House purchases rise in the UK

sky news story

How does this reconcile with the November RICS survey showing that the average number of EA sales has fallen to a 30 year low of 10.6

could that be the interest rate cuts taking effect?

And the transparency in the housing market there - prices have crashed - buyers can see and are confident enough to buy…

wait for the over the top bullish response from irish Ea’s
wont have any effect though , most people cant afford any more loans and wont get them ,
let the morkesh do its job

Yes they will ignore the fact that property prices crashed and focus only on “the market is coming back up” …

the mortgage drawdowns could be due to a few different things

  1. lots of refinance for lower rates
  2. knock down prices taking effect
  3. buying conditions where people want them?
  4. completions from 2006/7 closing off.

hard to say exactly what, the article isn’t heavy on info outside
of the actual mortgage figures

Talking about MoM rather than YoY. That’s the end of the beginning.

I think I know the answer to this, but are stats like that available here? (Number of mortgages drawn-down per month as an approximation of sales volumes?)


i find the figures it shows a bit puzzling. why have house prices in northern ireland fallen by twice as much as in the south in the past year (20pc against 10pc)? is there any ‘market’ explanation for this? do they have a huge supply of empties and large-scale emigration as well?

The speculative bubble in the north was very short (in time) as canny ran out of opportunities in the south and went north, there wasn’t enough time for people to fool themselves into believing “my home is worth x”, so there is a lot less stickyness on the way down. At least this is what I heard/believe.

An alternative might be that presbyterians are a harder bunch to shift from utility value, which also explains why Scotland (outside the major cities) goes a lot less mad than the rest of Britain when there is a boom. With a sane voice in the community, even if it is on the other side of the fence, the collective mania is harder to sustain. But this is idle speculation.