Tuesday, May 26, 2009
Not everybody is worried about the property market
Telegraph: Property market: ’Tis the season to be jolly
A rather good attempt to talk up the market. I can understand why an article like this might tempt somebody onto the ladder. The estate agents are fighting back!
Posted by quiet guy @ 09:19 PM (1327 views) Add Comment
15 Comments
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1. cyril said...
Hold the front page! Straw poll of half a dozen estate agents reveals renewed optimism about the housing market
"No longer are prices plummeting by 3-4 per cent a month, but by a more stately 1-2 per cent". Hurrah!
Do people get paid for writing this drivel?
2. Ulfar said...
Wow 1 or 2 percent falls during the spring bounce, not so much of a bounce is a damp squib.
3. Graham said...
This isn't news. The government has put in everything to make this Spring the start of property market recovery in order to underpin prices:
- Stamp duty is suspended on up to 175k to tempt new buyers to buy before the autumn.
- Banks have been underpinned on the understanding they shore up mortgage lending.
- The BBC have been told to report optomistically on the housing market. I have no evidence for this other than what I see. A typical example: working lunch spend 11 minutes reporting a 0.9% increase in house prices by one survey. The next day, a 1.9% drop gets just 19 seconds. Declan Curry couldn't possibly have spoken any quicker.
- Banks and building societies have been told at the beginning of the year to hold off repossession until 6 months of arrears are accrued., conveniently covering the entire spring bounce period. Spring forced sales are postponed until autumn, buyers can hold out for better prices.
- The BoE pumping hundreds of billions into the banking system through buying up gilts, providing extra liquidity.
- The BoE slashed interest rates, encouraging those with savings to invest (potentially in property), and giving those with tracker and SVR mortgages an easier time meeting their mortgage payments.
- The government masks the effects of private sector unemployment by massive public sector increases.
I'm sure there's more I have failed to mention. Well, guess what? All of that and there are still 1-2% monthly drops. They failed. When winter arrives things may get much much messier. A sorry end to a decade of self serving crooks under the label of the working class party, labour.
4. jackas said...
Can somebody let these gimps know that for a first time buyer it's been the season to be jolly for about a year now, and long may it continue.
5. buctootim said...
Actually thats a fair article. Its not talking up prices, just saying that well priced property will sell - which is self evident. In any market there will be people who want to move. If you sell low and buy low whats wrong with that? Theres more to life than staying in a place you dont want to be for years until the markets turns. If you want to move and can afford to - then move.
6. dead spider said...
From the list of the "Fab four that are pulling in the punters" at the bottom of the article :
Item 2 : Bayswater, London, three-bed mansion flat, £625,000 On the market seven days; four viewings and an offer of the asking price. Aylesford, 020 7351 2383
This would appear to be 1 Caroline House , 15 Bayswater Road , London , W2
Rightmove property Id No. 12489138
Should be interesting to see if it actually sells .
7. inflation is eating my savings said...
Reads like that bit out of Dark Side of the Moon where that shrieking woman chills and Rick Wright finds a warm major chord.
Not really aimed at FTBs. Perhaps also preparing commuterville for price drops, in its way.
8. dead spider said...
This one .
http://www.rightmove.co.uk/property-for-sale/property-12489138.html
9. Fallingbuzzard said...
Very similar to the 1990s. The mistake buyers made then was to think that confidence mattered more than economic fundamentals. I fear its a worse situation today. Bags and bags of confidence in future house prices from some buyers without any economic foundation whatsoever. Fingers will be even more burned than in the 90s which is laughable but unavoidable.
10. Mungo Jerry said...
oh my god, its awful! loving the use of the descriptive word mansion. you cant polish a t*rd
11. crunchy said...
5. inflation is eating my savings....On that note, that's what R. Kipling meant I couldn't think of the words. lol
Ticking away the moments that make up a dull day
You fritter and waste the hours in an off hand way
Kicking around on a piece of ground in your home town
Waiting for someone or something to show you the way
Tired of lying in the sunshine staying home to watch the rain
You are young and life is long and there is time to kill today
And then one day you find ten years have got behind you
No one told you when to run, you missed the starting gun
And you run and you run to catch up with the sun, but its sinking
And racing around to come up behind you again
The sun is the same in the relative way, but youre older
Shorter of breath and one day closer to death
Every year is getting shorter, never seem to find the time
Plans that either come to naught or half a page of scribbled lines
Hanging on in quiet desperation is the english way
The time is gone, the song is over, thought Id something more to say
Where did that kind of quality go! Back to the thread.......
"Not everybody is worried about the property market".... Nor should they be.
12. happy mondays said...
"Not everybody is worried about the property market".... Nor should they be.
Wise words, life is to short to get caught up in one thing... Look beyond the pointing finger, otherwise you will miss all that heavenly glory...
13. inflation is eating my savings said...
great stuff crunchy.
I had my ten year moment a couple off years ago!
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