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The Masked Tulip

Rise In Prices? Get Ready For A Fall

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Those who have been trying to sell their house and have been slashing the price, will be puzzled to learn that house prices actually rose in June - albeit by only 0.1 per cent.

This Land Registry figure means that prices are now around the same levels as they were in the summer of 2006.But the increase is relevant only to those lucky sellers who have found a buyer, and there are far fewer of them than there were four years ago.

London has been driving the increases, with a bit of help from Wales, recovering from sharp falls. But in much of the country the market is static or falling - the public-sectordependent North East market is down by another 1.3 per cent.

Buyers are cautious, lenders are timid and the supply of houses for sale keeps on rising, with 900,000 on the market.

'This means that over the next year 1.7million more will come on the market, making a total of 2.6million homes that will be marketed over the next 12 months,' says Henry Pryor, of www.housingexpert.net. 'Of these just 925,000 - or 35 per cent - will find a buyer. There are just a handful of - often cash - buyers taking their pick of the growing selection of overpriced property.'

Read more: http://www.dailymail.co.uk/property/article-1299672/Market-watch-Rise-prices-Get-ready-fall.html?ito=feeds-newsxml#ixzz0vTAEbSHk

Edited by The Masked Tulip

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But the increase is relevant only to those lucky sellers who have found a buyer greater fool, and there are far fewer of them than there were four years ago.

Corrected for them.

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Excellent part here:

Housing Benefit

Landlords have some reason to feel aggrieved with the Government: the Tory proposal to end the absurd practice of paying housing benefit to tenants rather than to landlords hasn't happened.

But from October next year housing benefit is to be reduced to 30 per cent of local rents rather than the median of local rents as at present.

This came about following scandalous payouts in Central London to house asylum seekers in multi-million-pound houses, including those highlighted by The Mail on Sunday.

The National Landlords Association is fighting the cut in housing benefit, pointing out that 47 per cent of tenancies are below the maximum local housing allowance available. Er...but that means more than half of landlords are doing pretty well and getting the maximum.

A little belt-tightening by them doesn't seem so unreasonable.

Go Mail ! :) Surprising!

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Woo, nice article Daily Mail!

"Upon reflection, I do not see any long term value in our paper supporting house prices when it is clear that our national mania lie at the root of our terrible indebtedness. From now on I will instruct my staff to give a more balanced view and to avoid the sort of hype my colleagues at the Express indulge in which is not in the public interest" Belsan Whistles, Editor

Fictional quote but perhaps what is behind the DMs new tack?

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"Upon reflection, I do not see any long term value in our paper supporting house prices when it is clear that our national mania lie at the root of our terrible indebtedness. From now on I will instruct my staff to give a more balanced view and to avoid the sort of hype my colleagues at the Express indulge in which is not in the public interest" Belsan Whistles, Editor

Fictional quote but perhaps what is behind the DMs new tack?

more like the DM has had to choose between two of its core messages: "bash the immigrants" and "support house prices". For now "bash the immigrants" has the upper hand, but will need to see more evidence before I'm convinced they've completely abandoned the "house prices" message.

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the Daily hate posting a sensible, albeit outdated, article about the Housing Market...

What next? The world has been turned upside-down

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Corrected for them.

AAARGH, this mentality that you're a 'fool' to buy a house that goes down in value makes me nuts.It perpetuates the myth that property is a commodity to speculate on.

Beyond property speculators and TV property porn, most people buy houses because they want somewhere to live. They move because they change jobs, have more kids, got sick of flatsharing etc.

If something is going to make your life better and you can afford to pay for it, why not have it? Nobody buys cars, clothes or anything else based on how much the price will rise.

And back to the article, it seems spot on to me. Great to see something so level headed in the mainstream media.

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"Upon reflection, I do not see any long term value in our paper supporting house prices when it is clear that our national mania lie at the root of our terrible indebtedness. From now on I will instruct my staff to give a more balanced view and to avoid the sort of hype my colleagues at the Express indulge in which is not in the public interest" Belsan Whistles, Editor

Fictional quote but perhaps what is behind the DMs new tack?

The article is written by the Property Editor of the Mail on Sunday so not a junior hack.

Might be a change of tack by the Mail re houses.

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AAARGH, this mentality that you're a 'fool' to buy a house that goes down in value makes me nuts.It perpetuates the myth that property is a commodity to speculate on.

Beyond property speculators and TV property porn, most people buy houses because they want somewhere to live. They move because they change jobs, have more kids, got sick of flatsharing etc.

If something is going to make your life better and you can afford to pay for it, why not have it? Nobody buys cars, clothes or anything else based on how much the price will rise.

And back to the article, it seems spot on to me. Great to see something so level headed in the mainstream media.

AAARGH, this mentality that you absolutely MUST rent your home from the bank...

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AAARGH, this mentality that you're a 'fool' to buy a house that goes down in value makes me nuts.It perpetuates the myth that property is a commodity to speculate on.

Maybe so, but if you're in a position to be able wait - why not do so ?

Better to buy after prices have fallen than before, surely ? You end up with a similar house for less money, or a better house for the same money.

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AAARGH, this mentality that you're a 'fool' to buy a house that goes down in value makes me nuts.It perpetuates the myth that property is a commodity to speculate on.

Beyond property speculators and TV property porn, most people buy houses because they want somewhere to live. They move because they change jobs, have more kids, got sick of flatsharing etc.

If something is going to make your life better and you can afford to pay for it, why not have it? Nobody buys cars, clothes or anything else based on how much the price will rise.

And back to the article, it seems spot on to me. Great to see something so level headed in the mainstream media.

Good point. There will be buyers all the way down by definition. It doesn't necessarily make them foolish if they are aware of the facts and can afford it.

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The article is written by the Property Editor of the Mail on Sunday so not a junior hack.

Might be a change of tack by the Mail re houses.

That is indeed interesting, and very good news. He even got that HBs go to landlords, and that they have had too much already! :o Unbelievable. Too good to be true.

I just hope he won't be kicked out for not following the real editorial line. :lol:

Edited by Tired of Waiting

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I actually think that all the red arrows in the comments below their property ramping articles of recent months has got through to them.

I know they collate this info and that it is then discussed in editorial meetings, so I was told, so IMPO I guess they have realised that most of their readers are opposed to high house prices and want a decline or crash in prices.

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Maybe so, but if you're in a position to be able wait - why not do so ?

Better to buy after prices have fallen than before, surely ? You end up with a similar house for less money, or a better house for the same money.

Absolutely (I've been house hunting for two years, so I might just be a master of this myself!)

But it ain't a lot of use if you're in a 1 bed flat and the wife's up the duff :)

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I actually think that all the red arrows in the comments below their property ramping articles of recent months has got through to them.

I know they collate this info and that it is then discussed in editorial meetings, so I was told, so IMPO I guess they have realised that most of their readers are opposed to high house prices and want a decline or crash in prices.

Yes, I have noticed that in the past few months (weeks?) the comments (and voted ratings) in these news sites have grown increasingly in line with our Forum's views re. HPs. And with hundreds of votes in favour of them! Amazing.

I just want to be a little cautious, holding my happiness back a little, in case the people who write comments and vote for them is not a good sample of the general population. It would be really great news if we confirm that "most of their readers are opposed to high house prices", or even better: most of the population, via some poll.

70% of the population owns a property. Well, actually 70% of the population live in houses owned by the family. The children don't actually own these properties. That is important.

But anyway, I still believe that the majority of property owners will be against a fall in property prices. The moderate amongst them (more than half?) may prefer a stabilisation, and some bulls may even prefer raises, and a minority would prefer price falls. My guess.

.

Edited by Tired of Waiting

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  • 244 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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