House Prices to recover more strongly than expected..

HAMISH_MCTAVISH

The number of homes for sale went up for the first time in four months during August, raising hopes the sector can recover sooner and more strongly than expected.


The average estate agent had 64 properties on their books during the traditionally slow month, up from 59 in July and the first rise since April, said the National Association of Estate Agents. The group said the increase was due to previously registered buyers finding properties they were interested in and putting their own homes on the market.

The NAEA had previously warned that any recovery could be held back by a shortage of homes for sale. Some economists warned that the surge of homes onto the market could counteract recent price rises in the sector.

Data also showed that the number of house-hunters registering with estate agents in August dropped to 238, down from 292 in July.
There was also a dip in the average number of sales made per branch - an average of 7.6 in August, down from 8.6 in July.

The number of first-time buyers who were actively looking in the market also rose during August, with this group accounting for 36% of all agreed sales, up from 22% in July.

Gary Smith, president of the NAEA, said: "August always sees a dip in activity, regardless of the wider economic picture, and we believe that indications are that the UK housing market could emerge stronger and more quickly than previously considered possible."

http://uk.biz.yahoo.com/090903/140/iq5j0.html

Interesting, FTB sales now at 36% of the market.

Does anyone know what it was at peak?

shakerbaby

The number of homes going up for sale is a good thing. Maybe we'll get some valid stats on the real movement of the market.

bernard_shaw

Post headline = "House Prices to recover more strongly than expected"

Linked article includes phrases:
"the surge of homes onto the market could counteract recent price rises in the sector."
and
"Data also showed that the number of house-hunters registering with estate agents in August dropped"
and
"There was also a dip in the average number of sales made per branch - an average of 7.6 in August, down from 8.6 in July."

The headline is 180 degrees in conflict with the content of the article. I'm sure that's not what the OP intended....
:rotfl:
:rotfl:

mewbie_2

House Prices to recover more strongly than expected..
I doubt they are going to rise more strongly than you expect Hamish. Now they might rise more than I expect. I expect a 50% drop, so will be surprised by anything less than that.

maveli

Where is that poll on the OP ? I want to re-cast my vote based this post

Yakubu22

HAMISH_MCTAVISH wrote: »

http://uk.biz.yahoo.com/090903/140/iq5j0.html

Interesting, FTB sales now at 36% of the market.

Does anyone know what it was at peak?

Would you like some more straws to clutch? :rotfl:

michaels

100% correct - prices have been rising quickly due to constrained supply, rising prices have resulted in more houses for sale = increased supply. This has had the effect of starting to soften prices again (fewer registered buyers per property for sale)

A real VI headline ...and the above is what Hamish himself has been suggesting for the winter so I don't know why he decided to go with the headline he knew was wrong.

bernard_shaw wrote: »

Post headline = "House Prices to recover more strongly than expected"

Linked article includes phrases:
"the surge of homes onto the market could counteract recent price rises in the sector."
and
"Data also showed that the number of house-hunters registering with estate agents in August dropped"
and
"There was also a dip in the average number of sales made per branch - an average of 7.6 in August, down from 8.6 in July."

The headline is 180 degrees in conflict with the content of the article. I'm sure that's not what the OP intended....
:rotfl:
:rotfl:

HAMISH_MCTAVISH

michaels wrote: »

100% correct - prices have been rising quickly due to constrained supply, rising prices have resulted in more houses for sale = increased supply. This has had the effect of starting to soften prices again (fewer registered buyers per property for sale)

A real VI headline ...and the above is what Hamish himself has been suggesting for the winter so I don't know why he decided to go with the headline he knew was wrong.

Prices can still soften over winter, and the recovery be stronger than expected.

And the headline came from this...

Gary Smith, president of the NAEA, said: "August always sees a dip in activity, regardless of the wider economic picture, and we believe that indications are that the UK housing market could emerge stronger and more quickly than previously considered possible."

HAMISH_MCTAVISH

Yakubu22 wrote: »

Would you like some more straws to clutch? :rotfl:

So you do or dont know the percentage of FTB's at peak?

tomstickland

raising hopes

said the National Association of Estate Agents

Translated it means "a big vested interest hopes that things might be getting better".

Cannon_Fodder

A higher % of sales to FTBs is likely to be partly down to two years of saving deposits...and partly because the usual 2TB and 3TB properties have been staying in denial on price, and therefore not selling...

Once the summer bounce gets those owners to come to market thinking everything is hunky-dorey, only to experience the reality of fewer viewers and lower offers than they expected, that denial may well turn to Bargaining and Acceptance...