Number of home sales research showing HUGE falls in numbers.

phlash

I'm doing some research, and the leg work is better spread out. The information that I'm interested in is the number of home sales in your area.

How: Go to www.home.co.uk, do a search for your home town/city, an area that is big enough to make the numbers meaningful for the purpsoses of statistics.

Example: Nottingham, number of home sales each month inc flats etc.

June 2007 - 1042
July 2007 - 818
Aug 2007 - 945
Sep 2007 - 236

% monthly change = (236-945)/945 = -75%

236 is the lowest figure since the records began, the previous low was 450 home sales in a month. Making this significant, is it in your area? I'm intrigued. Please help me out, and post your results.

SquatNow

Sales volumes typically fall of a cliff just before prices do. People hold out determined that if they wait they will get the price they want.

Eventually something has to give. The longer the markets freezes for, the bigger the "first drop" will be. Even now, the only houses selling are the "bargains" being sold for 10-20% less than they were valued at 6 months ago.

barrymoney

I think it could be spurious. e.g. for many towns there is no data at all for october, which would suggest september data would still be incomplete? Unfortunately, it makes analysis tricky for recent months. July/Aug does show a year-on-year fall in sales for most places I searched, however.

Guy_Montag

If the data comes from the LR, then it takes three months to fully com through.

Nenen

Very interesting post Phlash... and I've also compared same months in 2006 just for luck!

Cambridge: number of home sales each month inc flats etc.

June 2007 - 266 June 2006 - 234
July 2007 - 168 July 2006 - 236
Aug 2007 - 195 August 2006 - 245
Sep 2007 - 42 Sept 2006 - 225


hmmm.. will be very interesting to see if these figures change as Land registry figures update!

epz_2

dont most house sales happen in the spring and summer anyway?

Nenen

epz wrote: »

dont most house sales happen in the spring and summer anyway?

I would think so... which is why I compared how many sales in the same months last year.

CYBERCIDERSAVER

epz wrote: »

dont most house sales happen in the spring and summer anyway?

I'm not sure but I had an interesting chat with a friend.

Derspite the regular reports about the robustness of local house prices (usually in the free paper owned by the local estate agents) my friend said his mum was made redundant in june/july from a local estate agents (she was conducting weekend viewings)

Looks like house prices in our area are gonna stuggle. And perfect timing too. Numerous builders have started a major building programme on the outskirts of town - 1000+ homes going up over the next 4 years. First showhomes have been completed and the asking prices are HILARIOUSLY optimistic!!:rotfl::rotfl::rotfl::rotfl:

jonewer

I have seen home.co.uk sales volumes appear to have fallen off the edge before. I got quite excited but it turned out to be a glitch in the data.

nobblyned

Saw this same thing commented on last year, it was just the delay in LR data coming through.

Trouble is you can't assess it until more than 3 months have passed, and who's interested in 3 month old data?

digiman97

I spoke to ny neighbour today who had his home valued a few weeks ago @£148k,now the EA's are saying he will be lucky to get £130k for it.
who things change so quickly in just a few weeks

CYBERCIDERSAVER wrote: »

I'm not sure but I had an interesting chat

with a friend.

Derspite the regular reports about the robustness of local house prices (usually in the free paper owned by the local estate agents) my friend said his mum was made redundant in june/july from a local estate agents (she was conducting weekend viewings)

Looks like house prices in our area are gonna stuggle. And perfect timing too. Numerous builders have started a major building programme on the outskirts of town - 1000+ homes going up over the next 4 years. First showhomes have been completed and the asking prices are HILARIOUSLY optimistic!!:rotfl::rotfl::rotfl::rotfl: