Buyers Flood Back To The Property Market

oneeye1

inspector_monkfish wrote: »

Does this mean there were only 1,196 properties for sale in the entire UK in May ??

hope your job dont entail maths

Thrugelmir

StevieJ wrote: »

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

Thats a very optimistic view. The BOE are estimating that 7 -11 % of mortgage holders are already in negative equity alone. So factoring another % who have positive equity but have less than 25%. Fixed rates aren't available to a high percentage of mortgage holders.

In the last week fixed rates have been increased significantly across the board by all the major lenders.

inspector_monkfish

oneeye1 wrote: »

hope your job dont entail maths

i dont know what i'm doing!!??
don't really understand the whole paragraph to tell the truth....
its a bit of a jumble!!

4 househunters for every property on sale
299 registered househunters in may

4 x 299 = 1,196

Generali

inspector_monkfish wrote: »

i dont know what i'm doing!!??
don't really understand the whole paragraph to tell the truth....
its a bit of a jumble!!

4 househunters for every property on sale
299 registered househunters in may

4 x 299 = 1,196

I think it's each estate agent, not all estate agents.

What do you trade again? FX wasn't it?

inspector_monkfish

Generali wrote: »

I think it's each estate agent, not all estate agents.

What do you trade again? FX wasn't it?

no


well thats what i mean by the article being a bit of a jumble
thanks for the help;)

zappahey

inspector_monkfish wrote: »

i dont know what i'm doing!!??
don't really understand the whole paragraph to tell the truth....
its a bit of a jumble!!

4 househunters for every property on sale
299 registered househunters in may

4 x 299 = 1,196

No, 299/4 = approximately 75 houses per EA.

inspector_monkfish

zappahey wrote: »

No, 299/4 = approximately 75 houses per EA.

ahaa
that looks better thanks
and apparantly 10 of those 75 selling

GDB2222

zappahey wrote: »

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.

Of course it didn't correct for multiple registrations! It's a bit of spin, after all. Anyone showing any interest in property has their details snapped up by the agents and put on the database. So, anyone interested in buying will be on the books of lots of agents. OTOH, many houses for sale are on sole agency agreements, and even with multi-agency I'd be surprised if many houses are on with more than 2 or 3 agents.

As you say, it's just rubbish.

Yakubu22

"Buyers flood back to the property market"...YAWN

Next!

Max_Headroom_3

The National Association of Estate Agents (NAEA) says...

:rotfl: