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stripycat

Sunday Times - Property

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Market Special: Is the worst now over?

After a bad start to the year, there are now buyers out there for sellers who price their houses sensibly. Graham Norwood reveals why the housing market could be picking up again

http://www.timesonline.co.uk/newspaper/0,,...1769851,00.html

Also article on Secrets of selling in a buyers’ market. So they don't seem to be able to make up their mind what the markets doing ...

http://www.timesonline.co.uk/newspaper/0,,...1769750,00.html

Edited by stripycat

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Market Special: Is the worst now over?

After a bad start to the year, there are now buyers out there for sellers who price their houses sensibly. Graham Norwood reveals why the housing market could be picking up again

http://www.timesonline.co.uk/newspaper/0,,...1769851,00.html

Also article on Secrets of selling in a buyers’ market. So they don't seem to be able to make up their mind what the markets doing ...

http://www.timesonline.co.uk/newspaper/0,,...1769750,00.html

What gets me about these "worst is over" stories (there was one in the Metro earlier in the week )is that prior to these articles nobody would actually admit there was a slump in the market.

So we are expected to belive and article written by people who have talked ******** for the first 9 months of the year.

Just makes them look like idots.

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Guest pioneer31

Lazy journalism - clueless reporter goes to all the VI's to find out the latest on the property front

Result - misinformed tripe.

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Lazy in the extreme.

I'm not even sure the subject exists. (What kind of a name is Sherwood?)

“I had somewhere lined up, but I’m glad I didn’t go ahead because I’d have lost money. Now I sense prices are likely to rise again, so I’m taking the plunge. I don’t want to risk being priced out,” she says."

This contains two broad statements one to the effect she didn't buy and is pleased. The reason was given, prices had fallen in the last year.

The next statement just merely says she expects prices to go up again without even bothering to say on what basis.

Utter utter tripe, as you say, and barely worth reading.

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"After a bad start to the year, there are now buyers out there for sellers who price their houses sensibly. Graham Norwood reveals why the housing market could be picking up again"

Reveals why!

I love it.

The revelation is based on some bint not buying a house for a year then deciding to buy one. Well, that's me sold, clearly the actions of Sherwood, has ramifications for the entire UK housing market.

:lol::lol::lol:

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I think it depends what you read into "the worst is over". The article seems to be a bit of a mish mash of statistics about why prices will rise in the future, and the fact that asking prices have been cut so volumes of sales have gone up as a result (i.e. because prices have been cut, people are buying things again). Taking that last point on it's own, it seems to be implying that rate of sales was the problem and the way to resolve it is to lower prices. Taking the other points they seem to be suggesting that prices will rise. The two things seem to me to have nothing to do with each other, and the fact that asking prices have fallen isn't a reason to expect that they will rise again.

Seems like a bit of a muddled article to me.

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Unfortunately I think we are going to be in for a lot of these kind of articles in the immediate future.

"Green shoots of recovery"

"House prices to rise again by end of year/spring/autumn"

All these articles provide evidence that this crash is very much like the last time. And in that case, we will see these reports continuing for the next few years. Better get used to it!

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Market Special: Is the worst now over?

After a bad start to the year, there are now buyers out there for sellers who price their houses sensibly. Graham Norwood reveals why the housing market could be picking up again

http://www.timesonline.co.uk/newspaper/0,,...1769851,00.html

Also article on Secrets of selling in a buyers’ market. So they don't seem to be able to make up their mind what the markets doing ...

http://www.timesonline.co.uk/newspaper/0,,...1769750,00.html

The previous week they described the crash and the effects.... now this week this..

do you know.. ? I think its innevitable that it happens.. and a journalist has spent less time looking into this then an economonist..

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Personally I'd only take seriously reports of the views of institutions and firms that have money at stake with regard to predictions of house prices. Even then, they won't all be right by a long shot (they don't agree, so that follows logically). But journalists just stitching together random anectdotes and frothy arguments and then interviewing somebody who happens to be buying a house isn't worth much at all in my opinion. I'd say that sort of article doesn't even merit review on here.

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"Martin Ellis, chief economist at the Halifax, agrees. “Mortgage payments as a proportion of gross income for the average new buyer have dropped from 20% to 19%, bringing them back in line with the average for the past two decades.”

This is an interesting statistic. By new 'new buyer' do you think they mean FTB?

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"Martin Ellis, chief economist at the Halifax, agrees. “Mortgage payments as a proportion of gross income for the average new buyer have dropped from 20% to 19%, bringing them back in line with the average for the past two decades.”

This is an interesting statistic.  By new 'new buyer' do you think they mean FTB?

NOTE "Gross Income". He is rather convieniently overlooking that under Brown we get to keep significantly less of that gross income.

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Well that does it for me, with my 37 years of house market experiance at the sharp end, I've obviously called it all wrong.

This 31 yearold FTB'er nursery school teacher certainly has the "march" on me regards reading housing market cycles. I mean for christs sake she was at that most informed time of your life [16 year old] last time the market was in this classic part of the cycle.

Thats it, I'm going "Long" the housemarket...........phew I'm I glad I'm nearly halfway through my contracted letting period of 6 months with option to renew on a monthly basis........bloody good job somebody posted that informed article...................now wheres that list of Estate Agents telephone numbers

Edited by Catch22

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Article is load of old tosh of course but seem points worth mentioning.

1. The VIs seem very keen suddenly to say that the market is up in terms of buyers enquiries compared to the same month last year. As far as I remember the market fell off a cliff last June/July so the ' fact' that things are a little better now is meaningless. It dropped 40% or so last July so instead of being 40% down now it is only 35% down... wooopee !

2. Funny isn't it how now they admit the market was appalling last Spring /Winter - dont recall them saying so at the time !

3. Sipps - first time Ive ssen a figure given to thos eholding a SIPP - 85,000 apparently i.e about 1 in 700 people. How many of those have enough to buy a house with it ? especially if they are prudent and heed the advice to risk no more than 20% on any one assett category ? How many will be looking to buy over seas ? how many will want to put their pension into property with falling prices. SIPP is a red herring IMHO.

4. Funnily enough on the following page in a different article about selling in a buyers market the journo quotes lkatest RISC data showing that sales for August were down 18% on the same month from 2004 !! So what do we conclude ? slightly more people looking but far fewer actually buying.

Incidentally we have told two agents in very clear and strong terms to remove us from their mailing lists but still they persist in sending details out - I think they are trying to create the illusion that they have more buyers registered than they really do.

Dont belive the hype !

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Yep, you better believe it.

In the next 10 years house prices are going to triple again.

A 3 bed in Wandworth will cost 1.5 million, average salary 50k.

TTRTR is going to sell one of his houses, pay off the others and buy an island in the carribean.

We will be taking out 100 year mortgages, at 30 times salary, and leaving the debt in our wills to our kids.

Of course this won't matter, because we can just sell them to each other for ever escalating prices, so who cares.

Oh, and of course England are going to win the cricket on Monday.

Edited by BandWagon

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Newspapers must have in their charter of journalism to promote optimisim regardless of how absurd it might be in the current climate.

Look at the news on TV, they always end on a funny story - E.g. It could be the breakout of World War 3, but there will be a story on how a cute puppy managed to survive falling out of a plane etc...

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Lazy journalism - clueless reporter goes to all the VI's to find out the latest on the property front

Result - misinformed tripe.

Lazy journalists love doing property.........as you can churn out the same old stuff week after week............

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  • 338 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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