Jason Posted June 22, 2006 Share Posted June 22, 2006 (edited) Sentiment in the housing market remains hot but there has been turmoil in the equity markets and talk of an interest rate hike. Growth this year has been driven by a rise in market confidence and a major imbalance between supply and demand. This has been coupled with a large round of city bonuses and the continuing influx of foreign money at the top end. The FTSE 100 has slumped 10% - but we should remember this was from a 5 year high, recorded in April. Whilst the fall is being blamed on fears about the direction of interest rates; the Bank of England has in fact just held rates steady at 4.5%. Nevertheless, in an effort to curb inflation, the European Central Bank have elected to raise by 0.25%, and economists are now saying it's a case of when, not if, UK rates will rise. The build up of pressure caused by the lack of fresh property to the market seems to have created a 'head of steam' on the demand side; which means that despite World Cup fever which is gripping the nation, we expect slightly busier conditions to run on through the summer. The holiday season naturally reduces activity so the market will certainly ease - but this year we do not expect it to do so to the usual extent. The prospect of the governments Home Information Packs coming into force in 2007 haunts the entire industry. The legislation as currently proposed could have a sizeable impact on the market if it was to become law. However we firmly believe the proposals are not workable, are monitoring the situation closely and anticipate modifications within the next few months. Nevertheless, despite the recent volatility in the stock market, city employment predictions are up and the bonus pot for 2007 is once again rumoured to be significant. This is only likely to add fuel to the fire at the top of the market. We would encourage clients to remember property is not a short-term investment and that what is significant when making a purchasing decision is not whether a property costs £20,000 more or less, but whether there is likely to be a major short-term adjustment in prices. The messages are undoubtedly mixed at this time – but we are confident there will not be significant price movements during the remainder of the year. We hope you'll find these comments useful. Please do get in touch if there are ever things you'd like to discuss. Phil Spencer Chief Executive Edited June 22, 2006 by Jason Quote Link to comment Share on other sites More sharing options...
Dames Posted June 22, 2006 Share Posted June 22, 2006 Spot of A*** covering going on there I think. Quote Link to comment Share on other sites More sharing options...
Converted Lurker Posted June 22, 2006 Share Posted June 22, 2006 Not sure if Kirsty is a Director/shareholder Jason Quote Link to comment Share on other sites More sharing options...
mikthe20 Posted June 22, 2006 Share Posted June 22, 2006 Not sure if Kirsty is a Director/shareholder Jason No, she's neither a director nor a shareholder. Quote Link to comment Share on other sites More sharing options...
Red Baron Posted June 22, 2006 Share Posted June 22, 2006 Not sure if Kirsty is a Director/shareholder Jason There's enough skin on that lady's posterior to upholster a three-piece suite. Quote Link to comment Share on other sites More sharing options...
charmer Posted June 22, 2006 Share Posted June 22, 2006 What utter toss, a few Q's for K&P. "The FTSE 100 has slumped 10% - but we should remember this was from a 5 year high, recorded in April. Whilst the fall is being blamed on fears about the direction of interest rates;" Point 1) So, why couldn't the housing market slump from a 16 year high then? And will that make it any less painful? Point 2) If there are fears about the future direction of interest rates, why no effect on housing "The build up of pressure caused by the lack of fresh property to the market seems to have created a 'head of steam' on the demand side; which means that despite World Cup fever which is gripping the nation, we expect slightly busier conditions to run on through the summer. The holiday season naturally reduces activity so the market will certainly ease - but this year we do not expect it to do so to the usual extent." This appears to be meaningless drivel. Seriously, I could do this too - People wanting to live somewhere other than a ditch have created a enormous demand for 4 bed semi's at the middle end of the market. Despite the Ikea sale, we expect demand to rebound strongly producing significant yet tantalisingly unquantifiable gains at some point in the future. Cretins. Quote Link to comment Share on other sites More sharing options...
othello Posted June 22, 2006 Share Posted June 22, 2006 Phill Spencer's market appraisal is like one of Russell Grant's horoscopes - all things to all people. Quote Link to comment Share on other sites More sharing options...
Mags Posted June 22, 2006 Share Posted June 22, 2006 There's enough skin on that lady's posterior to upholster a three-piece suite. Please don't! I know she's made her cash from possibly one of the most amoral methods, I know she's screwed up the lives of many by encouraging them to purchase beyond their means when she has a vested interest in keeping prices high, I know she has never been in the position of having to purchase a home for herself without substantial help from mummy and daddy, but can we leave her size out of it? OK she's not a size 8, but then nor are the vast majority of women, and frankly, most wouldn't want to be either. I don't want to come over as stroppy about it at all, but when there are so many reasons to question her actions it seems a bit lame to make jibes about her size. Do you know what I mean? Quote Link to comment Share on other sites More sharing options...
RandomWalk Posted June 22, 2006 Share Posted June 22, 2006 Please don't! I know she's made her cash from possibly one of the most amoral methods, I know she's screwed up the lives of many by encouraging them to purchase beyond their means when she has a vested interest in keeping prices high, I know she has never been in the position of having to purchase a home for herself without substantial help from mummy and daddy, but can we leave her size out of it? OK she's not a size 8, but then nor are the vast majority of women, and frankly, most wouldn't want to be either. I don't want to come over as stroppy about it at all, but when there are so many reasons to question her actions it seems a bit lame to make jibes about her size. Do you know what I mean? At the risk of sounding unPC, Kirsty doesn't have to be a porker. Weight = pies - exercise. On the other hand, due to the unfortunate timing of my birth, I have little choice about my renting situation. What gets peoples' goat is Kirsty's attitude, and I'm afraid that her body mass makes her an easy target, however unpalatable that may be. Quote Link to comment Share on other sites More sharing options...
keepwatching Posted June 22, 2006 Share Posted June 22, 2006 She is 'behind' all this MEWing for WIDEscreen TVs Not suprisingly she doesnt like HIPS (Probably will get hers sucked out for the price of a backhander) Cream cake anyone ? Quote Link to comment Share on other sites More sharing options...
Converted Lurker Posted June 22, 2006 Share Posted June 22, 2006 Please don't! I know she's made her cash from possibly one of the most amoral methods, I know she's screwed up the lives of many by encouraging them to purchase beyond their means when she has a vested interest in keeping prices high, I know she has never been in the position of having to purchase a home for herself without substantial help from mummy and daddy, but can we leave her size out of it? OK she's not a size 8, but then nor are the vast majority of women, and frankly, most wouldn't want to be either. I don't want to come over as stroppy about it at all, but when there are so many reasons to question her actions it seems a bit lame to make jibes about her size. Do you know what I mean? She`d still get a game though Mags, as long as she talked dirty 'HPI' to me Quote Link to comment Share on other sites More sharing options...
binkybonka Posted June 22, 2006 Share Posted June 22, 2006 A little bit sad and school kid like do you not think? Quote Link to comment Share on other sites More sharing options...
Guest Posted June 22, 2006 Share Posted June 22, 2006 I'm warning you, bonka, don't piss me off, I'm NOT in the mood. Quote Link to comment Share on other sites More sharing options...
keepwatching Posted June 22, 2006 Share Posted June 22, 2006 I think he is too....... Chormondly warner (excuse spelling) is a much better sketch (It is actually funny too).... Quote Link to comment Share on other sites More sharing options...
binkybonka Posted June 22, 2006 Share Posted June 22, 2006 Chubberley warner? Scuse pun. Quote Link to comment Share on other sites More sharing options...
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