Wednesday, Aug 11, 2010
More bear food - every little helps.
City AM: Rise in house prices grinds to sharp halt
"THERE was further proof that the property market is cooling down yesterday, after government figures showed house prices were flat on the month in June... That cut the annual rate of increase to 9.9 per cent, compared to 10.6 per cent in May... The downbeat numbers chimed with pessimistic data from the Royal Institute of Chartered Surveyors (RICS), which yesterday reported the first fall in house prices for a year. RICS said the balance of surveyors reporting a rise in house prices retreated sharply to -8 per cent in July, compared to +8 per cent in June and +21 per cent in May ".... with 28 per cent more surveyors expecting prices to fall over to fall over the coming months,” RICS said".
Posted by mark wadsworth @ 10:20 AM (1454 views) Add Comment
29 Comments
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1. str 2007 said...
Down Beat numbers. Pessimistic Data.
Surely this is good news for everyone and something to be celebrated.
The banks have to grant smaller loans for the same sized houses they did last month - Sureley this would leave them with more money to loan to other people.
A win win situation.
2. mark said...
MW do you happen to own shares in Tesco
NOTE TO WEBMASTER - GET RID OF THIS ANNOYING CAPTCHA.
3. Kk said...
....Sorry about the Ambush Blogging but its for a good cause.
We in Isleworth are desperately trying to save a 200 year old original Coach House Inn and even more importantly a very rare Farriers Stall which until recently still had the original Willow woven stall dividers.
This is a stunning piece of old London that tells story of those travelling to the south west by coach and horse and it was from this Inn that the field horses were x changed for the more stable City horses and vice versa on the outward journey.
This complex of buildings with its overlaid cobbled courtyard is today a rare find in London today and should be saved from the imminent development the current price for this property and accompanying land form the Local Council is 420 thousand and is far and away worth so much more to a sensitive owner even a riding school.
We need help to save the Rose and Crown. London Rd. Otherwise it will become an early release bail accommodation hotel with half of the complex torn down and a vital link in the historical development of modern communication will be lost to all of us forever. P/H.
Regards
kk
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7. techieman said...
i think what i will do is report the comments - then they will take a look wont they??
8. techieman said...
Mark , drewster - reported yours and mine - please dont take offence!
9. mark said...
we can only hope
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10. pelethar said...
Anyone else not got a clue what these people are on about? No? Just me then.
11. techieman said...
"Anyone else not got a clue what these people are on about? No? Just me then." - yep just you!
We are trying to convince them to get rid of the reCaptcha - its a relatively new thing here. Actually i wouldnt mind but for the fact it keeps coming up with stuff you cant type or read!
We already have to put in a password or email so i for one dont see the sense!
12. pelethar said...
Just pretend for a moment that I'm some sort of techno-moron. What's a Captcha?
13. Pelethar said...
ohhhhh this thing with the wonky words, right. Never mind!
14. mark said...
A big net to captcha ya in
15. techieman said...
its the thing where you have to type in the two words in the little box :)
16. mark wadsworth said...
@ STR 2007, congrat's for being the only person on this thread to address the actual (although admittedly rather dull) article and come up with a sparkling new argument for lower house prices.
@ Mark, no I don't. I just like shopping at supermarkets and always have done.
GET RID OF THIS ANNOYING RECAPTCHA
17. techieman said...
Mark W - no you have to post the recaptcha protest on its own so i can report it,
STR2007 might want to take a lookie at the markets today..
18. mark said...
GET RID OF THIS ANNOYING RECAPTCHA
19. thebulltrap said...
Unrelated to the article but, kk, surely if this place you speak of is so old with surviving original screens etc, then these will all be protected? I'm assuming the building is listed.
Techie, Mark, Drewster. I completely sympathise, I tried to post earlier from my phone but the word was far too long and nonsensical so I waited until I got home.
20. pelethar said...
Umm, it seems to have gone - people power at work?
21. Webmaster said...
The reCAPTCHA has been temporarily disabled and we'll keep an eye on the amount of spam coming in for the next couple of weeks. If you have any comments or requests in the future, please email us!
22. techieman said...
nice one Webmaster!!
23. str 2007 said...
Techieman
Been out today and not in position unfortunately
Yes quite a fall - was that a technical trigger or was there some news that wasn't liked today ?
I thought the QE2 was getting going again state side, but I guess things have moved on from your Newsnight post yesterday.
24. Skeptical First Time Buyer said...
@21
If only we could persuade the "Housemaster" to temporarily suspend mortgages of over 3 times salary.
25. mark wadsworth said...
WOO HOO THEY GOT RID OF THIS ANNOYING RECAPTCHA!
26. mark said...
it is a pleasure to post now.... party anyone?
27. techieman said...
str2007 - just back from footie.. i posted something re QE2 yesterday, and said the other day that the markets might not like it. To be honest this formation is a very good technical indicator of steep falls - hence the post by perfectstockalerts.com [you tube].
As i said i did expect one more push up to end the retracement off the March 2009 lows... but i also said today that if yesterdays lows were breached then it looks all over.. i.e. by that i mean the retracement from March 09 is finished.
To be fair then who called the retracement top is somewhere between FP and myself. :).
28. str 2007 said...
Techieman
Cheers for that I shall watch with interest, maybe even participate.
Had my head too deep in work to look at charts etc. for the last couple of days - always the way.
29. techieman said...
str2007 - well this is what i said - maybe it was just a lucky guess?
http://www.housepricecrash.co.uk/newsblog/2010/08/blog-dr-marc-faber-quashed-the-deflationists-in-his-abu-dhabi-lecture-29768.php - 57
"The clue will be what the Fed do this week at their meeting and MUCH more importantly the markets reaction to it. It might not be too pretty!"