Debate House Prices


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Sellers outnumber buyers 15:1

Ha! I beat !!!!!! to it.

http://www.ft.com/cms/s/0/09f7b466-40a1-11dd-bd48-0000779fd2ac.html

There are 15 times more homes for sale than people to buy them – a worrying signal of the imbalance between supply and demand in the housing market.

Many buyers have found it increasingly hard to source mortgages as banks restrict lending, while prices are deterring many from investing given widespread predictions of price falls during the next year.

A million properties are sitting unsold on estate agents’ books as the housing slowdown deepens, online homes sales portal Rightmove reports on Monday. It says sellers will have to cut asking prices to attract buyers.

Rightmove says its sales data suggests there are 25 per cent more properties on the market compared with six months ago.
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Comments

  • WTF?_2
    WTF?_2 Posts: 4,592 Forumite
    Generali wrote: »
    Ha! I beat !!!!!! to it.

    http://www.ft.com/cms/s/0/09f7b466-40a1-11dd-bd48-0000779fd2ac.html

    There are 15 times more homes for sale than people to buy them – a worrying signal of the imbalance between supply and demand in the housing market.

    Many buyers have found it increasingly hard to source mortgages as banks restrict lending, while prices are deterring many from investing given widespread predictions of price falls during the next year.

    A million properties are sitting unsold on estate agents’ books as the housing slowdown deepens, online homes sales portal Rightmove reports on Monday. It says sellers will have to cut asking prices to attract buyers.

    Rightmove says its sales data suggests there are 25 per cent more properties on the market compared with six months ago.

    Sorry Generalissimo, but this is clearly deluded. Don't you know that there is a housing shortage? (We live on an Island and they're not building any more land etc. etc.) :D
    --
    Every pound less borrowed (to buy a house) is more than two pounds less to repay and more than three pounds less to earn, over the course of a typical mortgage.
  • I'm surprised it's as little as 15:1, to be honest. I'd have guessed a lot higher. Depends whether they mean 'people looking to buy' or 'people able to buy'.

    I'd bet there are a lot more than 15 sellers for every person willing and able to proceed with a purchase.
  • brit1234
    brit1234 Posts: 5,385 Forumite
    Maybe if everyone says "there's a housing shortage" and "increased" immigration" together 10,000 times together we can start the housing bubble again and save those poor estate agents jobs.

    If there is really only 1:15 ratio then prices are going to fall far quicker than 2.5% pre month. 3% fall next month maybe a little conservative now.

    :rotfl:
    :exclamatiScams - Shared Equity, Shared Ownership, Newbuy, Firstbuy and Help to Buy.

    Save our Savers
  • jamescredmond
    jamescredmond Posts: 1,061 Forumite
    I keep thinking 'william g stewart'.
    miladdo
  • carolt
    carolt Posts: 8,531 Forumite
    Damn, beat me to it too.... :D

    So housing bulls - how does your 'strong demand and shortage of supply will ensure prices never fall far' argument look now? Or are there some about to argue that 15 sellers to every buyer is a great ratio for sellers?

    I think we can safely say 'it's a buyers' market' now......

    About time, too. :rolleyes:
  • There are many more sellers at the moment. This does not mean there isnt a severe housing shortage.
    http://www.cabinetoffice.gov.uk/~/media/assets/www.cabinetoffice.gov.uk/strategy/seminars/market_housing/market_housing_stephen_nickell%20pdf.ashx
  • ultra10
    ultra10 Posts: 379 Forumite
    yep.. some of thoes "Green Shoots" for ya !!! :rotfl:
  • There are many more sellers at the moment. This does not mean there isnt a severe housing shortage.
    http://www.cabinetoffice.gov.uk/~/media/assets/www.cabinetoffice.gov.uk/strategy/seminars/market_housing/market_housing_stephen_nickell%20pdf.ashx

    Interesting this supposed severe housing shortage, when the attached money week article reckons there are up to 840,000 empty homes in the UK.

    http://www.moneyweek.com/file/39435/think-twice-before-tackling-a-derelict-property.html

    Add to that all the Poles heading home for a better life and I think this housing shortage might be a tad overstated
  • moanymoany
    moanymoany Posts: 2,877 Forumite
    I had cause to go into a local solicitors who also has an estate agency. I asked the receptionist how business was with the estate agency. Giving me a lovely smile she said 'Oh, we have lots of houses to sell', smile fell a little 'but there don't seem to be any buyers'.

    I then told her the story of my successful sale in April/May. Her eyes did glaze over a little bit, but she was far too polite to yawn.;)
  • Interesting this supposed severe housing shortage, when the attached money week article reckons there are up to 840,000 empty homes in the UK.

    http://www.moneyweek.com/file/39435/think-twice-before-tackling-a-derelict-property.html

    Add to that all the Poles heading home for a better life and I think this housing shortage might be a tad overstated


    There are houses sitting empty but there is still a severe housing shortage.

    There are 55000 new households being created every year more than the number of houses being built.

    Not saying that everything is rosey - just trying to remain objective.
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