Wednesday, January 9, 2008

Vested Interest Spin

Property slump? House prices in London just keep going up

Andy Smith of 1st Property Investment Ltd said: "In addition to the established markets, many emerging areas of London will experience capital growth this year, such as regeneration areas in Romford, Woolwich and Barking." Here is a clue to the reality: "This year has started surprisingly well with plenty of new buyers coming into the market and plenty of offers being made, although very few actually agreed."

Posted by alan @ 08:26 PM (938 views)
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9 thoughts on “Vested Interest Spin

  • 8ollocks!

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  • @new_order – I whole heartedly agree, a friend of mine suggested to me today before I left work (it is general knowledge on my floor that I sold to rent, they ‘the herd’ have been constantly taking the p*ss out of me as prices have continued to rise over the past 18 months since I sold..) that whilst in the pub earlier with his estate agent chum the EA insisted that they have been very busy since the christmas break with new enquiries etc PATHETIC! THEY ARE ATTEMPTING TO SPREAD POSITIVE SENTIMENT…. it’s very desperate and can only be interpreted as ‘Foxtons last stand!’

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  • “plenty of offers being made, although very few actually agreed”

    It sounds like buyers are turning up to view a house without having a mortgage approved in principle by a bank. No doubt they just assume they’ll be able to borrow whatever they want, so they put in an offer. When they go to the bank and find out they can’t have the mortgage, the sale falls through.

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  • it_is_going_with_a_bang says:

    What else would someone who is introduced as “Andy Smith of 1st Property Investment Ltd ” have to say.

    Please ruin me by not spending huge wads of cash?
    This years has started suprisingly well???

    What in 7 days he has had loads of business? and conversions to sales – in 7 days????
    Nonsense.

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  • Oh, and no doubt the ‘herd’ will be back on my case again come tomorrow lunchtime, by which time Merv the swerve and his gang of yes men would have lowered interest rates….!

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  • Loneranger – show your colleagues the news item that has just been posted on here about the ‘no reserve’ auction in Florida. If it’s happening in Florida now it’s coming to the UK soon. 6 months ago the only people in the UK talking about ‘sub-prime’ were all on this site, now it’s the buzz phrase of the moment.

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  • @Wiltshire

    “Sub-Prime” has been voted “Word of the Year” in the USA (as stated on ABC TV).

    The Evening Standard article is little more than an advertisment for the large amounts of property which are advertised in the paper. The companies quoted advertise regularly. It’s a pity the Standard can’t get the names of the contacts right – Rightmove can’t be happy.

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  • to LoneRanger,

    I am registered with Foxtons, They keep ringing me up to look at new Properties, I looked at on in Aug 2007 for 340k. I quizzed the Neg. if an offer of close to 300k will be accepted and he advised to put it in writing.
    That property is currently on the market with Foxtons for £304k.
    The location of the property was the Docklands with the Canary Wharf office.
    Hang in there LoneRanger. Even London prices are currently going down – That is the Reality. VIs are living in Cuckoo land.

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  • “plenty of offers being made, although very few actually agreed”

    Or the offers are realistically low.

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