Jump to content
House Price Crash Forum
Sign in to follow this  
interestrateripoff

Rightmove Triples Its Estimate For Housing Price Rises

Recommended Posts

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!

Share this post


Link to post
Share on other sites

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

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

Share this post


Link to post
Share on other sites

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.

Share this post


Link to post
Share on other sites

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

Share this post


Link to post
Share on other sites

what about the drop due to the heatwave in september. what heatwave. september is not over yet.

Glad I'm not the only one in the north west to wonder "What heatwave?".

Share this post


Link to post
Share on other sites

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?

Share this post


Link to post
Share on other sites

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.

Share this post


Link to post
Share on other sites

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.

Share this post


Link to post
Share on other sites

:)

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.

Share this post


Link to post
Share on other sites

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...

Share this post


Link to post
Share on other sites

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

Share this post


Link to post
Share on other sites

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.

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

Share this post


Link to post
Share on other sites

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

Share this post


Link to post
Share on other sites

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

Share this post


Link to post
Share on other sites

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

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • The Prime Minister stated that there were three Brexit options available to the UK:   209 members have voted

    1. 1. Which of the Prime Minister's options would you choose?


      • Leave with the negotiated deal
      • Remain
      • Leave with no deal

    Please sign in or register to vote in this poll. View topic


×

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.