Tuesday, Jun 27, 2006

Propertyfinder.com weighs in with 'bearish' report

Firstrung: First-time buyers driving a hard bargain by offering 6.3 per cent below the asking price

Research from Propertyfinder.com has shown a drop in confidence in the housing market. Confidence slipped for the first time in six months, house hunters have slashed their expectations for property prices over the next year from 7.7 per cent in May to 4.3 per cent in June. 78 per cent of respondents expect the market to rise over the next twelve months, down from the 84 per cent seen in May. This is the first such drop since December.

Posted by Converted Lurker @ 12:04 AM (557 views)
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4 Comments

1. Inbreda said...

Correct me if I'm mistaken but a day or so ago a company like Hometrack announced that prices were increasing based on asking price. If FTBs are offering 6.3% below asking price then although it still doesn't cover selling price, it certainly wipes the smile off the Hometrack claim of (was it 3%?) increases??

Combine the two reports together and i think the result is FALLING prices.

Tuesday, June 27, 2006 12:48PM Report Comment
 

2. inbreda said...

Correct me if I'm mistaken but a day or so ago a company like Hometrack announced that prices were increasing based on asking price. If FTBs are offering 6.3% below asking price then although it still doesn't cover selling price, it certainly wipes the smile off the Hometrack claim of (was it 3%?) increases??

Combine the two reports together and i think the result is FALLING prices.

Tuesday, June 27, 2006 12:49PM Report Comment
 

3. bidin'matime said...

Certainly sounds good to me - all going in the right direction again!

Tuesday, June 27, 2006 01:18PM Report Comment
 

4. tyrellcorporation said...

My pet theory is that there is a concerted effort by VIs to confuse the market pundits, economists and the BoE by putting out conflicting reports, surveys and stats. With data all over the place, this makes it more likely interest rates will just stay put.

Tuesday, June 27, 2006 07:38PM Report Comment
 

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