Wednesday, April 11, 2007

No end to rising house prices

No end to rising house prices

The UK Property market looks set to remain strong, a leading property expert said today. John Wriglesworth, founder of the Wriglesworth Consultancy, said that he can see no end to rising House prices in the foreseeable future.

Posted by sonic @ 12:56 PM (997 views)
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12 thoughts on “No end to rising house prices

  • I would agree with him, solely on the basis that money lenders are year on year increasing the amount they are willing to lend you and people think that it’s a good idea to buy one to live in, and rent the other one. there’s no massive increase in demand, and nothing is actually being made. foolish people at the top mewing, and people in the middle going up the property ladder.

    All are a valid reasons to see increase in prices. infact I don’t see why government doesn’t just stick interest rates at 0%. then we can all get massive loans to keep boom going.

    Remember folks, your model is only as good as the data you ‘decide’ to put into it.

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  • This is what the same guy said to the BBC in 1999: “John Wrigglesworth, a former Bradford & Bingley director and now managing director of Wrigglesworth Consultancy, believes that “while it is not a 1980s boom, it is still a boom”. His view is that building societies downplay their price forecasts, out of fear that that the government might raise rates.”

    Bit of a change of tune?!

    I can’t find out who or what The Wrigglesworth Consultancy specifically is or does mind you, so this article really says, “Some bloke reckons prices will go up and up forever.” The fact that “some bloke” seems to be a total numpty doesn’t seem to matter – e.g. borrows lending 6 times income simply means people can BORROW more, not that they can necessarily AFFORD it. It’s also more difficult to “release the equity from your home in order to buy more expensive homes” (the rest of us call it “moving house”) when prices are higher, not less difficult, because the rungs of the ladder get stretched. Wally (or badly mis-quoted)!

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  • Another thing on hot property

    http://news.hotproperty.co.uk/Loft_conversion_could_cause_house_prices_to_go_through_roof_18111404.html

    Loft conversion costs £25k and you get £145k!!!!
    Just look at the figures. Does that sound right? Well I am in the process of buying a 3 bed house for £410k in Kingston upon thames and there was one in same street identical but had loft conversion with large dormer – sold for £465k. Also since when does a loft conversion with dormer only cost £25k, £35k to £40k if far nearer. Looks like Alliance and Leicester are being a bit over optimistic….

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  • Sarah Harris says:

    ‘House prices would stay high, thanks to relatively low interest rates’.
    …..Thanks so much, I already cant afford a mortgage, well, I could take out a rediculous one and be a slave to debt for the next 50 years, thanks sooo much.

    ‘with many more people releasing equity from their homes to buy more expensive homes or help their children get on to the property ladder’
    ……What about those of us whos parents arent together, and are already struggling with their own debt and mortgage payments?

    Apparantly Basic affordability remains good? Who are they using as an example as i’m cartainly not one, nor are my friends who are also struggling with mortgage repayments. These kind of sweeping comments make my blood boil. Im resigned to the fact that im going to rent forever with people like this ramping the market up for his own gain. Rant over.

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  • ……… and the Captain of the Titanic said “Iceberg? What iceberg?……..oh no, sir! That! That.. is a large ice cube that we have brought along to cool beverages for you and the other passengers, if you should wish it.” ……………………..

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  • Define the forseeable future, you slippery f###er!

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  • This bloke is a total idiot. I’ve read his comments before. He’s a big ego who prides himself on being ‘controversial’. Come a crash he’ll claim he saw it coming.

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  • I’ve tracked them down – they’re a PR firm! So the article is from “Mr Some Bloke who is working on behalf of the housing industry and getting paid £millions to talk up the market”!

    “The Wriglesworth Consultancy – Our strong experience spans all matters related to PR, including financial results, investor and analyst relations, corporate activity, company and product launches, ongoing corporate image management, and product promotion and brand building programmes.”

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  • Surely this site isn’t simply a market shill? With a name like hotproperty.co.uk? Or is bad news handled by its sister website, coldproperty.co.uk?

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  • Sorry, me again, I love this soo much – clients of this guys company include:

    The Association of Homepack Information Providers, Allied Surveyors, Assetz, The County Homesearch Company, The Homebuyer Show, Hometrack, PrimeMove.com, PropertyFinder.com, the Property Investor Show and SmartNewHomes.com, to name a few!!

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  • What a baffoon!!!

    Yes interest rates are low but debt is 3-4 times higher and as a result we are in a worse mess than ever before as a country. These people should be jailed for such blatent and dangerous rubbish

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