Property sales showed signs of stabilising in April

ruggedtoast

http://www.independent.co.uk/news/uk/home-news/property-sales-showed-signs-of-stabilising-in-april-2288700.html

Property sales showed signs of stabilising during April but transactions remain well down on normal levels.
Estate agents sold an average of eight properties per branch during the month, unchanged from the number of sales agreed in both February and March, according to the National Association of Estate Agents (NAEA).
The group said its members reported a flurry of activity during the early part of the month in the run-up to Easter, with interest tailing off over the extended bank-holiday period.
Estate agents were also in a more bullish mood than during previous months, with many reporting a pick-up in the market and a good month for sales despite the disruption caused by the bank holidays.
But transaction volumes still remain well down on pre-credit crunch levels when they reached a peak of 14 per month in early 2007.

Graham_Devon

I blame the snow. No, the sunny weather.

Actually, come to think of it, the breeze picked up a little last month.

Orpheo

Estate agents sold an average of eight properties per branch during the month

That many? Wow. They really must be raking it in.

chucky

so no crash then?

i hope it hurries up because the usual suspects are running out of reasons for it to happen...

Blacklight

chucky wrote: »

so no crash then?

i hope it hurries up because the usual suspects are running out of reasons for it to happen...

I blame the snow. No, the sunny weather.

Actually, come to think of it, the breeze picked up a little last month.

ruggedtoast

chucky wrote: »

so no crash then?

i hope it hurries up because the usual suspects are running out of reasons for it to happen...

Prices seem to be holding up. I'm not really sure why or how, but they are.

We bought in April and so far its looking like we made the right decision. Our mortgage is a lot less than our rent would be anyway.

We got a decent price, not a crash price but a decent price. I have a lot of sympathy for anyone who is stuck renting and cant afford to buy.

angrypirate

Hmm, this survey is by the NAEA. So basically estate agents say house prices stabilising. Salesman says price of what he is selling is correctly priced.

Nothing to see here. Move along

nollag2006

ruggedtoast wrote: »

http://www.independent.co.uk/news/uk/home-news/property-sales-showed-signs-of-stabilising-in-april-2288700.html

Interesting article. Round my way stuff isn't staying on the EA's books for long.

Thrugelmir

Property sales showed signs of stabilising during April but transactions remain well down on normal levels.

Or maybe we are experiencing normal levels now. As moving house reduced from 7 to 4 years. Without rapid price increases there isn't the equity to fund the cost of moving, i.e. legal fees, estate agents fees and stamp duty.

Cleaver

Estate agents sold an average of eight properties per branch during the month

Orpheo wrote: »

That many? Wow. They really must be raking it in.

Doesn't sound many, but how many people work in an average estate agent branch? Maybe four or five?

Average house price is £165k or there abouts, so at 2% fees that's an income of £26,400. Doesn't seem all that bad really, considering your overheads only consists of a stupid mini, a cheap subscription to Rightmove, some hair gel and a dozen or so awful ties.

abaxas

Cleaver wrote: »

Doesn't sound many, but how many people work in an average estate agent branch? Maybe four or five?

Average house price is £165k or there abouts, so at 2% fees that's an income of £26,400. Doesn't seem all that bad really, considering your overheads only consists of a stupid mini, a cheap subscription to Rightmove, some hair gel and a dozen or so awful ties.

Obviously staff and premises come for free.