Housing Market "far stronger" than a year ago

HAMISH_MCTAVISH

The difference between the asking and selling prices for homes shrank to just 1.9 per cent last month, a report shows.

The figure was down from 6.3 per cent in May and sales also held up last month despite fewer properties coming on to the market, according to a survey for the National Association of Estate Agents.

The average estate agent sold ten homes in June for the third month in a row, up from six in December.


The housing market is 'far stronger' than a year ago.

The average asking price for a semi-detached home was £210,755 in June, but they typically sold for £11,869 less at £198,886.

Flats are faring much better, with the average asking price £144,048, compared to an average selling price of £143,049.

http://www.dailymail.co.uk/news/article-1199297/Housing-market-far-stronger-year-ago-according-estate-agent-president.html

Difference between asking and selling prices shrinks massively compared to May. I suppose we'll see form the next rightmove and haliwide figures if this is because of asking prices falling, or achieved prices rising, or most likely a bit of both.

Good to see sales volumes holding up in June as well though. Same volume for last 3 months now, all at a 60% increase over Decembers figures.

ad9898_3

according to a survey for the National Association of Estate Agents.

The above statement as deemed the article irrelevant.;)

HAMISH_MCTAVISH

ad9898 wrote: »

The above statement has deemed the article irrelevant.;)

Whilst you obviously dismiss the source as a VI (although almost all parties have a Vested Interest of some kind), in doing so you are also only getting half of the information you need for an informed decision.

You try to dismiss all opposing views with ad hominum attacks questioning sources and motivations.

You will therefore remain a victim of confirmation bias, and like all perma-bears, miss the bottom (when it does arrive) by a very long way indeed.

Carry on.:rotfl:

Graham_Devon

President of the NAEA says "The housing market is in a stronger position".

Don't think anyone would deny that, it couldn't really have got much worse could it? Sales volumes hit record lows. Mortgage offers down from 200,000+ to 20,000.

This is just spin. It's "good news" based on "well, its not as bad as it was".

That doesn't mean it's not bad, or still declining, it just means exactly that above, it's just not as bad....

ad9898_3

HAMISH_MCTAVISH wrote: »

Whilst you obviously dismiss the source as a VI (although almost all parties have a Vested Interest of some kind), in doing so you are also only getting half of the information you need for an informed decision.

You try to dismiss all opposing views with ad hominum attacks questioning sources and motivations.

You will therefore remain a victim of confirmation bias, and like all perma-bears, miss the bottom (when it does arrive) by a very long way indeed.

Carry on.:rotfl:

Not really, I'm happy to read bullish articles if the source has credibility, EA's have no credibility whatsoever and that's when things are booming, so when their backs are against the wall they are likely to sell their own children for the chance to spin crap through a media outlet.

Wookster

So says a report from a vested interest.

Take it with 10 big pinches of salt.

lostinrates

I think ''stronger'' in many ways is a very fair statement.

On the other hand so is weaker.

e.g. a house I encouraged Davesnave to look at (and considered myself) went for a good price (strong) for a repo with an AOC IMO, but a fair price for the area(neither particularly strong nor weak I suppose). A very much nicer property has come on at a 'stronger' price, but offers much, much more for the ''stronger'' price: so much so to be compariively ''weak'' and to make some of the local stickers on the market look extremely overpriced. (nearest comparable has less land, less accommodation and is more than twice the price)

skap7309

HAMISH_MCTAVISH wrote: »

Same volume for last 3 months now, all at a 60% increase over Decembers figures.

But still massively below what is needed for HPI. Percentages can be thrown around left, right and centre but both sides of the coin need to be studied.

skap7309

Graham_Devon wrote: »

This is just spin. It's "good news" based on "well, its not as bad as it was".

That doesn't mean it's not bad, or still declining, it just means exactly that above, it's just not as bad....

Amen to that.

JanCee

halight wrote: »

http://www.timesonline.co.uk/tol/money/property_and_mortgages/article6667235.ece

It is exactly the same source as this article which none of you deemed irrelevant at the time.

ad9898 wrote: »

The above statement as deemed the article irrelevant.;)


It maybe depressing, but I don't really see it as spin, it's the truth isn't it ? A spade is spade.

Wookster

lostinrates wrote: »

I think ''stronger'' in many ways is a very fair statement.

I think this is called begging the question: if I say Peter is fatter than Paul, it doesn't mean Peter is fat, just that he is fatter than Paul (who could be anorexic), or less thin.

Similarly, just because the market is now stronger than it was a year ago, doesn't mean that it is strong or healthy or nearing a return to normality. It could still be in intensive care, rather than on life support.