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Nicholas Cage

Rics Report

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Comments are classic

Battersea – London

Robert Green MRICS

John D Wood & Co

As with previous month, the media is 'talking

down' the property market, and this is coupled

with further negative news on fuel and food

prices. Buyers are using this as a weapon to try

and 'get a deal'. To combat this, we price

accordingly in order to give buyers the

impression that they will have achieved this,

but without pricing the property too high so

that it looks expensive and does not attract

interest.

Northampton – Northamptonshire

Adam Farnsworth BSc MRICS FAAV

Berrys

There is no confidence in the market

as to the value of property. The

reduction of guide figures does

produce higher viewing, but the value

to a purchaser is based more on what

he can borrow and they are then

making offers based on this factor. If

they have a property to sell, there is

only a small chance of going through.

Confidence in prices is not being

helped by the media.

http://www.rics.org/NR/rdonlyres/B159571E-.../0/hms_0608.pdf

Edited by maxwell

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So basically it is caused by everything else under the sun, apart from the fact that the houses are criminally overpriced!!!!!!!

Sunderland – Tyne & Wear

P. Airey MRICS

Paul Airey Chartered Surveyors

Correctly valued property is still

selling, which means values are back

to 2005 prices. Unless liquidity comes

back soon, values may percolate down

to 2003/2004 levels i.e. 12 -15% drop.

Bishop Auckland – Co. Durham

Stuart Allan FRICS

Broadley & Coulson

There is a steady decline in prices of property

and only properties that are realistically

priced will sell. The main problem is first time

buyers who are having great difficulty in

obtaining mortgages at reasonable terms

and the requirement by building societies

and banks for deposits. Until the banking

industry regains confidence in itself and

offers mortgages at competitive rates with

reasonable deposits e.g. 5%, first time buyers

will be effectively out of the market. This has

a ripple effect throughout the market as

purchasers cannot move up the chain to

larger and higher value houses.

York – Yorkshire

Nigel Naish FRICS

Naish Estate Agents & Solicitors Ltd.

June has been very quiet, with sales and buyer

enquiries well down. The sooner we hit the

bottom the better, so that we can get going

again. We need a kick start from the lenders.

NORTH WEST

Leigh – Lancashire

Simon Miller BSc FRICS

Millers Chartered Surveyors & Estate

Agents

Adverse media coverage and lack of

affordable mortgage funding

continues to suppress the market.

Prices have fallen in the six months of

2008 with as yet no signs of an

increase in demand from buyers. Many

buyers, particularly first time

purchasers, are holding back from

buying until a more optimistic outlook

is conveyed.

Doncaster – South Yorkshire

Mark Hunter MRICS

Grice & Hunter

There appears to be no end of comment,

from people who don’t actually do the job,

pontificating on the state of the property

market and predicting drastic price falls.

The relentless barrage of often ill informed

comments is having a severe adverse

effect on confidence. The experienced

amongst us have lived through in our

careers at least three or four similar

downturns, but the market always

recovers. Contrary to popular opinion,

some property is selling and we have quite

a number of potential other buyers, once

their own properties have sold.

Grantham – Lincolnshire

Ian Shaw FRICS

Escritt Barrell Golding

The market is exceptionally slow and not

helped by continuous negative media

publicity.

Plenty of Pot Kettle and Black. How can they be so critical of people commenting on the property market, who are not estate agents? When they comment on the strength of the economy and finance that underpins the ability to borrow money in order to purchase homes. Are they economists and financiers as well as estate agents????? :lol::lol::lol::lol:

Edited by BeenieSiegleDesertEagle

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John Frost (Frost Partnership) has made 7 different comments operating from 7 different offices in the South East.

Ashford – Middlesex

John Frost MRICS

The Frost Partnership

Despite significant falls in the askingprice of our property stock, sales remain at levels not seen since the early 1990s. New applicant registration has fallen again. Instructions have fallen again. We are declining business where we feel the vendor is unrealistic or not 100% motivated

Burnham – Buckinghamshire

John Frost MRICS

The Frost Partnership

Prices will continue to drop in an

attempt to attract the few buyers that

are about to commit.

Windsor – Berkshire

John Frost MRICS

The Frost Partnership

Vendors’ expectations are slowly

becoming more realistic, but the

number of new instructions has

decreased due to the weak housing

market as people are preferring to

‘wait and see’.

Amersham – Buckinghamshire

John Frost MRICS

The Frost Partnership

Sales are poor. There is a lack of buyer

confidence. Lettings are busy.

Gerrard’s Cross – Buckinghamshire

John Frost MRICS

The Frost Partnership

NEGATIVES: Consistent media coverage

speculation about further drops in house

values of 1 – 30%, lack of mortgage products,

lack of government action to remedy the above

and fear in regard to tackling inflation with

interest rate rises.

POSITIVES: Vendors are finally getting the

message that values have adjusted.

Beaconsfield – Buckinghamshire

John Frost MRICS

The Frost Partnership

There is currently an impasse between vendors

and purchasers that cannot be bridged, leading

to very low numbers of sales. With no obvious

positives currently in the economy, this market

could be similar for some time.

Slough – Buckinghamshire

John Frost MRICS

The Frost Partnership

Negative publicity is causing a lack of

confidence in the marketplace which is causing

property prices to fall, this in turn is causing a

lack of instructions and property chains to fall

apart.

Have so many EAs been made redundant that RICS have to interview the same person 7 times ?

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Richard Sayer, of agents Rook Matthews Sayer in Alnwick, Northumberland, said: "With prices falling and rents rising, investor buyers are returning. Normal home sellers are accepting that prices have reduced and understand that this does not necessarily translate into them losing money. Often, with movements up the housing ladder, they are benefiting."

Seriously. Can you friggin' believe this? I assume Mr Sayer was speaking out loudly over the past ten years about the madness of celebrating 'movements up the housing ladder' getting further and further apart. I guess we just couldn't hear him over all the other noise.

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  • 395 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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