Tuesday, Aug 12, 2008
Would-be buyers now negotiating from a position of strength to find bargains in a weak market
BBC: 'More realism' over house prices
More "realism" has entered the UK housing market, with sellers dropping their asking prices for properties last month, surveyors have reported. But the number of people moving house still fell to its lowest level since the Royal Institution of Chartered Surveyors' (Rics) survey began in 1978. Rics said that the squeeze on mortgage availability continued to dampen the UK housing market. And it added that "confused messages" over stamp duty could hit confidence.
Posted by jack c @ 08:42 AM (880 views) Add Comment
7 Comments
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2. happyrenter said...
ah yes, the comedy skit from RICS.....
I like the way the sentiment has had a slight improvement over the last couple of months
'slight' or rather 'sleight' being the operative word
Sentiment has only improved on the seasonally adjusted (it's summer so let's try to be optimistic) version, but on the raw numbers it continues to slowly get worse!
lies, damned lies and RICS.....
3. justwatching said...
I do like the Haliwide graph though.
On the positive side it extends to 14%, about 2.5% higher than the line.
At the bottom of the scale, we have about 0.2% of room, why is that. Why not expand the scale to -15%? Oh well, they will do by Novemberish.
4. japanese uncle said...
Anyone rushing to buy a house for the next few years to come will bitterly regret such decision quite like those who bought houses during the past few years, as it is so imminent that house prices will be going down further and further. The minimum acceptance criteria: 55% less than the 2006 price. Otherwise don't even think about it and ignore property ads as if they do not exist.
5. Adrian777uk said...
nobody on my propertybee is dropping their house prices...
6. handle_it said...
I'm decorating at the moment and pulled up a carpet. There was a local newspaper underneath from 1993. As luck had it the property section was intact ! 2 bed flats for 39k,houses for 55k. I'm not sure but if I remember things had picked-up by then but even so it did seem a more realistically priced market. I'll put down a recent paper when I'm done ! :o)
7. northern bear said...
Interesting find, handle-it. I have kept an issue of our local property paper from last year. I predict that in future years people will look at the asking prices and laugh. Even my great-grandchildren won't see prices reach those levels again.