Tuesday, Dec 23, 2008
Looks like time to turn up the HPI heat again
Evening Standard: Found: flats where prices are actually on the rise
This is the second article in this paper today ramping the market, obviously preparing for the widely expected New Year bounce, bloody great, just when vendors were beginning to see sense. Looks like we all have a little longer to wait before we can actually be allowed to buy an affordable property, especially in the gold paved capital.
Posted by bystander @ 01:51 PM (1014 views) Add Comment
12 Comments
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1. wdbeast said...
LIARS!
2. Lloyd said...
This article is rubbish! A very crude attempt to lift the market. Who in their right mind would want a 1 bed flat south of the river! The developers can afford to raise the price by 10%, 50%, and even 100% but if no one walks through the door to buy then it means nought!
Developers need to drop prices by 40-50% just to get people to view that's how far gone the Market is!
3. andrew said...
Rotherhithe, ha ha ha, no chance - 250k - this is a wind up
4. Karma4all said...
Might this be the same as consumer trade down, just like McDonalds initially fairing better until all are screwed down further?
5. Mym said...
Never forget that the ES is owned by the Daily Mail.
6. Tigger007 said...
What sensible person would believe this? Just more scumbags with their heads in the sand trying to talk up their own books.
7. ontheotherhand said...
Liberal and free use of the word 'sold at' being used here. All it means based on their massive sales of 'one or two a week' is that they have upped the asking price to above the stamp duty threshold to make punters feel special for 'negotiating' it back down again. Title of the article could easily be, 'Asking price of one flat raised slightly to get news headline on slow news day'.
8. titaniccaptain said...
Houses used to be worth two and a half times a single income.......back in the sensible old days........and that is where they are going to return. There is already talk in the banks of three and a half times a single income (They dont want to frighten us yet).....House prices for the past few years have been nothing but speculation based on nothing except a dodgy valuation based on your neighbours dodgy valuation etc.......when it comes to houses people are mostly stupid.......they have no idea what a house is worth and will be greatfull if the vendor knocks off 15% even though it is 50% overvalued............so the appearence of the reducing price pulls in the last of the braindead punters..............DCB next spring?......I dunno.......normaly yes....but who would buy a house in a depression and get further into debt?..........just rent till you can breath again. Everyone is holding their breath till the smoke clears..............we are going to need deep lungs lol
9. titaniccaptain said...
Lets be serious here.............can anyone imagine anyone wanting to get into debt when jobs are being lost hand over fist...........No one is safe..............job insecurtity is everywhere.............this is why I get anoyed when I see these 35% trough numbers............rubbish............35% is a fair number when you dont have a depression coming up and the worlds largest personal debt...................get efin real.............If the banks say yes we will lend at 2007 levels then I still dont think anyone with half a brain would touch a new mortgage...........dont forget the potential FTBers are losing their jobs aswell............It wasnt that long ago that a million pound house was a country mansion with 12 beds 5 reception rooms hall and 60 acres to go with it...now you get a 6 bed in city centres for that..........ha ha ha ha they used to be 100 grand.........I REMEMBER THEM BEING SO and im 35....
10. Cheekie Charlie said...
There 'll be no dead cat bounce this time, it's going to go with an almighty splat!
11. little professor said...
Asking price of £254,995 is a joke - they know no-one will pay that just over the stamp duty threshold. It's clear they just inflated the price so they could offer 'discounts'.
Even the title of the article is a con - far from saying prices are on the rise, the Barratt spokesman said prices in Rotherhithe were down by 10 to 12% compared with a London average of 20%.
Oh, and tc - "can anyone imagine anyone wanting to get into debt when jobs are being lost hand over fist" - have a look a few articles down for the story of Connie Allfrey, the 27 year old blonde daddy's girl, who earns £23,000, wants to take out a 10x annual income mortgage to buy a flat, interest only, using daddy as a guarantor, and depending on a lodger to meet the monthly mortgage payments. Never underestimate the stupidity of the British public.
12. nopensionnohouse said...
“Local agents say the flats have been snapped up because of the location opposite Canada water Underground station”
Agents plural? 1 or 2 sales per week? Hmmm. Something doesn’t quite add up with this article… and it’s not just the numbers.