sooperlids Posted July 5, 2009 Share Posted July 5, 2009 Was in a Ea's in the high street this morning. Had a long chat- guy is a proper EA.basically TWo EA's already gone in high street. Nobody came in or out for the 30 minutes I was in there, and only one telephone call from a mate. As I said in an earlier post today, the expensive places are fast coming on to the market now, its flatlining. How anyone could possibly think there is a resurgence is totally and utterly beyond me I notice you are from Letchworth, which estate agents have gone? I haven't noticed? Quote Link to comment Share on other sites More sharing options...
spivT Posted July 5, 2009 Share Posted July 5, 2009 Base rates will rise next year for sure but by how much, I'd say they could reach 2% or so.Fixed rate mortgages could rise a little more, they are currently around 6%. The base rate rise will do some damage as it will directly affect SVRs and trackers as its those on the aforementioned who have been saved by the government from repossession with the historically low base rate of 0.5%. Even if base rates do go to 2% next year, and that's assuming there will be significant recovery and won't be a double dip after govt. intervention/stimulus wears off, then surely the spread between that and the lenders SVR will narrow, and even mortgages that track at 2.5% above the BoEBR still look cheap with the BoEBR at 0.5%-2.0%. I don't put much emphasis on rising interest rates as a necessity to cool the market. I think the economic situation and the timescale required to change sentiment is enough to put a dampener on the greenshoots of hpi. If house prices do take off again, it really will be working against the fundamentals and how we believe from history how they should react. But as far as UK pwoperty is concerned....the force is strong with this one. So the rampers may well succeed in operation; 'Leave our 2007 house prices alone' Quote Link to comment Share on other sites More sharing options...
Guest KingCharles1st Posted July 5, 2009 Share Posted July 5, 2009 I notice you are from Letchworth, which estate agents have gone? I haven't noticed? Hi Sooperlids Sorry, my bad, I am currently renting in Buntingford. Epicentre of North Herts Country Dwelling Uber Rich Banking and Farming Vermin Quote Link to comment Share on other sites More sharing options...
sooperlids Posted July 5, 2009 Share Posted July 5, 2009 Hi SooperlidsSorry, my bad, I am currently renting in Buntingford. Epicentre of North Herts Country Dwelling Uber Rich Banking and Farming Vermin Ah cheers, got my hopes up for a moment. There are a few here I would very much like to see go out of business. Everything below the 3% threshold that is (almost) sensibly priced seems to be selling here. Must learn to be patient their time will come. Quote Link to comment Share on other sites More sharing options...
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