Monday, May 26, 2008
Buyer wait for prices to CRASH!
Telegraph.co.uk: House prices fall as buyers 'go on strike'
House prices falls are accelerating as home buyers "go on strike", according to the latest analysis of the housing market.
The average house is now worth 1.9 per cent less than a year ago, a report from Hometrack will say today.
This is the largest fall recorded so far by any of the leading property indices and is the latest evidence that Britain's home owners should brace themselves for a protracted slowdown in house prices.
Property values have now fallen eight months in a row, says Hometrack, the property research company, with sellers achieving just 92.3 per cent of their asking price, on average. This is the lowest level since the survey began in 2001.
Posted by housebear @ 05:13 PM (625 views) Add Comment
7 Comments
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1. Gettinglikemymother said...
Don't understand these figures. "The average house is worth 1.9% less than a year ago"
yet
"sellers achieving just 92.3 per cent of their asking price, on average."
Hometrack need to re-think their definition of 'worth'.
2. Landedgentry said...
"with sellers achieving just 92.3 per cent of their asking price"
That just ain't sexy, gimme 50% off baby!
3. mark wadsworth said...
"Buyers' strike" I love that phrase, because unlike like most snappy catchphrases it sort of sums up what is going on.
4. it_is_going_with_a_bang said...
"Common sense" would be a better one!
5. paul said...
I'm not sure the term "buyers strike" does sum it up.
I personally think it implies that the buyers' position is untenable, irrational and misguided.
6. plato said...
Property is so over-priced there are no bargains in spite of the falls. We're still in the early stages. There's still a long way to go yet.
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