Thursday, Jul 15, 2010
It's (not) grim up north
Scotsman: Jeff Salway: Plenty reasons not be cheerful over house price trends
THE evidence has been building slowly but it now seems that all the signs in the housing market are pointing in only one direction - downwards. Significantly, the Royal Institution of Chartered Surveyors reported on Monday that buyer demand reached its lowest point for two years in June, despite improved affordability and the raising of the first-time buyer stamp duty threshold to £250,000 in March. Firm evidence that buyers are staying away at a time when sellers are growing in confidence means the imbalance in supply and demand that drove prices up last year has now been redressed and set to have the reverse effect.
Posted by quiet guy @ 01:05 AM (599 views) Add Comment
2 Comments
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1. Eternal Sceptic said...
"Firm evidence that buyers are staying away at a time when sellers are growing in confidence means the imbalance in supply and demand that drove prices up last year has now been redressed and set to have the reverse effect."That is one way of describing the situation (Obviously reality went for a hike, when the release was cobbled together).
More likely sentiment realises a fall is on the way and people are delaying purchasing for as long as possible to maximise the price drop.
2. doomwatch said...
It's nice to see Scots property prices going up. One less reason for them to be so doowr and chippie.