Friday, Dec 15, 2006

No crash in sight for Estate Agents

MoneyExtra: House Prices Robust for 2007

The housing crash, predicted around this time of year by some industry doom mongers, will have to be put on hold again. According to the latest report by Nationwide , house prices will increase by 5-8% over the course of 2007.
Nationwide's Fionnuala Earley commented "we can expect to see a few months of double-digit annual house price inflation in the first half of the year."

Posted by little professor @ 12:41 AM (491 views)
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1. little professor said...

Friday, December 15, 2006 12:41AM Report Comment

2. paul said...

Idle speculation. Can we hold Nationwide's Fionauaualla legally liable if her forecast is wrong?

Didn't think so.

Friday, December 15, 2006 09:46AM Report Comment

3. The Capitalist said...

Well Fiona, you are surely asking for a rise in interest rates if HPI remains in double figures. Perhaps you should have been wiser to say some vague statement like "housing growth remains bouyant for 2007" like all the other VIs.

The facts are glaringly obvious to us EAs - prices will fall - we just don't know when. Expect those at the margins to start selling first: BTL, FTB and those that took crazy-multiple mortgages. The bad news will occur early Feb as we see a spike in bankrupts (bills for Xmas land end of Jan) IR rise almost a dead cert in Feb 07.

Put your hard hats on and put all assets into cash, gold, softs.

I've just sold a lot of shares as I believe a equities will go down as well...this whole game has been built on debt and payback time is getting closer each day.


Friday, December 15, 2006 11:04AM Report Comment

4. David20040_0 said...

Oh my god, every year the banks say this, there will be strong growth in the beginning of the year and they will slow down at the end. Never happens though and prices just keep on rising.

I have now officially given up ever trying to buy a home in the UK. With prices rising at 50 a day I can't even save that much so every year even if I save off my salary I am still further away from buying a home. I missed out, I was born too late to get on the housing market.

Friday, December 15, 2006 12:15PM Report Comment

5. Dohousescrashinthewoods said...

Hang on a minute, if "true" inflation is in double-digits, then house prices have in reality been falling for some time.

Friday, December 15, 2006 12:48PM Report Comment

6. Cstanhope707 said...

Think this is correct in that I do not see a crash before 2008, I think the market could potentially increase by 8% next year, but the crash will follow we are now very close to the limits.

Friday, December 15, 2006 01:06PM Report Comment

7. george monsoon said...

I have a 5 year old child who would question the validity of this claim. Sustainable growth? I don't think so.
Gordon wants inflation right now to allow houseprices to appear to be rising, when actually all the extra wage increases will allow a few more people to saddle themselves with extortionate debt for life.

I really hate this government for what they are doing, I hate the estate agents for peddling their lies, I hate the banks for their complete abandonment to greed, and I hate the punters for their stupidity and also their greed.

Come on, lets see an unstoppable economic tide force this stupid market back down, a tide that cannot be hidden behind a barage of VI spin and government lies. Its long overdue and I don't care if someone says "it will affect you as well" the fact is We NEED this correction for the economy to stabilise, otherwise we are all in the SH**

Friday, December 15, 2006 01:08PM Report Comment

8. Cyril said...

I think this present period of mickey mouse economics will end soon, but I don't think you will get any stability george.
This country has always been in a boom and bust cycle, and clearly it still is. We just haven't quite reached the bust stage yet.

Friday, December 15, 2006 02:13PM Report Comment

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