February House Sales Double

Pobby

From where I am sitting 2010 has got off to a very bad start. We have lost another 2 medium sized player in our industry, this follows on from the collapse of the largest chain of retailers last year. Talking to credit controllers things have taken a huge turn for the worse since the start of the new year. Even with my large customer base there is barely a living to be had so far in 2010. Granted the majority are independents but this is the first time in a decade where it seems cash flow is rapidly drying up.

I am hearing of retailers just throwing in the towel and begger the consequence. For many independents, 2010 is the year they need to see something turn around. Since 2007 things have taken a down turn. Many have hung on in there hoping for an improvement. Imho, any improvement will be a long time coming and very sadly too late for some.

twadge_face

An increase in the number of For Sale boards by 136.6% is excellent news as it means supply is up, while demand will stay low due to credit market conditions. Brilliant.

Stephen_Watson,_Managing_Director,_Agency_Express wrote:

After a pretty slow start to the year it appears that the British public is not prepared to sit around and wait any longer. It appears that the growing economic optimism has permeated the housing market and people are now making the decision to move.

That'll be the sellers coming back onto the market then. Good good.

Stephen_Watson,_Managing_Director,_Agency_Express wrote:

We are now seeing house sales nearly match those we last saw two years ago and the strength of activity bodes well for the coming months

Hmm. He's pretty careful with his language though, isn't he? Doesn't mention property price increases, instead it's all "market recovery" and "increased sales".

His company gets paid to put up signs. A recovery from his point of view is strictly volume of sales.

This all sounds rather like the "back to normal" phase in the famous bubble chart, at the end of a bull trap, especially the timing: almost at mid-2007 levels? Perfect.

This is indeed excellent news all round.



At this rate we could see consistent price drops for the next few quarters. Looking forward to it.

chucky

!!!!!!_face wrote: »

An increase in the number of For Sale boards by 136.6% is excellent news as it means supply is up, while demand will stay low due to credit market conditions. Brilliant. That'll be the sellers coming back onto the market then. Good good.

you may be right if these were forced sales or STR's but these people would be buying somewhere else by selling and then buying their new property.

is the increase in the number of For Sale boards due to forced sales?

HAMISH_MCTAVISH

!!!!!!_face wrote: »

An increase in the number of For Sale boards by 136.6% is excellent news as it means supply is up, while demand will stay low due to credit market conditions. Brilliant. That'll be the sellers coming back onto the market then. Good good.

You poor deluded person.

Actually reading the article is always a good way to avoid humiliation.....;)

The number of "Sold" signs is up by 136%...... The number of "For Sale" signs is only up by 90%.

Demand is rising faster than supply. Which invalidates the entire premise of your post.:rotfl:

Blacklight

That graph, amusing as it was, has seen better days. Our 'bull trap' is currently celebrating its anniversary and it looks every more ridiculous every time I see it.

twadge_face

HAMISH_MCTAVISH wrote: »

You poor deluded person.

Actually reading the article is always a good way to avoid humiliation.....;)

The number of "Sold" signs is up by 136%...... The number of "For Sale" signs is only up by 90%.

Demand is rising faster than supply. Which invalidates the entire premise of your post.

Oh yeah. Missed that. Life goes on.

twadge_face

Blacklight wrote: »

That graph, amusing as it was, has seen better days. Our 'bull trap' is currently celebrating its anniversary and it looks every more ridiculous every time I see it.

Er, I dunno. Only time will tell.

A lot of help has been chucked at the over-extended "homeowners" at the expense of taxpayers.

It's just led to a big bulltrap and, I suspect, a bigger correction... eventually.

Blacklight

!!!!!!_face wrote: »

It's just led to a big bulltrap and, I suspect, a bigger correction... eventually.

If there is any reduction at all you will see a massive demand from landlords and those who thought they'd missed the boat a year ago. Everything will be snapped up leading to even more rises.

twadge_face

Blacklight wrote: »

If there is any reduction at all you will see a massive demand from landlords and those who thought they'd missed the boat a year ago. Everything will be snapped up leading to even more rises.

OK, I take what you're saying. But what is it with the idea that there is a boat to be missed?

Serious question, btw. What serious economic commentator has said something along the lines of, "That's it, the cutoff point has been met, unless you're rich, e.g. have access to ancestral property equity. Sorry kids, you're priced-out forever now."

As I posted on another thread:

The_self-deprecatingly-named_!!!!!!_Face wrote:

"Missed the boat" is a term of cliched manipulative emotive twaddle.

Is the boat actually the Titanic, as has been suggested in the past?

Blacklight

I see your point. No. I merely meant that the opportunity to buy at a reduced cost had been missed this time around. Not 'that's it forever folks'.

Also, I don't understand that comments that people (first time buyers) have been priced out. Wages for people thinking about making a serious investment are quite adequate to buy a property if you want one.

Perhaps it's the Gen Y with their need to buy a 50" TV as their first TV set and who will settle for nothing less than the £250k three bed semi first home that's led to this thinking.