Tuesday, May 27, 2008
Estate agents: Crisis? What crisis?
The Independent: Estate agents: Crisis? What crisis?
Recent reports on house prices have been universally downbeat. But a National Association of Estate Agents (NAEA) report, published today, says that in April the number of agreed sales, the number of pre-sale viewings and the average difference between the asking and selling prices all levelled off, belying alarmist predictions that the market is heading into freefall.
Posted by caramba @ 10:09 AM (190 views) Add Comment
4 Comments
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1. crash bandicoot said...
Are asking prices coming down? This piece does not mention them so cynical old me thinks that finally people are seeing sense and cutting prices and even more stupid prople are actually buying their houses.
2. letthemfall said...
More empty chanting from the NAEA. The figures tell a different story.
3. new user 2007 said...
That explains why no estate agents are closing down:)
4. Baz said...
"Are asking prices coming down? This piece does not mention them so cynical old me thinks that finally people are seeing sense and cutting prices and even more stupid prople are actually buying their houses."
All commodities prices are determined by supply and demand, basic gsce Keynsian economic theory.
Would you rather rent and pay someone else's mortgage off? Now that is stupid. Every 10 years prices double, there are also periods when prices fall quickly. I would still rather be buying my own home, paying my mortgage off, gaining an asset, Sensible folk look upon their house purchase not as a means to make money on a short term basis, but rather as a long term investment and the pleasure of stability and freedom to make the property a home.
Once on the property ladder if prices fall - so what? If the buyer sells at a lower figure they will make their next purchase at a lesser figure as well.
If you wish to rent and throw money down the drain good luck.