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Zoopla Warns Labour Could Undermine House Prices

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According to the CEO of Zoopla reported in the Yorkshire Post:

  • Prices rising an average 11% per year over the past 5 years is a good thing;
  • It is the result of government initiatives which were hard-won;
  • A Miliband win could reverse this;
  • It would also damage the prospects for first time buyers.

<http://www.yorkshirepost.co.uk/business/business-news/a-miliband-government-would-reverse-housing-recovery-warns-zoopla-1-7211870>

If reversing the recovery means average prices fall 11% every year for 5 years, then that would be interesting.

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If reversing the recovery means average prices fall 11% every year for 5 years, then that would be interesting.

Minor pedantry: after an 11% rise, a 10% drop restores the original price.

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No, Zoopla was never a Daily Mail company. The connection is that the Daily Mail had some property website operations that were acquired by Zoopla in return for Zoopla equity, in a move that was billed as a merger of more-or-less equals. All part of a surprisingly-successful effort to create something with the scale to break the Rightmove monopoly.

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According to the CEO of Zoopla reported in the Yorkshire Post:

  • Prices rising an average 11% per year over the past 5 years is a good thing;
  • It is the result of government initiatives which were hard-won;
  • A Miliband win could reverse this;
  • It would also damage the prospects for first time buyers.

<http://www.yorkshirepost.co.uk/business/business-news/a-miliband-government-would-reverse-housing-recovery-warns-zoopla-1-7211870>

If reversing the recovery means average prices fall 11% every year for 5 years, then that would be interesting.

Government initiatives which were hard won. Is someone admitting to bringing pressure to bear on the government to prop up the housing market with taxpayers money?

The company claimed that some of these hard-won gains could be reversed under a Labour-led government and, in particular, damage the prospects for first-time buyers.

A spokesman for Zoopla said: “It seems likely that a Miliband win in May would have a negative impact on the UK housing market in the short to medium term.

“The Tories have paved the way for considerable strides in the property recovery, but the Labour proposals for a punitive tax on homes and restrictions on some of the first-time buyer support systems would create uncertainty and could well pull the rug out from under the feet of recovery and dampen market confidence.”

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Voting Labour then.

See sig. It's been there at least a year now.

For prices to fall, the UK governbankment have to lose control of the levers/lose credibility.

For some unfathomable reason, the world still sees the UK as "good for it" with this printing ponzi clown in office.

Nothing else will cause it. Its all about rates. Its all people fear, all they understand.

And the repayment hikes will be very real, and very hard to bear.

This means having to offer more to get away our debt, and rates going up, beyond the immediate control of Carney or Osborne or Balls.

Labour don't want lower prices any more than the Tories do, but there's a MUCH higher likelihood that that's what will happen if they win.

As long as Ed Balls is ordering a new leather faced office chair on May 8th, i'm happy.

Edited by shindigger

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RICS spokesman, on Sky News, was saying that political uncertainty is causing upward pressure on house prices. In the VI world, if they see downward pressure they report the opposite.

Edited by Bruce Banner

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RICS spokesman, on Sky News, was saying that political uncertainty is causing upward pressure on house prices. In the VI world, if they see downward pressure they report the opposite.

Whoa! So rics say upward pressure, presumably as a safe haven or prior to new property purchase taxes, but Tory VIs say downward pressure for entirely political reasons?

Edited by Si1

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Whoa! So rics say upward pressure, presumably as a safe haven or prior to new property purchase taxes, but Tory VIs say downward pressure for entirely political reasons?

Tory VIs are warning that prices will fall if Labour win the election......... "Vote Tory or house prices will fall".

RICS are reporting upward pressure now, which is what they say when sales are flagging..... "Buy now before you're priced out".

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House prices coming down apparently "damage the prospects of first time buyers".

How do people earn a living writing this shit?

The only way it damages FTB's is by stopping their parents houses increasing so they can pass money on

A FTB having to pay higher rent because housing as gone up , with savings rates giving them no return if they put it into as ISA ETC gains ZERO benefit from houses increasing in value at 1% let alone 11% !!

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All of this doom about Labour trashing house prices, although I would love it to happen, solely resides on the premise that Labour will actually honour their manifesto "promises", after all we all know what value we hold on the promises of the average politician, I read these articles and just see " This is what could happen if lying politicians didn't lie" , like this is the prize you could have won...and I have to remind you all again that:

"Manifesto Pledges are Not Subject to Legitimate Expectation"

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All of this doom about Labour trashing house prices, although I would love it to happen, solely resides on the premise that Labour will actually honour their manifesto "promises", after all we all know what value we hold on the promises of the average politician, I read these articles and just see " This is what could happen if lying politicians didn't lie" , like this is the prize you could have won...and I have to remind you all again that:

"Manifesto Pledges are Not Subject to Legitimate Expectation"

Which is why I shall be voting for the man (Farage), not the plan, but if the Tory "Vote UKIP get Miliband" mantra is correct, I shan't lose any sleep over it.

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What does Zoopla care what prices are? Do they charge a percentage?

11% rises each year are a disaster - doesn't Zoopla make money when people sell houses? If they're too expensive, surely that means no sales?

The economic logic of this country continues to escape me.

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House prices coming down apparently "damage the prospects of first time buyers".

How do people earn a living writing this shit?

Woman on the news recently said "we need house prices going up so that FTB`ers can buy" !!!

The HPI meme is deeply ingrained, otherwise intelligent people trot out it`s mantras even although part of their brain knows they are talking absolute shit. The program has malfunctioned folks, the fallout from this one will be big. Vote Labour and buy popcorn :lol:

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All of this doom about Labour trashing house prices, although I would love it to happen, solely resides on the premise that Labour will actually honour their manifesto "promises", after all we all know what value we hold on the promises of the average politician, I read these articles and just see " This is what could happen if lying politicians didn't lie" , like this is the prize you could have won...and I have to remind you all again that:

"Manifesto Pledges are Not Subject to Legitimate Expectation"

Yep, at this point Miliband will say and do anything to get a sniff at the NO. 10 keyring, but hopefully a very hung parliament and a Grexit will scupper their HPI dreams.

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