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Tag: Hometrack

Signs of recovery and the cost of missed opportunities in the housing market

Signs of recovery and the cost of missed opportunities in the housing market

The latest housing market data all point to a recovery. Mortgage approvals measured over three months are at a three-year high. Prices are rising. Sales are more buoyant. Starts appear to be on the way up. Indeed more positive wider economic news of late no doubt has helped underpin a sense of confidence, while the periodic scares from the Euro area seem to create less fear each time they come into focus and fade again. The improved housing statistics should…

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Beware estate agents selling optimism – the housing market remains in a worrisome state

Beware estate agents selling optimism – the housing market remains in a worrisome state

There was a very upbeat headline given by the RICS press office to the latest housing market survey released today by the surveyors’ body. Judging by various headlines from news outlets, including that on the BBC website, and various tweets I noticed on the subject, the message received by the casual observer appears to be “well that’s all good then”. I was bemused. I can see that less bad may be construed as good in a world of torture. But looking…

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The housing market is in a coma and the drugs don’t work – a bit more verve perhaps?

The housing market is in a coma and the drugs don’t work – a bit more verve perhaps?

The housing market remains in a weird state of suspended animation. There is the odd flinch or twitch to give commentators (myself included) something to remark on and the Daily Express something to splash on its front page. But in reality things have been flat for about two years. Naturally, with prices more or less flatlining, the reality is that houses in real terms are getting cheaper – that is to say the ones that are being sold are on…

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Average house prices may be stable, but the figures hide trouble

Average house prices may be stable, but the figures hide trouble

Much fuss is made over the monthly ups and downs of housing price indicators. But in reality those released recently suggest the average UK house price remains more or less locked at the steady altitude it has followed for more than a year. Taking a consensus from the plethora of available measures suggests an average home costs you today within 1% (probably 1% less) of what it would have cost a year ago and more or less the same as…

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Has the Office for Budget Responsibility misread the housing market?

Has the Office for Budget Responsibility misread the housing market?

There seems to be a fair chance the Office for Budget Responsibility’s view of the housing market may be badly awry. Why would that be that bad? 1. Because it potentially supports a complacent attitude among policy makers towards problems within the housing market. 2. Because it may well leave the Chancellor a few billion pounds light on stamp duty in a few years time. But before galumphing into why the OBR may be wrong it’s worth making a couple…

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Things may look slightly better in the housing market, but I wouldn’t get too excited

Things may look slightly better in the housing market, but I wouldn’t get too excited

The balance of the news over the past couple of weeks suggests things are getting better rather than worse. But what does it all say about the medium-term prospects of the housing market? To recap. Today Persimmon released a broadly positive interim management statement with the tasty nugget of a 35% increase in first-time buyer visitors over a year ago. Bovis also released its statement today which said private reservations in the 44 weeks to November 4 were up 22%…

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The dials are set for a long period of flatlining but high house prices that bodes ill for building

The dials are set for a long period of flatlining but high house prices that bodes ill for building

The latest batch of housing market indicators show no real sign that the UK market overall is either collapsing through concerns over the economy and jobs or rising on lack of supply. The pattern continues of house prices gently sliding nationally. But as the latest report released today by the surveyors’ body RICS shows London remains, in the eyes of estate agents at least, a completely different market to the rest of the UK. In London a positive balance of 25%…

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Little comfort for house sellers in latest market data and none for those wanting more homes built

Little comfort for house sellers in latest market data and none for those wanting more homes built

For those hypersensitive to twitches in the housing market the latest batch of data will not be comforting. Today we see the housing survey results for April from the surveyors’ body RICS, which its economists interpret as revealing a broad-based improvement, albeit within a market that remains fragile.

Housing market: more stable but still fragile

Housing market: more stable but still fragile

House prices are showing signs of greater stability after the falls in the second half of last year. Today Hometrack released figures showing prices in March were just 0.1% down while Nationwide released a figure of plus 0.5%. But the big question on everyone’s mind is where to from here for the market as homebuyers and sellers adjust to the squeeze within the economy. And among construction folk what does this all mean for house building.