Monday, Nov 27, 2006

More Predictions

TheTimesOnline: Place your bets now

Experts predict a slower market in 2007, report Anne Ashworth and Susan Emmett

THE house price prediction industry is building up steam. This week we report on the first three substantial pieces of research on the prospects for 2007. No one is talking of a slump, but even the most optimistic of these gurus does not envisage that prices will outperform this years bravura performance of a rise of 8 per cent. Forecasts from Halifax and Nationwide will follow in the next few weeks......

Posted by onyerhike @ 06:24 PM (2796 views)
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1. Nelson said...

This mentions the average household only moving every 18 years - why is not more attention given the low amount of houses up for sale - surely if fewer houses are selling than ever before, this is a good indication that the market is stuck - I can see how this would affect house prices temporarily (not enough houses up for sale) but isn't it artificial to say house prices are rising because noone can AFFORD to sell and move up - hence the few houses that are up for grabs are unrealistically priced. How long can the rest of the market hang around? I'd like to see a monthly-annual comparison and graph on this trend of quantity of houses being sold - I am sure it would be a downwards slope.

Tuesday, November 28, 2006 12:36PM Report Comment

2. Nohpc said...

Fewer houses up for sale makes it a sellers market. There are way more buyers than sellers at the moment. I do not think there will be a rush to ditch property as people on here think. There may well be other factors that force a possible house price crash but I genuinely don't see the BTL crowd jumping ship. I also realise that some people will be forced to sell up when they cannot make repayments but most people will be able to hang on in there and get the price they want. Look what happened in 2005. House prices remained static but there were very few sales. I think a repeat of 2005 is the worst outcome that can realistically happen.

Also, as long as rates are nudging up gently this is unlikely to precipitate a crash. The last crash was brought on mainly by a doubling of interest rates over night and therefore a doubling of interest payments on your mortgage! This is not going to happen in the forseeable future.

Wednesday, November 29, 2006 06:44AM Report Comment

3. Nohpc said...

Capitol economics being a lot more bullish than expected in this too! Unbelievable U turn on their part! Very encouraging.

Wednesday, November 29, 2006 06:46AM Report Comment

4. Nohpc said...

Surely somebody must come out and predict a drop in prices next year. Looks like another lucratice year for homeowners next year. The lowest of the predictions from the 3 so far is 5 % !

Wednesday, November 29, 2006 06:56AM Report Comment

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