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Realistbear

Bournemouth's 7% Hpc Blamed On Flexible Asking Prices

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http://www.thisisbournemouth.co.uk/dorset/...NEWS_NEWS0.html

HOUSE prices in Bournemouth dropped by seven per cent last year, a new survey has shown. But homeowners shouldn't despair - statistics have revealed that they made a massive 73 per cent from investing in the property market in just five years.
Julian Hewlett, manager of Taylor Viscount estate agent's in Boscombe, agreed with the survey's findings. He said: "Last year house prices dropped by up to seven per cent because people became
more flexible
with their asking prices.
A Tuckton estate agent agreed that prices had stabilised. "The problem is that there aren't many homes coming onto the market and
people aren't prepared to pay the prices sellers are looking for," she said.
"Prices dipped from ten to 15 per cent in the last quarter of last year.
Since January they've risen again by between three and four per cent," he added.

First published: May 1, 2006

Edited by Realistbear

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Guest Baffled_by_it_all

Well that's really good news for the housing market. Things are looking up.

People aren't getting the money they want for their houses and less people are buying.

What's that? Oh, the fasten seatbelts light has come on...

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http://www.thisisbournemouth.co.uk/dorset/...NEWS_NEWS0.html

HOUSE prices in Bournemouth dropped by seven per cent last year, a new survey has shown. But homeowners shouldn't despair - statistics have revealed that they made a massive 73 per cent from investing in the property market in just five years.
Julian Hewlett, manager of Taylor Viscount estate agent's in Boscombe, agreed with the survey's findings. He said: "Last year house prices dropped by up to seven per cent because people became
more flexible
with their asking prices.
A Tuckton estate agent agreed that prices had stabilised. "The problem is that there aren't many homes coming onto the market and
people aren't prepared to pay the prices sellers are looking for," she said.
"Prices dipped from ten to 15 per cent in the last quarter of last year.
Since January they've risen again by between three and four per cent," he added.

First published: May 1, 2006

'Flexible' I love it.

I didn't despair in 2000 'cos my Tech shares had increased in value by 120 p.c over the proceeding 3 years.

Oh :huh:

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Makes you wonder how many other areas really saw a 15% drop. The VIs have been doing a masterfull job of covering this up for several months. The truth is slowing coming out so perhaps the EAs are thinking they can at least make some money in a crash whereas a stagnant market will spell unemployment for most of them.

Looks like the "Spring Bounce" featured the dead cat this year :)

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http://www.thisisbournemouth.co.uk/dorset/...NEWS_NEWS0.html

A Tuckton estate agent agreed that prices had stabilised. "The problem is that there aren't many homes coming onto the market and people aren't prepared to pay the prices sellers are looking for," she said.

Prices have fallen because of a shortage of supply?

Not the usual relationship between supply and demand, is it?

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Prices have fallen because of a shortage of supply?

Not the usual relationship between supply and demand, is it?

You all have a wonderfully twisted view of supply and demand in the property market. It isn't coffee you know!

Let me give you an insight.

In each property transaction - chain or not - one person enters the market and one person leaves it.

The price of property depends on the balance between the number of buyers in the market and the number of sellers, not the number of properties.

I have seen markets where there is very little on the market and prices have to fall to entice buyers into the market.

I have seen markets with very little property on the market where everything sells quickly, at a premium.

I have seen markets with massive amounts of property on the market all of which sells like hot cakes with prices rising month on month.

I have seen markets with massive amounts of property on the market with very little selling and prices hardening.

Now I know this does not fit in with your usual supply/demand economics but property is a unique market that does not fit this model - nor does it follow the economic cycles you all love so much.

Your lack of understanding of the property market is the reason why you cannot predict where it is heading. You seem to have been repeating your mantras for a couple of years or more now and, during this period, prices everywhere outside London and the South East have continued to climb. Now, London and the South East are climbing again and other areas are experiencing a slow down.

Whichever way you look at it, your predictions of a House Price Crash have been utterly wrong.

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You all have a wonderfully twisted view of supply and demand in the property market. It isn't coffee you know!

YOU have such a twisted view of suppy and demand that it's hard to know where to start putting you right, or even if it's worth bothering, since according to you, the normal laws of supply and demand don't apply to property. That's the first time I've heard that, even from the bulls. I'm speechless.

Every estate agent is familiar with the terms "buyer's market"and "seller's market" - except you it seems.

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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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