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Turnbull2000

Nhf Predictions Go Regional - North East House Prices Will Rise Rapidly Again In Three Years

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Housing Federation North East regional manager Monica Burns said falling house prices would not necessarily help first-time buyers.

She said: “North East house prices have risen almost five times faster than incomes over the past decade.

Yes sure FTB's must be begging for price to go back up :lol:

We are going to see big drops in house prices but much of the drop will be hidden by the drop in the value of the pound and inflation so that the sheeple remain convinced that house prices never go down.

To date 10% has come off the actual seling price but thats nothing to the 20% the pound has dropped against the euro (not the worlds best currency) and then let throw in inflation that must have a close relationship with the M3 money supply that is running well into double digits.

in real terms we are already aproaching 40% and i'm not getting many brain flashes to go and buy.

Edited by Justice

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The HPI quango mouthpiece now features in today's Newcastle Journal. Only last week they had Sarah Main's claiming "now is the best time to invest in your first property".

http://www.journallive.co.uk/north-east-ne...61634-21432885/

Housing Federation North East regional manager Monica Burns said falling house prices would not necessarily help first-time buyers.

She said: “North East house prices have risen almost five times faster than incomes over the past decade.

“The recent dip in house prices offers us no comfort. It will hurt homeowners who are paying more for a home than it is worth and will do nothing (falling prices that is) for families trying to get onto the property ladder. The supply and demand mismatch in the North East continues.

And within a few years there will be yet another period of rapid house price rises, widening the already substantial affordability gap in the region.”

The federation said the current average price of £142,209 was more than eight times the average North East salary.

Last night Neil Foster, director of estate agents Foster Maddison, predicted the market for mature homes would suffer the least and recover fastest after the fall.

He said: “The real growth is a long way off but homeowners should be reassured that prices are not going to collapse.

“Confidence has certainly diminished but it is has not by any means gone away.

“The mature property market, the pre-war properties in Gosforth, the Tyne Valley and in Jesmond are seeing some small changes but we see many that get the asking price.

“I would agree that people simply need to have realistic expectations and advice, because these modest changes are not going to do a lot of damage.

“What we need to be saying to families now is, your home is actually pretty safe, the value will not fall greatly and there are modest improvements on the way.”

He said the buy to let market was going to suffer, but he was confident that Newcastle was well placed to weather the storm.

Edited by Turnbull2000

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this is supreme ********.

They will rise on the basis of what? Northern Rock 2, the vendetta?

Do me a favour. Sometimes I am surprised at the thickness of some people up here, but not even they would fall for this.

142k might be about 8.5 times the average salary. But how many people do actually work and how many will be in work in 2 years?

Desperate spin.

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I do worry that some of this spin will have an influence and prolong inflated prices. Most people are easily led. Desperate sellers may decide to hold out for a few years in the belief that prices will rocket again soon. Potential first-time-buyers may just take the plunge instead of holding off. But there's so many variables pulling in either direction that you can never be sure :(

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Indeed, it is truly amazing just how blinkered these VIs can be.

The dullards cannot conceive of a world that will shortly find them utterly redundant, for that is their fate when the economic reality of the crash pervades all strata.

The bitter unpalatable truth is that prices are not dictated by supply and demand in this market but by the finance available. There will not be a return to the pyramid scamming that prevailed over the past 5 years in much the same way that the South Sea and Dot.com bubbles will not be reinflated.

Each dog has its day and this particular one has shredded the bone, cocked its leg and disappeared into the doggy sunset never to be seen again.

Housing as a vehicle for speculation is a thing of the past and finally equilibrium will be restored at a level reflecting true disposible income and any future gains will be determined by the traditional ratio between debt and income.

Tesco shelf stacker liar loans RIP and good riddance too. It damn well nearly brought down the banking system and as such I don't think future regulators are likely to repeat the experience.

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I am tempted to e-mail and ask WHY lower prices are worse?

Why do people think like this?

Gas prices up - Bad

Electricity prices up - Bad

Council Tax prices up - Bad

Petrol prices up - Bad

Food prices up - Bad

Water prices up - bad

House Prices up - Good (despite the fact that this pushes monthly mortgage payments up, which is most peoples biggest single monthly outgoing)

Why, oh why are house prices going up a good thing. Is it because of that feeling of 'wealth' from all the equity? Why don't they buy a massive tank and store gas and when gas prices go up, they will have 'gas Equity' or a shed load of batteries, charge them up and think of all the 'Electricity equity' you'll have.

People are clearier insane.

They need the High House Prices = Good Thing mantra drummed out of them asap.

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Indeed, it is truly amazing just how blinkered these VIs can be.

The dullards cannot conceive of a world that will shortly find them utterly redundant, for that is their fate when the economic reality of the crash pervades all strata.

The bitter unpalatable truth is that prices are not dictated by supply and demand in this market but by the finance available. There will not be a return to the pyramid scamming that prevailed over the past 5 years in much the same way that the South Sea and Dot.com bubbles will not be reinflated.

Each dog has its day and this particular one has shredded the bone, cocked its leg and disappeared into the doggy sunset never to be seen again.

Housing as a vehicle for speculation is a thing of the past and finally equilibrium will be restored at a level reflecting true disposible income and any future gains will be determined by the traditional ratio between debt and income.

Tesco shelf stacker liar loans RIP and good riddance too. It damn well nearly brought down the banking system and as such I don't think future regulators are likely to repeat the experience.

An excellent post d e m.

IMO it would be constructive to have something similarly soothing posted to the other half dozen or so panicky threads on the front page.

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I am tempted to e-mail and ask WHY lower prices are worse?

Why do people think like this?

Gas prices up - Bad

Electricity prices up - Bad

Council Tax prices up - Bad

Petrol prices up - Bad

Food prices up - Bad

Water prices up - bad

House Prices up - Good (despite the fact that this pushes monthly mortgage payments up, which is most peoples biggest single monthly outgoing)

They need the High House Prices = Good Thing mantra drummed out of them asap.

The media and Vis sold a la-la dream, and many took it in. Debt is wealth. Equity is real money to spend. The art of money management and budgeting has been completely lost in the battle to keep up with the Beckhams.

You are quite right, it is a rather insane point of view.

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  • 396 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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