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The 3 Charts That No UK Property Fund Manager Wants You To See
07-14-2016, 01:33 PM,
#1
The 3 Charts That No UK Property Fund Manager Wants You To See
The 3 Charts That No UK Property Fund Manager Wants You To See

<p><strong>Things just went from worst to worst-er in Britain's property market.</strong> Having detailed the<a href="http://www.zerohedge.com/news/2016-07-06/dramatic-twist-uk-property-fund-cuts-value-its-assets-17"> numerous 'dominoes' that have begun to fall</a>, and most recently the<a href="http://www.zerohedge.com/news/2016-07-12/uk-fund-managers-start-dumping-properties-admit-real-estate-needed-re-pricing"> start of forced real asset liquidations</a>, the hard data from Britain's<a href="http://www.rics.org/Global/6._WEB_%20June_2016_RICS_UK_Residential_Market_Survey_ri.pdf"> Royal Institute of Chartered Surveyors</a> suggests Brexit just killed the British housing market.</p>
<p>Having previously shown the following chart as an example of the<strong> 'liquidity gap' between fund-level liquidations and the exuberant UK real estate market, things could get ugly very quickly</strong>...</p>
<p><a href="http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2016/07/11/20160712_UKProperty.jpg"><img src="http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2016/07/11/20160712_UKProperty_0.jpg" style="width: 600px; height: 315px;" /></a></p>
<p>&nbsp;</p>
<p>But things are about to get a lot worse... <strong><em>Here are three charts that no UK Property fund manager wants their investors to see...</em></strong></p>
<p><strong>New Vendor Instructions (roughly translated as pending home sales) has crashed by the most ever</strong>...</p>
<p><a href="http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2016/07/11/20160714_UK1.jpg"><img alt="" src="http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2016/07/11/20160714_UK1_0.jpg" style="width: 600px; height: 439px;" /></a></p>
<p><a href="http://www.rics.org/Global/6._WEB_%20June_2016_RICS_UK_Residential_Market_Survey_ri.pdf"><em>Source: RICS</em></a></p>
<p>&quot;Hope&quot; has collapsed with <strong>National Sales Expectations for the next 3- and 12-months are the worst on record</strong>...</p>
<p><a href="http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2016/07/11/20160714_UK2.jpg"><img alt="" src="http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2016/07/11/20160714_UK2_0.jpg" style="width: 600px; height: 439px;" /></a></p>
<p><a href="http://www.rics.org/Global/6._WEB_%20June_2016_RICS_UK_Residential_Market_Survey_ri.pdf"><em>Source: RICS</em></a></p>
<p>And Price expectations have plunged...</p>
<p><a href="http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2016/07/11/20160714_UK3.jpg"><img alt="" src="http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2016/07/11/20160714_UK3_0.jpg" style="width: 600px; height: 458px;" /></a></p>
<p><a href="http://www.rics.org/Global/6._WEB_%20June_2016_RICS_UK_Residential_Market_Survey_ri.pdf"><em>Source: RICS</em></a></p>
<p>Simply put, as RICS concludes, <em><u><strong>this is the &quot;most negative reading for near term expectations since 1998.&quot;</strong></u></em></p>


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The 3 Charts That No UK Property Fund Manager Wants You To See - by Zero Hedge - 07-14-2016, 01:33 PM

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