First time buyers regain footing on the property ladder - NAEA

IveSeenTheLight

http://firstrung.co.uk/articles.asp?pageid=NEWS&cat=66

Latest figures reported by members of the National Association of Estate Agents (NAEA) indicate that consumers continue to remain unsure of the market. However, there was reported stability in the number of viewings before a sale is secured, time between instruction and the number of agreed sales which have fallen through...
First time buyers regain footing on the property ladder

The year 2008 has so far been a difficult period of time for first time buyers, however it would seem from the figure reported by agents in June that this sector of the market is returning.
June reported an average of 11.8% of first time buyer sales, which is an increase from the month before which was 10.6% and indeed a massive growth from the same time a year ago which was 9.8%. The rise in sales shows that first time buyers have regained some confidence and have realised that they can use the current market to their own advantage, providing they have the correct finances available.

House hunters lose confidence
The number of house buyers on agents books is lower this month with members reporting an average of 226 house buyers in June compared to 247 in May. This is the lowest figure reported by agents in the last year. Last June the figure stood at 322, which comes as a stark contrast.
This drop in figure suggests that consumers are anxious about the current market and are readily feeling the impact of the credit crunch. Many consumers have adopted a 'wait and see' attitude which has been prompted by fear, inflationary pressures and the credit crunch.
Stock levels decrease

No time yet to look into the NAEA figures. They may be similar to ARLA which was a small percentage and heavily related to certain area's

Banderman

Estate agents are lying, slimy toads. So their biased utterances on the housing market have no worth whatsoever.

thegibdog

IveSeenTheLight wrote: »

June reported an average of 11.8% of first time buyer sales, which is an increase from the month before which was 10.6% and indeed a massive growth from the same time a year ago which was 9.8%. The rise in sales shows that first time buyers have regained some confidence and have realised that they can use the current market to their own advantage, providing they have the correct finances available

Would be interesting to see the actual figures behind these percentages. Calling this a "rise in sales" shows either a basic lack of understanding or is just a lie. Surely they meant to say "the rise in percentage shows that first time buyers now make up a larger proportion of the smaller number of people actually still buying houses".

lynzpower

not exactly the most reliable of sources https://www.firstrung.co.uk

firstrung specialise in the provision of first time buyer mortgage solutions. High street lenders and conventional mortgage brokers cannot offer such a comprehensive range of solutions. We introduce first time buyers to a hand picked team of mortgage brokers who specialise in first time buyer mortgage solutions only. These brokers will instantly search a live database, updated with a complete listing of the latest first time buyer mortgage offers, in order to provide first time buyers with the latest and best advice, matched with our commitment of five star service.

hmmmmm

Paul_N_4

lynzpower wrote: »

not exactly the most reliable of sources www.firstrung.co.uk


hmmmmm

Come on, he spent most the day looking for a couple of bits of good news on the housing market. Don't spoil it for him.

mewbie_2

IveSeenTheLight wrote: »

No time yet to look into the NAEA figures. They may be similar to ARLA which was a small percentage and heavily related to certain area's

They will never admit what is happening, but they don't need to. As long as they can still persuade some gullible fools (and there seems to be an adequate supply) to enter the market they may be able to ride out the storm.

They should be prosecuted for misleading information.

brit1234

The truth is that it isn't case of more first time buyers coming into the market, anyone who says it is distorting the truth. The fact is that the number of buyers in all sectors is falling it is just that the number of first time buyers is falling less. This is most likely due to the others are trapped in chains and the harsher conditions on the buy to let sector.

It isn't rocket science.:D

Prices are falling fast, so are buyers and lending is getting tighter.

IveSeenTheLight

Paul_N wrote: »

Come on, he spent most the day looking for a couple of bits of good news on the housing market. Don't spoil it for him.

No, just trying to balance the see saw of good and bad news. There is so much bad news at the moment, it's important to balance the debate. You will also see me posting bad news I think is interesting

I spent no time surfing for good news.
I look at http://news.bbc.co.uk/ daily and they were both in that days topics.

I did also say the following which may proove to discount the figures

Originally Posted by IveSeenTheLight
No time yet to look into the NAEA figures. They may be similar to ARLA which was a small percentage and heavily related to certain area's

There is actually quite a bit of good news out there
Oil price lowering
Swap rates lowering
Mortgage Interest Rates lowering
Banks shares increasing
etc

Of course there are still bad news as well
Retail Sales down
Fuel price rise
Food price rise
Credit Crunch
etc



, but it may start to be a little more balanced

Snooze

IveSeenTheLight wrote: »

No, just trying to balance the see saw of good and bad news. There is so much bad news at the moment, it's important to balance the debate. You will also see me posting bad news I think is interesting

Who are you trying to kid? :rolleyes: You are a bull through and through and I've pulled you up about this before but you spat your dummy out and denied all knowledge. You never post any "bad news" so please give up with this "I have to balance the debate" dross as it's getting incredibly boring. :rolleyes:

You are in bed with Mr. Green Shoots and Mr. B, just admit it. :rolleyes:

Rob

IveSeenTheLight

Snooze wrote: »

Who are you trying to kid? :rolleyes: You are a bull through and through and I've pulled you up about this before but you spat your dummy out and denied all knowledge. You never post any "bad news" so please give up with this "I have to balance the debate" dross as it's getting incredibly boring. :rolleyes:

You are in bed with Mr. Green Shoots and Mr. B, just admit it. :rolleyes:

Rob

Mr Snooze (Rob)
Please feel free to ignore me if you do not put across points of interest and balance

I have posted negative posts previously where I thought it would be of interest and been thanked by so called "bears" for doing so.

In a see-saw analogy, where do you think the see-saw is sitting when the sides of the pivotal point being good news and bad news when posting threads on here. We are swamped with bad news which is always good to discuss and debate as well as good news posts

Yourself and Mr Payday have chosen in this thread to attack the OP rather than discuss the topic. In a debate, the only relevant thing is to debate the topic at hand, not which side the debator is on.

Please feel free to add any points you wish to make on the topic at hand

baby_boomer

The rise in FTB sales [from paltry 10.6% to a paltry 11.8% ] shows that first time buyers have regained some confidence and have realised that they can use the current market to their own advantage

What planet are these spin doctors on :rotfl: :eek: :rotfl: ?

It just means that house prices became more affordable for a tiny minority of those who want the security of owning their own home. It doesn't mean they're confident of not making a loss!

A legitimate alternative interpretation is that they are simply ignorant of the market .