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R M : Sellers Are Losing Their Optimism As They Face Up To Reality

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http://www.bloomberg.com/news/2011-01-31/britons-less-optimistic-about-u-k-house-prices-rightmove-says.html

Britons Less Optimistic on House-Price Gains as Spending Cuts Curb Economy
By Scott "Scotty" Hamilton - Jan 31, 2011 12:01 AM GMT
The number of Britons who expect house prices to rise this year decreased in the last three months as concerns about the economy mounted, Rightmove Plc said, citing a survey.
About 24 percent of 28,401 U.K. consumers surveyed this month said prices will be higher in a year
, the operator of Britain’s biggest property website said in a report released in London today. That compares with a result of 27 percent in October and 53 percent a year earlier..../

That 24% must be among the more ignorant classes I suspect. Express readers and VIs who are trained in the positive thinking religion.

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The problem is that we have no idea who they asked.

For many years, I did not have a clue as to how much my house was valued at, still not to certain. But if you do not intend to move, have no children yet in the house buying stage of life, what interest do you have in house prices?

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The problem is that we have no idea who they asked.

For many years, I did not have a clue as to how much my house was valued at, still not to certain. But if you do not intend to move, have no children yet in the house buying stage of life, what interest do you have in house prices?

The survey was advertised on their website and emailed to those who are registered to receive rightmoves emails.

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The ONLY driving force in any market is sentiment.

Hmmm, not so sure on this one. There are a lot of muppets out there who are still keen to buy a house at six times their salary, but are only being prevented by the banks' revised lending policies. That's why the banks are being blamed more for FTBs not getting on the ladder than greedy vendors

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It is taking a very long time for the British to accept the economic reality that the housing pyramid scheme is now finished and the pool of fresh suckers is virtually exhausted.

I feel for anyone who is now trapped at the bottom of this pyramid as there are no doubt a lot of youngster who were egged on by family and friends to buy into the dream of 'houses only ever go up', 'you cannot go wrong with bricks and mortar', 'buy a house you cannot afford - it will pay dividends in the long run.'

If the government doesn't step back up and take on the role of 'sucker of last resort' then we should see some nice falls this year and hopefully the next, and the one after that too.

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  • 312 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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