Friday, October 28, 2011

NAEA latest housing report

Buyer demand climbs to four-year high in September

Buyer demand for residential property increased for the second consecutive month in September to reach a four-year high, the National Association of Estate Agents’ latest housing report reveals................Wendy Evans-Scott, president of the NAEA, says: “It is encouraging to see that the number of enquiries is increasing, but sellers need to be very realistic when pricing their property in order to secure a sale in what is still a very cautious market.

Posted by jack c @ 01:00 PM (1972 views)
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14 thoughts on “NAEA latest housing report

  • sibley's b'stard child says:

    EAT are running the same report over there, this was my take on it:

    In other news, Ferrari dealerships up and down the country have reported an increase in passers-by looking in the window.

    A spokesperson for Ferrari said ‘while these aren’t translating into sales, it indicates increasing consumer confidence’.

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  • residential property on the game the sims maybe but not in real life this is utter BS

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  • Yep they might have more people registered as “looking for a house” but getting a mortgage and moving to completion is what really counts.

    Sib’s – on a personal note any news from HSBC?

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  • strangely the mechanic i spoke to this morning seem to think europe was fixed and all was ok now, he said he will be looking for a bigger house now as he thinks prices are about to shoot up, if most of the public think like him god help us all.

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  • mark – the “house prices only ever go up” mould is a tough one to break.

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  • we're all in this together says:

    I saw this on MSN Money. Due to something or other (excuse not ready yet) they left out one tiny detail – that while buyers increased from 304 to 308, the number of houses per branch also increased, from 65 to 72.

    So, unless my arithmetic deceives me, that’s a one per cent increase in “buyer demand” and a ten per cent increase in people trying to sell. A heady cocktail indeed.

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  • we're all in this together says:

    I saw this on MSN Money. Due to something or other (excuse not ready yet) they left out one tiny detail – that while buyers increased from 304 to 308, the number of houses per branch also increased, from 65 to 72.

    So, unless my arithmetic deceives me, that’s a one per cent increase in “buyer demand” and a ten per cent increase in people trying to sell. A heady cocktail indeed.

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  • sibley's b'stard child says:

    Nothing yet Jack, he reckoned 5-6 working days.

    Regardless of the outcome I don’t want to go through that again in a hurry; sitting through a two-hour appointment, a screaming toddler, and an advisor that liked the sound of his own voice.

    Now, where did I put those Beta blockers?

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  • Sib’s – thanks for the reply, will await news of their decision – I guess a decline might suit you but an acceptance for your Wife – anyway whatever happens I hope it all works out in the end. I did say a while back that mortgage work on purchases was a nightmare (re-mortgages slightly less so). Speaking to a gut the other day who had 5 recent enquiries for purchases and so he upgraded his mortgage sourcing software (£600) – not one got to completion !

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  • mark wadsworth says:

    WAITT, good number crunching there, but the underlying figures are meaningless, as houses may be up for sale with two or three agent (and most of those are not seriously up for sale, the owners are just ‘testing the water’ or ‘waiting until prices bounce back’ etc) and similarly buyers (and I use the term loosely) may have registered with several estate agents AND FINALLY the number of estate agents may have fallen (so if the number of branches falls by 2% and the number of houses per branch goes up by 1%, that’s still an overall fall in number of houses for sale).

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  • mark wadsworth says:

    JackC: “I guess a decline might suit you but an acceptance will suit your Wife”

    It’s a difficult call, so in fairness I think we ought to give SBC’s toddler the casting vote.

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  • MW – that seems perfectly reasonable however the HSBC underwriter has the final vote.

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  • The number of houses for sale means relatively little (especially with the abolition of HIPs) – the supply is determined by those that are willing and able to sell at different prices (the only bit of it we can measure is the transaction volumes – at equilibrium with demand). The LR figures show volumes falling and prices falling (at a slower rate) over the last 12 months. That suggest there’s a bit of a sellers’ strike and a buyers’ strike going on, with the buyers marginally winning and less houses shifting, although the sellers’ strike might be more discretionary than a more forced contraction in demand. An increase in forced selling on such low volumes would send prices downwards quite sharpish – a change in sentiment would add fuel to the fire as well.

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  • mark wadsworth says:

    JackC, I’m not sure what the HSBC guy has to do with it, he’s not going to be living with them or making the mortgage repayments or anything.

    Plus, bribing SBC junior is much more fun. Mrs SBC can get the Tesco catalogue and show Junior all the lovely toys that will be able to fit in his/her new, big bedroom. Then Mr SBC can show Junior all the lovely toys that they won’t be able to afford if they have a mortgage and interest rates go up. Hours of fun.

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