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pipllman

Rics: An Uncomfortable Truth: House Prices Continue To Rise....

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http://www.rics.org/uk/news/news-insight/press-releases/house-price-growth-gathers-pace-as-market-conditions-tighten/

headlines...

Acceleration in national house price growth was reinforced by the continued imbalance between falling new instructions to sell and rising buyer demand, according to the August 2015 RICS UK Residential Market Survey.

1930s_houses_1_.jpg

  • Shortage of housing stock drives prices higher
  • House prices set to rise by 6% in 2015
  • New buyer inquiries continue to build at a solid rate

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Quelle surprise.... House prices to rise say estate agents.

Despite there being nothing worth buying.

I was in the super market yesterday and the only bananas they had left were rotten...I didnt buy them...someone desperate might have done though.

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Despite there being nothing worth buying.

I was in the super market yesterday and the only bananas they had left were rotten...I didnt buy them...someone desperate might have done though.

You've missed out there - a quick respray, inject a bit of water and they'll be back on the market at a 30% higher price next week...

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Whomever came up witht he headline "an uncomfortable truth" should be ashamed.

It's not uncomfortable, it's down right disgusting.

Exactly, I'm not remotely uncomfortable, I'm very relaxed about it.

a) I don't believe VI indices

B) The further they rise the further they'll fall

c) The BTL sector is about to be devastated by tax changes, which will flood the market with flats and cause the biggest crash in history

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^ From the RICS link above


The imbalance between demand and supply

No mention in the article about increasing levels of credit which presumably there must be to some extent for prices to be increasing (that's hidden in the misleading word "demand"). If prices are going up they won't all be cash buyers with few negotiating skills.

Edited by billybong

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In the markets I monitor, its not that prices are falling or rising - to be honest, you could prove either (slightly).

Its the fact there are so few transactions and that has been the case since 2003ish.

There is not a normal market.

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^ From the RICS link above

No mention in the article about increasing levels of credit which presumably there must be to some extent for prices to be increasing (that's hidden in the misleading word "demand"). If prices are going up they won't all be cash buyers with few negotiating skills.

I'm sure these must be the only people buying in my area, I can't believe that mortgage valuations can possibly agree with vendor valuations.

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I'm sure these must be the only people buying in my area, I can't believe that mortgage valuations can possibly agree with vendor valuations.

Well I know someone just paid 20k over asking (and well over last similar sale) with mortgage and just waved through by the bank so I think they are becoming a bit more relaxed to gain market share.

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Well I know someone just paid 20k over asking (and well over last similar sale) with mortgage and just waved through by the bank so I think they are becoming a bit more relaxed to gain market share.

more comedy gold

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Well I know someone just paid 20k over asking (and well over last similar sale) with mortgage and just waved through by the bank so I think they are becoming a bit more relaxed to gain market share.

I keep hearing this -- that mortgage lending is actually becoming more relaxed - is this true?

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http://www.rtpi.org.uk/briefing-room/rtpi-blog/what%E2%80%99s-missing-from-the-house-price-debate/

RTPI talks about the housing problem being supply and demand - another writer extolling the virtues of higher prices and why this is a problem and why it got to this point. Of course, with profits under-written by the tax payer builders are more than happy to build more, having sat on their hands with permissions for years. Houses being too damn expensive and developers having overpaid for land.

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I keep hearing this -- that mortgage lending is actually becoming more relaxed - is this true?

It's mental if so

Cr#p banks competing with each other for the cr#p bank of the year award.

This is why the boe and fed are so keen to start raising rates

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