Monday, Sep 27, 2010
Not a HPC but ''repricing''
Independent: House prices fall across the whole country as buyers sit tight
Mr Donnell [Hometrack] said, however, that despite the worsening of market conditions, he did not expect to see a full-blown house price crash. "Over the rest of the year and into early 2011, agents will start to focus on repricing the property on their books to a level where transactions volumes are maintained," he said. "Talk of a double dip, with the implication being that the market will see double-digit house price falls, is over-done despite the weak outlook for demand. We expect a slowdown in the volume of homes coming to the market to limit the scale of absolute price falls over the next 12 months."
Posted by hpwatcher @ 07:58 AM (1584 views) Add Comment
10 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. paul said...
Mervyn King will be planning a rapid expansion of QE as we speak.
2. hpwatcher said...
Absolutely, these b@stards can't have house prices dropping.
3. happy mondays said...
hpwatcher said...Absolutely, these b@stards can't have house prices dropping.
Can they not? I'm sure they will work hard at it!
4. general congreve said...
Put a chunk of the STR fund into gold, problem solved.
5. doomwatch said...
This is firm evidence of EA driven capitulation.
Before the prices start to crash [now referred to as "re-pricing process"] again "properly" [i.e. by > 10%], there needs to be a period of "capitualtion" where vendors realise they can not get what they want. This really will be driven by EAs, who faced with going to the wall, will "advise" their clients to accept lower [realistic] offers.
6. taffee said...
spot on...I worked in the early 90's in EA and one day 'cos nothing was selling we rang all our vendors and said drop the price by 10% today or find another agent
There started the capitulation.
In 1996 in parts of london...you could buy a 1 or 2 bed flat(reasonable) for just £20,000!!!!!!!!!!!!!!!!!!AND NO-ONE WAS INTERESTED!
7. tenyearstogetmymoneyback said...
taffee said "In 1996 in parts of london...you could buy a 1 or 2 bed flat(reasonable) for just £20,000!!!!!!!!!!!!!!!!!!AND NO-ONE WAS INTERESTED!"
Because 90% of the population believed it would be £18K the next year, and there was no chance of making any money in property
(which was actually the view of the builder who pulled out of buying the Bungalow my ex GF was lucky enough to buy back then).
8. taffee said...
that's the truth...people were petrified of moving into a house that was worth less than they paid
9. doomwatch said...
taffee @ 6. I moved to London [stupid I know] in 96, and the 2 bed flats in Islington [mostly sh1t holes] were
going for £60-80k. Which part of London are you referring to ? Gun toting Tootiing ?
10. taffee said...
sydenham,crystal palace penge and belvedere