Saturday, May 29, 2010
More HPC start evidence
Independent: House market up since Hips dumped
The number of homes being put on the market has risen by a third since the Government announced plans to scrap home information packs, an estate agency said today.
Countrywide, the UK's biggest estate agency, also said new instructions, which are up 68 per cent compared with the same period a year ago, are at levels last seen in September 2007, just before the credit crunch began and shortly after home information packs were introduced.
Posted by gone-to-colombia @ 12:55 AM (2143 views) Add Comment
25 Comments
- If you do not have an admin password leave the password field blank.
- If you would like to request a password allowing you to add comments and blog news articles without needing each one approved manually, send an e-mail to the webmaster.
- Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
- Please note that any viewpoints published here as comments are user's views and not the views of HousePriceCrash.co.uk.
- Please adhere to the Guidelines
1. Grumpy Middle-aged Git said...
I simply do not believe that a £300 HIP fee would put a serious vendor off. When the average UK home is worth approx. £162,000, I would be far more worried about about the percentage commission of the Estate Agent (1.5% = £2400 approx) or if a buy to letter or 2nd home owner the 22% increase in CGT on any profit (property doubles in value = an extra £18k approx) and these figures are for an average property. Where I live you're looking at about double those figures, if not triple!
This is sloppy journalism based on personal conjecture and parroting of the Countrywide vested interest. The last section shows some evidence of independent thinking but I find it hard to lend any credence to what this hack writes.
2. Grumpy Middle-aged Git said...
And where did they get that title from? New instructions may be up a third since the abolition of HIPS but this is perhaps an indicator that the market is about to tank - it all depends on price achieved. This article is the epitome of sloppy journalism.
3. Stu531 said...
http://news.sky.com/skynews/Home/Business/Hips-Scrappage-Sparks-Surge-In-Homes-For-Sale-Says-Countrywide-Estate-Agency/Article/201005415640222?f=rss
Sky reporting this too
4. miken said...
Let's hope the recent 33% increase in the number of homes for sale will soon correlate to a 33% drop in house prices. That would take the average down to about 110K.
5. paul said...
Independent: House market up since Hips dumped
They should have borrowed the BBC's quotation marks as in:
Independent: House market 'up' since Hips dumped
Because what they actually mean is that supply is up and therefore market worth is going to be ... down.
6. nomad said...
http://www.home.co.uk/search/price_info.htm?property=1306166902
The link shows a ding-dong battle between seller and agent. Generally in the Dorset/Hampshire border area I see many more properties for sale and speedy reductions happening.
7. markj69 str05 said...
Mrs J and I were commenting last night that parts of Cambridgeshire appear to have far more properties for sale, than over the last 2 yrs.
Influencing factors:
-No HIP's. Doesn't cost a lot to 'Test the water'. Whilst values are still inflated.
-Sell now before a potential price dip? Over-supplied market at unaffordable (For most) prices. Prices must fall.
-CGT impacting on 2nd + property BTL's.
Throw into the pot: the uncertainty about inflation and the need to raise IR's; stagnant wage reviews; potention rise in unemployment; global debt crisis; etc.. ect... ect...
If I owned any i would get my skis out and enjoy the downward slopes ahead!
@1. miken. 110k is still 4x avg' salary. Unless you have 25% deposit. In the right direction/ball park though, IMO.
8. Glenn said...
Who are these morons who call themselves journalists? Do they really think that more properties are being put on the market because they can save a few hundred quid? Would it have anything to do with:
1) the fear that is now ripping though the ecconomy.
2) the rise and expected rise in unemployment.
3) the fact that the 6 billion of cuts are only the tip of the ice berg.
4) the fact that actuall selling prices are significanly less than asking prices in many areas
5) the fact that CGT is likely to increase for BLT investors.
6) the fact that there will be pressure to increase interest rates in the coming months.
7) the fact that the last 10 years of Labour has been a scam.
8) the fact that there is no real growth. Gordon simply postponed the recession until after the election by holding interest rates near zero and pumping billions into the system.
Are these journalists just not very bright or are they BLT investors themselves?
9. This comment has been removed as it was found to be in breach of our Blog Policies.
10. mr messy said...
mrfibble are you scottish as all you seem to have done is here is use your space to run down the english , you seem to have a big chip on your shoulder
11. mrflibble said...
No I'm not Scottish, I'm English, but I'm not blinkered as to what goes on or how people interact with each other.
You cannot drive anywhere without some Muppet on your bumper, you cannot buy anything without some clown outbidding you using borrowed money, you cannot do anything without someone jumping down your throat or being abusive. The 6x income house ownership racket has made society into a cesspit where nobody has any time for anyone but themselves. No time, no patience, no morals, no scruples. We have become a nation of people who work jobs we don't enjoy, commute monumental distances each day, all so we can live in cramped little houses that cost more than vitally anywhere in the world. When a nation sacrifices everything it ever stood for to obtain one thing then that nation is indeed lost.
25 years ago you could sit on a till down the local supermarket and buy an average house with your average single wage, now that same house requires a couple of university educated people working careers to afford it. If this isn't a case of eating your young then I'm not sure what is. I'd love to say England is a great place but it simply isn't, the constant competing and fvcking over the next guy has been a price too much.
The result of all this house-owner-ism and the associated greed that goes with it is a wrecked currency, an eye-watering debt pile, a £3bn a week deficit, near zero international confidence in us, and the cherry on the cake, houses still at 6x income and the powers that be doing all they can to keep them there. Some may say we are a bunch of fvcktards and it would be hard to argue with them...
And you wonder why I occasional take a pop at the English *lol*
12. gone-to-colombia said...
@7 - I agree
13. happy mondays said...
Well said mrflibble, you just missed out a nation of TV junkies, who are virtually intravenously fed with bullsh*t & so busy f*cking each other over, we haven't sussed out we've been f*cked over, the joke is on us...Absolutely brilliant!
14. house said...
@7, I absolutely agree. The problem is what can we do about it. It would appear that we are in the minority. I own a house and I have seen 3 previous property boom and bust but not like this one where the bust still means 6x average income.
15. gone-to-colombia said...
I wonder if we need to do anything about it, the crash might do that. The deeper the crash the better, a greater lesson will be learned.
16. amjidk said...
Bravo mrfibble.
17. Notyethomeless said...
Mr fibble...@7 ... good rant! Perhaps I can suggest a nice sit down and a cup of tea?
18. dbc reed said...
@7 Mrfibble,
Sorry I read this because similar feelings have been at the back of my mind for years.It makes it worse when you realise its not just a subjective thing but that the English way of life really is as repellent as you say.I am English too.
19. letthemfall said...
mrflibble
Sympathise with a lot you say, except that a university education is not enough either: education is not highly valued in this country, only money. But while we all agree with you here, there is not a few on this forum who's main interest is seeing more of the same, anti-homeownerism comments notwithstanding, under the guise that economic growth of the kind we all understand is what is good for us all. On that I differ.
20. clockslinger said...
mr flibble...I think I love you, having articulated my own sentiments concisely. (You're not a Tory or one of the free market welfare hating nutters though are you? It could ruin everything)
21. mr messy said...
mrfribble, i apologise i see what you are saying,its just that your message comes across very aggressive. sorry
22. growler said...
Mrflibble - can't say I disagree, and I'm a bit of a Tory.
I also am not English, but think it's a great place - were it not for this complete brainwashing we seem to enjoy re house prices. It really is bonkers; the way we talk up house prices, bust our butts to take on more debt, the appaling quality of what we buy etc etc... so that all the people in the property gravy train get paid at our expense. That's the thing that can ruin the UK. I say "can", because I hope that there is such a crash we all really think about it for the next time and have a market much more controlled. All you need is clear lending rules - the rest will sort itself out. Changes the rules (wider goalposts) at your peril
23. mark wadsworth said...
Mr Flibble @ 7 has summed it all up quite succinctly. Nothing to add, except technically it's "Home-Owner-Ism" and not "House-Owner-Ism".
24. Theschmee said...
Mr. Flibble, see comments 8-18. There's hope yet laddy! :0)
25. growler said...
@ 18, MW
;-) since we're in Pedant's corner, it's
mrflibble, not Mr Flibble
;-p