House sales jump 40% in March

telfordwhite wrote: »

Without getting the calculator out I would suggest Februaries drop was probably above the average monthly drop for the year, not as you suggest "relatively small"

There have also been other monthly increases over the year in an overall decline. They could have made similar optimistic headlines in July and October even though the figures have plummeted since both of those months.

perhaps the seasonal adjustments last year made them a decline.

telfordwhite wrote: »

I don't have an agenda but can read. You seem to be getting hot under the collar because someone questions a spurious claim.

The headline posted (from the OP) claims this:

"The figures suggest that the slump in home sales seen in the past 18 months may be coming to an end."

when in fact trhis would appear optimistic.

It wasnt a headline for starters.
Not really when he also highlights the line in the report

"The CML does not foresee a lasting, significant increase in lending volumes until funding conditions improve"

It is quite a balanced report really. Seems like they are trying to hedge their bets to me.
Reading between the lines you also seem to interpret "an end to the slump" as meaning the start of a recovery? Not necessarily so. It may just trot along the bottom at these levels for months to come?

As a FTB I would of course prefer prices to keep dropping, but in the local area where I've been looking the fact of the matter is that reductions have slowed, the houses I've been watching have SSTC, and I'm STILL frozen out of the market. I'm sitting on a deposit which would have been more than adequate not that long ago, and now I can't get a decent mortgage at all. I'm not willing to settle for some naff terrace or (worse) flat, I don't even particularly want a semi given past experiences, I want somewhere I will stay for a good while. I guess I'll just keep saving until lending is more favourable (whenever that might be)!

How many FTBs are still well and truly out of the running? Without FTBs, can things really improve that much?

I just hope we see more properties on the market too, it's gone stale of late!

I can't provide any current factual information on why this is not the end of the price drops, but I can suggest you go read the "What the media said last time" from the 1989/95 crash on the FAQ's from www.housepricecrash.co.uk as this is a cyclical event, I'm sure historically it'll pan out along similar timelines. Sustainablility is the key, anyone who thinks the market has reached a point of where it can truly sustain itself now is absolutely kidding themselves.

You may find very similar stories to the link posted on the first page with the same old chestnut "it's over now" month after month, year after year, while prices just kept dropping.

Must remember to bump this thread in a year, only then will we know whether I'm talking total rubbish

Just noticed, no need to bump, it's sticky yay!