Saturday, May 06, 2006
Halifax Tries to Boost the Market – Is it a sign of a recovering market or a desperate gamble to revive the market?
Daily Mail: This Is Money:Spring house prices up £4,000
On the basis of HALIFIX figures, "experts" and Estate Agents are claiming shortages of homes for sale and increased buyer interest. Some lip-service to a balanced report is included. Remember to check out the comments.
Posted by Talking_Rot @ 08:56 PM (277 views) Add Comment
3 Comments
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1. Denzil said...
I really like this bit:
"Experts say rapidly rising property values have also brought first-time buyers back to the market, fearing that if they don't act now another boom will put homes beyond their reach."
So all of a sudden the FTB has found money that she didn't have 6,12,18 months ago or has she mortgaged herself
to oblivion?
Regarding paranoia, this really is the late eighties all over again.
Another point of Interest is that most of the high gains were in Scotland, which explains why Nationwide see 0.1 and Halifax see 2.0%. I think the time is nigh for a sensible measure of house prices nationwide. I don't completely dispute either Nationwide or Halifax but taking on face value reports from a mortgage lenders is hardly balanced and independent.
2. Hook Line And Sinker said...
Totally agree
It's hard to believe any valuation index at present due to local discrepancies.
I think the overall picture is that to move up the ladder now will cost you a barrow load of extra debt that most people are unable to finance.
Having been out of the property market myself after selling up 18 months ago, it's hard to find a reason to get back in now - with a high risk of economic problems and a possible housing crash that will follow.
There are much better and less risky investments than property around.
The stock market is booming. Commodities have performed well and after producing stellar returns over the last twelve months are still particularly interesting.
Why hang around trying to make 5% a year on property when you can be making far better returns with oil and gas, gold etc?
3. Btloptingout said...
but taking on face value reports from a mortgage lenders is hardly balanced and independent.
But we have the ODPM figures........then again you might be right about the independence and balance......