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cashinmattress

House Prices To Go Up By A Third In Next Five Years

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House prices will rise 5.5% by the end of this year and accelerate by nearly 30% over the next five years, Chesterton Humberts has predicted.

In its mid-year forecast, the firm says that house price growth in prime central London will average 8% each year between now and 2017.

Nick Barnes, head of Chesterton Humberts’ research department, said: “There has been a notable uptick in market activity so far this year, in no small measure due to the greater availability of record low mortgage deals.

“We have seen green shoots flatter to deceive before. However, this time around the level of consumer confidence appears more robust, and if favourable mortgage finance remains available, the long-awaited recovery may at last be sustained.

“What we need in tandem with this upswing, however, is an increase in housing supply to mitigate any potential price bubble.”

Chesterton Humberts is predicting that East Anglia will outperform Greater London for the first time since August 2005, enjoying average increases of 6.3% per annum between 2013 and 2017, compared to London’s 6.2%.

Despite the South continuing to outperform the rest of the country, Chesterton Humberts also projects that total growth in the other regions will all improve, with house prices in East Midlands and Yorkshire & Humber increasing by over 25% followed by West Midlands (19.6%), North-West (18.3%) and North-East (11.8%).

This dude, Mr. Barnes, seems to be ignorant of the fact that nowhere outside of a few select boroughs of London is doing well.

I wonder what fundamental changes in the UK and world economy this guy see's that everybody else doesn't; America is still on the downturn of a massive depression! The Eurozone is perched precariously on the edge of a fiscal abyss! The UK has exhausted all options for stabality in it's banking system, outwith full scale 'bail-in' stealing of deposits.

When pigs fly...comes to mind. Still, Murdoch's rags need headlines like this to cheer up the chavs, no matter how out to lunch they are.

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Says in the blurb....

a highly respected expert in international property research

Um. Ok. He wrote that bit himself undoubtedly.

What exactly is a 'property research' expert, and what do they do? Look at indices and make assumptions?

If you want advice, this website is the leading analysis tool of the market in the UK and beyond...not some dude.

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bubble

I like how even estate agent propagandists feel they need to throw this word in to garner credibility nowadays. Acknowledging the existence of property bubbles is the first step to acknowledging that we are in one right now.

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...enjoying average increases of 6.3% per annum...

Mmmm, I love the smell of inflation before breakfast time! I am looking forwards to enjoying those tax increases too, not to mention having a really enjoyable time paying more to the supermarkets for basic foostuffs! Great fun!

... nowhere outside of a few select boroughs of London is doing well.

Doing well eh? So you secretly agree with him, becoming more expensive = doing well, becoming more affordable = doing badly?

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Mmmm, I love the smell of inflation before breakfast time! I am looking forwards to enjoying those tax increases too, not to mention having a really enjoyable time paying more to the supermarkets for basic foostuffs! Great fun!

Doing well eh? So you secretly agree with him, becoming more expensive = doing well, becoming more affordable = doing badly?

I don't live in London, and these 'select boroughs' of London are cloud cuckoo land; home to failed despots, drug dealers, energy oligarchs, gun runners, slave traders, money launderers, and Simon Cowell's etc...

Edited by cashinmattress

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Nick%20%20Barnes%20web.jpg

Two of his colleagues, including one from their Sevenoaks office talks a bit more sense. Sadly one of them messes it up in the final paragraph, encouraging sellers to hold out for higher prices in the future.

The market will decide anyway, and that might depend on what happens elsewhere including US bond yields increasing and mortgage rates over there rising. Imperial-Leather type EAs who have little experiences with the problems affecting ever more younger people with affordability for housing aren't going to influence anything.

Getting the price right...

Thursday, June 13, 2013

James Grillo, director of Chesterton Humberts' Country Homes Department adds: "Sellers will need to be realistic in terms of price for a while yet as we are far from the boom of pre-2007 years.

http://www.thisisken...tail/story.html

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[

Two of his colleagues, including one from their Sevenoaks office talks a bit more sense. Sadly one of them messes it up in the final paragraph, encouraging sellers to hold out for higher prices in the future.

That won't get the economy moving again.......surely lower prices now and more transactions/turnover can only do that....the future is a long way a way ahead, they will therefore only be stuck living in the past. ;)

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  • 245 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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