Tuesday, December 23, 2008

Looks like time to turn up the HPI heat again

Found: flats where prices are actually on the rise

This is the second article in this paper today ramping the market, obviously preparing for the widely expected New Year bounce, bloody great, just when vendors were beginning to see sense. Looks like we all have a little longer to wait before we can actually be allowed to buy an affordable property, especially in the gold paved capital.

Posted by bystander @ 01:51 PM (1541 views)
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10 thoughts on “Looks like time to turn up the HPI heat again

  • This article is rubbish! A very crude attempt to lift the market. Who in their right mind would want a 1 bed flat south of the river! The developers can afford to raise the price by 10%, 50%, and even 100% but if no one walks through the door to buy then it means nought!
    Developers need to drop prices by 40-50% just to get people to view that’s how far gone the Market is!

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  • Rotherhithe, ha ha ha, no chance – 250k – this is a wind up

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  • Might this be the same as consumer trade down, just like McDonalds initially fairing better until all are screwed down further?

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  • Never forget that the ES is owned by the Daily Mail.

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  • What sensible person would believe this? Just more scumbags with their heads in the sand trying to talk up their own books.

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  • ontheotherhand says:

    Liberal and free use of the word ‘sold at’ being used here. All it means based on their massive sales of ‘one or two a week’ is that they have upped the asking price to above the stamp duty threshold to make punters feel special for ‘negotiating’ it back down again. Title of the article could easily be, ‘Asking price of one flat raised slightly to get news headline on slow news day’.

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  • Cheekie Charlie says:

    There ‘ll be no dead cat bounce this time, it’s going to go with an almighty splat!

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  • little professor says:

    Asking price of £254,995 is a joke – they know no-one will pay that just over the stamp duty threshold. It’s clear they just inflated the price so they could offer ‘discounts’.

    Even the title of the article is a con – far from saying prices are on the rise, the Barratt spokesman said prices in Rotherhithe were down by 10 to 12% compared with a London average of 20%.

    Oh, and tc – “can anyone imagine anyone wanting to get into debt when jobs are being lost hand over fist” – have a look a few articles down for the story of Connie Allfrey, the 27 year old blonde daddy’s girl, who earns £23,000, wants to take out a 10x annual income mortgage to buy a flat, interest only, using daddy as a guarantor, and depending on a lodger to meet the monthly mortgage payments. Never underestimate the stupidity of the British public.

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  • nopensionnohouse says:

    “Local agents say the flats have been snapped up because of the location opposite Canada water Underground station”

    Agents plural? 1 or 2 sales per week? Hmmm. Something doesn’t quite add up with this article… and it’s not just the numbers.

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