Thursday, Nov 26, 2009

Reuters latest poll

Reuters: House prices set to rise gradually

House prices have probably bottomed but will only creep higher over the next couple of years as more properties come on the market and the economy makes a plodding return to growth, a Reuters poll showed. Average house prices are seen ending this year 3.4 percent higher than where they started, but will rise just 1.8 percent next year and 2.2 percent in 2011, the poll of over 30 analysts found -- a far cry from double-digit growth during boom times. The results in the poll conducted Nov 23-26 are generally more optimistic than predicted in the last Reuters UK housing market poll in September but comes after prices sank 16 percent in 2008.

Posted by jack c @ 02:21 PM (1309 views)
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1. Tabbycat said...

What utter rubbish this is! They do not see what is around the corner i.e. 2010 when all the lies start to evolve from MacBrown and the inevitable tax rises, inflation, intrest rates rises and not forgetting Public Sector job losses which is long overdue!

Thursday, November 26, 2009 02:51PM Report Comment

2. rumble said...

"We are a small island nation, with limited supply of homes" - that old chestnut.

No mention of ARMs, unemployment, and tighter lending. The economists all seemed to agree that hp/earnings is still too high. Mentions interest rates will rise, post election. No mention of in/de/stag-flation. (Nor hyper.)
I can see able buyers who've been playing it safe get back in, but to what effect?

Thursday, November 26, 2009 02:56PM Report Comment

3. hpwatcher said...

will only creep higher over the next couple of years as more properties come on the market

For years we have been told that limited supply pushes up prices, and now, that increased supply will push up prices......I smell a VI

Thursday, November 26, 2009 03:24PM Report Comment

4. will said...

If most people in the UK are priced out of the market again, then who will those that own property sell them on to when they cash in their chips? The ladder is broken at the bottom.

Thursday, November 26, 2009 03:35PM Report Comment

5. tyrellcorporation said...

I think Will you have to see the UKs 'property ladder' as something akin to a rope ladder below a helicopter. The chopper took off long ago and is now at about 2000 feet and is being buffeted by high winds. Only the people already clinging on have any hope of progressing up it and there are plenty about to lose their grip.

Thursday, November 26, 2009 03:59PM Report Comment

6. phdinbubbles said...

I was looking at the nationwide bullish/bearish opinion poll trend yesterday and came to the conclusion that the public seems to base their prediction of house price growth/falls for the next six months on exactly what happened over the previous six months. So their opinion means precisely nothing, except around half way between peaks and troughs when, like a stopped clock, it is occasionally right.

Thursday, November 26, 2009 04:10PM Report Comment

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