Thursday, October 2, 2008

Comments Please

We Ain't Seen Nothing Yet

Nationwide claims we’ve seen the biggest fall in house prices since 1991. But actually, house prices haven't crashed – yet. "Assetz claims Rightmove figures can also be misleading, because there is evidence of sellers putting up asking prices, in anticipation of later negotiation by the purchaser." "Property company Assetz clearly has an axe to grind, but it does offer a more sober reading of the figures than most newspaper headlines."

Posted by housebear @ 07:56 PM (993 views)
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6 thoughts on “Comments Please

  • The man’s a fool! Or he’s reading last year’s papers. I would trust Nationwide’s figures over Assetz VI drivel any day.

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  • When prices were rising there were no compliants about the indices. Absolute drivel.

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  • The article doesn’t mention the spokesman’s name… pleease let it be Ztuart. We mizzed you loz geezer

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  • It seems like quite a balanced article to me however …

    I thought that it had already been established that Land Registry valuations have been distorted because some builders have not subtracted cash and other ncentives from the sale price:

    http://property.timesonline.co.uk/tol/life_and_style/property/buying_and_selling/article3409571.ece

    Reporting asking prices, as given by rightmove, is obviously going to report higher house prices than the reality. In many cases, if you can’t negotiate a 10% discount you probably not trying hard enough – and even then you may just have looped off the padding the estate agent added on in anticipation of haggling.

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  • Landedgentry says:

    His company must be fighting for dear life now and his portfolio must have taken the mother of all batterings.

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  • The VIs and sellers in the market would like to think that the housing market has ground to a halt and become frozen in time – in a perpetual limbo. People have stopped marrying, divorcing, trading up, trading down, getting employed, getting unemployed … everything. And that’s why prices are falling.

    The reality is that no-one’s lives have stopped, and prices are taking a hammering precisely because the market continues to function and continues to decide that housing is overpriced.

    A harsh reality for the media, estate agents and precious homeowners.

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