House sales up

[Campo Steve]

Sales of confirmed house sales rose 50% in Malaga in November.

http://tinyurl.com/72dsbv8
Is this a sign of things improving, a glitch or just a false dawn?

[Chunky Monky]

False dawn.

[Lavanda]

As the sterling/euro exchange rate is now 20% up on last year, AND it's possible to get a good price on a property, I think there WILL be a few more people buying into the sunshine dream ...

[ajtg1952]

I was speaking to a couple last week who have just sold one of their campo houses. They sold it within six weeks and got the price they were wanting. A Dutch couple bought it so it was not the strength of the pound that influenced it.

[BENIDORM]

From what some of my former business colleagues tell me, house sales have certainly improved, they tell me that they sold more property last year than they have moved over the last 4 years, but still nothing to shout about, but at least it is improving.
They also tell me that they have rented out a record number of houses, mainly to househunters testing if they really want to move and stay in Spain, so at least some more buyers in the pipeline....or maybe customers for removal firms to go back...

I survived the 'economic downturn' in Spain in the early '90's..it seemed to last about 4 years....so perhaps we are nearing the end of the miserable state of affairs suffered during the last few years ?

Here's hoping...!!!!

Regards,
Gordon

[El Cid]

As the sterling/euro exchange rate is now 20% up on last year

Really? That sounds rather optimistic.

It may be at 1.20 at the moment but the average exchange rate for last year was actually lower than the year before.

Last year was the average rate over the year 1.15 and the previous year was 1.16. The current rate is less than 5% higher and that's only over the last few weeks and it's just as likely to go down again.

Sid

[katy]

I am confused. House sales have been down for the last 8 months even on last years dismal figures. This was in Sur today....sales are down but not as down as they were, if you get my meaning.

http://www.diariosur.es/rc/20120110/eco ... 00930.html

[Campo Steve]

That certainly is confusing, Katy, as the link in the original post saying sales were UP in November was also from todays SUR.

[Julie]

There is a programme on tv tomorrow on TVE : how much is your house worth: maybe of interest to some, and also all over the spanish new today, its about the house prices falling in Spain !

[Lavanda]

Numbers are not my strong point but ...

[Chunky Monky]

Numbers are not my strong point but ...

Have you tried using a Spreadsheet?

[katy]

This is from Typically Spanish. seems that Sur doesn't know what it' left hand is doing.

House sales in Spain have now fallen for the ninth consecutive month, but moderated the annual fall to November at 14.4%. In the last six months less than 30,000 flats have been sold each month, half the normal number during the real estate boom. Data comes from the INE National Statistics Institute.

A study from the Association of Those Affected for Embargos and Auctions, AFES, has said that more than half a million people in Spain will lose their homes over the period 2008 to 2015. The bank will have to assume losses of 34 billion from individual mortgages. AFES says that the bank had executed house purchases for as little as 18,750 €, but in some cases the auctions are deserted.
The association says that the next few years will be worrying unless urgent measures are taken, but currently the postures of the banks and the citizens are ever more distantRead more: http://www.typicallyspanish.com/news/pu ... z1j6ELKusE

[Lavanda]

I did try using a spreadsheet once but got hopelessly confused the more I filled the little boxes. In the end I forgot what I wanted to work out but it looked very pretty. At school I failed Maths and when the Maths teacher suggested extra classes I explained that I wasn't going to be a bank manager (silly me - look at their bonuses). She said I would always need maths to do all sorts of things but I told her I would employ an accountant. Which is exactly what I did while I was working. Now, in my dotage, I might need to reassess this maths business once more ...

Katy! I'm shocked and surprised! Don't you know never to believe anything you read in the papers?

[BENIDORM]

Personally I have always distrusted property sale facts and figures published in newspapers, too many different facets to the actual real story.

I try to measure the facts from personal observations and information passed on from people actually working in the business...
It really does vary from area to area though, doesn't it ?

Regards,
Gordon..

[Campo Steve]

What confuses me is that the two conflicting articles in Sur are based on official figures, not just what estate agents are saying. I guess it is down to how the respective reporters interpret the figures.

[quebin]

Maybe those being purchased were being sold at realistic prices in todays marketplace.Some sellers still think they can sell at prices that were the norm at the high point of the housing boom.

[katy]

I wouldn't believe anyone working in the property business, they are the biggest bull shí;tters around Weren't they saying that the market had picked up about 2 years ago! They will be right one year I suppose!

I think you are correct Steve, you would think the Editor would notice 2 contradicting stories. Buried in those figures is that a large amount of transactions included aren't actually sales but inheritences, gifts and foreclosures.

Same as tourism, figures in Spain this week say that 2011 was up a few percent. Everyone I know says except from August there seems less people around. Also on the CDS more hotels have closed than ever before. It should improve this year as every few months there is another country added to the unsafe list, latest being Kenya. Read yesterday that Greece saw an increase in tourists. Who would decide to holiday there with all the strikes and riots, suppose the Islands are ok though.

[Footprint]

I wouldn't believe anyone working in the property business, they are the biggest bull shí;tters around Weren't they saying that the market had picked up about 2 years ago! They will be right one year I suppose!

How right you are! I've read lots of hype about how the market is on the up so buy now and don't lose out. Hmm.........methinks it is an artificial 'drumming up' of business. And as for their descriptions - they beggar belief! The 'tastefully and sympathetically renovated' property is often a dump that would only benefit from the swift use of a bulldozer! Strange how these agents think that Brits are prepared to live in a complete and very expensive 'sh*t-tip' and call it rustic!

[frank]

Strange how these agents think that Brits are prepared to live in a complete and very expensive 'sh*t-tip' and call it rustic!

But quite a few are, they're living the dream in the campo! And if they're happy, then why not? Wouldn't do for me (or you!) but it suits some.

[Martin Page]

Sales of confirmed house sales rose 50% in Malaga in November.

LIes , damn lies, and Statistics ...
50 % of nowt... is still nowt ! but it sounds good !