Property Prices Continues To Fall Despite Ramping

[Sybil13]

Sorry I know I have had a few rants this week but last month Nationwide announced a 0.9% rise one day before the Halifax announced a 1.9% drop for the same period but the press continued to say "Green Shoots Prices Rising".

Today we get Nationwide confirming the market is of course still falling and all we get is "that the rate of fall is slowing", and more nonsense about the market bottoming, even though articles contain paragraphs such as:

Michael White, chief executive of broker Email Mortgages, said it was no surprise to see the market falling again after last month's shock rise.

"A return to a monthly fall in April seems to show the market was right to be cautious about any perception that house prices had reached their floor and were on the rise again.

"The 0.4% fall seems to reflect the majority of other indices which continue to show that UK house prices are still falling and will probably continue in the same vein for at least the rest of 2009."

Month after month we have had to put up with the press ignoring the facts in every report .

CEBR said if mortgage approvals double prices would still fall 35% that is £300000 property £195000.

CEBR said if approvals didn't double property would fall 40% +.

British Bankers Association this week confirmed mortgage approvals fell in March despite endless VI Ramping, yet the press in relation to the CEBR report printed headlines saying "PROPERTY PRICES RISING" . Today too article after article says that until approvals double (many economists believe they need to get to 70000 before the market will bottom, last month BBA said they were at about 26000), prices will continue to fall, everyone knows approvals will not double so why SUCH DENIAL?

The press were the same with Rightmove Index which even the Director of Rightmove said with regards it rising was "more bad news than good, as sellers needed to reduce prices" . Miles Shipside, Director of Rightmove has been saying since January sellers need to reduce 25 - 30% from peak. However, Rightmove's Index was used even by the FT in an article about Moodys downgrading on "the assumption now is 40% falls", to try to prove property prices were going up.

Last week the UK was told it was going to take until at least 2032 for the British people to pay back the staggering debt this country has got in due to trying to support a hugely inflated property bubble. The government we are told will struggle to find the £220bn it needs to pay off this years debt.

It looks more and more likely that prices will fall 50% + , they have to, property trebled in a few short years and now there is much less money for lending .

If Brown goes, what would happen next?

The article about the BOE official last week who told Darling not to stop the property crash and said that even with property down 21% it was still 40% overvalued, said it would be better for the falls to happen sooner rather than later so that the market to adjust at sustainable levels.

I feel that until someone is willing to report this with some degree of honesty nothing is going to change.

I just can't understand how people can believe that things can ever return to 2007 lending levels and prices when THEY BROKE THE BANKS and the country. I can't believe the figures when I look at them, I fear for the future of the UK yet still we have to hear this rubbish about "green shoots" and "market bottoming".

[eric pebble]

I just can't understand how people can believe that things can ever return to 2007 lending levels and prices .....

Because they are still living in LALALAND....

They have NO concept of REALITY.....

They are as thick as PIGSH1T.

[bingobob777]

Chill Winston.

You're supposed to be happy they're falling, even more so with all this ramping going on.

[Leonard Hatred]

Well, I guess it's possible to try and talk up the market, but not possible to talk money into people's pockets. And seeing as houses cost money, the VIs have a bit of a problem

[eric pebble]

Well, I guess it's possible to try and talk up the market, but not possible to talk money into people's pockets. And seeing as houses cost money, the VIs have a bit of a problem

They're working on it though....... They will fight to the death. Mark my words.

[Dopamine]

Because they are still living in LALALAND....

They have NO concept of REALITY.....

They are as thick as PIGSH1T.

Superb.

cut and paste this to answer the majority of questions on this site about vendor, EA and media behaviour.

[eric pebble]

Superb.

cut and paste this to answer the majority of questions on this site about vendor, EA and media behaviour.

[jocohen]

its interesting how much effort estate agents have put into ramping up prices. The failure of this project must depress them terribly. the fact they fail to realise that unless they encourage the fall to realistic prices then they will fail as businesses very soon.

can you imagine how many letters and time must have been spent in this futile effort based on the assumption the fall is due to 'markets being talked down'.

It shows what amateurs many estate agents are not to know the difference between real business change is and what is hype.

[19 year mortgage 8itch]

I can never understand on here how you delude yourselves.

While I admit some house prices in certain area's have dropped, the fact of the matter is most places aren't for sale and haven't dropped 1p.

Take Kings Hill near Maidstone.

I'd sell my house at 20% off if I could buy a place there for 20% off. Why don't I do it then?

Because there aren't any houses in Kings Hill for sale at 20% off.

If you lot are happy to live in some manky flat of house on some rough estate then happy hunting.

You're up early, can't sleep?

[Umiapik]

No strange as it may seem I actually go to work.

Hi Sibley, not seen you on here for a while!

Seen any green shoots lately?

[porca misèria]

No strange as it may seem I actually go to work.

Shades of your fellow bull Hamish's .sig there

[Kate's Bush]

Sorry I know I have had a few rants this week but last month Nationwide announced a 0.9% rise one day before the Halifax announced a 1.9% drop for the same period but the press continued to say "Green Shoots Prices Rising".

Today we get Nationwide confirming the market is of course still falling and all we get is "that the rate of fall is slowing", and more nonsense about the market bottoming, even though articles contain paragraphs such as:

Month after month we have had to put up with the press ignoring the facts in every report .

CEBR said if mortgage approvals double prices would still fall 35% that is £300000 property £195000.

CEBR said if approvals didn't double property would fall 40% +.

British Bankers Association this week confirmed mortgage approvals fell in March despite endless VI Ramping, yet the press in relation to the CEBR report printed headlines saying "PROPERTY PRICES RISING" . Today too article after article says that until approvals double (many economists believe they need to get to 70000 before the market will bottom, last month BBA said they were at about 26000), prices will continue to fall, everyone knows approvals will not double so why SUCH DENIAL?

The press were the same with Rightmove Index which even the Director of Rightmove said with regards it rising was "more bad news than good, as sellers needed to reduce prices" . Miles Shipside, Director of Rightmove has been saying since January sellers need to reduce 25 - 30% from peak. However, Rightmove's Index was used even by the FT in an article about Moodys downgrading on "the assumption now is 40% falls", to try to prove property prices were going up.

Last week the UK was told it was going to take until at least 2032 for the British people to pay back the staggering debt this country has got in due to trying to support a hugely inflated property bubble. The government we are told will struggle to find the £220bn it needs to pay off this years debt.

It looks more and more likely that prices will fall 50% + , they have to, property trebled in a few short years and now there is much less money for lending .

If Brown goes, what would happen next?

The article about the BOE official last week who told Darling not to stop the property crash and said that even with property down 21% it was still 40% overvalued, said it would be better for the falls to happen sooner rather than later so that the market to adjust at sustainable levels.

I feel that until someone is willing to report this with some degree of honesty nothing is going to change.

I just can't understand how people can believe that things can ever return to 2007 lending levels and prices when THEY BROKE THE BANKS and the country. I can't believe the figures when I look at them, I fear for the future of the UK yet still we have to hear this rubbish about "green shoots" and "market bottoming".

Because there are an aweful lot of VI's out there.

The property market is a massive cash cow in a boom making millions directly for:

The Government

EA's

Solicitors

Banks and Building Societies

Builders

And indirectly for:

DIY Stores

Haberdasheries

Bathroom & Kitchen suppliers

and newspapers

and I'm sure both lists go on and on with the future of many of these solely dependant on a recovery in the housing market.

Just reinforces what a sham our economy has become built on LIAR LOANS and the delusion that a perceived value of a property actually equals hard cash.

The VI's will continue to ramp as their survival depends on a recovery NOW. They will be ground down over the coming months and thier numbers will dwindle as they adapt and diversify or die.

A return to the old order is impossible there is neither the will or the money.

Patience, patience

PROPERTY PRICES ARE NOT GOING UP!

Edit: Posted in middle of quote, its early

Edited May 1, 2009 by help?

[Boomer!]

fed up of the press talking up a falling market

The press ONLY want to sell papers, so they will put ANYTHING on the front page to help that.

That is why they are full of all this pig flu shlt, they make a headline telling people about the pig flu so people think they can learn more about it, so it sells papers and generates advertising money.

Same with house prices - the majority of people want house prices to go up, so if a headline says they are , people buy the paper to find out why and by how much.

Funnily house price rises are as non existant as pig flu...................only morons believe its true.

[Furby]

fed up of the press talking up a falling market

The press ONLY want to sell papers, so they will put ANYTHING on the front page to help that.

True - but with regard to house prices the press are VI due to the house related advertising revenue they get.

F

[Pytyr]

I can never understand on here how you delude yourselves.

While I admit some house prices in certain area's have dropped, the fact of the matter is most places aren't for sale and haven't dropped 1p.

Take Kings Hill near Maidstone.

I'd sell my house at 20% off if I could buy a place there for 20% off. Why don't I do it then?

Because there aren't any houses in Kings Hill for sale at 20% off.

If you lot are happy to live in some manky flat of house on some rough estate then happy hunting.

Can't find a postcode for Kings Mill. If you provide on we can look at just that little corner of Maidstone. As for the rest of it, looks like it's already past a 20% fall. Quick - sell up and buy befre it's too late.

Unless you're confusing asking prices with sold prices?

[moneyfornothing]

I can never understand on here how you delude yourselves.

While I admit some house prices in certain area's have dropped, the fact of the matter is most places aren't for sale and haven't dropped 1p.

Take Kings Hill near Maidstone.

I'd sell my house at 20% off if I could buy a place there for 20% off. Why don't I do it then?

Because there aren't any houses in Kings Hill for sale at 20% off.

If you lot are happy to live in some manky flat of house on some rough estate then happy hunting.

There is no crash ...lalalalala .... there is no crash... there can be no crash ... there will be no crash .... asdkj...dxdg...dfsdf...dribble, wibble wump..

YOU MISSED THE BOAT.. get over it !!

[Pytyr]

Can't find a postcode for Kings Mill. If you provide on we can look at just that little corner of Maidstone. As for the rest of it, looks like it's already past a 20% fall. Quick - sell up and buy befre it's too late.

Unless you're confusing asking prices with sold prices?

Sorry, my eyes are playing up! You mean this place, don't you Sibs?

Here you go. ME19.

Sales prices kind of up and down but mostly tracking down. Volumes almost non-existant.

Asking prices tracking down nicely, though. You're right about some areas not being as badly afected. The difference is that I think they are lagging behind, while you think they are about to rocket. Where I live it's the same story, price drops lagging behind the average but still falling.

Edited May 1, 2009 by Pytyr

[Guest AuntJess]

Because they are still living in LALALAND....

They have NO concept of REALITY.....

They are as thick as PIGSH1T.

As an old Lancashire saying goes... " They are daft the right road"

It suits 'em to believe that, as they desperately want to get those prices up. Clinging to this illusion of personal wealth, quiets their anxieties, so they can feel secure, IMO.

I could have put my foot thru' the telly when Bill Turnbull said the other morning - words to the effect of - more gloom as house prices dropped yay % this month.

Would he say that, I wonder, if he were talking about other essentials - like food or petrol? No he bluddy wouldn't. :angry:

Until the meejah drop this policy of catastrophising about house price 'corrections', we will still see die-hards hanging on to the notion, that THEIR house is worth more than it was last year, 'cos they want it so.

Edited May 1, 2009 by AuntJess

[Guest AuntJess]

I can never understand on here how you delude yourselves.

While I admit some house prices in certain area's have dropped, the fact of the matter is most places aren't for sale and haven't dropped 1p.

Take Kings Hill near Maidstone.

I'd sell my house at 20% off if I could buy a place there for 20% off. Why don't I do it then?

Because there aren't any houses in Kings Hill for sale at 20% off.

If you lot are happy to live in some manky flat of house on some rough estate then happy hunting.

Did you try a hair conditioner like I suggested? 'Cos if you did it ain't working.

Edited May 1, 2009 by AuntJess

[red]

I can never understand on here how you delude yourselves.

While I admit some house prices in certain area's have dropped, the fact of the matter is most places aren't for sale and haven't dropped 1p.

How many times do we have to explain to you, Sibbers - a property's 'value' can only be validated when it's actually sold. It's not a price dreamt up by its owner when it isn't for sale.

And it's us that are deluded...

[tim123]

I can never understand on here how you delude yourselves.

While I admit some house prices in certain area's have dropped, the fact of the matter is most places aren't for sale and haven't dropped 1p.

Take Kings Hill near Maidstone.

I'd sell my house at 20% off if I could buy a place there for 20% off. Why don't I do it then?

Because there aren't any houses in Kings Hill for sale at 20% off.

Sooner or later, someone will die or get divorced.

tim

[Brave New World]

I can never understand on here how you delude yourselves.

While I admit some house prices in certain area's have dropped, the fact of the matter is most places aren't for sale and haven't dropped 1p.

Take Kings Hill near Maidstone.

I'd sell my house at 20% off if I could buy a place there for 20% off. Why don't I do it then?

Because there aren't any houses in Kings Hill for sale at 20% off.

If you lot are happy to live in some manky flat of house on some rough estate then happy hunting.

Bit of a sweeping generalisation given that that is were many of you and your pwwoperty dreamers will end up over the next few years. It will be the canny HPC’ers who will be replacing the fools who brought in stupidly inflated times that will pay the price for our enlightened view of the market.

I am renting in Harrogate and it is great, check out property bee every couple of weeks and that tells me all I need to know that property is falling fast whether in a nice area or not.

Good quality houses that have been slashed 10-25% in the last 3-6 months are still not shifting.

Factor in sharp rises in IRs coming to us all in 2010 and it will rip the market apart.

Maybe you should advise your prospective buyers to check propertybee out?

And as declaring that as houses aren’t for sale it means that there isn’t a crash is beautiful EA speak.

Post written whilst signing Sibley’s going down like a Russian submarine, a Russian submarine, a Russian submarine.

Bit of a sweeping generalisation given that that is were

[non frog]

fed up of the press talking up a falling market

The press ONLY want to sell papers, so they will put ANYTHING on the front page to help that.

...................only morons believe its true.

lot of 'em though

The Sun 2,899,310

Daily Mirror 1,346,916

Daily Star 725,671

Daily Record 349,235

The Daily Mail 2,139,178

Daily Express 728,296

The Daily Telegraph 824,244

The Times 600,962

The Guardian 343,010

The Independent 200,242

Chris