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Realistbear

Lloyds Survey Uncovers Gloom In Uk Property Market

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http://uk.finance.yahoo.com/news/lloyds-survey-uncovers-gloom-in-uk-property-market-reuters_molt-3ef00fa3c3ba.html?x=0

.Lloyds survey uncovers gloom in UK property market

14:31, Friday 1 October 2010
LONDON (
Reuters
) - Almost half of real estate professionals expect no broad improvement in Britain's depressed property market before next spring, a Lloyds Banking Group (LSE: LLOY.L - news) survey found.

If they think its gloomy now they haven't seen anything yet. This party is just getting re-started and its got a loooooooooooooooooooooooooooooooooooooooooooooooooooooooooooong way to go yet.

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Just another in a long line of "gloom" articles tha have been released by all recently (DailyExpress excepted). What we want to see is some real DISASTER news as HPC.co.uk is gettng a bit dull again.

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http://uk.finance.yahoo.com/news/lloyds-survey-uncovers-gloom-in-uk-property-market-reuters_molt-3ef00fa3c3ba.html?x=0

.Lloyds survey uncovers gloom in UK property market

14:31, Friday 1 October 2010
LONDON (
Reuters
) - Almost half of real estate professionals expect no broad improvement in Britain's depressed property market before next spring, a Lloyds Banking Group (LSE: LLOY.L - news) survey found.

If they think its gloomy now they haven't seen anything yet. This party is just getting re-started and its got a loooooooooooooooooooooooooooooooooooooooooooooooooooooooooooong way to go yet.

The thing is, in one breath you say 'Looooooooog' way and then you say in another post 'I'll be looking to buy after Christmas'.

Do you deliberately post contradictory statements to keep us on our toes? :unsure:

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I believe the housing market has a long way to fall also but am looking to buy post xmas also, paradoxical yes but not entirely crazy. we may possibly have a depresssed market for many years but with interest rates low, now would be a good time to lock in a longterm fixed interest mortgage. Also within a few months buyers will be offering large discount to sell, those that see the writing on the wall or are already desperate. Plus if you hedge your position and buy something that increases in value during a house price depression you can ofset any losses on house price falls that way. Plus I just can't wait around for three years while inflation eats away at savings and with a food crisis on the horizon i want to get my taters and carrots in the ground by next spring

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The thing is, in one breath you say 'Looooooooog' way and then you say in another post 'I'll be looking to buy after Christmas'.

Do you deliberately post contradictory statements to keep us on our toes? :unsure:

I think it is because in RB's area the market is crashing fast and hard already.

BTW, we have to keep that in mind (I forget it too frequently) : National averages move slowly, obviously, but regional markets move much faster.

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I believe the housing market has a long way to fall also but am looking to buy post xmas also, paradoxical yes but not entirely crazy. we may possibly have a depresssed market for many years but with interest rates low, now would be a good time to lock in a longterm fixed interest mortgage. Also within a few months buyers will be offering large discount to sell, those that see the writing on the wall or are already desperate. Plus if you hedge your position and buy something that increases in value during a house price depression you can ofset any losses on house price falls that way. Plus I just can't wait around for three years while inflation eats away at savings and with a food crisis on the horizon i want to get my taters and carrots in the ground by next spring

Yes, I am considering that too. Unfortunately my area is not crashing yet. But it it were, I would consider a 10 years fixed. And I'll think about it in Jan-March 2011, depending on my local market, and on fixed rates deals.

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The thing is, in one breath you say 'Looooooooog' way and then you say in another post 'I'll be looking to buy after Christmas'.

Do you deliberately post contradictory statements to keep us on our toes? :unsure:

I am not willing to wait much after Crimbo as we are renting a small gaff and need some space. Prices around here are down about 15% so far since Spring so another 15% down by Crimbo will do nicely. That will be about 40% off the 2007 top and not bad. May drop another 10-20% from there but I am getting past caring TBH.

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I am not willing to wait much after Crimbo as we are renting a small gaff and need some space. Prices around here are down about 15% so far since Spring so another 15% down by Crimbo will do nicely. That will be about 40% off the 2007 top and not bad. May drop another 10-20% from there but I am getting past caring TBH.

rent a nicer place?

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I think it is because in RB's area the market is crashing fast and hard already.

BTW, we have to keep that in mind (I forget it too frequently) : National averages move slowly, obviously, but regional markets move much faster.

Yep, I agree and we do tend to forget that but I know where RB is looking and I still see the area as way overpriced. I'd be surprised if another 30% didn't come of the area in the next 2 years.

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rent a nicer place?

I am about 5 miles East of Brighton. Rentals are very high--about £1100pm for a naff bungalow.

As this area had perhaps among the most unsustainable property prices in the country (it had the biggest boom outside London) it is suffering the consequences today. I am monitoring a number of properties all priced in the very high £200's at the beginnng of the year, most of which are now down to around 250k. I will get serious when I find something nice for about £225k or a good 75k off the Spring prices. That will be 30% in a year which is "slightly" more than the Haliwide are admitting to.

My area is heavy on retired fiolks on fixed incomes so I am thinking they will not hit a very deep floor before bottoming out. The average 3 bed was about £350 at the peak in 2007 and I expect to get in at about £225 which represents a nice overall drop of around 40%. They may drop by 50% or even 60% but then again it might be greedy to expect more than a reasonable discount of 40% from peak.

Elsewhere in the country, up North for example, houses will probably drop by 50-60% from top. But here in the SE I am only expecting about 40 to 50% down. Not bad really. Sorry to seem so bullish. :(

Edited by Realistbear

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But here in the SE I am only expecting about 40 to 50% down. Not bad really. Sorry to seem so bullish. :(

...if the city takes any more hits or banking business is forced overseas it may be quite bullish.... :rolleyes:

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http://uk.finance.yahoo.com/news/lloyds-survey-uncovers-gloom-in-uk-property-market-reuters_molt-3ef00fa3c3ba.html?x=0

.Lloyds survey uncovers gloom in UK property market

14:31, Friday 1 October 2010
LONDON (
Reuters
) - Almost half of real estate professionals expect no broad improvement in Britain's depressed property market before next spring, a Lloyds Banking Group (LSE: LLOY.L - news) survey found.

If they think its gloomy now they haven't seen anything yet. This party is just getting re-started and its got a loooooooooooooooooooooooooooooooooooooooooooooooooooooooooooong way to go yet.

Almost half of real estate professionals expect no broad improvement in Britain's depressed property market before next spring

Would indicate that more than half expect a broad improvement or at least no worsening. Interesting. Before May the headline would have been 'majority of real estate professionals expect improved property maket before next spring'. I wonder why we have this change in reporting sentement? ;)

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Almost half of real estate professionals expect no broad improvement in Britain's depressed property market before next spring

Would indicate that more than half expect a broad improvement or at least no worsening. Interesting. Before May the headline would have been 'majority of real estate professionals expect improved property maket before next spring'. I wonder why we have this change in reporting sentement? ;)

I was going to point that out. Maybe it's because never before so many of the surveyed a expecting a depressed Market? House prices always rise after all, everyone knows that.

Let's hope lloyds is nice and pessimistic next week.

Edited by Pent Up

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I envy all of you who are seeing price drops in your areas and target markets.

Swansea is different. Swansea is special. Swansea is completely deluded.

:(

Edit:

Just to add, very little has come on the market this week so it looks like the sellers are drying up.

Yes, since the HIPs went a flood of houses came on the market but I suppose I just have to sit and watch and wait now.

Edited by The Masked Tulip

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  • 259 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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