Friday, September 4, 2009

The property market is improving steadily, but trading up is proving tricky for many buyers.

Moving house is hard to do

Looks like market is picking up, better get on the boat!!

Posted by kp @ 09:23 AM (1485 views)
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19 thoughts on “The property market is improving steadily, but trading up is proving tricky for many buyers.

  • kp you’re back!

    Another slow day at the agency? No viewings today (again)?

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  • KP…..got one in the office just like you…. keeps ferreting away “think you have missed the boat now matey” Feckin net curtain Nellie….always asking if I have had my rent adjusted, “when will I get on the boat again”… With me, it’s not missing the boat that matters… I caught the boat many years ago and got off before it started taking on water, with suitcases full… I may not get on till a little late but I sure ain’t missing anything….. things have a long way to unwind in the coming year…a very long way…. and I sure ain’t buying a shoddy cardboard shoebox, just like the weasel in the office…. Now are you sure you ain’t Corky in the office KP? 40 and still spotty with ginger hair…. horrible little creature…

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  • wow, bluebeach….KP sure has hit a raw nerve there! Careful KP, some delicate types on ‘ere!

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  • I must say I’m impressesd by the in depth analysis and the weighty evidence you use to back up your assertions kp.

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  • too much venom guys!! Why do you absolutely hate anyone who thinks house price are going up!! I personally do not own a house nor i am an estate agent but i just wanted to see the feedback whenever i say something contrary to house price crash. Is it because you guys want to get on the ladder and cannot? Please enlighten me why you are so filled with hatred with people with houses or estate agents.

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  • I read this article and smiled too. What do you expect from a business that needs customers? But I thought onwards… and I’m sure readers think this too.

    Telling is the headline: It’s hard to move up.

    That means it’s easier to move down – and payback your previously easily got huge mortgage you can’t afford. Look at the stats – people are paying back lending….

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  • Mind you, this is from Judith Heywood – one part of the duo that was (going to be “The Brick Chix”.

    When the property downturn got going though, they quickly turned into “The Bricking It Chix”.

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  • Only a few months before stamp duty returns – so the dismal increase in volumes we are witnessing is the “stampede” to get on the ladder. Brakes will be on again soon.

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  • Two key phrases in this article:

    1) “Lack of supply”
    2) “buyers and sellers just want to ‘get on with their lives’.”

    Well if sellers do shouldn’t supply be greater? The same argument as was being argued by the bulls during the down trending market applies now…

    “Pent up supply.”

    Sorry kp, just because agents are cheerier due to a recent advantage of active sellers over active buyers does not imply this situation will be maintained, if anything it means more of that pent-up-supply will be released, bring prices back down ( although I conceed that this in itself does not necessarily imply lower prices that the recent low, that comes down to funamentals, and the timing will be dependent upon market distortions, such as how long BoE can keep the short end of the yield curve so low ).

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  • better get on the boat!!

    What a big idiot.

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  • The boat can’t sink unless it hits something, so there aren’t enough lifeboats. When it does hit something, no-one will be able to rescue those on board in time. Most of those who don’t go under, will be left with very cold feet..

    ..now, what could that boat be called?

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  • Can we all just agree not to grace kp with intelligent discussion? He clearly doesn’t warrant it.

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  • Agreed! I have no problem with with Bulls – happy they are here but when they act like they are playing “it” in the playground and cant engage – either through lack of intellect, vocabulary or being able to support their case (most likely all three) then as jackas says its a bit pointless.

    We had kp post about a £60m placing for Bovis the other day, so they can pay for some more land (although we could speculate what it might end up being for). He followed that with a “wow”. Wow? What is he on about – £60m is lose change. Some of the Wall Street boyz earn more than that each year!!!

    I call him “id” – idiot is too long a word.

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  • techieman, you are a genius!! you seem to think you know everything, all i have seen you on each post is slating of anyone who says anything against house price crash without applying a bit of “intellect”. I def. know you have a vested interest in property crash. In fact most of you have vested interests in property crash, but i have to say a few actually have some valid points that make good and real economic sense. On the Bovis case, you need to examine your brain a bit and see what their market cap is first. Hang on, you probably do not know what the term “market cap” means. Anyways once you ve added a brain cell, i will tell you that it represents the valuation of the company’s equity. The market cap of Bovis is 600 million, so to raise 60 million through equity is pretty big deal for them(10%). Still do not understand your point about people in the city earning more than 60 million? What has bovis got to do with them? With 60 million, you could buy decent acres with the valuation of the land 20% down from the peak (in some areas by 40%). They think the valuations are becoming more real and it is a good entry point back in the market to build houses once again.

    BTW, there is a book on amazon called “economics for dummies”. may be you should buy one?

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  • TM

    – id as opposed to ego? ;p [ rhetorical ]

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  • How can you miss the boat when all the water’s drained out of the harbour?

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  • crash bandicoot says:

    letthemfall, when the boat is high and dry?

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  • “too much venom guys!! Why do you absolutely hate anyone who thinks house price are going up!! I personally do not own a house nor i am an estate agent but i just wanted to see the feedback whenever i say something contrary to house price crash. Is it because you guys want to get on the ladder and cannot? Please enlighten me why you are so filled with hatred with people with houses or estate agents.”

    I own a house – why would I hate myself? If I was you, on the other hand, I would probably say I owned two houses – but the bank owns a portion of the other one so I don’t. Despite the fact that I own a house I can still see the enormous damage done to the economy and to individuals by the housing bubble and very much welcome the correction. I do have a vested interest in wanting to buy a nicer house too (paid for by our earnings), however I have no interest in this Country returning to the feudal age and neither will the majority of the population. Seeing as we live in a liberal democracy (which should not be underestimated in discussing the cost of housing), even if economic forces didn’t force the correction (which they will) then a change would be forced by the democratic process in time. Whichever government comes in to power next is going to need to raise taxes (incidently increasing the mounting downward pressure on house prices) – If I wanted to make myself less unpopular as an incoming government, I’d start by taxing those generally perceived to be responsible for the mess we’re in – second home owners (so that would include me then), the city, etc. The game’s up mate – the big fat lady has her make-up on and she’s about to enter stage left.

    The venom’s because of the idiocy of your arguments and the grim future of this Country and our childrens’ prospects in the world, because of people like you that think you have some kind of divine right to profit from the future income of other people whilst doing nothing yourself.

    “Looks like market is picking up, better get on the boat!!”
    So that was your attempt at engaging in intellectual debate was it – and if you don’t own a house why aren’t you on the good ship then?

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