I have nothing new or exciting to say about the Tube Strike, so I will revisit my post of a year ago and do a compare and contrast to see what (if anything) has changed.
A year ago, the results for the postcode E11 were as follows:
A Properties sold in previous 12 months: 318
B Properties for sale (excl. Sold Subject To Contract): 236
C Properties for sale (incl. SSTC): 368
D Average time on market: 14 months (C divided by A x 12)
E Average time a property is advertised as SSTC: 5 months (C - B divided by A x 12)
F Average time between being first advertised and changed to SSTC: 9 months (D minus E)
Applying the same methodology as at today:
A Properties sold in previous 12 months: 462
B Properties for sale (excl. Sold Subject To Contract): 399
C Properties for sale (incl. SSTC): 575
D Average time on market: 15 months
E Average time a property is advertised as SSTC: 4.5 months.
Average time between being first advertised and changed to SSTC: 9.5 months
So it would appear that the buyer-seller stand off is worsening slightly, presumably because incumbents are paying much less to simply stay put than potential buyers would have to pay to buy the same house, i.e. the mortgage repayments that incumbents are currently paying (taking into account interest-only deals and low or negative equity) is a lot lower than the cash required by potential first time buyers (who have to scrape together a huge deposit and cannot obtain mortgages on the same easy terms, such as interest only, as those who bought more than a couple of years ago).
Tuesday, 7 September 2010
Fun with numbers (revisited)
My latest blogpost: Fun with numbers (revisited)Tweet this! Posted by Mark Wadsworth at 10:10
Subscribe to:
Post Comments (Atom)
0 comments:
Post a Comment