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Rightmove Triples Its Estimate For Housing Price Rises

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http://www.theguardian.com/politics/2013/sep/16/rightmove-triples-estimate-house-price-increase

A leading estate agent has tripled its forecast for house price rises in 2013, stoking fears of a destabilising house price bubble.

Online estate agent Rightmove has raised its 2013 house price forecast for the third time this year to more than double the rate of inflation. The chain expects the average property price to increase by 6% this year, up from the 4% it predicted just two months ago. At the start of the year it predicted prices would rise by 2%.

On Wednesday the Bank of England's financial policy committee will meet to discuss the possibility of a property bubble, and what remedial measures can be taken.

The Royal Institution of Chartered Surveyors (Rics), which represents surveyors and estate agents, has called on the committee to cap annual house price growth at 5% a year.

Today's message from the VI's once more is:

BUY NOW!

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If one we'd predicted another week of relentless house price propaganda.... :rolleyes:

If they were doing this with shares they'd be arrested.

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When sellers read this do they add the 6% right away? Self fulfilling prediction and all that.

I suspect the 'boom times are back' conjecture is based on a couple of people coming through the door for the first time in months.

There are probably still a lot of foreign buyers in London and still a lot of remortgaging going on - but doubt there is much depth nationally to it.

Most people are broke. Costs have never been higher. Interest rates can only rise from where they are now. What can't happen, won't happen.

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Most people are broke. Costs have never been higher. Interest rates can only rise from where they are now. What can't happen, won't happen.

The canteen in my place of work, whose till always has a large amount of cash at the end of every week, has seen a large increase in the number of staff who will 'pop up' when it's quiet to ask if they could "borrow a couple of hundred quid until after the weekend". Coincidentally most pop up around the end of the month. These are people living in £300k + houses with 2 wages, new cars, foreign holidays, ponies for the kids etc etc - yet hanging by a thread.

Edited by LiveinHope

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The canteen in my place of work, whose till always has a large amount of cash at the end of every week, has seen a large increase in the number of staff who will 'pop up' when it's quiet to ask if they could "borrow a couple of hundred quid until after the weekend". Coincidentally most pop up around the end of the month. These are people living in £300k + houses with 2 wages, new cars, foreign holidays, ponies for the kids etc etc - yet hanging by a thread.

Is work happy to supply these loans from the canteen till? Or is someone turning a blind eye until the inevitable happens when someone can't pay back the money on Monday and the till is down by several hundred?

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Is work happy to supply these loans from the canteen till? Or is someone turning a blind eye until the inevitable happens when someone can't pay back the money on Monday and the till is down by several hundred?

:)

Slippery slope, small trickle was turning to a flood. My office is next to the canteen - amazing what you learn.

A blind eye was being turned.

I pointed out the likely inevitable outcome last week as people who were visiting once or twice a year were starting to pay a visit every month

The loans stopped as of last Friday I think - it will be interesting to watch.

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They can predict all they like.

In the last recession the VIs predicted rises each year along with their headlines in the papers. Year after year after year they were wrong.

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:)

Slippery slope, small trickle was turning to a flood. My office is next to the canteen - amazing what you learn.

A blind eye was being turned.

I pointed out the likely inevitable outcome last week as people who were visiting once or twice a year were starting to pay a visit every month

The loans stopped as of last Friday I think - it will be interesting to watch.

Won't be interesting at all, just more grist to the Wonga.

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The only people I know of buying at the moment are doing so with inheritance money and seem quite willing to pay over the odds (presumably cos it's not their money so to speak), and will be doing so without a mortgage. However the people over the road with an overpriced house for sale for 2 years show no sign of being sensible. After 18 months they reduced by 50k however it's still at least 50k too expensive for what it is and needs doing. Catching a falling knife etc...

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Won't be interesting at all, just more grist to the Wonga.

Most of the people asking for a 'couple of hundred' are nowhere near poverty and earn more than me and certainly spend more than me - I have never used Wonga.

Edited by LiveinHope

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I'm sure you haven't (no sarcasm implied)

Example: Someone who now regularly asks for a loan returned from a family holiday to Accapulco just two months ago and got given a personalised number plate for their birthday in March. Their combined total family net income must be ~ £40k.

I have never used Wonga

Edited by LiveinHope

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Example: Someone who now regularly asks for a loan returned from a family holiday to Accapulco just two months ago and got given a personalised number plate for their birthday in March. Their combined total family net income must be ~ £40k.

I have never used Wonga

Ffs, now they can't get free loans from work they'll go to wonga if they really need it and you won't see it.

Similarities with food banks? Of course free food is popular. Everyone loves a free lunch.

Edited by 7 Year Itch

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Ffs, now they can't get free loans from work they'll go to wonga if they really need it and you won't see it.

Should I shed a tear ?

Their lifestyle and financial acumen are why I didn't buy into the housing market or have shiny stuff - but, if only I had realised I could have gone to Wonga

Can't afford the new school uniform ? don't go to Accapulco might be a start.

Apologies if I am misinterpreting you.

We are not talking about people who have nothing.

Edited by LiveinHope

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  • 406 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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