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moonriver

House Prices To Soar By 30%...front Page News...guess Which Paper?

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As you all guessed, Daily Express again!

http://www.thepaperboy.com/uk/front-pages.cfm

We are told in the article price increases are "very much good news", despite the fact we are later told that if prices increase, these borrowers have to pay more back. :rolleyes:

Note the quote from our JD.The way the article is laid out it, made me think at first (with surprise) that JD, had said it is a "very positive thing", but on second reading I realised that is not his actual quote,so what he actually did say could be taken out of context.

Surely articles like this are not going to help sell houses now, it will just encourage sellers to hang on for that huge 30% rise, that is not likely to come in the foreseeable future?

http://www.express.co.uk/news/property/397610/House-prices-to-soar-by-30-Experts-predict-average-value-will-hit-300-000

House prices to soar by 30%: Experts predict average value will hit £300,000

HOUSE prices are set to rocket thanks to a surge in new buyers helped on the property ladder by the Government, a report claims.

...Experts predict a 30 per cent rise over the next two years as home-hunters take advantage of the Help To Buy scheme.

It would send the price of an average home to £300,000 by the end of 2015 – a huge leap from the current figure of £233,000..

....Industry expert Dominik Lipnicki said the move was “very much good news”.

He added: “There is no doubt this will help to push up house prices.

“There is going to be a rise in house prices anyway but with more people now able to get on to the ladder this is set to rise even further.” He said the increase will come as a relief to “mortgage prisoners” struggling with negative equity.

The biggest issue we have is people who may have bought at the height of the market and have seen the value of their ­property decrease,” said Mr Lipnicki, director of financial advisers Your Mortgage Decisions.

“These ‘mortgage prisoners’ have not been able to re-mortgage their homes, but will be able to now. They can also look at their mortgage options.

“Any upward move in house prices is definitely good news for many ­people.”

...People with the five per cent deposit can buy a newly-built house worth up to £600,000 with a Treasury loan of up to 20 per cent of the value.

After five years, borrowers will pay a 1.75 per cent annual fee which will rise by one per cent above Retail Prices Index inflation every following year.

...The value of the loan is linked to the property’s price and if it increases, so does the amount the borrower has to pay back.

...Helen Adams, managing director of FirstRungNow.com, a website for first-time buyers said many people will now be able to get on to the property ­ladder thanks to Help To Buy. She said: “This will lead to more properties being sold and a slight increase in house prices over the next two years.

...But for first-time buyers, who really struggle with the costs of buying a property, this is a very positive thing.” Financial expert Jonathan Davis said the Help To Buy scheme will help sustain house prices.

However, he said the Government will have to start another scheme after it ends in three years to avoid the market subsiding.

He said: “The Help To Buy scheme will help sustain house prices at their current high level. But in order to continue they will have to bring in another scheme to prevent a crash.”

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Excellent news an increase of 30% so wages are going to go up then?

I can't wait until petrol is £3 a litre! I will feel so rich! :huh:

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30% looks very unlikely, given the fact that in the provinces prices are still at the bottom of the trough and show no signs of lift off.

Got to say that sentiment is on the side of the bulls for the first time, even the most pessimistic bear expects prices to move sideways at best now.. Also, the Tories last shout of re-election and a lift in GDP is for a house price mini-boom over the next two year, so they certainly aren't goint to try and stop it.

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Jonathan Davis did not say 'subsiding' to the journo. He said 'crashing'.

Edited by Killer Bunny

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Jonathan Davis did not say 'soaring' to the journo. He said 'rocketing for ever and ever.'

edited: got there in the end sigh

Edited by DabHand

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Jonathan Davis did not say 'subsiding' to the journo. He said 'crashing'.

Bit of a pisstake to substitute words which alter your fundamental comment without your consent.

Is this correct, the article is written by the Express weatherman?

He's on twitter, should he need to be quizzed:

https://twitter.com/ExpressNathan

Edited by cheeznbreed

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Jonathan Davis did not say 'subsiding' to the journo. He said 'crashing'.

I thought "subsiding" would of been an unusually mild word for JD to use in this context.

I agree with Cheeznbreed, does not seem right for a journo to substitute JD's actual words.

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30% looks very unlikely, given the fact that in the provinces prices are still at the bottom of the trough and show no signs of lift off.

Got to say that sentiment is on the side of the bulls for the first time, even the most pessimistic bear expects prices to move sideways at best now.. Also, the Tories last shout of re-election and a lift in GDP is for a house price mini-boom over the next two year, so they certainly aren't goint to try and stop it.

:lol: Yes, and volumes to continue their descent to the basement. This scheme may encourage people to market their house, increasing supply and helping to add fuel to the crash.

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I thought "subsiding" would of been an unusually mild word for JD to use in this context.

I agree with Cheeznbreed, does not seem right for a journo to substitute JD's actual words.

And IIRC, the report this article was based upon, was actually highly critical of house prices rising as a result of the HTB scheme.

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By any chance is the article written by Sarah O'Grady?

Is she constantly spouting this bullsh1t because both her and the parasitic husband are heavily into BTL or is her odious fat ba5tard boss Dickie Desmond ordering her to do so because of his?

I think the Daily Depress has overtaken the Sunday Sport in printing pure crap.

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30% looks very unlikely, given the fact that in the provinces prices are still at the bottom of the trough and show no signs of lift off.

Got to say that sentiment is on the side of the bulls for the first time, even the most pessimistic bear expects prices to move sideways at best now.. Also, the Tories last shout of re-election and a lift in GDP is for a house price mini-boom over the next two year, so they certainly aren't goint to try and stop it.

You seem to have optimism confused with pessimism again.

I expect house prices to fall by at least 30% during the next few years, would you call that optimistic or pessimistic?

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You seem to have optimism confused with pessimism again.

I expect house prices to fall by at least 30% during the next few years, would you call that optimistic or pessimistic?

Pessimistic...40% would be nearer the truth ;)

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By any chance is the article written by Sarah O'Grady?

Is she constantly spouting this bullsh1t because both her and the parasitic husband are heavily into BTL or is her odious fat ba5tard boss Dickie Desmond ordering her to do so because of his?

I'd have thought Peterborough would be fertile UKIP ground. Hopefully he'll get slung out at the next election.

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You seem to have optimism confused with pessimism again.

I expect house prices to fall by at least 30% during the next few years, would you call that optimistic or pessimistic?

I salute your never-failing consistency Bruce, wish my faith was as strong :(

I think after frigging funding for lending I'm going through a dark night of the soul.

Maybe I need to make a pilgrimage to Ireland to convince myself that house price crashes do really exist, someplace.

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I salute your never-failing consistency Bruce, wish my faith was as strong :(

I think after frigging funding for lending I'm going through a dark night of the soul.

Maybe I need to make a pilgrimage to Ireland to convince myself that house price crashes do really exist, someplace.

Funding for lending is to prevent prices from falling too fast and is necessary to keep the banks appearing solvent. Also, they can't allow prices to fall too far before an election and have hard working, but insolvent, families out on the street.

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If everyone who needs to buy a house in 10 years time needs a tax payer subsidy.....lets say its £60K,

How much tax extra is each and every taxpayer going to have to fork out JUST IN EXTRA TAX TO PAY FOR HOME BUYERS?..and they expect that with these tax rises, the buyers will be able to save for a deposit AND pay a much bigger mortgage.

NAH.

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Here's a desperate plea on the free ads. Bought the house for 320k at the peak in 2006 and now begging for 169k

http://www.gumtree.com/p/flats-houses/large-4-bedroom-bungalow-in-private-lane-overlooking-newcastle/1017555896

I bookmarked this house in late 2006 and it was offers over 225k and had been bid up to 265k and was going higher. So there was the lucky purchaser paying 320k and thinking they had caught the boat in time. Glad I didn't board that boat or climb that ladder.

Crings! That's a cautionary tale. Wish we saw some of those drops south of the Watford gap :)

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Crings! That's a cautionary tale. Wish we saw some of those drops south of the Watford gap :)

Don't worry, we will.

In the meantime, I've seen many 20% drops well south of the Watford Gap, give it another few years and I may be buying.

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  • 242 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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