Tuesday, Apr 21, 2009
You love it
Daily Express: HOUSE PRICES ARE UP AGAIN
HOPES of a recovery in the housing market have been sparked by a report from Rightmove showing asking prices on the increase for the third month running. Signs that a spring revival might be on the way have tempted people putting their homes on the market to boost their prices by £3,996 – the largest rise for 14 months and the third consecutive monthly increase.
A series of positive reports have prompted economists to say that record low interest rates and lower prices are finally tempting buyers back into the market. RICS says the number of new buyer enquiries has risen for five consecutive months, while the Council of Mortgage Lenders says the number of new mortgage approvals rose by 4% in February. 
Posted by little professor @ 01:36 AM (2534 views) Add Comment
39 Comments
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1. titaniccaptain said...
Ha Ha ha ha nice one LP...........you've got to love the express
2. drewster said...
Beautiful juxtaposition of headlines - House prices are up again, and Sunny days are here to stay!
Just what you'd expect from a newspaper which only costs 20p.
3. titaniccaptain said...
@Drewster...............thats no fluke
4. crunchy said...
lol, Not even subliminal to the intelligent reader. Are Brits so easy to play? I guess that's how most dim wits got into this mess!
"APPY DAYS." PS..... Is that ice cream melting away? lol. Now that's subliminal!
"How chicken helps the eyes, and other kitchen cures." Who reads this clucking stuff?
5. crunchy said...
By the way had a great short trade on gbp/jpy today. Sometimes you just have to love the pound! lol.
Dropped all day long.
6. hpwatcher said...
hahahahahahahahahahahahahahahahahahahaahahahahahahah
these idiots only have one headline!
7. Frank Bell said...
post 6, hpwatcher
Naahhh, they are just 4 or 5 years early with their headlines again, the Express and sometimes the Mail were telling of an Imminent house price crash in 2003 to 2006.
If anyone wants to make a quick Buck, just do a spread bet going the opposite way to any economic headlines published by the muppets at the Express.
8. last_days_of_disco said...
This is a textbook bull trap. I am amazed at how utterly predictable people are.
9. Kara Gee said...
It's amazing that this drivel is actually allowed to go to press, but that's just british 'news' reporting isn't it. Very funny though that they derive 'House prices are up' from sellers unrealistic, uneducated guess-work into what they believe their property is worth.
10. phdinbubbles said...
"these idiots only have one headline!"
Be fair. You're forgetting Diana.
11. a saver said...
Had a look at my favourite US site, Patrick.net housing crash
Lots of other good stuff there. Here's what he says aboutt the current bear trap:
"It's a terrible time to buy when interest rates are low, like now. Realtors just lie without shame about this fundamental fact. Prices fall as interest rates rise, because a given monthly payment covers a smaller mortgage at a higher interest rate. Since interest rates have nowhere to go but up, prices have nowhere to go but down. The way to win the game is to have cash on hand to buy outright at a low price when others cannot borrow very much because of high interest rates. To buy at a time of very low interest rates is a mistake."
12. Attila said...
20p worth newspaper...20p worth article...
13. alan said...
LP,
As soon as I saw the headline I wanted to post it. Well done, you beat me (so did 9 others).
Good spot, drewster! "sunny days are here to stay".
Lock in those rates, there's an interest rate rise coming for all you happy purchasers....
14. uncle tom said...
The sun is shining, so everything must be fine.
That asking prices are still hopelessly ahead of what most people can afford, is a minor detail..
15. happy mondays said...
Whoo hooo, I'm of to buy my first property, top floor 1 bed flat,can sea a view, no lift, no garden, needs refurbing, it's a snip at only £120,000...
Goodbye all you suckers on hpc, i new my time would come! (Click heals together 3 times)
16. paul said...
* 'heels' not 'heals'.
* 'see' a view, not 'sea'
Thanks for turning up happy mondays. I think your mummy's calling you downstairs for breakfast and telling you not to mess with daddy's computer again.
17. Fallingbuzzard said...
This is part of the latest coordinated confidence trick. Pretty desperate really and I can't help but agree with a commenter above. BUy when rates are high, not when they are low. Unless you can get a 25 year fix. I notice that I can't get this kind of fix any more, and even the five year fixes are at the same level I could have borrowed at 5 years ago. Well actually more.
18. timmy t said...
Paul... you forgot "off" not "of", "knew" not "new" and "daylight robbery" not "a snip"
19. happy mondays said...
@ paul, heels yes,it's early in the morning,and did not do spell check, sea not see as in brighton...And paul i think you have never read any of my post before..but no worries, there's always 1 or in this case timmy t 2 that bite...LOL
20. tyrellcorporation said...
Ahh c'mon lads Happy Mondays is clearly a happy bunny - good luck mate (you'll need it!)
21. happy mondays said...
ps paul & timmy t thanks for the spelling lesson, but you missed the main point! top floor 1 bed flat,can sea a view, no lift, no garden, needs refurbing, it's a snip at only £120,000...
22. happy mondays said...
@ tyrellcorporation said... Yeah, guys some of you are being a bit gullible today.. i do not think i will going out and getting heavily in debt to buy some sh*t hole 1 bed flat.. But it is early, and some of you have the wind up your tail this morning! LOL
Oh yeah one more thing, i really like Gordon Brown....lol
23. waitingfor hpc said...
well i have money in the bank ... and i am not buying. House prices are still a joke. 1 bed flat for 120K - you're having a laugh. I would rather move to France!
24. p. doff said...
So that's it, it's all over. And I didn't even notice prices coming down much in this part of North Wales. Ok so a few grossly overpriced houses failed to sell at their silly asking prices, some BTL speculators paid too much for new build flats and got their fingers burned, and sales volumes declined quite a bit. Big deal.
Three cheers for our leaders for managing the crisis so well and averting financial disaster.
Please can I now have my job back, the £ returned to its pre-crisis value, and interest rates on my savings increased above inflation rates.
25. bluebeach said...
What part of N. Wales P.doff? I sold in the Welsh hills and renting down to the Chester / Wrexham border... Crap houses going a little cheaper but anything eye catching is holding up... It seems as if "ah, all's well again now, let us resume the credit craze" I'm not convinced... too many Express readers around I guess!! :O)
26. uncle tom said...
Happy Mondays,
I know Brighton's house prices have a history of being astronomic - probably because people tend to retire there after selling out of London, and are too blinkered to realise that there are much nicer and cheaper places to move to.
But do you really want to pay as much as £120k for a run down one bed flat? Does it really make much odds that you can glimpse some muddy sea water, a bit of shingle and a burnt out pier?
A developer can take a site, and build nicely appointed and well proportioned one bed flats for a build cost of about £25k per unit. But you believe that a second-hand flat in need of TLC is a snip at £120k..
..a little more patience on your part will be rewarded - trust me!
27. happy mondays said...
Well i have obviously, upset a few people this morning.. Did i mention that i work for the Daily Express.. and that i have more money than waitingfor hpc and i already have a house in france and £120,000 for a 1 bed flat is a fantastic deal, so get in, because it's never been such a good time to buy property! Give me a break!
28. p. doff said...
@Bluebeach. N Wales coast, Gwynedd.
29. happy mondays said...
@ uncle tom,
Thanks..At last.. I am actually not buying at the moment, for the very reasons you have mentioned, and the fact that we are getting shafted big time, i was in fact taking the p*ss, but i have hit a few nerves this morning, which has been amusing..
30. mr_smith said...
lol hilarious comments. I think from reading them that happy mondays is clearly JOKING when he says he wants to buy a flat.
imo the postponement of the crash depends on unemployment. and that is going up so who is going to feel safe to buy a house. not me for sure. basically this is the changing of the crash into a decline - which was bound to happen. - as would over the top express headlines. lets remember they just need to sell papers and that healine might make people spend 20p in order to read it.
31. p. doff said...
25. happy mondays said...''i was in fact taking the p*ss''
Personally, I thought that was obvious.
But if you really worked for the Express, there's a job for you at the Grauniad, with spelling like that. Lol
32. happy mondays said...
@ p. doff
yeah thanks, that the good old factory education for you, also i am Dyslostit! LOL
33. george monsoon said...
Happy Mondays - it was obvious, thats why i chuckled when I read your first post.. and laughed even harder at the kneejerk reaction.
34. timmy t said...
Happy Mondays - chill - I got your sarcasm - hence the Daylight Robbery comment
35. crunchy said...
Some people seem to be a little tetchy this moning. Come on where has humour gone?
I split my sides looking at the headline and article.
"How chicken helps the eyes, and other kitchen cures." Nothing about roosting or roasting! You couldn't write this stuff. lol
Happy monday or tuesday indeed.
36. mander said...
The only difference is that there no credit available anymore for rising prices. A profit when selling a house is not longer guaranteed. It proved to be a flowed economic model but we do not have to learn Japan or recent US experience where unsustainable house prices destroyed their economy. Or do we?
37. general congreve said...
What? No Diana?
38. Happyrenting said...
Pure anecodotal: Every day I walk past a block of new "luxury" apartments near my rented flat in South Manchester. All of them are empty with 'For Sale' signs on every window but (to quote happy mondays) a snip at "From £159,950". This morning I wandered past and noticed that someone had taken the time to rip down the huge sign outside, using what must have been a saw to hack off the price from the corner! Either a disgruntled BTLer who can't get tenants into his flat down the road or a miffed FTBer priced out of the area... I would go with the former! Either way, I watched those flats being built and I think I'll watch them lie empty a long time too!
39. Tenyearstogetmymoneyback said...
I saw this in the Newagent and managed to read enough on the cover to determine that the facts behind the
story is that asking prices have gone up. Does that mean that if enough of us ask £10000 for our old Vauxhalls
the price of cars will start "going up".
:- Duncan