Tuesday, August 14, 2012

“Activity contracts further”

UK Housing Market Survey July 2012

The July 2012 RICS UK Housing Market Survey highlights four main trends. Firstly, the headline price balance edged down to -24 in July.Secondly, activity levels dipped further, with transactions slipping for the fourth consecutive month. Thirdly, London remains the only region recording rising prices. Finally, respondents expect prices to fall further in the coming months, although sales expectations remain positive.

Posted by dill @ 11:13 AM (2457 views)
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12 thoughts on ““Activity contracts further”

  • Worth pointing out the following comment:

    Mark John Hunter MRICS, Grice and
    Hunter, Doncaster, South Yorkshire,
    01302 360141 – If we can set the price
    there are sales to be achieved (about 70%
    of what we sell is vacant). Even after 5
    years of recession the market remains
    over supplied with far too much property
    that is vastly over priced. No other
    business would continue to offer stock
    over this period of time that was failing to
    sell. This is a fundamental flaw in estate
    agency and it is therefore not surprising
    that many are suffering ongoing financial
    difficulties.

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  • mark wadsworth says:

    Yeah! Bear snacks!

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  • Good to hear that 70% vacant stat, I’ve said it on here a few times, that nearly all the stock round my way is “in need of modernisation” which is estate agent speak for “the old bird has popped her clogs and the greedy relatives will sit on it for 2 years till they get their pie in the sky valuation”!

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  • mark wadsworth says:

    I like this excuse, beats Jubilee, World Cup, Olympics, bad weather etc into a cocked hat:

    “Activity slowed further in July, with the weak picture exacerbated by the start of the school holidays.”

    Well, if and when we move home again (Her Indoors’ nesting instinct is coming to the fore, I can see this all slipping away from me) then the school holidays is absolutely the best time to move, that’s the least disruption on the kids then they can start the next school year/their new school with a clean slate etc.

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  • Good to hear that 70% vacant stat, I’ve said it on here a few times, that nearly all the stock round my way is “in need of modernisation” which is estate agent speak for “the old bird has popped her clogs and the greedy relatives will sit on it for 2 years till they get their pie in the sky valuation”!

    Reply
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  • Good to hear that 70% vacant stat, I’ve said it on here a few times, that nearly all the stock round my way is “in need of modernisation” which is estate agent speak for “the old bird has popped her clogs and the greedy relatives will sit on it for 2 years till they get their pie in the sky valuation”!

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  • “Ian Perry FRICS, Perry Bishop and
    Chambers, Cheltenham/ Cirencester/
    Tetbury/ Nailsworth/ Stroud,
    Gloucestershire, 01285 655355 – We have
    just had our best week of the year for
    sales agreed.”

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  • @7

    …but not yet sales completed! That’s the hard bit now.

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  • @ DW (Tuesday, August 14, 2012 01:39PM) to add to dill’s point are sellers finally agreeing to lower prices to get the stock to turn on the agents books?

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  • @8 & @9, no idea. Here in the “Greedy Cotswolds” sale prices tend to be firm, within 5% of asking. Place down the road from me went on market
    about a month ago & was sold within 2 days at full asking price :0

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  • What-Ho, Doomwatch.
    While sat in the central Cotswolds, and observing the local market, I can second your comments. Rural(ish) properties sell for mostly asking and even some suburbs of Cheltenham sell for silly money (perceived good schools is the usual reason).
    I truly despair. We’ve mostly resigned ourselves to rented accommodation for the foreseeable.

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  • It is amazing how low transactions have had to fall and for such a long time before estate agents realise its best to sell some houses at low prices than none at all.

    How long until it filters through to the majority of sellers though?

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