Thursday, Aug 06, 2009
RICS warning on house prices subtly buried in this article
Times: Shortage of homes for sale expected to push up prices by end of the year
An acute shortage of homes being brought to the market will push property prices up this year as bargain-hunters vie for the best deals, a leading estate agency body forecast yesterday. But it warned that the market had not yet hit the bottom and that prices could start falling again next year as more homeowners are expected to put their properties on the market. The prediction came as Halifax, Britain’s biggest mortgage lender, said that property values jumped by 1.1 per cent in July, adding nearly £1,800 to the price of an average home. Sellers have been deterred from putting their homes on the market over the past year as prices slumped and buyer interest dwindled.
Posted by jack c @ 09:30 AM (790 views) Add Comment
6 Comments
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1. will said...
property coming to the market has slumped as sellers hav e been detered from putting their homes on the market over the last year as prices slumped and interest dwindle
So the few remaining properties left on the market get to raise their prices? What point are they missing. THE BANKS WON'T LEND so you better just hope that you find a cash buyer, and what goes on in the central London property market doesn't create a national trend.
2. mrflibble said...
As unemployment hits 3 million, Gordon Brown, the man who saved the world, allows First Time Buyers the chance own their own home with the introduction of a new 60x mortgage, secured on the strength of the guaranteed Job Seekers Allowance payment.
When asked, Mr Brown said, "Well, you have to keep the whole rancid deal going whatever the cost, after all, we have no other industries left now in the UK other than house and burger flipping."
3. James said...
The Times = staffed by management with btl portfolios............Who constantly lie about their impartiality reporting the housing market.........toilet paper.
4. Mr Plumbase said...
So by the same logic, when all those folks who default on their mortgage and then have their homes seized, thus flooding the market can we then expect prices to drop further? No I thought not.
5. taffee said...
seems like a giant ponzi scheme to me......or like tulips from amsterdam
6. letthemfall said...
It's a Times Times Times Times World