 in July to 250 in August. The number of sales agreed per branch decreased from eight in July to seven in August. Average number of properties available for sale per branch increased slightly from to 68 in July to 69 in August and the percentage of first-time buyers decreased from 26% to 21%.

Posted by jack c @ 09:45 AM (1299 views)
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9 thoughts on “NAEA – “people concentrating on their summer holidays”

  • Well our local estate agent has sent round a news letter claiming their best August on record since starting in 2003.
    Apparently 24 sales.

    Based on £250k x 1% fee that’s about £60k for a months work – not bad.
    I suspect the average sale in nearer the £350k mark and fee 1.5% which would be roughly double the £60k of fees I suggested above.

    I think you’re in the wrong business – what ever it is. LOL.

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  • mark wadsworth says:

    Jolly good.

    Who’s going to call the next set of excuses?

    “Buyers concentrate on getting kids back to school”

    “Property market remains dampened during rainy Autumn” and/or “Indian Summer sees potential buyers on the beach”

    “Buyers put plans on hold in run up to Xmas”

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  • @str 2007 – from previous posts you indicated there had been a lot of activity in the Hampshire area so maybe the claim from your local EA is true and as a rough guide your figures show they are generating good monthly turnover – how the overall profitability then stacks up I’m not sure because I’ve no idea of staffing/office costs etc.. nonetheless you are right and I’m in the wrong business!

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  • So for every 250 buyers registered, only 7 sales are completed.

    How much longer can the agents survive beyond October’s FSA announcements?

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  • Jack

    I thought it had gone a bit quiet during the summer holiday so to be honest I was surprised to hear that news.
    This particular agent also claims about a 70 percent Market share in the area with one other serious contender and about another 3 or 4 that do virtually nothing.

    Looked on like that, still not a huge amount of sales overall for the area, but busier than I thought it had been.

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  • str 2007

    It might be the case that your local EA is being economical with the truth (you know my extremely low opinion of them) – ultimately to survive EA’s need volume sales and I think they will eventually become instrumental in a downward spiral in prices.

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  • crash bandicoot says:

    Mark W how about;

    “Housing market slow because house prices are too high”

    “Don’t you know that house prices only ever go up – and you are the generation that missed out”

    “House market stabilising as we’ve run out of greater fools”

    No I didn’t think so either.

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  • mark wadsworth says:

    As to turnover, HMRC do a handy spreadsheet showing monthly sales/purchases.

    The busiest 12 months were April 05 to March 06 = 1,702,000 sales/purchases; the least busy were July 08 to June 09 = 732,000 sales/purchases. The last 12 months have picked up a bit = 931,000 sales/purchases.

    @ Crash – dream on. Think about the fundamentals! House prices can only go up!

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  • 21% first time buyers… that must be near ponzi-scheme-tipping-point, surely

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