Tuesday, April 7, 2009

No

Is it time to go back into property?

Stelios Haji-Ioannou, the founder of easyJet, is calling the bottom of the property market. Optimists are starting to see green shoot appear amid the scorched earth of Britain's property market. In March, house prices rose by a modest 0.9%, according to Nationwide - the first price rise since October 2007. At the same time, the Bank of England released figures showing that mortgage approvals jumped by almost a fifth the month before. The international buyer is focused on the truly international market, whether it is St James's, Mayfair, Belgravia or Knightsbridge. This had led to a severe restriction of supply, as vendors hold off selling their prime assets at what they perceive to be the nadir of the market.

Posted by little professor @ 12:54 PM (4194 views)
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12 thoughts on “No

  • It’s a mad world when you are safer out of a house than in it.

    An Englishman’s home………….

    Hey, it’s all good and perfectly normal. Let’s go hell for leather to keep the Status Quo..

    Never mind home sweet home I want to know what happened to Sweet Caroline!

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  • Fionnuala Earley dampening expectations. Go Girl!

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  • In a word, no.

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  • In one word, no.

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  • waitingfor hpc says:

    in two words no way!

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  • Who are they going to roll out next to call the bottom?

    Tony Blair? God?

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  • Commercial property has fallen 40% in sterling. That’s presumably 50-60% in dollars or euros. I can see how this might look attractive to overseas investors.

    However the forward-looking fundamentals for shops and offices are bleak. When the hedge funds close down and Mayfair becomes a ghost town, which businesses will move in to pay the high office rents instead? Retail CP looks grim too – as one commentator on here said a few months ago, “Is now really a good time to open a nail salon in the Trafford Centre?”

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  • Rich international buyers? Don’t forget that the world’s billionaires have lost over $2 trillion between them over the last 15 months or so.

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  • Stelios – One trick pony.

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  • “No” – Good Answer!

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  • bidin'matime says:

    Great strategy Stelios – announce your intention to buy well in advance – stupid or what..? Or is he fibbing when he says he has nothing to sell…

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  • Greenshootsandleaves says:

    Stelboy must have forgotten to tell the journalist he was speaking off the record. It happens to the best of us, but don’t worry, folks, he won’t have made life too difficult for himself as a result! There’ll still be plenty of ‘bargains’ out there whenever he decides to take the plunge (not yet a certainty if I read the article correctly).
    So, the answer to the question is ‘no’, not only now but also on the next umpteen occasions it is put to us, the public, by these and other propaganda merchants.

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