Buyers Flood Back To The Property Market

StevieJ

Thrugelmir wrote: »

More likely a lack of equity to achieve a good LTV than a wish to be exposed to market interest rates.

More likely they think they can time the market, i.e. move onto fixed rates when they look to be about to rise, this is just about now I think, or a combination of both

ad9898_3

Dan: wrote: »

The average time to sell a house right now is 10 weeks:

http://www.hometrack.co.uk/commentary-and-analysis/market-snapshot/time_to_sell.cfm

That's still a long time if each house that is for sale has 4 buyers, with mortgage approvals and a large deposit in their hand standing outside each house begging the seller to sell it to them, I just haven't seen it, yet this is what the NAEA want us to believe, it just sounds so ridiculous.

Generali

Dan: wrote: »

The average time to sell a house right now is 10 weeks:

http://www.hometrack.co.uk/commentary-and-analysis/market-snapshot/time_to_sell.cfm

A part of the increase in time taken to sell a house will be the impact of HIPs, part the fall in sales volumes.

1984ReturnsForReal_2

Four househunters chased every property for sale in the UK during May, new research shows.
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What a load of bollox.

Remind me never to read anything they write again.

luvpump

Of-course everyones circumstances are differant , but unless you feel you really have to, I think you would be Crackers to dive into property now, The recession may be over by Christmans time or early next year, but recovery will be very slow, & according to some unemployment is going to keep rising till at least the end of 2010 ...

http://www.guardian.co.uk/business/2009/may/10/unemployment-figures-to-peak-2012

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1984ReturnsForReal wrote: »

Four househunters chased every property for sale in the UK during May, new research shows.
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What a load of bollox.

Remind me never to read anything they write again.

It does smell a bit doesn't it ?, so according to the NAEA, 4 million buyers are in the market for the 1 million houses on Rightmove ?, like you say, utter bollox. If they had bent the truth less then they may have had some credibility, but this just shows that hey can't believed or trusted in any way.

zappahey

Surely, without any background on the calculation methodology, it's about as useful as a random number generator when you consider that most of the sellers of the average 69 sale houses will also have registered as househunters and that most buyers will have registered with more than one EA.

<dodgy arithmetic alert>

If I look at the small town that I left last summer, there were 5 estate agents and we had registered with them all when we were buying. So, if we assume that this area reflects the average and our registration pattern typical, there are potentially only 60 unique househunters in that area (299/5).

I did a bit of digging around for the source report but it doesn't appear to be on the NAEA website so I couldn't check to see if it corrected to take account of multiple registrations.

zappahey

Generali wrote: »

A part of the increase in time taken to sell a house will be the impact of HIPs, part the fall in sales volumes.

Not sure, I assume that this means 10 weeks on the market and, technically, a house can't go on the market without a HIP.

ruggedtoast

ad9898 wrote: »

That's still a long time if each house that is for sale has 4 buyers, with mortgage approvals and a large deposit in their hand standing outside each house begging the seller to sell it to them, I just haven't seen it, yet this is what the NAEA want us to believe, it just sounds so ridiculous.

I have some friends who are selling a reasonably desirable house in a good area right now. They have indeed had an awful lot of "buyers" viewing their house, no actual offers to buy it however. Its been on for about a year now - they did have one offer but the mortgage fell through.

Estate agents are trying to protect their jobs as well. No ones going to say - yes we've been flat out leading a parade of chancers through our clients houses for not much gain.

Graham_Devon

So "Buyers flood back to the property market" eh.

You mean househunters, as it mentions right through the rest of the article, calling these hunters "potential buyers".

Oh right, so not buyers at all, just people looking.

Good good.

Suppose buyers flood back is a better title than "househunters looking".

Jeez Stevie, you couldn't have picked a more desperate writeup!