House hunters out in force

Rinoa

http://www.introducertoday.co.uk/News/Story/?storyid=2684&type=news_features

Tuesday 16th March 2010

Britain's house hunters continued to brace the bad weather conditions in search of a new home in February, according to estate agents.

The National Association of Estate Agent's market report for February showed that the bad weather did little to curb the enthusiasm of eager house hunters looking for their dream home.

While the bad weather had an impact on the number of people registering with an agent this month, the number of houses sold increased from six (5.7) in January to seven (6.8) in February.
Only 258 house hunters registered with an agent compared to 291 in January, the lowest number recorded over the last 12-months.

The number of houses available for sale increased slightly from 55 per branch in January to 56 in February meaning there were still four house hunters for every property. The percentage of sales made to first time buyers increased in January from 23 per cent to 24 per cent this month.

The expected return to normality after the snow and stamp duty issues.

chucky

that's all very nice Rinoa but the supply of property has increased and prices have no choice but to drop :eek:

nembot

Well said Chucky, I knew you had it in you

:beer:

Rinoa

chucky wrote: »

that's all very nice Rinoa but the supply of property has increased and prices have no choice but to drop :eek:

That's right Chucky. With just 4 registered buyers chasing every property prices will surely plummet. :rotfl:

nembot

Place I rent is down 120k since peak (30% ish) been through 5 auctions in the last 13 months.

Still no sale, could we ask the excess buyers to head round my way?

Sure the landlord would appreciate it

robin_banks

Rinoa wrote: »

That's right Chucky. With just 4 registered buyers chasing every property prices will surely plummet. :rotfl:

But are there really 4 registered buyers chasing every property?.

Rinoa

nembot wrote: »

Place I rent is down 120k since peak (30% ish) been through 5 auctions in the last 13 months.

Still no sale, could we ask the excess buyers to head round my way?

Sure the landlord would appreciate it

If he wants to sell he should give you notice, spruce it up as necessary and put it on the market.

He can't be that smart if he thinks people will buy with a tenant in. Even if the buyer could give you notice, who would want to buy with a tenant in unless it's another landlord ~ and they aren't going to give market price are they.

abaxas

Rinoa wrote: »

That's right Chucky. With just 4 registered buyers chasing every property prices will surely plummet. :rotfl:

Last time we looked for a car we visited about 15 different garages.

chucky

abaxas wrote: »

Last time we looked for a car we visited about 15 different garages.

that's part of your issue - garages don't sell houses or advertise houses for sale

robin_banks wrote: »

But are there really 4 registered buyers chasing every property?.

registered buyers don't have any correlation to sales at all do they :doh:

Rinoa

robin_banks wrote: »

But are there really 4 registered buyers chasing every property?.

Yes. The RICs report also gave a similar ratio.

RICs also reported lower stock per agent than this time last year when prices started to rise. And this year mortgages are more available ~ and cheaper.

amcluesent

My neighbours place went sold STC last week after being on for about 6 weeks. With my luck, it'll have been bought by chavs and the wrecked cars and mattresses will be in the garden soon enough.