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Rising Prices, Falling Buyer Numbers

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Apologies if already posted. Asking prices are rising but buyer inquiries are slowing apparently. Is this because buyers are being priced out even more or just expecting this mini-boom to peter out? You decide... :)

The Times May 16, 2006

Property prices rise faster, but calls from buyers slow

By Gabriel Rozenberg, Economics Reporter

HOUSE prices have risen for the sixth month in a row as the markets for large homes and properties in the South continued to gain momentum, a survey shows today.

Prices grew slightly faster in April than in March, but the growth of new inquiries slowed again, according to the Royal Institution of Chartered Surveyors (RICS). The study found that 15 per cent more surveyors saw a rise in prices last month than a fall, compared with an equivalent balance of 12 per cent in March.

Jeremy Leaf, a spokesman for RICS, said that low interest rates and a rising stock market were encouraging buyers, although the advantage was expected to move to sellers in the months ahead as the num-ber of properties available fell.

The survey was in line with a study by Rightmove that showed continuing strength in the market. Further signs of vigour came yesterday from the Department for Communities and Local Government, whose latest house price survey — in a series formerly published by the Office of the Deputy Prime Minister — showed a 2 per cent rise in prices in March, after a 1.2 per cent drop in February.

The strong rises will keep the Bank of England vigilant against an inflationary risk to the wider economy. Last week Mervyn King, the Bank’s Governor, said that house prices seemed “remarkably high”.

In a further sign of the economy’s recovery, the British Chambers of Commerce yesterday raised its growth forecast for this year from 2.2 per cent to 2.3 per cent.

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We saw this with the stock markets just before the events of last Thursday, they were hitting new highs but on lower volumes and strengths, the weak rally eventually broke down.

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We saw this with the stock markets just before the events of last Thursday, they were hitting new highs but on lower volumes and strengths, the weak rally eventually broke down.

I hope so. Bit depressing though...

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  • 337 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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