Monday, January 28, 2008

Woodford predicts 10% housing market correction

Woodford predicts 10% housing market correction

UK housing is considerably more exposed to a sharp pricing correction than most analysts have estimated Invesco Perpetual’s Neil Woodford has warned.

Posted by norflandon @ 11:51 AM (869 views)
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7 thoughts on “Woodford predicts 10% housing market correction

  • crash bandicoot says:

    “For example, some new-build flats aimed at the buy-to-let market are now almost unsellable”

    I think we all know that they are not unsellable, it is just a case of finding their true value.

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  • I’ve got 34 pence and a button?

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  • inbreda – are you trying to kick start the property market??????????????

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  • @inbreda – wait until end of Feb 2008 and you’ll get a Paragon portfolio of properties for 34p and a button.

    On a serious note however Neil Woodford is (following Anthony Bolton’s retirement at Fidelity) arguably the most successful UK fund manager and rarely makes a poor call – he has stated on several occasions that we are overdue a correction in repect of property prices.

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  • crash bandicoot wrote ”I think we all know that they are not unsellable, it is just a case of finding their true value.”

    I not sure the idea would even cross their minds…

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  • george monsoon says:

    Oh, I am sure it WILL cross their minds pretty soon. Just wait until they see the month on month drop in sales and media reports of “8% drop this month”, “10% drop” the next…. and so on.. and so on…

    Liverpool seems to be one of the worst places hit by this crash. The Dockland flats are all overpriced and unsellable, probably aimed at the BTL market. These are going to be selling at easily half their current market “value” by the end of the year, mark my words!

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  • @ g monsoon – a few people on here have recently predicted that the identikit flats in places like Liverpool are the slums of the future – I have a feeling they will be right !

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