beerhunter Posted January 14, 2005 Share Posted January 14, 2005 House prices to have soft landing There is increasing evidence that there will not be a house price crash, with the market heading for a soft landing, the Council of Mortgage Lenders (CML) has said.The CML admitted there is "no sign of a sharp collapse", or any significant successive month-on-month falls. In its briefing, the CML said: "The housing market slowdown is undoubtedly underway, but there are encouraging signs of a soft landing." "While house price growth is clearly moderating, there is no sign of a sharp collapse - or indeed any significant successive month on month falls. "On the whole the data is consistent with our expectation of a gentle slowdown, with the main impact of the slowdown being on transaction levels." The report, which appeared on the same day the Bank of England decided to hold interest rates at 4.75 per cent, looks at a wide range of factors affecting developments in the housing and mortgage markets, and compares all the figures released over the last month. The CML also noted that house prices and supply meant that the market was shifting towards buyers. "According to estate agents, the balance of favour is definitely shifting to the buyer. This is because supply is beginning to exceed demand, largely a result of new properties continuing to come on to the market despite the fall in the number of buyers," the CML said. Anyone actually spot the evidence for a soft landing in this article? The phase "no sign of a sharp collapse".. you have to laugh.. next they will be saying its a medium paced collapse As the CML put it "supply is beginning to exceed demand".. beginning? Don't they look at hometrack's figures? I get the feeling the CML figures maybe a few months behind.. or perhaps they are trying to talk up the market? Strange since the EA's are starting to talk the market down to get the volumes of sales needed. Quote Link to comment Share on other sites More sharing options...
Antsy Posted January 14, 2005 Share Posted January 14, 2005 House prices to have soft landingAnyone actually spot the evidence for a soft landing in this article? The phase "no sign of a sharp collapse".. you have to laugh.. next they will be saying its a medium paced collapse As the CML put it "supply is beginning to exceed demand".. beginning? Don't they look at hometrack's figures? I get the feeling the CML figures maybe a few months behind.. or perhaps they are trying to talk up the market? Strange since the EA's are starting to talk the market down to get the volumes of sales needed. <{POST_SNAPBACK}> Haven't they noticed that their members er- aren't lending many mortgages anymore????? What can it all mean? Quote Link to comment Share on other sites More sharing options...
beerhunter Posted January 14, 2005 Author Share Posted January 14, 2005 Haven't they noticed that their members er- aren't lending many mortgages anymore????? Â Â What can it all mean?<{POST_SNAPBACK}> The head doesn't know what the ar*e is doing! Quote Link to comment Share on other sites More sharing options...
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