Monday, Jun 01, 2009
HPC cancelled according to propertyfinder.com latest survey
Mortgagestrategy: Housing market confidence returns
Public confidence in the housing market is higher than at any point since September 2007 and the Northern Rock bail out, shows propertyfinder.com’s May survey of confidence in the housing market. Some 60% of the 2,050 respondents thought house prices would rise by May 2010, with only 32.5% forecasting a fall. 8.5% of respondents thought house prices would be unchanged in twelve month’s time. The survey shows a healthy rise on April when half of respondents, 49.9% believed house prices would increase in the next twelve months and is the sixth consecutive month of improving confidence. The rise in confidence suggests the number of housing transactions is likely to grow.
Posted by jack c @ 07:37 PM (584 views) Add Comment
4 Comments
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1. nomad said...
Survey done by propertyfinder.com so presumably the responders were would-be sellers. It appears they would rather prices went up. Quelle surprise!
Even a ramping article like this one ends on a warning note about the fear of unemployment.
2. uncle tom said...
No amount of confidence can get round the problem of too many people being still unable to afford to enter the market, nor the problem of the many people who should be upsizing, but have no equity left to form a deposit.
Then there is the little issue of the govt borrowing and printing its way round the problem of a nation that has been living beyond its means for years, while making no sustainable changes to underpin the economy or sow the seeds for recovery.
This is not the end of the economic implosion, it is not even the beginning of the end, but it is the end of of the beginning..
(with apologies to WSC..)
3. mander said...
Who is the public are they talking about? Nationwide report states that most of the recent sales have gone to cash rich investors who can not be the public. We are not talking about cash rich buyers and their confidence here because buyers are not investors. Genuine buyers have probably been discusted with the news of prices going up and have been further alienated.
What we are experiencing today specially in London is investors trying to buy up the housing stock at any price in order to maintain a shortage and to preserve the inflated wealth. It is very sad that Gordon Brown allows this to happen.
Imagine one day this shortage will not longer be a problem regardless whether they are or not building houses. Question is can we deal with this reality?
4. Hiphater said...
"Public confidence in the housing market is higher than at any point since September 2007 "
So explain why so few properties are coming to the market please. Anyone with potential/actual negative equity is hardly likely to sell at a loss, so they're sitting tight