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10 Reasons To Believe Prices Have Reached The Bottom


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1/ Halifax provides statistical evidence the housing market may be turning around with prices rising 1.9% in a month

2/ Rightmove shows asking prices rising by 1.2% in a month - rising in 7 out of 10 regions

3/ These headline figures can only have a further positive effect on house prices and housing market confidence

4/ Rightmove confirms estate agent activity is increasing with enquiries up 108% on a year ago

5/ Rightmove shows time on the market for property has fallen

6/ Interest rates continue to fall to record lows putting an upward pressure on house prices

7/ With low interest rates, would-be deposits are not earning much interest sitting in the bank

8/ Housing stock coming onto the market has fallen 45% from a year ago

9/ Pent up demand is huge as potentially hundreds of thousands of buyers have stayed out of the market due to high prices, poor affordability and lack of confidence in the market

10/ House price affordability has improved from a price-to-average earnings ratio of 5.84 to 4.48, with further interest cuts that is moving towards the long-term average of 4

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1/ Halifax provides statistical evidence the housing market may be turning around with prices rising 1.9% in a month

2/ Rightmove shows asking prices rising by 1.2% in a month - rising in 7 out of 10 regions

3/ These headline figures can only have a further positive effect on house prices and housing market confidence

4/ Rightmove confirms estate agent activity is increasing with enquiries up 108% on a year ago

5/ Rightmove shows time on the market for property has fallen

6/ Interest rates continue to fall to record lows putting an upward pressure on house prices

7/ With low interest rates, would-be deposits are not earning much interest sitting in the bank

8/ Housing stock coming onto the market has fallen 45% from a year ago

9/ Pent up demand is huge as potentially hundreds of thousands of buyers have stayed out of the market due to high prices, poor affordability and lack of confidence in the market

10/ House price affordability has improved from a price-to-average earnings ratio of 5.84 to 4.48, with further interest cuts that is moving towards the long-term average of 4

rightmove says 1 in 40 prospective purchasers can get a mortgage. Wake me up when it is 1 in 5.

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1/ Halifax provides statistical evidence the housing market may be turning around with prices rising 1.9% in a month

err, no

2/ Rightmove shows asking prices rising by 1.2% in a month - rising in 7 out of 10 regions

without buyers to afford them - so, err, no

3/ These headline figures can only have a further positive effect on house prices and housing market confidence

err, no again (are you a bit slow or something??)

4/ Rightmove confirms estate agent activity is increasing with enquiries up 108% on a year ago

enquiries, compared to a selective andlow base - but I'll give you this one

5/ Rightmove shows time on the market for property has fallen

compared to when? that's a no then

6/ Interest rates continue to fall to record lows putting an upward pressure on house prices

err, no they don't. low irts are because of a f*cked economy.

7/ With low interest rates, would-be deposits are not earning much interest sitting in the bank

true - another one I'll give you

8/ Housing stock coming onto the market has fallen 45% from a year ago

and??

9/ Pent up demand is huge as potentially hundreds of thousands of buyers have stayed out of the market due to high prices, poor affordability and lack of confidence in the market

this is b*llocks. they just don't have access to the money. try getting a mortgage when you're unemployed.

10/ House price affordability has improved from a price-to-average earnings ratio of 5.84 to 4.48, with further interest cuts that is moving towards the long-term average of 4

so it's slightly over halfway of the required fall - further to go then

I do agree that my glass is half full tho - but not yours if you belive this nonsense - 2/10

make that 1/10 for being an estate agent

Edited by Si1
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considering that rightmove and halifax ridiculed the suggestion things might be turing around when they released their data you don't even have a stump of a leg to stand on.

Not even a good try. totally pathetic. Tell us, how much are you losing on your 'investment portfolio' right now?

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If an acceptable rate of return on an investment is now 5% ish, as a result of the reduction in base rates to 1% and possibly lower still. We might just be reaching the time when certain quality properties may be worth considering buying with gearing. The property needs to return around 5% after all reasonable expenses excluding mortgage interest.

Gearing will help magnify gains (and of course magnify losses) BUT if you can get a long term fix at around 3%-4% then it just may make sense if you believe that inflation will be the evitable by-product of the governments rescue packages.

Before I am shot down in flames do note that there are a number of caveats to this opinion.

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considering that rightmove and halifax ridiculed the suggestion things might be turing around when they released their data you don't even have a stump of a leg to stand on.

Not even a good try. totally pathetic. Tell us, how much are you losing on your 'investment portfolio' right now?

The whole thrust of Rightmove's report is bad news - but their own figures on asking prices, time on the market and enquiries, defy that - as do the Halifax figures.

Edited by The Glass is Half Full
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The whole thrust of Rightmove's report is bad news - but their own figures on asking prices, time on the market and enquiries, defy that - as do the Halifax figures.

co-op is offering 250g butter at £1.45

I made my excuses and left without purchase.

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1/ Halifax provides statistical evidence the housing market may be turning around with prices rising 1.9% in a month

Bigger properties only moving so skewing the median?

2/ Rightmove shows asking prices rising by 1.2% in a month - rising in 7 out of 10 regions

Sold prices only for me

3/ These headline figures can only have a further positive effect on house prices and housing market confidence

key word, according to you it is can but surely it is hopefully.

4/ Rightmove confirms estate agent activity is increasing with enquiries up 108% on a year ago

2.5 % mortgage approal success rate will see to that

5/ Rightmove shows time on the market for property has fallen

Sellers just taking it off or is it from 18 months to 17 months and 28 days :lol:

6/ Interest rates continue to fall to record lows putting an upward pressure on house prices

Cuts not passed on to the fixed rate squad

7/ With low interest rates, would-be deposits are not earning much interest sitting in the bank

Earning a fortune elsewhere and if it is in the bank it isnt enough to pay for the deposit

8/ Housing stock coming onto the market has fallen 45% from a year ago

Can't afford to sell..

9/ Pent up demand is huge as potentially hundreds of buyers have stayed out of the market due to high prices, poor affordability and lack of confidence in the market

Corrected

10/ House price affordability has improved from a price-to-average earnings ratio of a typical KFC employee 5.84 to 4.48, with further interest cuts that is moving towards the long-term average of 4

25% deposit required minimumoffsets the reduction in the multiple you refer too

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The whole thrust of Rightmove's report is bad news - but their own figures on asking prices, time on the market and enquiries, defy that - as do the Halifax figures.

Care to comment on Knight Frank's dire numbers for prime central London for January 2009? -3.7% for the month :o The numbers are so bad that KF have lowered their already optimistic crash prediction from -30% to -35% :o:o:o

http://www.knightfrank.co.uk/press/Prime-C...nuary-2009.aspx

Monty

Edited by uncle_monty
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9/ Pent up demand is huge as potentially hundreds of thousands of buyers have stayed out of the market due to high prices, poor affordability and lack of confidence in the market

Once again you struggle to understand the difference between demand and desire. Because of high prices, poor affordability, lack of confidence, and to add to that list, lack of credit (or more to the point, lack of deposits), there is VERY LOW demand. This is reflected in the Rightmove report that says only 1 in 40 potential home buyers can get a mortgage. So effectively, if you take the increase in activity since the new year, divide it by 40, you've got your demand. That is the demand for housing at current prices, and it is very, very little. The rest of the activity are time wasters, people that want but can't have, people that walk into a Ferrari showroom to see all the shinny red cars but can only afford a Ford Fiesta. Get it?

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1/ Halifax provides statistical evidence the housing market may be turning around with prices rising 1.9% in a month

2/ Rightmove shows asking prices rising by 1.2% in a month - rising in 7 out of 10 regions

3/ These headline figures can only have a further positive effect on house prices and housing market confidence

4/ Rightmove confirms estate agent activity is increasing with enquiries up 108% on a year ago

5/ Rightmove shows time on the market for property has fallen

6/ Interest rates continue to fall to record lows putting an upward pressure on house prices

7/ With low interest rates, would-be deposits are not earning much interest sitting in the bank

8/ Housing stock coming onto the market has fallen 45% from a year ago

9/ Pent up demand is huge as potentially hundreds of thousands of buyers have stayed out of the market due to high prices, poor affordability and lack of confidence in the market

10/ House price affordability has improved from a price-to-average earnings ratio of 5.84 to 4.48, with further interest cuts that is moving towards the long-term average of 4

All the best selling your house mate.

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The sold prices at the Savills auction today seem to be going for going for more than the guide prices. Even some of the unsold lots reached the guide, but the reserve price must have been set higher than the guide.

The auction is still running, it seems that investors still have money to invest in property.

Link to the auction results here.

Warning: the results may shock some bears of a nervous disposition!

An example was lot 26: a cottage with 0.4 acres of garden in Marlow.

Guide: £270K+, Result: SOLD £406K :o

Another house in Maidenhead (lot 27) sold at auction for MORE than the price paid in 2006. :blink:

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I think the OP is being attacked for voicing opinion.

I was in the car park of B&Q the other day and was in the line for a cheese burger and was chatting to this old fat American bloke and he said he was all shook up with current economical events. He mumbled that it is now or never and he thinks everything will be alright soon.

He reckons people on hpc have suspicious minds.

He had to shoot off as he was busting for a shit

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