Friday, Oct 12, 2007
House Price Fear Grips The Market
home.co.uk: House Price Fear Grips The Market
Press release: 12 October 2007
The UK housing market's troubles have worsened this month. The Home.co.uk Asking Price Index, a key indicator of market sentiment, released data showing that prices have fallen by a further 0.6% in the last month (England and Wales). Growing fears amongst sellers and dwindling numbers of buyers have driven asking prices down in 6 out of the 9 regions in England and Wales since September. The average lost value for homeowners in England and Wales equates to £1,511 in a single month.
"Discounting of properties on the market is becoming more widespread," commented Doug Shephard from Home.co.uk. "Confidence amongst sellers has plummeted as genuine buyer enquiries have tapered off ...
Posted by doomwatch @ 10:01 AM (735 views) Add Comment
5 Comments
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1. Yorkshireman said...
Take a look at the banner just above the title of the article. No time to waste.
"Josh, Dad's found ya cheque booook !!"
2. taffee said...
so hips is now supporting the market.....total rubbish.....it costs £700-£1000 WHICH IS A COUPLE OF TRIPS TO BLUEWATER ON THE CREDIT CARD.
Forced sellers will have to pay and we know there are millions of them waiting in the wings
3. Azazel said...
Hey this rollercoaster ride is gonna be fun. I put my property on the market in January 07 as I was confident that the housing market would crash having been a regular reader of this website and being reasonably observant to the world. I sold in July by the skin of my teath and put the money into a bond that had just increased its interest due to the credit crunch. Now its getting clearer that houses are not selling and asking prices are reducing. I think its going to take some time but in a year or two I think the prices will be alot lower. And thats if nothing "unforseen" happens. What happens if there is a war with Iran and oil supply is disrupted?
911 was an inside job
4. dohousescrashinthewoods said...
I like the fact someone has quantified the losses in the summary there - someone commented just the other day that they would like to see this as a balance to the VI spin we have had for years about the amount houses have "earned".
5. bidin'matime said...
Azazel - great timing! Welcome aboard the STR roller-coaster...