Some top-line figures include theoretical property sales that – given the turbulence ahead – may never actually happen.
But those top-line numbers don’t tell the whole story. In fact, given the market is forecast to fall off a cliff in the not-too-distant future, they are quite misleading.
The frustrating thing for property market watchers is that all these figures tell us what happened a few weeks or even months ago, because of the slow nature of buying a property and the way that data is reported on a lag. Official house price data is always released on a delay, so the “latest” numbers reflect what happened in August.
To understand what is happening right now, it’s important to look for the signal through the noise.
We must pick up on anecdotal evidence, think laterally and rely on more subtle indicators. At the moment these are far more important – and suggest that the market that defied experts’ expectations is already running out of steam. The early warning signs are now flashing red.
By Isabelle Fraser, pleaser read the full article on The Telegraph.