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Rightmove Figures For May Show A Massive Swing


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HOLA441
The conspiracy theorist in me thinks Brown may have set up HIPs as a scapegoat for HPC. He knew IRs would need to be going up as the country had sniffed that inflation figures were completely fixed.... Yvette Cooper the HIPs minister is Ed Balls' wife, an inner circle Brownite...

Anyway, perhaps HIPs is triggering the rush - but it is a combined effect with IRs and tabloid headlines. Herd instinct is back - they do not even bother to work out it is not a huge cost vs their HPI - but maybe they are all truly over-geared.

Another theory - it is BTLs selling their trashy properties before the dry rot takes over? :lol:

D'ya know your BTL theory could have some truth in it IMHO, that could explain why the amount of new sellers on RM has exploded and yet prices have barely budged - plenty of average priced property (BTL 'stuff') put up for sale? <_<

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HOLA442
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HOLA443
I'm sorry to have to disagree with you Crashmonitor but instinctively I feel that that must be complete b0ll0cks. This is a measure of asking prices not selling prices. I can't believe people put their houses on the market for less just because it's raining :blink:

It may influence asking prices if there are no viewers.I'd be the first to reach for the phone to get a reduction ,being of a pessimistic nature,if after three rainy weeks I had had nobody round.

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HOLA444
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HOLA445
So 350-400 pounds is causing a stampede for the exits. Is the market THAT delicately balanced that a tiny amount of cash can cause someone to take flight and rush to sell? Credibility stretched too far.

Its not the cost - it's the fact there will be hardly any energy inspectors to carry out the surveyneccessary for a HIP - they reckon in some parts of the country there will be no inspectors for months, and even when a few become qualified, there will be such a backlog to get through, plus they will be able to charge extortionate fees

A royal Labour Screw up - also it looks like Brown won't do a U-Turn on them - would look embarrasing, plus he had his chance last week in the commons debate - the government could easiliy have shelved the plans, put them out for more 'consultation' - HIP minster Yvette Cooper is Ed Ball's wife, so she's naturally completely in sych with Broons thinking

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HOLA446
Just going to play Devil's Advocate here...

What if HIPs are the central reason for the sudden rise in property available? And if that is the case, could they be a pre-cursor to driving prices back up as the number of available properties begin to dry up as people are reluctant to speculatively place their property on the market?

Interesting that this comment has been completely ignored. In my opinion, he has hit the nail on the head.

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HOLA447
Interesting that this comment has been completely ignored. In my opinion, he has hit the nail on the head.

I think HIPs are a convenient 'trigger' for many people beginning to panic as their mortgage repayments become increasingly unaffordable.

The problem with the combination of current prices and rising interest rates is who is left who can afford to buy.

There is only a shortage of supply if the number of houses on the market is less than the number of people who are ready willing and able to buy. That is very different to the number of people who would like to buy but are not able to because they cannot afford to.

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HOLA448
Interesting that this comment has been completely ignored. In my opinion, he has hit the nail on the head.

It's not possible to predict what the effect will be in those simple terms. A lot of speculative sellers that are detered by HIPS from speculatively selling would be buyers at the same time, so a lot of the reduction in supply will be matched by a reduction in demand. And the removal of an element of "speculation" may actually bring prices more in line with reality, because it will remove some of the kite flyers.

The market is a lot more complicated than "O look, there's a possible reason why people might not sell their house, so supply will drop".

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HOLA449
I think it's personal finances that are stretched too far.

Must be £400 too much when your about to sell your house having made 1000's? Something wrong there unless its media excitement driving this.

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