Can we believe the figures coming from the estate agent market?
Despite the fact that mortgage liquidity in the UK is still at near record lows the National Association of Estate Agents has released information this week suggesting that each property for sale is attracting four buyers. Many people are sceptical of such upbeat figures although they are based upon buyers registering their interest with local estate agents. So what do these figures tell us?
Is debatable as to whether every one of these potential buyers is a serious buyer or whether we are still seeing investors "bottom fishing" before the expected rise in property prices. It would be foolish to suggest that the UK property market has not improved even a little over the last few weeks but we have yet to see any real follow-through with regards to property prices. Showing interest in a property and actually bidding for a property are two very different situations and in many ways should be kept separate.
The main figures we are looking for in the UK property market are property prices and transaction numbers which will eventually lead to an upturn. So far we have yet to see any significant increase in prices or any significant increase in actual transaction numbers which pours scorn on some of the more upbeat forecasts for the sector in the short term.
Share this..
Related stories
Mergers and acquisitions expected in the UK insurance sector
Over the last few days the ongoing dispute between Aviva and the RSA has dominated the headlines and many people believe that the insurance industry is very much primed for a number of mergers and acquisitions in the short to medium term. Royal Bank of Scotland is already under pressure from the European Union to dispose of its Direct Line and Churchill insurance operations in the short to medium...
Read MoreWill the UK financial sector ever be the same again?
Despite the fact that the UK government has injected billions upon billions of pounds of taxpayer's money into the UK financial sector, and money markets in particular, there is concern that the UK financial sector is about to change forever. One of the major concerns is the fact that the European Union has become more involved over the last few months and has ultimately been looking to reduce the...
Read MoreThe legacy of George Bush
As George Bush enters his final week in the White House many experts and observers are looking back on his time in office and what, if any legacy, he will leave behind. Unfortunately for President Bush the credit crunch will take centre stage on his future CV due to the very fact it has happened on his watch and at the very end of his term in office. However, aside from the credit crunch and econo...
Read MoreUS authorities investing in economy
The Federal Reserve has today confirmed that more funding will be made available to try and improve the prospects for the US economy in the short to medium term. This comes at a time and many people had hoped that both the US and worldwide economies would have been in a position of stability and confidence would begin to grow amongst consumers and businesses. However, the very opposite would appea...
Read MoreNeglecting Rural Businesses May Have Cost UK £347 Billion
In a hard hitting report which today landed on the desk of Gordon Brown, he has been accused of neglecting the growing band of rural entrepreneurs and continuing the age old bias towards the urban population. A highly critical report penned by Stuart Burgess, the government’s Rural Advocate and chairman of the Commission for Rural Communities, has called for an end to the urban bias and a s...
Read More