Wednesday, October 7, 2009

September Viewing and Offer figures

Without wishing to sound negative... (note to self, be positive), September continued the downward slide for all in the Estate Agency business, when the figures are analysed.

House prices continue to fall. This has brought about a large number of enquiries from prospective purchasers, but they are slow to follow up on the enquiry with a viewing and consequently, an offer.

There are two reasons for this as I see it.

A lack of confidence is one.

A lack of available finance is the other.

As the banks wait, in zombie-mode, for the NAMA proposals to get past the Green party, no finance is being made available for house purchase.

Or any other purchase for that matter.

Why Lenihan and Cowen think that giving tax-payers money to the bozos that run the banks is beyond me.

Why they think that over-paying the banks for these toxic liabilities is a good idea is truly beyond belief.

Yet it seems that the fate of almost €60billion of our money hangs on a decision of a movement that does not really have a coherent policy on anything.

That said, if the Greens bring down this Government, I will give them my vote next time out...I may even consider joining the party if they can dethrone Cowen, Lenihan and Coughlan.

Protestations from the Govt. that “The pace of decline is slowing” (i.e. things are getting worse more slowly, but still getting worse) are meant to be good news!

Figures speak the truth and for our part, the figures this month show the continuing decline in activity in the market.

September 2008 Viewings 119 Offers 43

September 2009 Viewings 71 Offers 14

Remember September last year was a poor month anyway, as the economy had started to go into free-fall.

Even still viewings are down 40%.

Offers are down 68%.

Economists predict that levels of negative equity and inability to repay mortgages will increase over the near future, thus driving down the price of property further.

We need a new approach to our country’s regeneration. The current lot have shown no initiative or leadership.

In an effort to sound off on a positive note, they need to!

Anything else will be better.

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