Monday, August 28, 2006

Mini-boom to end in the Autumn

Property mini-boom 'soon over'

Richard Donnell, Director of Research at Hometrack, expects market sentiment to be dented by the latest rate rise and expectations of future rises over the coming months.

Posted by Paulm @ 10:45 AM (590 views)
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5 thoughts on “Mini-boom to end in the Autumn

  • I’m not so sure. This is what many lenders are saying – “prices are fine and properties are holding their value or going up in value, but things could get very bad soon!”.

    So their trying to talk up the market while keeping the BofE from raising rates.

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  • tyrellcorporation says:

    Mmmm… I wonder how long they think they can get away with this strategy. It’s a bit like the retail sector trying to stave of IR rises by calling any upturn in trade a ‘fragile recovery’. Both good and bad news in equal measure…

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  • bidin'matime says:

    But the point is that it’s getting through to the public, viz my cousin:-

    (copied from forum post for those who havent looked at the link..)……he’s approaching 40, that age when people realise that they don’t have enough pension provision and the age bracket who seem most attracted to BTL.

    Now, this guy does not have a finance or property related background. But when the subject of BTL came up, instead of him telling us how he was about to solve all his pension problems by BTL, as so many do, he started saying that the yields just aren’t there and you’ve got a problem if you have too many void periods.

    He went on to say that he had read all about it, mainly in the Guardian. He seemed to have picked up some pretty negative vibes, all of which was extremely reassuring, because, even when we see such reports ourselves, the worry is that we are only seeing them because we choose to focus on them (mainly via the Newsblog). The good news is that these reports are starting to get through to the people who matter – those who might otherwise go any buy.

    So if this is crocodile tears on the part of the VIs, as someone pointed out before, it is a very risky strategy.

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  • bidnmatime, good to see you pick up on…

    “the worry is that we are only seeing them because we choose to focus on them”

    if you want armageddon, don’t spend £3 on dvd hire, just an evening on this forum.

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