Wednesday, Jul 01, 2009
Nationwide monthly figures - the eye of the hurricane?
Financial Times: UK house prices hold steady
Balanced report - notes v. low volume of sales - v low no. of mortgage approvals - relentless drop in stock for sale. Conclusion: once supply increases, prices will start falling again.
Posted by live4ever @ 10:25 AM (413 views) Add Comment
2 Comments
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1. denzil said...
Agree with the premise of the blog comment that if supply increases the prices will fall but.......
I believe that volume of potential sales would have to rise significantly and in a very short time-frame for that to occur. Where is the driver for that to happen. The economy/jobs/confidence has tanked and repos soared but like it or not the market actually appears to be stabilising. If supply increases significantly and the number of forced sellers to not rise significantly too then I can't see prices dropping significantly.
In summary, without a helluva lot more volume of property for sale and a lot more forced sales then I can't really see where really significant falls are going to come from. There may well be sustained small falls over a longer period until some more sensible levels have been reached. A lot depends on what part of the country people are buying as like the last crash some places dropped dramatically whereas others were more minor.
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