Saturday, March 20, 2010

Its looking good!

General Election 2010 and house sales: How to avoid a hung property market

Last week’s report that the housing market could be facing a double-dip recession, with March showing the slowest rise in prices for eight years, is hardly buoying to the spirits. To add to our woes is the impending election, which, experts predict, could bring the housing market’s traditional spring sales-fest to a complete halt. Rightmove, the housing website, says that the rise in prices in England and Wales was the lowest it has ever recorded for the month, in part because of a surge in people putting their home up for sale. While that could be a nightmare for anxious vendors, lucky buyers could get a home at a bargain price.

Posted by waitingtobuy @ 10:50 AM (2457 views)
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10 thoughts on “Its looking good!

  • HOUSE SELLING ADVICE

    “Sellers in an uncertain market should do three things,” says David Adams of Chesterton Humberts estate agency. “They can have more open days, have larger and better brochures, and finally they should get the agent to take out more national or regional advertising.”
    There is a 4th thing that will definately get results DROP THE PRICE!

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  • Camilla Dell, buying agent, Black Brick “If Labour wins, it’s possible that prices will go down. Some high net worth individuals may relocate and move out of the UK as a result of tax rises.

    “But if it’s the Tories, prices may also fall. They are likely to cut public spending more aggressively than Labour

    Sounds very one way to me.

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  • They will need to drop a long way before you can get anything close to a bargain.

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  • markj69 str05 says:

    A bargain has got to be around 3x your salary. A very long way to go yet for the majority of people not getting a ‘banker’s brucey bonus’.

    People seem to be soooo used to the high prices, that they get excited over the smallest drop. Wake up general public – ‘Houses are unaffordable’.

    It’s just another factor that’s impacting on our countries society (In a negative way). The sooner we get back to realistic values the better.

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  • mark wadsworth says:

    … is hardly buoying to the spirits.”

    ? Cheered me up.

    Markj69, high prices are not just bad for ‘society’ (in a vague hand-sweeping sort of way) they are bad for the economy, as are indeed rising prices or falling prices. The best thing is low and stable house prices, that’s best all round.

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  • I find property articles seriously tedius now, more so than ever before. When prices are rising it’s ALL fundamentals, when they are stagnant or falling it’s something else. Besides, only ‘the public’ thinks something is a bargain because prices have dropped X%.

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  • I always thought that something was a bargain only when it was FREE, otherwise it is not a bargain unless you can flip it quickly to make a quick buck. To me that is called “Business” or as I used know it as a “Barrow Boy Theory”.
    Does anybody agree with me ?

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  • mark wadsworth says:

    House: “I always thought that something was a bargain only when it was FREE”

    True. You’ll never get bricks and mortar for free, but there are times when the cost of a second hand house is less than the cost of building a new one, so by subtraction, the land element is free (or possibly even negative), that’s a good time to buy and a good time to introduce Land Value Tax, because X % of nothing is still nothing, so nobody has to pay tax until prices start rising again.

    Which would put a whole new slant on conversations at people at dinner parties:

    Diner 1: “The house next door to mine just sold for twenty per cent more that I paid for mine a few years ago.”

    Diner 2: “Oh poor you, can you afford the hike in Land Value Tax?”

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  • What is this nonsense? Out of all the factors affecting the housing market, the election is the least of them. It matters not a jot whether Tories/Lab/Hung parliament comes in, the sums don’t add up and there will be cuts. Snow..election..what’s next?

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  • landofconfusion says:

    “Which would put a whole new slant on conversations at people at dinner parties:”

    Interesting. Why not increase the LVT when the owner comes to sell? And include the change (the new LVT) in the HIP?

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