Frizzers Posted June 10, 2015 Share Posted June 10, 2015 Headline is better than the content, but still ... Quote Link to comment Share on other sites More sharing options...
Frugal Git Posted June 10, 2015 Share Posted June 10, 2015 *Immediately googles for mountain top photo* Quote Link to comment Share on other sites More sharing options...
Frizzers Posted June 10, 2015 Author Share Posted June 10, 2015 *Immediately googles for mountain top photo* Haha. It's hard to say which will give you the bigger horn. Actually probably the photo Quote Link to comment Share on other sites More sharing options...
shindigger Posted June 10, 2015 Share Posted June 10, 2015 Supply up in SP8 since election. Lots of reductions. ******** article. Quote Link to comment Share on other sites More sharing options...
canbuywontbuy Posted June 10, 2015 Share Posted June 10, 2015 link to online article >> http://www.telegraph.co.uk/finance/property/house-prices/11666634/Housing-market-grinds-to-a-halt-as-sales-hit-lowest-level-since-1978.html Quote Link to comment Share on other sites More sharing options...
mewParadigm Posted June 10, 2015 Share Posted June 10, 2015 Why isn't the sub-title "Annual house price growth could drop to 4.6% over the next five years..." as that would get you to exactly the same number? That is the kind of middle-of-the-road figure that they all seem to give out and is almost always well off, given the boom-bust nature of the market. Quote Link to comment Share on other sites More sharing options...
canbuywontbuy Posted June 10, 2015 Share Posted June 10, 2015 (edited) The Royal Institution of Chartered Surveyors (Rics) warns of an "acute shortage of supply" as Britain's ageing population of home owners moves less frequently and focuses instead on helping their children on to the housing ladder. Each surveyor had just 52 for-sale properties on the books in May, the organisation found, the lowest monthly figure registered in nearly four decades. Surveyors, EAs, white goods sellers, DIY shops, et al - best get used to the situation. Nobody's buying because the country's running out of fools. And specifically to surveyors and EAs - your livelihoods are at risk if you do not subscribe to the idea of affordable housing. Edited June 10, 2015 by canbuywontbuy Quote Link to comment Share on other sites More sharing options...
Si1 Posted June 10, 2015 Share Posted June 10, 2015 Seems a very confused article Does it actually say anything? Quote Link to comment Share on other sites More sharing options...
FreeTrader Posted June 10, 2015 Share Posted June 10, 2015 The national sales and stocks charts from the RICS survey: Quote Link to comment Share on other sites More sharing options...
renting til I die Posted June 10, 2015 Share Posted June 10, 2015 Surveyors, EAs, white goods sellers, DIY shops, et al - best get used to the situation. Nobody's buying because the country's running out of fools. And specifically to surveyors and EAs - your livelihoods are at risk if you do not subscribe to the idea of affordable housing. Could easily change that to, no-one is selling because who wants to sell a guaranteed cash machine! Quote Link to comment Share on other sites More sharing options...
renting til I die Posted June 10, 2015 Share Posted June 10, 2015 It makes financial sense that people hang onto their own properties because of low interest rates - if they need to move they can raise financing from their existing property." See. Don't sell, just buy yourself another cash machine! Quote Link to comment Share on other sites More sharing options...
Venger Posted June 11, 2015 Share Posted June 11, 2015 (edited) I strip to my underwear and do the Frank Skinner dance, but it hasn't caused HPC, yet. Maybe I need to do it infront of the most expensive house around here. Just like Mr.Hoodie (Mead), Telegraph reporting prices will still rise in a sickly market of low inventory on market (let's not have Excuse-Fest when prices fall, with boomers sat on £Trillions in equity). And... Broadbent has suggested mortgage growth no.1 concern (not values/prices at all), and dismissed debt as being an issue (so many own outright / equity rich). So sickly market continuing, or nearing hpc? Carney's housing status is unknown... perhaps relocated to new rental before HPC (possibly bought according to others)... his wife is related to serious UK wealth as I remember it... some of that name selling up their Scottish estates... yep her sister married to this Baron... 'fabulously wealthy family/dynasty'. June 11, 2014 Deputy BoE Governor, Broadbent."Andy [Haldane] is the master of the colourful phrase but on this I disagree with him," said Broadbent, who instead identified risks in the UK's housing market as the greatest threat to the country's economic outlook. He went on to say that the Bank will not directly intervene on house prices, but is instead only interested in "the rate of growth of mortgages, which is today very low".http://www.cityam.co...ace-mp-grilling 2 October 2014Ben Broadbent agrees that interest rate rises will cause problems for "a certain number of borrowers" but is clearly of the view that the concern has been overdone.He points out that the total amount of debt in the economy is actually lower than it was five years ago."I would lean against the view I think that any rise in interest rates would cause calamity for a very large number of households. I think that's an exaggeration of where we are at the moment," he told me.Broadbent doesn't think higher interest rates will lead to a significant rise in the number of repossessions. Edited June 11, 2015 by Venger Quote Link to comment Share on other sites More sharing options...
Venger Posted June 11, 2015 Share Posted June 11, 2015 I know the idea that there's a massive BTL boom going on is denied a lot on HPC.... instead preferring to think of BTLers selling up... if they are then many times a house property sells to another BTLer. Seen that many times over, year after year. 11 June 2015Buy-to-let surge leads to smallest number of homes on sale since 1978: Estate agents put up average of just 52 properties a branch in MayThe number of homes for sale has plunged to its lowest level since records began in 1978 – as a buy-to-let boom takes an increasing amount of property off the market.UK estate agents put up for sale just 52 properties per branch in May, according to the Royal Institution of Chartered Surveyors.This is the lowest figure since its survey began 37 years ago, and marks a significant drop from 60 properties just one year ago.http://www.dailymail.co.uk/news/article-3119201/Buy-let-surge-leads-smallest-number-homes-sale-1978.html Quote Link to comment Share on other sites More sharing options...
Ash4781 Posted June 11, 2015 Share Posted June 11, 2015 If there is also an increase in the proportion of cash transactions where will the mortgage demand come from as there is not much to buy? Presumably mortgage rates will continue to fall which will put a strain on the smaller building socities. And for the money supply - deflation ? Quote Link to comment Share on other sites More sharing options...
spyguy Posted June 11, 2015 Share Posted June 11, 2015 The national sales and stocks charts from the RICS survey: Back to blowing off tramps in the parks for EAs then. At least for the ones in London. The rest of the country never gave it up. Quote Link to comment Share on other sites More sharing options...
spyguy Posted June 11, 2015 Share Posted June 11, 2015 The national sales and stocks charts from the RICS survey: I was having a conversation about how few houses were transacting i my home town (North). The figures were bad 2 years ago; they are even worse now. A stupid woman EA barged here way in, saying 'Houses are selling!' Ive sold loads this month, people I work with have sold loads. . . . Some have completed. Quote Link to comment Share on other sites More sharing options...
winkie Posted June 11, 2015 Share Posted June 11, 2015 Not moving because there is nothing suitable to buy that is worth the money they are asking.... Not selling but renting out and moving and renting waiting for something that is suitable that is worth the money they are asking... Quote Link to comment Share on other sites More sharing options...
interestrateripoff Posted June 11, 2015 Share Posted June 11, 2015 UK house prices set to rise further, sellers absent - RICS http://uk.reuters.com/article/2015/06/11/uk-britain-houseprices-rics-idUKKBN0OQ2SM20150611 Reuters headline. The market must be awash with buyers. Quote Link to comment Share on other sites More sharing options...
200p Posted June 11, 2015 Share Posted June 11, 2015 Ohh I know the answer Miss, Miss! More Help To Buy! Quote Link to comment Share on other sites More sharing options...
canbuywontbuy Posted June 11, 2015 Share Posted June 11, 2015 The whole point of this article (sponsored by RICS) is to issue the tired-out "better by now before prices rise XX%" line. Haha. Yeah, right - houses aren't selling. I know, let's put the prices up. Why don't journos just look at RightMove and see all the reductions? Quote Link to comment Share on other sites More sharing options...
Guest_growlers_* Posted June 11, 2015 Share Posted June 11, 2015 (edited) So, transactions / volumes are down, this is due to a lack of supply (new build and existing), and this will translate into higher prices because demand is still there. I suppose that is logically defensible, survey does show new enquiries are up and instructions are down. Ppl aren't selling, which is why there is so much shit on the market. Good that market is recognised as broken but is this a hpc positive development? It would be if reversed (I.e. vendors up and enquiries down) surely? Edited June 11, 2015 by growlers Quote Link to comment Share on other sites More sharing options...
Si1 Posted June 11, 2015 Share Posted June 11, 2015 So, transactions / volumes are down, this is due to a lack of supply (new build and existing), and this will translate into higher prices because demand is still there. I suppose that is logically defensible, survey does show new enquiries are up and instructions are down. Ppl aren't selling, which is why there is so much shit on the market. Good that market is recognised as broken but is this a hpc positive development? It would be if reversed (I.e. vendors up and enquiries down) surely? Demand isn't there, in so far as people can't get mortgages no matter how much they want to overpay for a house Quote Link to comment Share on other sites More sharing options...
crashmonitor Posted June 11, 2015 Share Posted June 11, 2015 I'm guessing people can't move. Prices still slightly shy of the August 2007 peak pretty much means many purchasers haven't got the equity to. Add in all property sold since about 2003 and there will be little gain outside London, by then Brown had done his worst and the destruction of the economy was inevitable. So 50% of all housing stock with insufficient equity gains to move or at least not the psychological incentive. I guess folk don't like selling out at a loss either or merely break even after a decade of pouring money into a money pit with new kitchens. bathrooms, windows. Jeeze houses have been the Mother of all dead money this last decade. Quote Link to comment Share on other sites More sharing options...
Fully Detached Posted June 11, 2015 Share Posted June 11, 2015 The whole point of this article (sponsored by RICS) is to issue the tired-out "better by now before prices rise XX%" line. Haha. Yeah, right - houses aren't selling. I know, let's put the prices up. Why don't journos just look at RightMove and see all the reductions? I must admit for a front page piece it does read like the journo was getting a tuggie from the RICS bloke. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted June 11, 2015 Share Posted June 11, 2015 Why isn't the sub-title "Annual house price growth could drop to 4.6% over the next five years..." as that would get you to exactly the same number? Because.....the bloke that wrote it has a massive mortgage and 6 Buy Toilets ? Quote Link to comment Share on other sites More sharing options...
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