Monday, Jan 14, 2008
HPI in retreat!!!
home.co.uk: House Prices Falter in Uncertain Market
It's official - asking prices are not falling they are retreating and are a bit uncertain of themselves!
Posted by phdinbubbles @ 08:42 AM (1427 views) Add Comment
4 Comments
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1. C'mon Correction said...
You beat me to the posting of this one!
This report now shows that at least half of the UK's regions are showing yoy falls in real terms !! Wales is showing a yoy figure of 0.0% in NOMINAL terms! The downward spiral has started.
2. uncle chris said...
I just love this comment .....
"Whilst most sellers are experiencing heightened levels of interest from buyers, as is to be expected at this time of year, many vendors are failing to secure a sale as buyers find that their mortgage lender’s valuation is too low."
Ermmmmmm .... in other words their properties are overpriced - easy answer guys and gals .... drop your price.
3. paulos said...
My favourite line is on page 7, near the bottom
"Will house prices fall in 2008? ... In terms of Euros (or Gold) UK house prices are already falling fast."
4. doomwatch said...
What muddlespeak will we see next month "House Price on the back foot". It's getting rather comical now. Shades
of our old favourite "The infadel have been defeated" springs to mind.
A few encoraging snippets
Greater London Asking Prices fell this month by 1.2%.
Will House Prices Fall in 2008?
When corrected for the effect of inflation, asking prices are falling in several regions
of the UK. Without further IR cuts nominal falls of up to 10% are possible in the
weaker regional housing markets in 2008. In terms of Euros (or Gold) UK house
prices are already falling fast.
A Buyers’ Market?
Indeed, for a minority of buyers with large cash deposits the market will improve
significantly in the near term. Supply will continue to rise, thereby both improving
choice for the cash buyer and weakening prices further.