Wednesday, April 15, 2009

‘Interest is strong in every region’

Key indicators show signs of improvement

More green shoots. Spring recovery. HPC cancelled. Or just a dead cat bounce?

Posted by p. doff @ 04:58 PM (1577 views)
Please complete the required fields.



10 thoughts on “‘Interest is strong in every region’

  • Classic bull trap situation. The worst is still to come. Anyone buying now needs their head examined. All you need to know about housing in the UK is that it is a massive pyramid type ponzi scheme on which the UK economy depends for the illusion of growth and which maintains deliberately inflated prices in order that the masses are forced into a lifetime of mortgage slavery and thus forced to do the grotty jobs the ‘elite’ won’t do. The Government and the powers that be will do everything to try to maintain this situation as the false economy and the social/wealth pyramid depends on it, but this time the outcome will probably be a hyperinflationary depression.

    Reply
    Please complete the required fields.



  • The most prominent of their key indicators still seems to be new buyer enquiries. This, of course, is a nonsensical indicator – of course more people are going to be looking at the estate agents windows (or enquiring about prices):
    1) prices have fallen, so naturally anyone who felt they were priced out may have a peek now
    2) mortgages have become more attainable, so those who were unable to get credit find it is now possible and have a peek
    3) the general outlook is poor (plus humans naturally assume trends) so those who are thinking about selling may go and take a peek (of course they are going to tell the agent that they are a potential buyer as they’ll get a better view of the market and probably more attention too!)

    Sales to stock ratio may well be increasing as those attempting to sell find tenants instead and others find that their property is repossessed and the house is taken off the agent’s books. Same goes for new instructions whilst this is also only half the story.

    I think their headline should read ‘Key indicators show signs of a pause for breath’.

    Reply
    Please complete the required fields.



  • The difference between strong interests and economic demand is — money.

    Personally, I’d love to buy half a dozen prime properties. But I don’t have the money and nobody will lend it to me.

    As George Galloway said so memorably in his Senate testimony
    “What counts is not the names on the paper, what counts is WHERE’S THE MONEY, SENATOR?”

    Reply
    Please complete the required fields.



  • watchingthewheels2 says:

    whoops…….wrong comment to wrong article….sorry.

    Reply
    Please complete the required fields.



  • As far as RICS are concerned, increasing volumes is more important than stabilising prices, and just because interest is picking up, doesn’t mean prices won’t continue their downward track. Of course interest will increase as prices go South – look at the New Year sales in retail. If you are only making 1 or 2% of a sale price, a drop of 2% in sale price means naff all – but doubling transactions would be heavenly. Of course they are putting their VI spin on it but HPC definitely not cancelled!!

    Reply
    Please complete the required fields.



  • mark wadsworth says:

    Neither. It’s a dead cat that’s been shot and is going green. And bouncing, presumably.

    Reply
    Please complete the required fields.



  • @timmy t
    Quite right. Intermediaries get paid on volume more than price.

    Reply
    Please complete the required fields.



  • @timmy t
    Quite right. Intermediaries get paid on volume more than price.

    Reply
    Please complete the required fields.



  • Grumpy Middle-aged Git says:

    51ck-6-51x has got it spot on – these RICS figures are hopelessly flawed as there are too many variables. I am guilty of registering with about 7 agents in the last 3 weeks but I have no intention of buying until prices have dropped a good bit more – I am merely sussing out the market – nevertheless someone is interpreting my actions as an upswing.

    Reply
    Please complete the required fields.



  • “More green shoots. Spring recovery. HPC cancelled. Or just a dead cat bounce?”

    Certainly not the first three, and (at the risk of looking pedantic..) not really the fourth either.

    Whilst i’m more than a bit loathe to quote Greenspan, his phrase ‘irrational exuberance’ pretty much sums it up..

    Reply
    Please complete the required fields.



Add a comment

  • Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
  • Please note that any viewpoints published here as comments are user´s views and not the views of HousePriceCrash.co.uk.
  • Please adhere to the Guidelines

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes:

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>