Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • Former MSE Helen
    • By Former MSE Helen 12th Jun 12, 8:55 AM
    • 2,324Posts
    • 971Thanks
    Former MSE Helen
    MSE News: House sales down 40% since boom
    • #1
    • 12th Jun 12, 8:55 AM
    MSE News: House sales down 40% since boom 12th Jun 12 at 8:55 AM
    "House sales have plummeted by almost 40% since the peak of the boom five years ago, says RICS ..."

    Read the full story:
    House sales down 40% since boom


Page 1
    • aldredd
    • By aldredd 12th Jun 12, 10:14 AM
    • 918 Posts
    • 659 Thanks
    aldredd
    • #2
    • 12th Jun 12, 10:14 AM
    • #2
    • 12th Jun 12, 10:14 AM
    House sales have plummeted by almost 40% since the peak of the boom five years
    Just over 15 completed sales were made per surveyor in the three months to May, a 40% drop on around 25 sales made over the same period in 2007
    So is the 40% based purely on how many sales per surveyor?

    If so, surely the headline figure assumes the same number of surveyors as 5 years ago?

    If there are more surveyors now than then, then that figure could be grossly over-stated, equally, if there are less, then it would be understated, and could actually be worse than 40%

    In short, a meaningless headline - unless you're a Surveyor!

    Edit:
    Based on how it's being reported elsewhere, this does indeed seem to be purely 'how many houses did each surveyor sell' - so pretty meaningless to everyone else.

    Surveyors report big drop in home sales
    The number of house sales handled by the average surveyor each month has dropped about 40 per cent since 2007
    Last edited by aldredd; 12-06-2012 at 10:20 AM.
    • Rupert Bear
    • By Rupert Bear 12th Jun 12, 10:44 AM
    • 1,267 Posts
    • 630 Thanks
    Rupert Bear
    • #3
    • 12th Jun 12, 10:44 AM
    • #3
    • 12th Jun 12, 10:44 AM
    Gone are the days when someone gave up work and bought a house one week to sale the next. In the long term a house will always be a good investment.
    • zappahey
    • By zappahey 12th Jun 12, 11:45 AM
    • 2,203 Posts
    • 2,003 Thanks
    zappahey
    • #4
    • 12th Jun 12, 11:45 AM
    • #4
    • 12th Jun 12, 11:45 AM
    So is the 40% based purely on how many sales per surveyor?

    If so, surely the headline figure assumes the same number of surveyors as 5 years ago?

    If there are more surveyors now than then, then that figure could be grossly over-stated, equally, if there are less, then it would be understated, and could actually be worse than 40%

    In short, a meaningless headline - unless you're a Surveyor!
    Originally posted by aldredd
    IIRC, RICS surveys are based on a sample of surveyors. If that sample size is consistent then it's a reasonable indicator of market trends.

    I don't think RICS claims any more than that.
    What goes around - comes around
    • googler
    • By googler 12th Jun 12, 11:51 AM
    • 15,190 Posts
    • 9,987 Thanks
    googler
    • #5
    • 12th Jun 12, 11:51 AM
    • #5
    • 12th Jun 12, 11:51 AM
    Most of the surveyors round my way don't handle sales - just surveys.

    The analysis for Scotland is generally based on the contributions of 10 or so Surveyors, again, not all of whom do sales. This seems to me not to form a large enough sample size for the country as a whole.... suggesting the report may be less than accurate
    • aldredd
    • By aldredd 12th Jun 12, 11:56 AM
    • 918 Posts
    • 659 Thanks
    aldredd
    • #6
    • 12th Jun 12, 11:56 AM
    • #6
    • 12th Jun 12, 11:56 AM
    IIRC, RICS surveys are based on a sample of surveyors. If that sample size is consistent then it's a reasonable indicator of market trends.

    I don't think RICS claims any more than that.
    Originally posted by zappahey
    You're possibly right. Although, they do give the specific number of house sales (51,823) which would suggest they're looking at the complete picture.
    • danothy
    • By danothy 12th Jun 12, 5:47 PM
    • 2,056 Posts
    • 2,690 Thanks
    danothy
    • #7
    • 12th Jun 12, 5:47 PM
    • #7
    • 12th Jun 12, 5:47 PM
    IIRC, RICS surveys are based on a sample of surveyors. If that sample size is consistent then it's a reasonable indicator of market trends.

    I don't think RICS claims any more than that.
    Originally posted by zappahey
    Consistent sample size would only be valid if the market share of each surveyor was constant between surveys ... if the sample size was a constant proportion of every surveyor then it would be representative, otherwise a change in the number of surveyors overall may alter the market share of those surveyed and make the inferences about the level of work they are seeing not related to the amount of work in the market.
    If you think of it as 'us' verses 'them', then it's probably your side that are the villains.
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

95Posts Today

1,443Users online

Martin's Twitter