Thursday, December 6, 2007

A cut with no impact

UK property sellers will still need to drop prices despite rate cut - Rightmove

'There is still a rump of unsold, overpriced and unaffordable property on the market... and sellers of these properties must not think the drop in interest rates means they do not have to drop their asking prices,' said Miles Shipside, Commercial Director of Rightmove.

Posted by confused76 @ 05:56 PM (995 views)
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4 thoughts on “A cut with no impact

  • ‘There is still a rump of unsold, overpriced and unaffordable property on the market… and sellers of these properties must not think the drop in interest rates means they do not have to drop their asking prices,’ said Miles Shipside, Commercial Director of Rightmove.”

    But some of these sellers will. It will be autumn 2005 again fro some, hooray the BoE have come to the rescue again, all is well in the housing market again, boom boom awayyyyyyy !!!!!!!!!!!!!!!!!!!

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  • tyrellcorporation says:

    If this cut turns sentiment to ‘full speed ahead’ again we’re doomed and might as well leave the country. This carousel has worn me out.

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  • LloydsTSB managed to be pretty sharp on the news; they cut the interest they pay on one account 3 days before the announcement… or maybe they just got the email ready just in case…

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  • As a physicist, TC, I know that if a carousel keeps changing direction there is a lot of change in momentum. I suspect the bearing in the motor will wear out soon

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