Monday, Jul 21, 2008
Save Rightmove by lowering prices and easing credit.
guardian: House sellers forced to cut asking prices as pool of buyers dries up
People selling their homes have cut the asking price by an average of more than £4,300 in the past month to catch the eye of a dwindling number of buyers, according to a report published today.
Shipside, "commercial director" at Rightmove, blames unrealistic prices and banks' credit clampdown for breaking his "business model"
Posted by mken @ 07:22 AM (552 views) Add Comment
6 Comments
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1. Suzy And Joe said...
"Shipside said any meaningful increase in the number of homes being sold would need a U-turn by banks over their lending policies. "Banks need to be careful they do not get blamed for a second crash in 20 years,"
So the banks are flush with cash then! And there was me thinking they weren't lending because they had actually run out of money...
2. str 2007 said...
Well this is a welcome message from Rightmove.
It's true that alot of sellers are dreaming with regard to their asking prices for very ordinary houses.
I've seen a 5 bed come down from £565k last year to £450k last week, I predict it will now sell, but this discounting is the exception still.
3. angonamo said...
Peter Spencer, chief economist to the E&Y ITEM Club, said: 'We expect prices to drop by around 10 per cent through 2008 and a further 6 per cent through 2009.'
How stupid is this man ? According to Halifax prices have already dropped by 8.5% since January and 'Spencer here' see's a 10% fall for all of 2008. So Ernst and Young expect that for the remaining 6 months prices will only fall another 1.5% ... I don't think so.
Shame that the writer didn't pick that up.
4. Will said...
Sound like Miles Shipside threatening the Banks. Funny how things change isn't it ?
5. paul said...
angonamo, completely agree.
There are too many journalists not exercising proper analytical judgement on the figures being coyly pushed out by the industry.
6. mark wadsworth said...
Buyers' strike! Buyers' strike!