Monday, May 21, 2007
Another report on recent falls
Independent: House information packs take toll on property prices
A tipping point?
Posted by pr @ 02:14 AM (147 views) Add Comment
3 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. confused76 said...
"Rightmove said the modest UK price rise was smaller than traditionally seen during the peak of the spring marketing season, and blamed the four interest rate rises since last August for the slowdown"
Surprise, surprise... the interest rate increases are having the effect that they were intended to have... and Rightmove "blames" them ???
And what should we do according to Rightmove, and our bullish friends... contemplate this bubble growing forever?
This small correction in May reduces the annual price gains from 15% to 13%.... and they "blame" the slow down!?
What a bunch of commentators-cum-vested-interests?
Any comments from Golden Sunshine and other property enthusiasts?
2. Ilejustwait said...
ive got an idea ? why not place a lower price on property !! , thats start by 10% , THAT SHOULD DO IT !! ,
well its a start for now , and if sales are still down then lower it again by another 10%, and you never know this might be the best move you made, or should i say the right-move !!
3. Waitingtomove said...
"The website added that new instructions per estate agent in the past two weeks were 4 per cent up on a year ago, a substantial turnaround from the recent 10 to 15 per cent fall. It said vendors were clearly choosing to hoist the For Sale sign before the 1 June HIPs deadline. Miles Shipside, commercial director at Rightmove, said:
"It is strange to see this in a rising interest rate environment, which would normally discourage more sellers."
Perhaps it's "strange" because it's not due to HIPS at all - has it not occurred to anyone that this could be the first surge of a tsunami of sellers trying to get out of a market that is about to collapse? Houses in the UK have absurdly become something to trade rather than something to live in, and under those circumstances, people are only in it for the investment. Of course, the first rule of investing is "buy low, sell high".....perhaps wise investors are selling up?