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Catflap

Norfolk - Edp Property Supplement Now 104 Pages!

3 posts in this topic

Rewind to 3 weeks ago....

[quote name='CATFLAP' post='363900' date='Apr 30 2006, 10:54 PM']
It's been hovering between 88 and 92 pages the last few months but hit an all time high of 96 pages on Friday. I can remember a few years ago when the property supplement was maybe 1/4 of the size it is now and the jobs supplement was much thicker too - all that has now changed.

The property party is well and truely over and what we've got is a glut of property for sale at unrealistic prices. So who want's to buy at these prices? - not many judging by the colossal numbers out there, many of which are chain-free as well.
[/quote]

Now 104 pages of rediciously overpriced houses - bigger is DEFINITELY better as far as Norfolk HPC'ers are concerned ;)

Remember - they won't let the market crash.... :rolleyes:

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[quote name='CATFLAP' post='387400' date='May 27 2006, 02:10 AM']
Rewind to 3 weeks ago....
Now 104 pages of rediciously overpriced houses - bigger is DEFINITELY better as far as Norfolk HPC'ers are concerned ;)

Remember - they won't let the market crash.... :rolleyes:
[/quote]

Good show. It's interesting here as the asking prices aren't giving yet.

I think I started noting theses upliment pages from one of your older posts CATFLAP so I'm not too sure of the years gone by but there is definitely an increase of supply. I remember the biggest ever suppliment headline at 84, 104 pages is more than I would've imagined.

CF - I'm calling 200 at the top - thought I'd sound like one of the trading threads. :lol:

How many pages can this go to? 'cos there seems to be a lot of building at the mo, and has been. Edited by music man

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Your right that asking prices are not giving yet although nethouseprices.com is telling a different story - they are dropping slightly in the absense of any interest rate hike. I know personally of a friend of mine who sold his house in the spring bounce for more than 2004 prices only to have it now fall through - seeing a lot of this, ie houses with 'SOLD' signs up for ages. It's now common knowledge that interest rate rises are on the way in late summer which is making people nervous plus the chains are hard to form with existing homeowners unable/unwilling to make the next jump up the ladder and FTB's very thin on the ground.

It's going to be a while before asking prices become realistic again - I see them holding up well into 2007 with the larger detatched and semi-detatched asking prices coming down first which may encourage those in flats and 2-bedroom terraces to trade up. This will cause more supply in the FTB end of the market which should eventually feed through to lower prices in the absense of competition from BTL due to tougher lending, low yields, more supply and higher interest rates. I think higher interest rates remain the psychological and financial trigger though that will really kick-start a housing crash - until that happens then it a frustrating but interesting time for us.

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