Wednesday, Jan 21, 2009
sorry could not help it......
Fair Investment: House prices could start rising again by the end of 2009
"...Because the number of new sellers has halved as the level of new enquiries has doubled, Rightmove.co.uk predicts that the UK property market is now within eight per cent of the lowest it will go and will therefore soon bottom out, as supply and demand runs its course and pushes prices back up again by the time 2010 is rung in..."
With this kinda logic, I am sure we already missed the boat folks.....
Posted by fjcruiser @ 03:09 PM (1247 views) Add Comment
24 Comments
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1. p. doff said...
''Rightmove.co.uk predicts that the UK property market is now within eight per cent of the lowest it will go''
Hey, that's a great crystal ball you've got there Rightmove. Can I have one please.
2. Loneranger said...
Are these people serious?? Do they not watch/listen/read the news? The economy is in bits, we are financially kaput and these idiots produce investment articles I would not expect from a GCSE student studying basic economics!! Rightmove, read my lips ' The banks cannot lend/give money away anymore as they are broke! Who will have the finance to buy these so-called bargains?'
Reporting at its worst, dream on......
3. Jake said...
House prices could start rising again by the end of 2009.
And pigs could have learnt to fly.
4. Gooders said...
I agree entirely with the reeasoning of this, however, it forgets to mention that with only 4 mortgages in the UK available at 95% LTV.
All 4 being at 6%+ AR the FTB cannot afford to get on the propert ladder without saving another 10%-15% deposit. Not to mention a flood of forced sales on the way due to redunduncy....ohhhhh yes i forgot the taxpayer will pick up this bill and all those who lose there jobs will be able to saty in their homes....yeah i believe in Father Christmas too.
5. mark wadsworth said...
I'll wait off the next 8% fall and see what they say after that.
6. rm96696 said...
All those properties that the article says have been shifted to the letting market, have they been let?
7. Pacman741 said...
More utter tosh. Like trying to play chess blindfolded. Anyone smell the desperation, or is it just me?
8. down wave said...
When you let a Lodger move in to your home, after some time you can become friends, if you
live in a house on your own, the company becomes accustomed and the extra money and help
around the house becomes indispensable. Many people that live in a house on their own are
now providing affordable accommodation.
Rightmove has ommited to take into account the mass unemployment and bankruptcies that are
now already Accumulating at unprecidented rates.
There will simply not be the money or well paid jobs to sustain Rightmove's prediction.
9. will said...
Of course buyers interest is on the up, but we are only seeing how much prices are dropping, we're not actually buying the houses.
Very few asking prices are reflecting the apparent Index falls. Until EVERY property on the market drops in line there will be very little buying activity. It may take years, as in the early 1990's, and maybe much longer.
I urge anyone thinking of buying now - DON'T DO IT.
10. justwatching said...
What a chunt.
Mortgage drought has become a flood then Miles??
11. will said...
Miles Shi side - totaly desperate "vested interested' moron - but he knows that already.
12. luckyjim said...
Time to 'fess up..
I went to look at a new build at the weekend. It has recently been reduced by 25%.
I negotiated hard and knocked another 15% off.
So...
Oh I can't bring myself it.
13. bluebeach said...
Prices will rise. There will be a rush to convert cash into bricks and motar once the printing starts. Mega inflation will erode cash, erode debt, but increase house values.
14. Cozza said...
''Rightmove.co.uk predicts that the UK property market is now within eight per cent of the lowest it will go''
"Hey, that's a great crystal ball you've got there Rightmove. Can I have one please."
Rightmove's crystal ball forecasts that Miles Shipside will keep Company profits high, halt the insolvency of Estate Agents throughout the country and attempt to hinder the realisation that 3.25 x income does not even buy a crummy studio flat on many people's salary, even 8% down. Yes, Shipside, it does seem realistic that property prices should bottom out 8% down from current values.
Can I have some of what he's on, please... ?
15. rm96696 said...
Will prices start to rise at the end of 2009? Will rightmove be bankrupt by the end of 2009? I think the latter is far more likely.
16. sneaker said...
Well if they print enough money, of course they will!
But relative to everything else? Probably not.
Except for debt. All that debt is going to be burned off.
But I wonder if it will be denominated in Sterling or Euro by the time it is.
17. Unsettled said...
With mega inflation comes mega interest rates, what will that do for house prices?
18. luckyjim said...
Sounds like a good time to have your wealth in bricks rather than cash. And even better to be have debts rather than savings.
19. Dotlink said...
People who got properties that WANT to sell just can't sell at the right price without going into negetive equity, so therefore they just try to ride out the storm by renting their properties out, and for the people who NEEDS to sell their properties are also can't sell at the right price without going bankurpt. The banks and UK is leading to a very slow death, so i just can't see how the poperty market and house price will rising. Anyone want to buy UK?
20. inbreda said...
@12
yes and no. If they erode debt by printing money, they also kinda need to increase interest rates otherwise nobody will want to hold sterling, the value of which will fall leading to higher import costs leading to more inflation and people defaulting on their mortgages. House prices are not going to be a good place to be. It woould probably be better to borrow money on a fixed interest rate and buy gold.
21. dohousescrashinthewoods said...
Yes, quite likely with hyperinflation.
22. it_is_going_with_a_bang said...
The whole country is painfully throwing jobs to the wall and yet Rightmove think that it will be better within 12 months.
Unlikely.
The theory is basically that although purchases have "halved" - new "enquiries" have doubled.
Enquiries????? Anyone can make enquiry claims - Even I have been tempted to ask for hell of it - but with absolutely no intention of buying, just want to see if I can force someone to sell at 50% off.
Enquiries do not make money. the theory that prices will be "pushed up again" is utterly baseless.
Brits "rushing" to secure a bargain.....?
The basic problem facing people the Multiplier of salary and LTV - which at this moment in time does not look like getting better anytime soon. As every day passes the LTV gets worse for those with existing borrowing. That's if they have a job!
23. Daniel said...
Every FTB in the country should boycott their site. That would stop them making such desperate lies.
24. Morbotheterrible said...
Enquiries are up because people are worried about house prices. Whilst on the internet it is easy to look at the prices in your area.