Wednesday, Mar 07, 2007
London Market slackening
findaproperty: Property Prices Easing In The Capital
"Four areas of London experienced negative price growth, the largest decline being inthe North-East with a -0.3 per cent drop.........."
'negative price growth'?
Posted by kagiso @ 10:25 PM (184 views) Add Comment
6 Comments
- If you do not have an admin password leave the password field blank.
- If you would like to request a password allowing you to add comments and blog news articles without needing each one approved manually, send an e-mail to the webmaster.
- Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
- Please note that any viewpoints published here as comments are user's views and not the views of HousePriceCrash.co.uk.
- Please adhere to the Guidelines
1. paul said...
"Any further rate rise is certainly going to put a stop to this crucial group entering the property market."
Yes, dream on. FTBs are not waiting to buy your crummy 250k studio flats. They are waiting for you to come crawling back in a years time when you ask them what they want to pay.
If the MPC doesn't raise rates today, there will be a storm kicked up. Brace yourselves!
2. Ericc said...
I love the fact that Paul Smith believes that a rush to sell before 1st June will *increase* house price inflation!
3. monty said...
"With the high demand for properties still unsatisfied and the expected surge of properties for sale we anticipate property prices to increase by three per cent by the summer months."
This has to be the most twisted take on the laws of supply and demand I've heard in a long time.
paul,
I'm not even going to attempt to call today's decision but Merv's colours are firmly pinned to the mast.
This has probably been posted here before but was reposted to the forum yesterday. It's from the meeting with the Treasury Select Committee on 30 Nov 06. http://www.publications.parliament.uk/pa/cm200607/cmselect/cmtreasy/89/6113002.htm
Q16 Angela Eagle: In essence, you are more worried about other asset prices than house prices?
Mr King: We are worried about all asset prices, but the last thing I am going to do is to make it easy for people to say that the Bank is concerned only about one asset price. We are not. We are targeting inflation, not house prices, and we are concerned about the outlook for the economy as a whole, not just one market within it.
4. paul said...
This is why I think they will raise rates today, monty - if they are true to their actual inflation target.
They must be collectively true to their word though - they are a committee with individual voting rights after all. Mervyn was overruled on the August 2005 rate cut, and could be again.
5. rich said...
"With the high demand for properties still unsatisfied and the expected surge of properties for sale we anticipate property prices to increase by three per cent by the summer months."
Perhaps he's coming from the angle that house price statistics can't go up until people actually sell some.
6. Weycresto said...
I live in East London and the scale of construction of 1/2 beds flats is awesome. Cranes everywhere, Barretts are building four, quite high rise towers near East India Docks and Ontario Tower nears completion.
Of course the local rags are still are still trying to hype the market like mad. Some developers seem to have given up on FTB
s altogother and going for the BTL's offering "6% guaranteed" I suppose if you can fill them with East European plumblers you can do better ;o) !