Tuesday, March 6, 2007

More evidence of property lunacy

Citywire

...Lulu Egerton of Chelsea estate agents Lane Fox who said: 'For the first time, I'm finding London prices quite extraordinary. Our hearts are in our mouths when we ask for them, but we still get buyers.'...also HPC mention at the bottom of the article.

Posted by webmaster @ 07:04 AM (464 views)
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4 thoughts on “More evidence of property lunacy

  • japanese uncle says:

    Speculative money escaping the US market may be rushing to the UK. It would not last long. Property market and stock market in the UK may be facing simultaneous meltdown. Had better not walking in the City unless absolutely necessary, as you may be hit by a falling objects that are stockbrokers/investers in dispair.

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  • financial planner says:

    Everyone post a comment below the (non)story and tell the financial advice and marketing people what’s going to happen.

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  • “The housepricecrash folk can predict that the end of the world is nigh but unless something very odd happens very soon, we might see much more of this lunacy.”

    Probably right as well.

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  • The absolutely terrifying thing is that Lulu says they still get buyers. She says,”demand for houses is hugely outstripping supply, and that has been the case for some time. People keep thinking that demand will choke if prices continue to rise, but interest rates are low historically and lenders are willing to lend increasing amounts, so at the moment a slow-down is highly unlikely”.

    I think this supply and demand thing has a bigger effect on HPC than a lot of bears will accept. Don’t be fooled by John Reid’s tighter criteria for new migrants, it’s little more than another Labour smokescreen and high levels of migration will not fuel HPI as a natural ceiling will be hit but high migration could maintain high property prices and cause long-term stagnation.

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