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Hometrack: Supply falling off a cliff....
HAMISH_MCTAVISH
Posts: 28,592 Forumite
The number of properties put up for sale fell 5.4% in January, the largest monthly fall for four years, after sliding 1.5% in December.
Wow. Biggest drop in supply in 4 years.
A bigger drop in supply than happened in 2008/2009.
Still, never mind, nobody could have seen that coming, right? :rotfl:
“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
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Comments
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To look at the demand proxy as well as the supply proxy:
% change in new buyers registering with agents -9.5%
% change in volume of property listings -5.4%0 -
HAMISH_MCTAVISH wrote: »Wow. Biggest drop in supply in 4 years.
A bigger drop in supply than happened in 2008/2009.
Still, never mind, nobody could have seen that coming, right? :rotfl:
Nice work.
Supply dropped 5.4%.
Demand dropped 9.5%
Supply outweighs demand this month.
Prices dropped too.
Noticed your down to quoting one single sentence now
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HAMISH_MCTAVISH wrote: »Wow. Biggest drop in supply in 4 years.
A bigger drop in supply than happened in 2008/2009.
Still, never mind, nobody could have seen that coming, right? :rotfl:
Crikey.
[sorry forum made me expand my post to 1 characters, i had nothing more to add]FACT.0 -
HAMISH_MCTAVISH wrote: »Wow. Biggest drop in supply in 4 years.
A bigger drop in supply than happened in 2008/2009.
Still, never mind, nobody could have seen that coming, right? :rotfl:
Hi Hamish,
Is supply dropping because demand is disappearing? If not, what is the reason?
Thanks.0 -
5.4% of what and 9.5% of what?Graham_Devon wrote: »Nice work.
Supply dropped 5.4%.
Demand dropped 9.5%
Supply outweighs demand this month.0 -
Oh no a few over priced properties I would never consider buying have removed there listings!
Supply drops, prices increase slightly, a few sellers return, prices drop again, supply drops, prices increase slightly, a few sellers return, prices drop again, supply drops, prices increase slightly, a few sellers return, prices drop again.
It would seem we are getting closer to a stable price. Yes there may not be enough force to keep pushing prices down, but there isn't enough force to push prices up either.Have my first business premises (+4th business) 01/11/2017
Quit day job to run 3 businesses 08/02/2017
Started third business 25/06/2016
Son born 13/09/2015
Started a second business 03/08/2013
Officially the owner of my own business since 13/01/20120 -
Seasonally adjusted?
Locally there have been a lot of properties come on of late - I assume to get in ahead of the Spring rush? - I am following keenly to see if any shift.I think....0 -
To look at the demand proxy as well as the supply proxy:
% change in new buyers registering with agents -9.5%
% change in volume of property listings -5.4%
Percentages of what value?
Percentages mean nothing if you don;t know what it's a percentage of.
e.g. Property supply could have dropped 5.4% out of 200,000, meaning 10,800 fewer properties.
Demand could have fallen 9.5% of 100,000, meaning that there are 9,500 fewer potential buyers.
**NOTE** figures used above are simply used as an example and not of exact data:wall:
What we've got here is....... failure to communicate.
Some men you just can't reach.
:wall:0 -
5.4% of what and 9.5% of what?
Took 7 posts for someone to ask the important question.This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com0 -
Took 7 posts for someone to ask the important question.
Problem is, the figure seems unnavailable
http://www.hometrack.co.uk/commentary-and-analysis/house-price-survey/20110127.cfm
It's a survey of over 5,000 EA's
It's also worth considering the dataset question being asked
Demand - "% change in new buyers registering with agents", does not tell you how much demand there is, just that there are fewer "new buyers" registereing, nothing about the level of demand.
Supply - "% change in volume of property listings", is actually the number of properties listed.
You can;t really compare the two:wall:
What we've got here is....... failure to communicate.
Some men you just can't reach.
:wall:0
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