Tuesday, April 13, 2010

Could a hung parliment stall the property market?

Pre-election nerves put housebuyers off

Pre-election jitters are beginning to affect homebuyers, according to estate agents, who reported a fall in sales last month and the slowest price growth since July 2009. In March 9 per cent of surveyors reported a rise rather than a fall in prices — down from 18 per cent in February and 30 per cent in January, according to the Royal Institution of Chartered Surveyors (RICS) housing survey published today. The industry body attributed the slowing price growth to buyers being reluctant to commit themselves before May 6 and a simultaneous rise in the number of homes coming on to the market. The percentage of surveyors reporting a rise in new inquiries fell from 7 per cent to zero on the previous month.

Posted by quiet guy @ 01:33 AM (2829 views)
Please complete the required fields.



39 thoughts on “Could a hung parliment stall the property market?

  • IMHO, potential buyers seem to be waiting to see where interest rates are going. This will become more apparrent after May 6.

    A low SVR (under 4%) is good, but if it only lasts a few months…..A 3 year fix will cost 5% or 5.25% if you only have a 10% deposit. 5 year rates are about 1% more – (Halifax). That’s a big difference.

    Global IRs won’t be dictated by UK party politics, but the US and Euroland have said they are commited to restoring IRs to traditional levels. When that happens, the government of the day will influence the UK’s response.

    Reply
    Please complete the required fields.



  • So, we’ve had snow, Christmas, Stamp Duty (plus other excuses that I cant remember) and now the election as being the reason that no-one is buying.

    Read: There is no more credit left to fund the ridiculous asking prices.

    Reply
    Please complete the required fields.



  • I think the election may have something to do with it, but to be honest we are not buying at the moment because I think prices are still far too high. And I know this might sound really stupid but I actually quite like my landlady and although she has already got a bob or two, I would rather give her some cash each month rather than some greasy fat cat banker! Every penny that I can keep out of their fiddled system even if it is dead money is a penny well spent for me.

    Reply
    Please complete the required fields.



  • Didn’t the Sunday Times’ number one numpty David Smith say the day before yesterday that everything is just peachy in the pre-election housing market?

    Reply
    Please complete the required fields.



  • yes – the times is taking a Daily Express approach to journalism.

    And VIs will use every excuse under the sun – leaves on the track, cold weather, election, the olympics, re-runs of only fools and horses – anything to excuse why everything is not going their way. Everything except the fact that prices are too high.

    Reply
    Please complete the required fields.



  • happy mondays says:

    I have the pre election jitters aswell, thinking to myself which Muppets do i vote for? I feel i am handing over a loaded gun to people who i have no respect or trust for!

    “We can’t solve problems by using the same kind of thinking we used when we created them.” Albert Einstein

    Reply
    Please complete the required fields.



  • @5… I know what you mean. I’d like to vote for a party who can deliver a proper house price crash without a full blown currency crisis, but since they all seem to be hell bent on keeping houses unaffordable then it feels like I may as well vote for a hung parliament so we can get the thing over and done with once and fore all.

    Reply
    Please complete the required fields.



  • I am a “potential first time buyer”. As someone who has saved a reasonable amount as for a deposit, then “did the sums” I realized property is too expensive.

    I am on a better than average salary (not by huge amounts).

    It is amazing seeing all these reasons that I am not buying, when no one mentions the fact property is stupidly expensive.

    Reply
    Please complete the required fields.



  • mark wadsworth says:

    @ Happy Mondays, if you are luck enough to live in Uxbridge & South Ruislip you can vote for me 🙂

    @ Mr Flib, that’s the funny thing – the three big parties are all competing for the 60% Home-Owner-Ist vote, leaving the other 40% up for grabs. There is no reason to assume that an HPC would cause a currency crisis, but the reverse is true.

    Reply
    Please complete the required fields.



  • greenshootsandleaves says:

    ‘ Recovery In The Property Market Put On Hold As Nation Is Gripped By World Cup Fever
    (Estate Agents Report Difficulties In Arranging Viewings During Matches Involving England Team) ‘

    Reply
    Please complete the required fields.



  • @7. mark wadsworth…

    There is no reason to assume that an HPC would cause a currency crisis, but the reverse is true.

    You are not wrong. The higher they go the more we box ourselves in. The last time I looked we were already boxed in – by two large transits with only an inch gap either side.

    My main worry is how the crash happens. If the market was behaving correctly (like US or NI) then I would feel a lot easier. If the international money markets end up forcing our hand then it could be a real blood bath. Imagine a 15% base rate in the middle of the UK housing market – ouch.

    Reply
    Please complete the required fields.



  • Pre-election nerves put people off buying houses? My God! Maybe people are behaving sensibly at last?
    Why would anyone make a big investment just before an election with the country facing a financial crisis?

    Reply
    Please complete the required fields.



  • Wadsworth, 44 years old! I believe that the worry and strife of waiting for

    the elusive crash has taken its toll old boy.

    Take it easy on the run up my friend.

    Perhaps investing in a few filler sessions may pay dividends don’t you think?

    Reply
    Please complete the required fields.



  • tenant super says:

    Mark Wadsworth @ 7

    Sadly I do not live in Uxbridge. Neither of the two parties I could vote for in good conscience (UKIP and UK Libertarian) are fielding candidates in the People’s Republic of Southwark.

    I think our only chance is a hitman to rid us of Hariett Harman. What a hypocrite. We have a chronic shortage of primary school places in East Dulwich but her kids got into the best school naturally since they bought an expensive pad in the catchment. Her second child went to a Kent grammar miles away in a different borough, those are the same grammar schools her and her party’s ideologues loathe with avengeance. Her eldest went to the Oratory Catholic school, even though there are a dozen or more secondary schools closer. Ironic really given the attack on Catholic values enshrined in her so-called equality bill. She claims she won’t talk about these issues ‘at a personal level’, in otherwise, do as she says, not as she does. Perhaps next time she’s driving while talking on her mobile she won’t be so lucky with her safety; still, if there were an afterlife, hypocrisy and manipulation of the admissions process won’t get her and her greasy husband passed those pearly gates.

    Anyway, rant over. I suppose a limp-dim strategic vote is the only option.

    Reply
    Please complete the required fields.



  • If Labour are returned to office there will be a lot of houses going on sale as the go-getters with mobility decide to jump ship and move overseas .

    These are the very people the UK needs to retain .

    Reply
    Please complete the required fields.



  • mark wadsworth says:

    @ TS, if there’s no UKIP candidate where you are, then just join up and offer to stand. Always good for a giggle.

    Reply
    Please complete the required fields.



  • tenant super says:

    I’d love to but it may seriously harm my current employment prospects in a left-leaning organisation! When I finish my thesis and am back in my real profession, I may well stand (although it would be more likely for UK Libertarian).

    Derrick Penhallow stood for UKIP in 2005 so although this hasn’t been announced, he may do so again. If so I will definitely vote for him, the realistic aim being to help avoid another lost deposit.

    Reply
    Please complete the required fields.



  • tenant super says:

    … interestingly, it will be the first time I vote in this constituency, as we are one of the streets subjected to boundary changes. Last election, I was in Dulwich/ West Norwood which is held by the less loathesome Tessa Jowel and is a ward which could realistically be lost by Labour. Perhaps I will move back into my old constituency!

    Reply
    Please complete the required fields.



  • You had a sex change smugdog? Sounds like you’ve turned into a smugbitch!

    Reply
    Please complete the required fields.



  • @mark wadsworth – very best of luck Mark, genuinely hope you get elected as the country needs a change from the old flip flopping from Blue to Red and vice versa.

    Reply
    Please complete the required fields.



  • mark wadsworth says:

    Inbreda, JC, thanks.

    Reply
    Please complete the required fields.



  • the number cruncher says:

    Mark I am surprised you are taking part in such an obvious CIA/NSA front organisation. My fear of the Americans is far bigger than my fear of the Europeans.

    I should stand as a UKI(ofUSA)P

    If we had not been so heavily influenced by the cousins we would not be in such a mess with asset price growth.

    Reply
    Please complete the required fields.



  • So the link to Mark is real then, cool, I did wonder if it was just some random Mark Wadsworth inbreda had found on the net.

    Best of luck dude, nice to see you are someone who is trying to make a difference out there and not just moaning on a blog (like me) 🙂

    Reply
    Please complete the required fields.



  • letthemfall says:

    TS “Sadly I do not live in Uxbridge.”

    First time I’ve ever known anyone sad about that.

    MW @ TS, if there’s no UKIP candidate where you are, then just join up and offer to stand. Always good for a giggle.

    … or a lost deposit

    Reply
    Please complete the required fields.



  • That Mark Wadsworth. I hope you do well – and apologise for any past rudeness against UKIP.

    So far this feels like just another election, I desperately want it to be the earth shattering event it should be – that the encumbents deserve. Let’s hope for a really exciting election night with surprised heads rolling in all directions. If parliament doesn’t get a huge shake out this time then when will they ever.

    Farage up against the speaker, that would be a good start.

    Reply
    Please complete the required fields.



  • greenshootsandleaves says:

    [email protected]

    Doesn’t the real Mark Wadsworth mind you using his name as an alias on HPC?
    Seriously though, I may not agree with your every view but I wish you all the best at the forthcoming GE.

    Reply
    Please complete the required fields.



  • Good luck to you Mark W! I personally can’t stand the idea of either Labour or the Cons landing their bums in the butter.

    Reply
    Please complete the required fields.



  • the number cruncher says:

    Mark – would love you to be an MP and you would get my vote if I lived nearby (still think the UKIP harbours some undesirables)

    Reply
    Please complete the required fields.



  • tenant super says:

    All political parties harbour undesirables, it is inevitable when looking at large groups of people. I vote according to principles rather than personalities but would also consider a candidate’s adherence to their party and personal convictions. Even though I am totally opposed to socialism, I would rather have a real socialist representing me than a hypocrite like Harman.

    Reply
    Please complete the required fields.



  • letthemfall says:

    I understand that UKIP want to ban the wearing of Bercows in public.

    Hypocrites are welcome though I believe, so long as they’ve never been to Europe.

    Reply
    Please complete the required fields.



  • mark wadsworth says:

    Nomad, GS&L, Layers, TNC, thanks.

    LTF. The strange thing about Ukippers is that about half the ones I meet are married to Europeans (or from even further afield, which includes me) or have lived in other European countries (and that’s ignoring MEPs who spend a lot of time in Brussels). I’ve not met many properly racist ones so far.

    Reply
    Please complete the required fields.



  • yo wadsworth!

    you’ve been hiding your light under a bushel, you scallywag!

    New UKIP Treasurer appointed

    Tuesday, 22nd September 2009

    Mark Wadsworth has been appointed as the UK Independence Party’s new Treasurer.

    Announcing the appointment, UKIP Chairman Paul Nuttall said: “This is a vital job and I know that Mark is the right man to do it.

    “He will be stepping into the shoes of Marta Andreasen and building on the great success that Marta made of the job.

    “Thanks to the last couple of years with Marta at the helm, the party’s finances have never been in such a good shape and Mark’s experience as a Chartered Tax Adviser will put him in good stead.”

    Mr Wadsworth, pictured, said: “I am delighted to be coming into this role at this time. With the General Election only a few short months away the role of the Treasurer is vital in ensuring that our candidates and campaign team do what they do best, get out there campaigning.”

    Outgoing Treasurer Ms Andreasen said: “I wish Mark all success in his new role.”

    http://www.ukip.org/content/latest-news/1256-new-ukip-treasurer-appointed

    good luck to you fella

    Reply
    Please complete the required fields.



  • tenant super says:

    The Europe issue is one the jury is still out on for me. And I don’t support all UKIP policies, but it is their education policy that won my vote because it is the issue that matters most to me. I hope racism and xenephobia does not come into it for me and being half Cape Coloured and partnered with a foreign immigrant does not make me immune so I try to examine my motives.

    I was having a discussion with a friend recently who is probably best described as a communalist. He put the trouble with society and the economy on people like me, the self-seeking Thatcher’s children. I laid the blame at the feet of the dependency and lack of responsibility engendered by welfarism after the post war consensus. I have come to realise that policies from one end of the political spectrum alone are not to blame. We seem to be uniquely placed in a toxic brew with the worst elements of both. That’s why I think we need to move beyond the traditional left-right divide and beyond corporatism. My UKIP vote is a protest and I am prepared to shift my view onto a different proposal for the way we run things. The problem is that beyond academia, nobody seems to be offering a reasoned and practicable alternative.

    Reply
    Please complete the required fields.



  • @34 tenant super

    a good post in many ways

    (i’m feeling munifecent tonight)

    Reply
    Please complete the required fields.



  • TS: “The problem is that beyond academia, nobody seems to be offering a reasoned and practicable alternative.”

    You mean academia has the answers? Point us to them.

    devo
    Bit mean to stick mark’s fizzer up like that. Still, all publicity is good eh? When you’re elected mark, can I help write your speeches? How about something like this, just to show the electorate you’re not sleeping on the job:

    You kip if you want to….
    The gentleman’s not for kipping.

    Plenty more where that came from. We’ll be a famous team – like Gordon and Charlie. Offensive comparison I know, but better than Tony and Alistair.

    Reply
    Please complete the required fields.



  • a kipper fair for all

    Reply
    Please complete the required fields.



  • tenant super says:

    “You mean academia has the answers?”

    No, I mean certain academics and commentators are asking the right questions. The measure of good discussion is thesis, antithesis, synthesis. Not thesis, antithesis, thesis, antithesis, thesis, antithesis ad infinitum.
    To give an example, the traditional socialist view is that the State should own the means of production. The Capitalist view is that private ownership of the means of production is best. Critics like Noam Chomsky posit alternatives like anarcho-syndicalism. I am not an advocate of Chomsky or syndicalism, I am holding up an example where academics (not necessarily those in academic institutions) but those who are talking at the level of theory are moving beyond the socialist- capitalist debate. We haven’t seen the synthesis of alternatives into a political framework.

    Reply
    Please complete the required fields.



  • 38. tenant super said… The measure of good discussion is thesis, antithesis, synthesis. Not thesis, antithesis, thesis, antithesis, thesis, antithesis ad infinitum.

    that’th eathy for you to thay

    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>