Tuesday, Feb 17, 2009
Non-news from the BBC - note 'may' rise. Pointless.
BBC: Home sales may rise say surveyors
"By no means could this relatively small pick-up in transactions be seen as representing a move back to a more orderly housing market."
'MORE ORDERLY HOUSING MARKET' 15%+ growth a year defined as 'orderly'. These people live on another planet!
Posted by tyrellcorporation @ 08:46 AM (870 views) Add Comment
22 Comments
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1. charlie brooker said...
. . . and pigs may fly.
2. Crunchy said...
... and Brown will say sorry.
3. growler said...
"the people live on anotehr planet"
They live on the only planet they know. One which has dusty charts on back office walls showing average house prices rising covering most of their professional lives. They lie slumped in faded green chesterfield office chairs their shirts pulled out of trousers and their ties loosened following frustrated discussions with colleagues in equally empty estate agent enterprises.
Spring is the only time in a good market that the market can sensibly rise. Faced with a whole year of gloom, I can't say I wouldn't want to seem cheerful and try and kick-start my business. Trouble is, the estate agent machine is an old-school engine where kick-starters don't exist anymore. It's long overtaken and now hopelessly out of date and unable to deal with modern times. Expect to see democratic property marketing site as revolutionary (if not ironic) as Rightmove was compared to walking out of an office with tons of particulars.
4. denzil said...
I'm asking myself what the point of this article from the BBC is actually supposed to signify.
We are heading towards Spring and sales and prices always rise.
5. hpwatcher said...
Most certainly not, especially with the threat of unemployment increasing.....................
These people are simply part-optimists/part-liars, trying to get some business.
6. magnifico said...
I'm waiting anxiously on the Haliwide sets of figures at the end of the month,as I feel they would set the tone for the short term ( possibility of a mini- spring bounce).
In the medium/ long term prices have still a quite way to fall IMHO but who will be able to hold their nerve if the sentiment changes, even if briefly?
7. Loneranger said...
I am speechless!! After last week's 'admission and apology' by the bankers, it seems that no lessons were learned and the media is now continuing where they left off, shame on the BBC for reporting this drivel! They should be bought before a media commission to apologisie for reporting this without sound financial analysis as well as encouraging all this property 'wealth' generating through their property porn. I was watching Sky News about 8.45am with their main presenter asking Ray Boulger bullish questions and calling the bottom of the market.
When will these people take responsibility for the postions they hold, they are talking through the window of society via the TV and people will undoubtedly listen and act inappropriately once again.
8. markg said...
There are some important reasons for the spike in the activity in sales. The area is very important because it determines price realism and affordabilty, stock availabilty, social mix and employment. At the moment in the area where I live and work there is a shortage of stock and this has caused 'auction' fever giving rise to multiple offers on properties and therefore sales prices above asking price. Some people are calling the bottom of the market (or close) and therefore some optimism returns. What happens in London is not my concern, prices are probably high but there is a reluctance to leave the city giving rise to excessive pessimism and whingeing as displayed in this blog. Leave your comfort zone and leave the city!
9. tyrellcorporation said...
Unfortunately the opposite happens in a downturn as the city is where you find the jobs. In the SW it's the dole or the state (and even they have stopped recruiting) except for the odd Out-Reach Officer and Diversity Manager position.
10. Eternal Sceptic said...
Cheap guvmint propoganda! Prices might rise and equally as likely, I may see the tooth fairy next week.
11. hpwatcher said...
I'm waiting anxiously on the Haliwide sets of figures at the end of the month
I'm not. More distortions from the HBOS & government liars.......
12. 51ck-6-51x said...
Heh "news"
I'd find it surprising if sales did not pick up over the next few months as more are forced to sell, big cash buyers start accumulating and mortgages are now far more available than a month or two ago ...but I *really* don't expect any increase in sold prices, the downward trend will probably just slow slightly and there is still a way to go to the bottom without some bizarre credit expansion.
13. timmy t said...
"Home sales may rise say surveyors"
"Our suspicion is that this improvement in activity levels is likely to be sustained over the coming months"
"mortgage approvals could climb above 35,000 [per month] on the back of the higher level of buyer interest"
"Interest from owner occupiers is likely to persist over the comings months"
"However, a sharply deteriorating employment picture may eat away at this improvement in sentiment pushing potential buyers back to the sidelines."
Not one statement of fact. A list of things which might happen or might not happen. So you could just as easily read this as "Home sales may fall" etc.etc.
14. markg said...
In actual fact repossessions have dried up to a trickle due to the bank moratorium. Private sales are now leading the way and as said before offers have exceeded asking price. There are cash buyers out there looking for a better return than banks and parents are funding their children's deposits. The medium term future is uncertain due to stock shortage but with the Northern Rock considering re-entering the mortgage market ...who knows...
15. will said...
Nowhere in this article does it mention house prices to rise, only the number of transactions, which ultimately will lower asking prices further as purchasers make lower offers.
16. 51ck-6-51x said...
markg said "In actual fact repossessions have dried up to a trickle due to the bank moratorium."
- have you got a source for this statement, I'd be interested in seeing some numbers.
17. growler said...
@16. 14 Sounds like a lone, optimistic call. ;-)
18. growler said...
for example:---
http://www.telegraph.co.uk/finance/personalfinance/borrowing/mortgages/3832701/Repossessions-to-reach-75000-in-2009-says-CML.html
19. 51ck-6-51x said...
I wish people would not write things like "In actual fact" when they should write "In my opinion"
20. str 2007 said...
growler
''Expect to see democratic property marketing site as revolutionary (if not ironic) as Rightmove was compared to walking out of an office with tons of particulars.''
You're still working on it then ?
21. timmy t said...
51ck-6-51x said...markg said "In actual fact repossessions have dried up to a trickle due to the bank moratorium."
- have you got a source for this statement, I'd be interested in seeing some numbers.
I'm with 51ck-6-51x markg - at least in the article they admit that they are saying what MIGHT happen or what they THINK. Do you have any data?
22. 51ck-6-51x said...
timmy t ...I guess not then. (see his other posts today. I think he is a massive bull - maybe an EA?)