Friday, Jun 12, 2009
Green shoots talk precipitates rush to market
Home.co.uk: Instructions Surge as Home Sales Pick Up
The property market has lurched forward at last only to find that there is a flood of new properties coming on the market. No HPI while this continues.
Posted by tinecu @ 09:31 AM (785 views) Add Comment
5 Comments
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1. peter_2008 said...
So with all the greenshots, why the ventors have been so modest? They actually reduced asking price by 0.1%? I won't speculate what this -0.1% means. It probably only means that Indeices are unreliable and you should look at the bigger picture.
2. mrmickey said...
The fact is the minute the economy starts to recover the government will be forced to raise interest rates to control inflation therefore destroying any recovery in the housing market. the key is interest rates people are struggling with low interest rates now, what will happen when we have interest rates of 10%.
3. doomwatch said...
The tussle between greedy seller asking prices against the prevailing long term correction, reminds me in some way of fight between King Kong and the T Rex in the original Black & White film; the T Rex takes a few good bites and puts up a good struggle, but Kongs superior power and ability to spot weakness wins through, as he snaps the T Rex's neck and plays with it's limp usless carcass.
4. denzil said...
On the subject of increased property sales there's a property I drive frequently drive past that has been for sale for two years. It was a double garage that is advertised as a barn conversion, no garden, next to a main road. It's shite on all levels. I was very suprised to see it had gone "sale agreed" yesterday. Granted, I have no idea what it went for in the end but I'm amazed that anybody would want to even live there, let alone buy it.
5. mark wadsworth said...
From the linked article "Typical Time on Market drops 55 days to 129 days since May." that seems like a heck of a drop from a very, very large figure to a very large figure. Round where I am some houses have been on the market for over a year. There's rather a nice one at the top of my road that's crept down from £700k-plus asking price to £565k at present, still no takers.