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R I C S: I R Hike Will Not Affect Housing Market

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http://uk.biz.yahoo.com/060803/323/gikxs.html

Thursday August 3, 01:02 PM

UK housing market unlikely to be affected by quarter point BoE rate hike - RICS
LONDON (AFX) - The UK housing market is likely to take in its stride the Bank of England's quarter point rate hike today, the Royal Institution of Chartered Surveyors said.
'RICS does not believe that this rise will have any immediate impact on the economy or the housing market,' the organisation said in a statement.
It warned, however, that further hikes will dampen demand.
'If interest rates were to rise further in the coming months, a slowdown in the housing market in 2007 is to be expected,' it added.

A slowdown in 2007 eh? :lol::lol::lol:

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'RICS does not believe that this rise will have any immediate impact on the economy or the housing market,' the organisation said in a statement.

That's a classic - why do they think the BoE actually increased rates then - for a lark? It obviousl does have an immediate impact on the economy - it immediately takes £x out of people's pockets that they could otherwise have saved spent on tat or on a mortgage. I bet they say this every time there's a rate rise going forward.

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That's a classic - why do they think the BoE actually increased rates then - for a lark? It obviousl does have an immediate impact on the economy - it immediately takes £x out of people's pockets that they could otherwise have saved spent on tat or on a mortgage. I bet they say this every time there's a rate rise going forward.

So RICs have left themselves open for another rate rise then - the BOE will be thinking bugger we've not done enough how about 0.5% no wait lets try 1%

Edited by Live_in_hope

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So RICs have left themselves open for another rate rise then - the BOE will be thinking bugger we've not done enough how about 0.5% no wait lets try 1%

Damn good point! Keep 'em coming!

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The RICS must be on drugs to make such a crass comment.

YES IT WILL AFFECT HOUSE PRICES.THEY ARE GOING TO CONTINUE FALLING

And boy do I know!!

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The RICS must be on drugs to make such a crass comment.

They're hardly going to say 'Oh my god! House prices are going to crash!' are they?

But I bet they'll be back just before the next MPC meeting whining about how bad the housing market is so we shouldn't have another rise.

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Guest Bart of Darkness
The UK housing market is likely to take in its stride the Bank of England's quarter point rate hike today, the Royal Institution of Chartered Surveyors said.

Well that's all right then. Looking at comments elsewhere I was getting a different message.

It warned, however, that further hikes will dampen demand.

'If interest rates were to rise further in the coming months, a slowdown in the housing market in 2007 is to be expected,' it added.

Surely the market can take these rises "in its stride" as well? :lol:

Lying scroats.

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http://uk.biz.yahoo.com/060803/323/gikxs.html

Thursday August 3, 01:02 PM

UK housing market unlikely to be affected by quarter point BoE rate hike - RICS
LONDON (AFX) - The UK housing market is likely to take in its stride the Bank of England's quarter point rate hike today, the Royal Institution of Chartered Surveyors said.
'RICS does not believe that this rise will have any immediate impact on the economy or the housing market,' the organisation said in a statement.
It warned, however, that further hikes will dampen demand.
'If interest rates were to rise further in the coming months, a slowdown in the housing market in 2007 is to be expected,' it added.

A slowdown in 2007 eh? :lol::lol::lol:

RICS are EA's. Lets all "follow the Bear"

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What occurs to me is the VIs will now be working flat out to tell us that a .25 hike is fine, only makes £12 per month difference to the average mortgage etc.

The VIs have been busy digging a hole for everybody for the last few years with great effect so I expect they will have some success digging a bit deeper.

What really matters is how the BTL market sees this, I imagine they are probably quite sensitive to an IR hike, If anyone was to mention another one was on the cards I think there might be a bit of panic

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http://uk.biz.yahoo.com/060803/323/gikxs.html

Thursday August 3, 01:02 PM

'If interest rates were to rise further in the coming months, a slowdown in the housing market in 2007 is to be expected,' it added.[/indent]

A slowdown in 2007 eh? :lol::lol::lol:

think they've just shot their own foot with that statement, house buyers will worry now of further rises leading to 2007 slowdown as mentioned in RICS statement.

buyers will take a wait and see approach, sales will fall through, its all about psychology, and sentiment's now turning again taking us back to a year ago when it was actually slowing

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Aha, RICS (Royal Institute of Corrupt Surveyors) are back to form then....trotting out their traditional talk up of the market at all costs. Just remember that when a RICS member surveys your next home.

VP

Edited by VacantPossession

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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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