House prices set to fall back as sellers multiply

carolt

http://www.independent.co.uk/life-style/house-and-home/property/house-prices-set-to-fall-back-as-sellers-multiply-2000661.html

carolt

Note to Hamish, who seems particularly dim this morning:

"A fifth more surveyors reported rises in the number of new instructions, rather than falls, last month, up from 11 per cent in April. Three-quarters of surveyors said they expected to see a continued increase in supply, typically of around 15 per cent, thanks to the end of the Hips scheme.

With demand from buyers increasing more slowly,
however, that could lead to a downward pressure on prices, with several other housing analysts already warning that the market has begun to slip back. Halifax, Britain's biggest mortgage lender, said last week that house prices fell by 0.4 per cent during May, the second month running in which the market had declined."

RabbitMad

If sellers are mulitplying surely they will need to move "up" the ladder to a bigger house with more bedrooms?

Thermidor

More sellers mean more buyers. Can't believe that wasn't grasped.

Emy1501

Thermidor wrote: »

More sellers mean more buyers. Can't believe that wasn't grasped.

I know 5 people selling at the moment including me. 2 trading up 1 selling BTL property and 2 selling to move into rented. Not everyone sellign will be buying.

bear1969

dont think hamish goes out his front door there are houses round the aberdeen area that have been on the market for more than 12 months and more houses are coming up for sale everyday,See more for sale signs everytime i go out for a drive ,He really must get away from his computer and get out a bit more

carolt

Thermidor wrote: »

More sellers mean more buyers. Can't believe that wasn't grasped.

Can't believe you're incapable of clicking on a little link and reading it.

No it doesn't - the article not only state but precisely quantifies that the number of buyers is falling behind the number of new sellers.

Guess what happens when that happens?

Clue: house prices fall.

IveSeenTheLight

carolt wrote: »

Can't believe you're incapable of clicking on a little link and reading it.

No it doesn't - the article not only state but precisely quantifies that the number of buyers is falling behind the number of new sellers.

Guess what happens when that happens?

Clue: house prices fall.

I believe he means that for every seller, there must be a buyer
Quite simple really.

What you are saying is that there will be more choice for the potential buyers.

That does not directly mean that there will be house price falls, it could simply mean that as there is less competition, the rate of HPI is less.

The type of property coming to the market may also be suitable for the limited potential buyers.

There's still a lot of if's and buts associated and time will tell if this increase in potential sellers will be sufficient to drive a reduction in property prices.

twadge_face

More sellers = more choices for the buyer, innit? That is certainly good.

But as for the rest of this, in the rest of the press, it's funny, it's almost like: "don't mention the war!"

Or: "DON'T MENTION THAT PRICES MIGHT HAVE TO BE REDUCED!!"

Blacklight

Emy1501 wrote: »

I know 5 people selling at the moment including me. 2 trading up 1 selling BTL property and 2 selling to move into rented. Not everyone sellign will be buying.

Where your STR's going to live if all the BTL's are sold to FTB's?