Friday, Mar 23, 2007
Hometrack see HPI falling to 4% by year end
Firstrung: House price rises affect first-time buyers - Hometrack
Higher house prices and rising interest rates means that more first-time buyers than ever are struggling to go-it-alone. Their dwindling numbers casts a shadow over the future of the property market and raises doubts over the sustainability of house price growth.
Posted by converted lurker @ 12:25 PM (162 views) Add Comment
5 Comments
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1. paul said...
Well, we could have seen this article in 2004 - it isn't really of much consequence.
2. Imhal said...
Ditto - same old stuff before the BoE/MPC meeting - 'HPI is slowing down so please don't increase interest rates' - not that the MPC need any encouragement to remain inactive - they have mastered the art of allowing real inflation to soar and simultaneously fiddling CPI to make it look like we have no inflation.
It all too predictable and now its getting boring - anyone would think that this government and the BoE actually wanted higher house prices to support their 'booming' economy - but they wouldn't do that would they?.
HAL
3. denzil said...
I struggle to find the truth in this unless the market around the country is completely out of sync. I can honestly say that the market around my end of Somerset is white hot. As a percentage of properties with agents I would say their boards are as follows 20/50/30 with respect to "For Sale", "Sale Agreed", "Sold". Anything coming onto the market is sold in a few weeks if not days.
Regular bloggers on here know I'm not a bear baiter and neither am I a bull but one thing I am is speechless. I'm not sure if this is the market going through it's death throes but I am stunned. Until land reg stats reflect what is currently being sold it's difficult to gauge what is going on but I'm predicting some serious HPI this Spring.
4. p. doff said...
I agree Denzil. It's the same in this part of North Wales. Yes, there are a few empty blocks of flats where the speculators paid too much off plan and failed to flip, and yes, there is the odd repossession - but otherwise it's business as usual. Peculiarly, several higher price bracket houses (£650K+) which had been on the market for a while have suddenly sold. Waterside property has gone through the roof and some areas seem to be 'enjoying' a bubble within the overall boom. Much of the demand is from English immigrants, holiday home buyers and BTLers, which pushes prices beyond the reach of locals. If it carries on like this, I can see the Welsh activists out with their boxes of matches again!!
5. sold 2 rent 1 said...
denzil,
"I'm predicting some serious HPI this Spring."
I think we will hit 15% HPI by July.
The same happend in Ireland last year (after 3 euro IR rises too)