Saturday, July 12, 2008

the 3Ps

June House Price Index: Sellers make house prices more attractive in June

Based on circa 90% of newly marketed property, the House Price Index is the leading indicator of residential property prices in England and Wales...

Posted by fjcruiser @ 02:22 PM (1311 views)
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5 thoughts on “the 3Ps

  • ” Sellers make house prices more attractive”
    ” Sellers begin to slash prices in scramble for the exit” more like.

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  • it_is_going_with_a_bang says:

    Right now the small reductions look like polishing a Tu*d.

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  • down 1.2% for June against up 0.8% last June from the preious month.

    I guess this is the first sign of owners realising they may not be able to sell a house with the (It was worth this much last September therefore I will only sell at that level) attitude. Combined with valuations from starving estate agents.

    The 1.2 % reduction is effectively irrelevant, but it’s the direction at this time of year that’s important.

    I suspect we will see these asking prices falling now most months.

    I also expect to see the momentum in monthly asking price falls gather pace.

    The best places will always sell (at the right price) but for 85% of houses price reductions will be the only way forward.

    As the news gets worse (which it will) we will start to see more ‘urgent’ sales taking place and faster falls in asking prices as people will just want to get out with something rather than loose everything.

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  • pissing into the wind. A HPC and recession are now inevitable.

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  • “Sales are still happening, and there is a pent-up demand for the
    right properties at the right price.”

    I see the usual “pent-up demand” argument has been presented with a caveat. It’s about as useful as saying “There are still people buying houses.”

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