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tinecu

The Latest From Home.co.uk

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"Perhaps the most alarming news, from Home.co.uk, is that asking prices have fallen even further behind the rate of inflation. In real terms, asking prices are going backwards at an annual rate of 4.7% relative to the Consumer Price Index (CPI). Historically, periods of high inflation spell disaster for house prices, since the main weapon in inflation fire fighting is interest rate rises." :ph34r:

See the August Home.co.uk report and press release here:http://www.home.co.uk/asking_price_index/

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After three consecutive months of minor rises, asking prices in England and Wales were knocked back by 0.6%, according to the latest Asking Price Index report from Home.co.uk. Such price cutting behaviour underlines the highly price sensitive nature of the current housing market. Buyer affordability constraints are again creating sufficient downward pressure on prices to force sellers to discount their asking prices.
Bad news for sellers perhaps, but the changing nature of the market offers a glimmer of hope to aspirant first time buyers. For several years now, many thousands have been unable to get on the first rung of the property ladder and could only look on as prices soared out of reach. Finally the tide is turning, albeit slowly, as house prices in most regions are now moving in the right direction for those that represent the 'life-blood' of the market, nominally and in real terms.

I think the latest FT report would agree with this--the only exception being London. However Haart say London prices fell 1% last month.

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After three consecutive months of minor rises, asking prices in England and Wales were knocked back by 0.6%, according to the latest Asking Price Index report from Home.co.uk. Such price cutting behaviour underlines the highly price sensitive nature of the current housing market. Buyer affordability constraints are again creating sufficient downward pressure on prices to force sellers to discount their asking prices.
Bad news for sellers perhaps, but the changing nature of the market offers a glimmer of hope to aspirant first time buyers. For several years now, many thousands have been unable to get on the first rung of the property ladder and could only look on as prices soared out of reach. Finally the tide is turning, albeit slowly, as house prices in most regions are now moving in the right direction for those that represent the 'life-blood' of the market, nominally and in real terms.

I think the latest FT report would agree with this--the only exception being London. However Haart say London prices fell 1% last month.

I think it likely that the difference in the London figures is down to whether or not the index includes houses over £1M

Home.co.uk don't and I guess the FT do.

So prices for mere mortals in london aren't rising. ;)

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After three consecutive months of minor rises, asking prices in England and Wales were knocked back by 0.6%, according to the latest Asking Price Index report from Home.co.uk. Such price cutting behaviour underlines the highly price sensitive nature of the current housing market. Buyer affordability constraints are again creating sufficient downward pressure on prices to force sellers to discount their asking prices.
Bad news for sellers perhaps, but the changing nature of the market offers a glimmer of hope to aspirant first time buyers. For several years now, many thousands have been unable to get on the first rung of the property ladder and could only look on as prices soared out of reach. Finally the tide is turning, albeit slowly, as house prices in most regions are now moving in the right direction for those that represent the 'life-blood' of the market, nominally and in real terms.

I think the latest FT report would agree with this--the only exception being London. However Haart say London prices fell 1% last month.

Realistbear,

I've read some of your posts with interest and broadly agree with your views and hopes. However I am concerned that whilst the UK housing market is a very risky place atm, there are some demographic and economic factors that might mean that previous downswings might not be a model for the next one.

The main reason might be the growing maldistribution of wealth could mean the richer part of the population slowly accumulates more property (from distressed sellers or whatever). The sellers become renters and thereafter continue paying money to the landlords. There is a vicious circle here that accelerates the division of society. Governments have fostered this in many ways by switching rates (a wealth tax) to council tax (an occupancy tax). This meant landlords suddenly found some maintenance costs bourne by tenants. BTL for your own pension at the expense of your tenant(s) who won't even own their own house (unless they pay the inflated prices) let alone be able to organise their own retirement funding.... many other factors like this will be ongoing and could work against a HPC or am I way out?

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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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