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grizzly bear

House Prices Go Up...

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It is b*llocks!

Its the anti shortage....prices are up when theres a shortage, and they are up when there isnt.

or the shortage issue has little bearing on the price.

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http://business.timesonline.co.uk/tol/business/industry_sectors/construction_and_property/article7142355.ece

From The Times
June 2, 2010
House price rises ‘unsustainable’ as lending falls
Grainne Gilmore
Net mortgage lending rose by less than expected in April, renewing fears that house prices may be on course for a “double dip”.

Its because mortgage activity is slumping.

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It's from the RICS survey which gathers it's data from EAs so assume it's asking prices?

Supply has been outpacing demand for more than 3 months now.

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http://news.aol.co.uk/house-prices-rise-after-hips-axed/article/20100614193033535936518

Would have thought that lots more houses on the market would push prices down not up - can someone explain - unless they are talking about asking prices?

RICS = surveyors = ESTATE AGENTS = VESTED INTERESTS = DON'T BELIEVE A WORD!

PUFTB is probably right that it is asking prices, though the May Halifax and Nationwide figures were at odds with each other. VI spin is such that they are happy to extrapolate a thesis from one set of figures like this. If the figures were negative for May, they would be spinning that the 3 month or the YOY figures were the important ones!

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GMTV main news reported this morning that house prices had gone up due to the abolishment of HIPS.

Talk about spin. :rolleyes:

Due to the fact HIPS was only abolished so recently, they can't be referring to sold prices, only asking prices.

But they also said that RICS reckons supply had increased by nearly 50%.

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This was discussed at length when the abolition of HIPs was imminent. Now you can 'fly a kite' for the cost of an EPC (£60 ish), I think common consent was that it would cause a slight rise in average asking prices.

As mentioned, mortgage lending is still low so I doubt it'll follow through to sale prices. The article says HIP abolition would only cause about 15% rise in 'for sales.' And the rest!

Edited by deflation

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It's from the RICS survey which gathers it's data from EAs so assume it's asking prices?

Supply has been outpacing demand for more than 3 months now.

Question - is the sort of person for whom the cost of an HIP prevents them placing their home on the market the type who thinks:

A ) "Why, the housing market is floundering, I'll ask a realistic price for mine in order to achieve a sale in this difficult market"

B ) "I'll take the highest valuation, add ten percent and wait a few days for it to sell at asking price or above cos the Express says prices are on the rise"

Having said that, the more supply the better.

BTW I thought supply had been outstripping demand since Jan?

Edited by NEO72

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GMTV main news reported this morning that house prices had gone up due to the abolishment of HIPS.

Talk about spin. rolleyes.gif

Due to the fact HIPS was only abolished so recently, they can't be referring to sold prices, only asking prices.

But they also said that RICS reckons supply had increased by nearly 50%.

f*ck me - this is A level stats level - on the subject of inorganic casuality or some such other

why do they employ retards to present TV opinion? (see previous thread on the Halifax adverts...)

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http://business.timesonline.co.uk/tol/business/industry_sectors/construction_and_property/article7142355.ece

From The Times
June 2, 2010
House price rises ‘unsustainable’ as lending falls
Grainne Gilmore
Net mortgage lending rose by less than expected in April, renewing fears that house prices may be on course for a “double dip”.

Its because mortgage activity is slumping.

So we have a massive increase in supply (obviously thanks to the withdrawal of HIPS!?) coinciding with a continuing slump in mortgage lending?! and prices are rising?!

Do they really think everyone is thick enough to fall for this?! Sadly I expect the answer is yes and I predict a suitable frontpage from the Express by the end of the week.

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Most of the population still haven't quite cottoned on to the fact that there's no sensible reason for high prices, so there will still be some people willing and able to pay them, and sellers see that and won't drop unless they simply have no alternative. We've had far too much support in the past for making sure they do have an alternative, and there doesn't seem to be much sign of any willingness to do anything about that. Supply and demand doesn't seem to be at all relevent as long as there are still some people prepared to do everything, no matter what the cost, to buy a house, any house, at any price.

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http://news.aol.co.uk/house-prices-rise-after-hips-axed/article/20100614193033535936518

Would have thought that lots more houses on the market would push prices down not up - can someone explain - unless they are talking about asking prices?

The article is quite clear its a RICS survey. More surveyors are seeing a rise in asking prices than are seeing falls. That is all. The headline is misleading because that is how the press works.

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In terms of where these opinions are coming from, bear in mind that the public face of RICS is usually 'spokesman' Jeremy Leaf, who also happens to run his own North London estate agents.

Edited by Cherubium

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f*ck me - this is A level stats level - on the subject of inorganic casuality or some such other

why do they employ retards to present TV opinion? (see previous thread on the Halifax adverts...)

Because their target audience is retards and so they can relate to them?

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  • 153 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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