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Mapatasy

Demand for UK property fell more than 7% last year and... house prices fell 3.3%

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52 minutes ago, Mapatasy said:

http://www.cityam.com/279211/demand-uk-property-fell-more-than-seven-per-cent-last-year

"Figures from estate agent Haart showed demand for homes fell 7.4 per cent in the year to December"

"The figures also showed house prices fell 3.3 per cent in the year to December"

Any predictions for this year?

I would say:

Demand down by 15%, Price down by 5%.

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All boils down to three things:........Ready......Willing......Able.

Will not buy if ....ready but not willing.....willing but not able......able but not ready.....;)

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Don't worry, prices still going up....

"However, there remains a severe lack of homes on the market, and as a result of this I expect we see UK price growth of between three and five per cent, and a more modest one to three per cent in London."

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11 minutes ago, TonyJ said:

Strange, I can remember throughout the property recession in the early 90s that year after year the news on the radio reported predictions of 4% price growth per year, even when the property market was on its knees. I remember realising at the time that it seemed to be estate agents' or surveyors' default 'prediction' to fight reality. 

At least this time you can document and evidence for the next generation!

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22 minutes ago, TonyJ said:

Strange, I can remember throughout the property recession in the early 90s that year after year the news on the radio reported predictions of 4% price growth per year, even when the property market was on its knees. I remember realising at the time that it seemed to be estate agents' or surveyors' default 'prediction' to fight reality. 

I remember that. It was at the same time as Norman Lamont was prattling on about "green shoots".

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same as the propaganda throughout the 08-09 bust, lots of bllshit about how great things were then a year later once we're done they start calling it "the great recession" out of nowhere

 

 

Edited by thewig

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same way these crypto bulls keep zooming out to a weekly chart on BTCUSD and saying we're still in a bull market

despite the 50% drop the other week

 

as always, perception is reality in my humblest

 

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UK mortgage approvals have fallen to a five year low, according to the BBA.

united-kingdom-mortgage-applications.png

The number of loan approvals for house purchase in the United Kingdom fell to 36.115 thousand in December 2017 from a revised 39.007 thousand in the previous month and below market expectations of 39.7 thousand. It was the lowest level since April 2013. Mortgage Applications in the United Kingdom averaged 51608.82 Units from 1997 until 2017, reaching an all time high of 93397 Units in March of 2002 and a record low of 17083 Units in November of 2008.

 

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1 hour ago, zugzwang said:

UK mortgage approvals have fallen to a five year low, according to the BBA.

united-kingdom-mortgage-applications.png

The number of loan approvals for house purchase in the United Kingdom fell to 36.115 thousand in December 2017 from a revised 39.007 thousand in the previous month and below market expectations of 39.7 thousand. It was the lowest level since April 2013. Mortgage Applications in the United Kingdom averaged 51608.82 Units from 1997 until 2017, reaching an all time high of 93397 Units in March of 2002 and a record low of 17083 Units in November of 2008.

 

http://www.cityam.com/279453/uk-mortgage-approvals-fell-four-year-low-december

Same report in cityam, this  reflects the wider sentiment in the market!

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  • 407 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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