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Realistbear

20% Willing To Pay More Than Asking Price

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http://uk.news.yahoo.com/04022006/344/owne...price-rise.html

Classic spin for a Saturday morning:

Saturday February 4, 12:37 AM

The number of people expecting house prices to rise has hit an 18-month high as the property market continues to show signs of strengthening,
a recent survey has revealed
.
Around 55% of people expect prices to increase during 2006, the highest figure since June 2004 and above the 46% of people who thought prices would rise in January last year, according to Yorkshire Bank.
At the same time one in five people said they would be prepared to offer more than a property's asking price to secure somewhere they really liked.
Sellers are also feeling buoyant, with 16% saying they would be unwilling to accept offers that were below their asking price.
Gary Lumby, Yorkshire Bank's head of retail, said: "Buyers are starting 2006 in a more positive mood than last year, when there seemed to be a lot more uncertainty regarding where the housing market was going.
"The market has been showing some encouraging signs of growth in the last few months.
House prices have been rising, albeit modestly, and the number of mortgage approvals is up.
"This more positive outlook is being supported by
expectations of a further cut in interest rates
in the next few months."

Reality?

1. What recent survey? Bank employees or local EAs?

2. Only 1 in 5 prepared to pay more than asking? This means 80% of people realise the market is going down!!!

3. No one is suggesting IR are going anywhere except up.

4. The market has not been showing any signs of growth in the last few months--most surveys including Nationwide and Hometrack are showing prices falling in MOST areas of the country.

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The number of people expecting house prices to rise has hit an 18-month high as the property market continues to show signs of strengthening, a recent survey has revealed.

That is excellent news IMHO. Confidence is returning to the market.

Reality?

1. What recent survey? Bank employees or local EAs?

Let's see- `Reality?`. Oh yes it was done by the BMRB. The British Market Research Bureau. Are you also accusing those of lies and bias and spin too ?

Who would you believe ? Do you believe anyone at all or do you mistrust everyone and everything ? What a strange world some on here inhabit, a world where everyone is telling lies and everyone is stupid. Quite scary.

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That is excellent news IMHO. Confidence is returning to the market.

Why? Please explain... in a way that stands up to at least a little scrutiny... please?

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Guest X-QUORK

Let's de-spin that article shall we:

The number of people expecting house prices to rise has hit an 18-month high as the property market continues to show signs of strengthening, a recent survey (funded and spun by a Vested Interest) has revealed.

Around 55% of people expect prices to increase during 2006, the highest figure since June 2004 and above the 46% of people who thought prices would rise in January last year, according to VI, Yorkshire Bank.

At the same time a minority of 20% of people said they would be prepared to offer more than a property's asking price to secure somewhere they really liked. Sellers are also feeling buoyant, with a tiny minority of 16% saying they would be unwilling to accept offers that were below their asking price, leaving 84% who would.

Gary Lumby, Yorkshire Bank's head of retail and spin, said: "Buyers are starting 2006 in a more positive mood than last year, when there seemed to be a lot more uncertainty regarding where the housing market was going.

"The market has been showing some encouraging signs of growth in the last few months. House prices in Scotland and Northern Ireland have been rising,albeit modestly, whilst they are falling dramatically in the rest of the country, and the number of idiots MEWing is up.

"This more positive outlook is being supported by desperate hopes of a further cut in interest rates in the next few months, even though anyone with an IQ higher than their boot size knows this is unlikely."

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The BBC go further by running the headline Link

First-time buyers 'may overpay'

Which is even more bizarre considering we are currently at an historically low for numbers of first time buyers...

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Why? Please explain... in a way that stands up to at least a little scrutiny... please?

Of course. Double bubble. Two houses increasing in value. Downsize in 6 months to one house. Double bubble. All IMHO of course.

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Of course. Double bubble. Two houses increasing in value. Downsize in 6 months to one house. Double bubble. All IMHO of course.

That's no explanation! :rolleyes:

In what way is the potential prospect of rising prices good?

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That's no explanation! :rolleyes:

In what way is the potential prospect of rising prices good?

Rising prices ? Do you mean good for you or good for me ?

I can't possibly comment for you, but for me, it's good.

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Rising prices ? Do you mean good for you or good for me ?

I can't possibly comment for you, but for me, it's good.

But you live in a society! I'm not talking about whether this is good for me or you personally for God's sake!

Clue: it helps to look at the bigger picture...

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Indeed. Me, me, me. Who should I be looking out for ? You, you, you ?

Do be carful now. Wouldnt want you to get savagely beaten up or mugged by some poverty-stricken yoof who thinks our society does sod-all for the have-nots. :ph34r:

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How about - us us us?

Us, us us ? What have you done for me ?

I'm afraid that kind of thinking went out of the window 20+ years ago. You can rage against the machine, but you won't win. It's like peeing in the wind. Its not so much `Im alright Jack` more `If you cant beat them join them` You will be ground down, you will join the `sheeple` masses - you will. Inevitably you will. Just accept it and enjoy, it's all part of growing up.

Do be carful now. Wouldnt want you to get savagely beaten up or mugged by some poverty-stricken yoof who thinks our society does sod-all for the have-nots. :ph34r:

I wouldn't want you too either. Are you somehow immune to this potential beating up by a cloak of invincible self-righteousness ?

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calm down you lot, this was a survey of HOMEOWNERS. what do you expect them to say ?!

Owners expecting house price rise

The number of people expecting house prices to rise has hit an 18-month high as the property market continues to show signs of strengthening, a recent survey has revealed.

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http://uk.news.yahoo.com/04022006/344/owne...price-rise.html

2. Only 1 in 5 prepared to pay more than asking? This means 80% of people realise the market is going down!!!

Ah, but you could 'spin' this around the other way....

If you get 5 viewings you can expect to get an offer ABOVE the asking price! That statistic would sound quite good to a seller!

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I'm afraid that kind of thinking went out of the window 20+ years ago. You can rage against the machine, but you won't win. It's like peeing in the wind. Its not so much `Im alright Jack` more `If you cant beat them join them` You will be ground down, you will join the `sheeple` masses - you will. Inevitably you will. Just accept it and enjoy, it's all part of growing up.

I wouldn't want you too either. Are you somehow immune to this potential beating up by a cloak of invincible self-righteousness ?

Not at all. But I'm a great believer in karma.

I suppose what I am getting at is the gulf between the rich and the poor is ever-widening and we have enough examples around the World to see what happens when one strata of society is constantly shafted.

House prices are obsenely overpriced at the moment. I just dont think this is healthy for any of us.

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Guest muttley

B)

Ah, but you could 'spin' this around the other way....

If you get 5 viewings you can expect to get an offer ABOVE the asking price! That statistic would sound quite good to a seller!

False logic.

That would imply that one in five FTBs think houses are underpriced.

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calm down you lot, this was a survey of HOMEOWNERS.

...and a few FTBs....

The research found that first-time buyers were also feeling more optimistic, with 16% saying they had been put off getting on to the property ladder last year by market uncertainty, but were hoping to buy somewhere this year.

...and a few buyers...

At the same time one in five people said they would be prepared to offer more than a property's asking price to secure somewhere they really liked.

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At the same time one in five people said they would be prepared to offer more than a property's asking price to secure somewhere they really liked. Sellers are also feeling buoyant, with 16% saying they would be unwilling to accept offers that were below their asking price.

My impression of this spinner was that the above quote says it all about market confidence. Only a minority of 20% are willing to pay more. And only IF it was a dream property. That probably leaves about 2% who are willing to pay more than asking for a mainstream house. AT LEAST 80% are wary and are move toward the bear camp.

Personally, I found this very good news for the continuing HPC.

Edited by Realistbear

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First time buyers "May overpay"

With what money? How?

Loaners are clamping down on Self-cert lie to buy & are now going back to the 3.5 x salary. You'd be hard pressed to find lenders offering much more than 4x today.

Or are FTB's rolling in money? ;)

Edited by A Fool & His Borrowed Money

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MORE HYPER-SPIN from the Valleys:

http://icwales.icnetwork.co.uk/0300busines...-name_page.html

Rising buyer confidence boosts Bellway Feb 4 2006
Western Mail
Housebuilder Bellway signalled an upturn in house
market confidence yesterday following a 1% rise in sales for the past six months.
The group, which targets the lower to middle market, said the number of homes it sold during the period to January 31 rose to 2,958 at an average price of £168,000 - one of the
lowest averages in the industry.
Since Christmas it saw an improvement in buyer confidence and sales rates were picking up, resulting in
almost 80% of its 2005-06 target
of 7,100 sales being secured well before its year-end in July.
In a trading update, ahead of its interim results on April 4, the group said
incentives continued to be employed to encourage homebuyers and these had put a 'modest' amount of pressure on margins.
It recently offered customers £150 in vouchers so they could 'spring clean' their existing homes to encourage quick sales.

1. A 1% rise in sales would be considered time to sell the shares if it was an equity.

2. Their product sells at the lowest end of the market where profits are the least.

3. They missed their target by a whopping 20%--a shattering failure and a major sell the stock signal.

4. They have had to resort to incentives to get people to buy--another word for "lower prices."

The HPC continues apace!

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  • 301 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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