Tuesday, Jan 16, 2007
Is 2007 the year in which house prices will finally crash?
The Independant: Is 2007 the year in which house prices will finally crash?
Nobody wants to be the bearer of bad news. That may be why it is almost impossible to find a housing market expert who predicts a crash - or even a slowdown - this year.
Posted by rich benton @ 12:34 PM (200 views) Add Comment
3 Comments
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1. Davros said...
Shock news... independent analysts think falls or negligable gains. Mortgage companies and estate agents think rises.
Considering their business relies on convincing people that there has never been a better time to buy a house, I think we can discount the latter.
2. The Capitalist said...
Quite simple really:
VIs say UP
Everyone Else says DOWN Sentiment is what matters here - Joe Public is living hand to mouth - inflation is 10% in reality - they need HPI to feel rich - but FTBs are extinct, and BTLs are about to head for the EXIT...see this anecdote below...so prices will fall. Who knows when -who cares? It's going to happen.
I'm doing some work for a residential property co - they manage 80 sites across southern UK (all new build flats). Guess what? They're getting lots of calls from virgin BTLs about service charges - could these be squeezing their paper-thin margins I wonder?
3. Nohpc said...
2 things
1) Inflation is not 10% in reality - that is a complete nonsense comment. Please think before you type
2)BTLs are not about to head for the exit. However, new BTLs I believe will be few and far between for the next few months till the dust settles. However I think the property market will hang on as it did when rates were raised to 4.75% and sales dropped but prices didn't.