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Oliver Sutton

RICS - Price growth grinds to a halt

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The headline price growth gauge slipped from +7% to +1% (suggesting prices were unchanged over the period), representing the softest reading since early 2013. Nevertheless, the national figure conceals diverging trends across parts of the UK. Indeed, house prices remain quite firmly on an upward trend in some areas, led by Northern Ireland, the West Midlands and the South West.

By way of contrast, prices continue to fall in London*, with the pace of decline broadly matching that of the previous three months. At the same time, the price balance for the South East of England fell further into negative territory, posting the weakest reading for this part of the country since 2011.

 

http://www.rics.org/Global/7._WEB_ July_2017_RICS_UK_Residential_Market_Survey_tp.pdf

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Just stop and think for a moment, how are those poor estate agents going to feed themselves, live mice a rats don't grow in trees.

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8 minutes ago, Habitationi Bulla said:

TPTB need to do something to force sellers, as they've done more than enough to force buyers.

You've no hope of them attempting to encourage sellers. What they'll more than likely do is try to prop the market up, anything to try to perpetuate the situation. 

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2 minutes ago, Blod said:

You've no hope of them attempting to encourage sellers. What they'll more than likely do is try to prop the market up, anything to try to perpetuate the situation. 

They already do that and its got us to where we are, any more props to get people to buy or to stop it falling and we will be in this position in a couple of years.

Edited by Habitationi Bulla

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43 minutes ago, BearlyBegun said:

BBC headline on this: Housing market lull 'spreads from London'

Mark Everett, based in Epsom in Surrey, said: "The market is desperately price sensitive and too much stock is unrealistically overpriced."

http://www.bbc.co.uk/news/business-40874731

lull....LOL

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2 hours ago, Habitationi Bulla said:

They already do that and its got us to where we are, any more props to get people to buy or to stop it falling and we will be in this position in a couple of years.

The current favoured prop is to get stamp duty for properties over £925k dropped. The Daily Telegraph is pushing hard for this and even ran it on their front page. Their problem is that it looks like they are trying to protect the wealthiest from this tax. Their solution is to pretend that if this tax was reduced on these properties it would help the elderly downsize and somehow FTBs.

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9 minutes ago, Blod said:

The current favoured prop is to get stamp duty for properties over £925k dropped. The Daily Telegraph is pushing hard for this and even ran it on their front page. Their problem is that it looks like they are trying to protect the wealthiest from this tax. Their solution is to pretend that if this tax was reduced on these properties it would help the elderly downsize and somehow FTBs.

That might be the way they try and spin it, but Labour would tear them apart .. just look like tax breaks for the rich at a time when if they were to make such a move they'd have to get money elsewhere i.e. workers

For me this is just noise from DT editors with a MP chum in Surrey whose had a few complaints by wealthy boomers that they have to pay tax on their unearned gains.

Edited by Habitationi Bulla

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We've gone from,....house prices to average £1M by 2030 to prices in london have slowed...to prices up north shooting up to...London lull spreading out....

the MSM are coordinating this as far as I can tell.

I think we can infer from this what the next message if going to be and what it means for the mega bubble.

 

balloon-pop-image.png

 

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4 hours ago, BearlyBegun said:

 

Mark Everett, based in Epsom in Surrey, said: "The market is desperately price sensitive and too much stock is unrealistically overpriced."

 

i have dealt with that lot before, the property developers friend. 

slick EA driving about in a focus rs , made my skin crawl :lol:

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1 hour ago, TheCountOfNowhere said:

We've gone from,....house prices to average £1M by 2030 to prices in london have slowed...to prices up north shooting up to...London lull spreading out....

the MSM are coordinating this as far as I can tell.

I think we can infer from this what the next message if going to be and what it means for the mega bubble.

 

balloon-pop-image.png

 

West mids where I live is still increasing... man will this crash ever come without IR rises. Prices here were silly 4 years ago and have increased about 20% since. I dispair 

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13 hours ago, Habitationi Bulla said:

That might be the way they try and spin it, but Labour would tear them apart .. just look like tax breaks for the rich at a time when if they were to make such a move they'd have to get money elsewhere i.e. workers

For me this is just noise from DT editors with a MP chum in Surrey whose had a few complaints by wealthy boomers that they have to pay tax on their unearned gains.

Let's hope so. Their campaign may appear to have gained traction when in fact with the public it hasn't.This could be due to it being many in the media having been affected. They would feel this tax more because they are predominately based in the SE/London and are part of the 'metropolitan elite'.

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From the RICS Report:  "Looking ahead, near term price expectations continue to signal a flat trend over the coming three months at the headline level"

You only have to look at their graph for price expectations to see that in fact this has never happened :blink:

Anytime in the past that expectations have been at zero, they are either in the process of swinging up or down...

I think we all know which way they are heading right now :)

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