Brickonomics

The latest survey of the housing market by the surveyors’ body RICS has provided yet more evidence that the rate of decay in the housing market may be easing, with the average surveyor busier than at time since last November. The uplift in buyer inquiries seems to be driving the strengthening pulse of the market. The number of inquiries has perked up for six consecutive months and the rate of increase is at its fastest for almost 10 years. These…

Read More Read More

There are few things more odious than selling false hope to desperate folk. But I am seeing ever more evidence of this sad occupation. I would have posted a blog on the latest new orders figures yesterday, but I was out of the office either in meetings, on the train or socialising with other people who like to talk about statistics and data. But I am glad I didn’t post a bland piece on what amounts to not that much….

Read More Read More

The latest state of construction trade survey figures compiled and analysed by the Construction Products Association is interesting as it provides a clear picture of an industry drifting deeper into recession. We seem to be, just from a cursory look at the graphs, very much at the beginning. And the pain, the survey commentary says, is now being felt across all sectors of construction. In all honesty at this stage of the cycle the detail is almost irrelevant, though well…

Read More Read More

The latest indicator of construction activity from the buyers’ body CIPS suggests that the pace of decline in construction may have eased a bit in April. The key Purchasing Managers Index for construction rose in the month from 30.9 in March to 38.1. This still means things are getting worse fast, but not as fast as before. The finer analysis suggests that the easing was down mainly to the civils sector, with a contibution from an easing in the decline…

Read More Read More

There is a growing chorus of voices saying that the worst is over in the housing market and that the upturn is not that far away. And to add a bit more volume to the choir is the latest Consumer and Housing prospects report from the business and economic consultancy CEBR, which sees house price growth returning early next year.

If Pestilence is the diseased financial system War is contractual and trade disputes Famine is the lack of orders Then Death must be measured by the insolvency figures.

The latest Land Registry figures for house prices show a further fall in March of 0.4%. These figures appear consistent with the general picture emerging from the various surveys of falling prices, but an easing in the rate of decline.

The latest Nationwide data on house prices is yet another pointer to suggst the slide in house prices is far from over. The April figure saw the average price fall by 0.4% in April after the upward blip of 0.9% a month earlier. The optimists may suggest this is a bottoming out in the market. There is always a possibility that they may be proved right, but the balance of probability has to be on a continued slip in prices.