Monday, Jul 28, 2008
House prices 'up by 25% by 2013' - BBC
BBC: House prices 'up by 25% by 2013'
Average house prices in England are set to rise by 25% by 2013, a National Housing Federation report says.
It sees prices falling 4.4% in 2008, 2.1% lower in 2009, recovering by 2010 and rising at over 9% in 2012 and 2013.
Posted by luckyjim @ 09:49 AM (1074 views) Add Comment
16 Comments
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1. icarus said...
And this guy is an expert on when the world economy and world financial markets will recover?
2. Papabear said...
What is depressing is how much prominence this 'report' was given by the BBC (it is the most read story). I'm sure that somebody, somewhere, upon reading this made the decision to make an offer on a house today!
3. Buildmorehouses said...
Note that the authors of this survey represent housing associations. Rather than being the usual housing bulls with a commercial interest in higher prices they want to encourage the government to increase social housing provisions and to ensure that more houses are built. They argue that housing affordability in the long term will only get worse when a nation of 60 million people and rising is currently only building about 100,000 units a year. I happen to agree with them, notwithstanding the current crash which is more to do with a reduction in mortgage lending and the killing off of speculative buying than an excess of new homes. I'm worried that the current correction will not be as big as some of us hope because when the financial markets and economy recover there will again be more people looking for homes than there are homes becoming available. The failure of Barratts and Persimmon and so-on in the current crash might provide some vindication for housing bears but in the long run it benefits existing home owners over future home owners as the supply of new homes is being severely restricted. Time will tell.
4. last_days_of_disco said...
Classic acceptance psychology. When your short term bet goes wrong, pretend you were going long. Which of course is totally the wrong thing to do.
Its just going to make people's losses worse.
5. tick tock said...
Funny how on a day that The Land Registry report HP growth falling for a 10th month in a row in June, to a 'record low', that so many 'happy headlines' seem to have come to the fore in order to dilute the message. And, also, just how many news groups are prepared to faithfully parrot this nonsense as a story worthy of anything other than comedy value alone.
6. Whostolemyendowment said...
Delusional !!!!
7. harold said...
So is BBC News spending our money reporting news or rose-tinted crystal ball gazing?
8. A N Other said...
This is the most EMAILED story on the BBC website. Let them continue .... they'll get what's coming to them :)
9. Ilejustwait said...
they just want the attention, after all who really listen to what the BBC say ??
ANSWER !! NO ONE
10. Gorseinonboy said...
The reality is now and will remain for some time to come that house prices in the UK, USA and many parts of Europe are coming down. That trend has been recorded for at least 6/7 months in the UK with Economic experts predicting anything from 7% to 30% drops over the next 2 years. This is evidence based on what has been happening to house prices.
As I have watched this trend, I have also noticed that a number of organisations ~ all with a vested interest in asserting that the trend is short term or limited or a small correction ~ have been voicing opinions more and more based on the longer term outcomes.The National Housing Federation is one such organisation.
Its views are very wrong about the current position and may be well short of accuracy for the future.
The drop in house prices in the UK has a long way to go over the next 2 years and may well take another year or two before it turns a corner.This is a buyer's market ~ enjoy it if you can raise the deposit or you have sufficient cash.
11. shipbuilder said...
I think the only agenda here is to sell more newspapers and they'll print any old cr*p to do it. Same as the political parties - give the shheple whatever they want to hear.
I don't buy the BBC as government mouthpiece bit - I think the BBC is simply a reflection of the Labour party and wider society now - a beige, insipid, dumbed-down and image-driven shadow of its former self, infested with marketing and media graduates more concerned with maintaining the 'brand' than anything else. Sadly, we'll soon find out that the Conservative party is exactly the same now.
12. Jayk said...
Will you SHUT UP COMPLAINING ABOUT THE FRIGGING BBC. If you want a news service which only publishes stories which satisfy your own view then I suggest you start your own.
God this place is full of cranks. No wonder the rest of the UK media laughs at this place.
13. it_is_going_with_a_bang said...
Push costs bla bla bla.
Funny how availability is getting worse but nobody wants to buy your houses. David Orr you a loser.
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