Sunday, Nov 11, 2007
Market close to gridlock ....
Telegraph: House buyers back out of property deals
Falling house prices are causing buyers to pull out of property transactions in large numbers. Estate agents and mortgage brokers warn that the market is close to gridlock, with chains collapsing through buyers taking fright. With prices falling for the second month running, Britain's biggest broker, Charcol, has seen a rise of more than 50 per cent in the past six months of purchasers dropping out even though a mortgage had been agreed.
Posted by uncle chris @ 08:05 AM (1209 views) Add Comment
13 Comments
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1. taffee said...
can't beat the facts.....truth is england needs a market crash for the next generation to move on..rather than a load of property millionaires
Can't believe new labour let the rich get richer and the poor get poorer
2. paul said...
LET THE GAZUNDERING COMMENCE!
3. Orwell said...
Fireworks begin (and November the fifth is past)!
4. inbreda said...
I feel tempted to find a couple of BTLs for sale and put an offer in and then muck them around before withdrawing the offer.
Just for fun, like.
5. Wallstreetcrash said...
or maybe we could start queuing outside Barclays! (that would be very naughty:)
6. stillthinking said...
@taffee
I can't believe NuLabour as well. For the "Labour" party to have pushed this country back to 1920s land ownership is unbelievable.
Blair and Brown will be savaged by history.I am all for a public send them to coventry campaign. Don't talk to them, don't sell them anything.
They should be exiled.
7. bidin'matime said...
It's all over now bar the shouting. And yelling. And general pain-struck screams of BTLers and the like...
8. Orwell said...
Inbreda,
Now that's not very nice now is it?
9. Davros said...
Remember everyone, the fundamentals are underpinning the market.
10. Javier said...
1,2,3,4 & 5 - you really are sad no-lifers!
11. speculatorone said...
I think Brown is that thick wouldn't realise if he was sent to coventry..
12. Ihopeitgoeswithabang said...
If you are renting, why would anyone once they realize prices are on their way down go through with a sale - agreed or not.
Even the smallest % fall is thousands of pounds and definitely not an investment.
I can see why you may downsize or move to the same value house etc - no issues there. But investing in a property now?
People are begining to wake up.
13. autopilotengage said...
Look, everyone; the emporer has no clothes!!