Tuesday, Jun 16, 2009
Savills point to prominence of cash buyers
Mail: Will property recovery vanish as in 1992?
'Transactions had fallen off a cliff but now it looks as if we have returned to normal recessionary conditions, says Yolande Barnes, director of residential research. The market is being driven by cash buyers and those with high levels of existing equity. This means that there are more transactions than the mortgage market would suggest.' Yeah, d'uh! 'It also means, bizarrely, that the mainstream market is behaving like the multi-million-pound prime market at the moment.'
Posted by wanderinman @ 12:29 AM (750 views) Add Comment
5 Comments
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1. bleakhouse said...
Well, I know it's along wait, but eventually the transaction numbers for June will appear in the land registry. The last figures for transaction numbers refer to February although the report was about April. Ah hae ma doots. Ms Yolande Barnes.
2. mark wadsworth said...
Yes.
3. inbreda said...
not surprising given the drubbing being meted out on the prudent. Some were bound to capitulate. This source of merriment for the VIs will dry up very soon, and then they will be left with high interest rates, no transactions, and very little to smile about wrt prices!
4. Dk Spencer said...
There is one thing The Bulls and Bears should all roundly condemn
In my opinion, there was no politicial will to make sure house prices came down to an affordable level between the years 2000-2007.
LABOUR Ministers were lying through their teeth.
Why?
Because they were making Personal Profit, and never thought they would get caught.
The government ministers repeatedly tried to refuse the freedom of information request by the Telegraph, who specifically asked about ministers allowances for housing
They were flipping houses for profit.
Alistair Darling, for instance, flipped 4 houses, making a profit each time he bought and sold a property.
Ministers 'flipped' their homes to milk the system for the most money possible, under the LABOUR approved expenses system.
This is Labours legacy. They destroyed the aspirations of generations, of hard working decent people, who only wanted to buy a small house.
They will never pay these ill gotten gains back.
They destroyed our dreams, and even now are keeping prices artifically high
TRUE CRIMINALS
5. Crashwatcher said...
Dk Spencer - I thought the expenses system was approved by CONSERVATIVES in the first place and continued by Labour as it supplemented the meagre (compared to buisness executives) salaries of MP's.