Wednesday, January 16, 2008

House prices past the brink in truth

House prices 'on the brink'

On the front of the London Metro this morning. I was loathed to "read" it, but at least the dummy hacks are turning their tune, as I'm guessing a lot of EAs & property development companies are pulling their ads, thereby reducing the vested interest angle.

Posted by doomwatch @ 01:15 PM (1294 views)
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9 thoughts on “House prices past the brink in truth

  • This is an excellently misreported story – a testament to the quality of British journalism (or should I say copying press releases?). Myfinances.co.uk says “House prices have tumbled to a level not experienced since the early 1990s, a survey of chartered surveyors has found”

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  • It was a joy to ride the overcrowded tube this morning looking at hundreds of people staring at the metro front page!
    Very very few were smiling. I live in a part of London turned into BTL-land over the past 3 years. Watching this mess unfolding is going to be fun!!!

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  • Nice to see this headline on the front of a free rag.

    Now let the mayhem begin!

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  • The mayhem will really begin when this type of headline hits the front page of The Sun & The Mirror

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  • Yes the Mirror and Sun readers , They were probably the last in (BTL), and are going to be the first out.

    The smart money already left the building a long time ago.

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  • Confused – you may be right but nobody ever smiles on the tube anyway!!

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  • ”It was a joy to ride the overcrowded tube this morning looking at hundreds of people staring at the metro front page!”

    I agree….coming in this morning was great!

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  • It’s to be hoped that the multi million pound houses in Sandbanks are unaffected by all of this Metro headline malarky now that Piers has hit top spot on TV with a property show.

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  • You know the market is going down when Estate Agents write mailshots to their databases telling them “The outlook in our opinion is not bleak and whilst we predict lower transaction levels, we are equally forecasting growth in house prices” (Savills) and from another agent (Ashington Page, Beaconsfield) a leaflet entitled “Selling you home in a cooling market” which contains advice about looking at the development potential of your property. Presumably to try and tell your buyer that the house is worth more than what it is due to what it might be. Lucky mailshot people can call the 0845 line and get their free “reports” mailed to them. It would save a lot of direct mail of chlorinated paper to simply say “we need more business” and stick it on the websites – which of course are curiously silent about the advice. Desparate times need desparate measures.

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