Monday, June 21, 2010

June 2010 Report

House Price Index

Miles Shipside, commercial director of Rightmove, comments: “They say that troubles come in threes. The continuing mortgage famine has now been joined by a surge in sellers following the abolition of HIPs and investor reticence driven by rumours of CGT increases. Together, these factors are likely to put an end to this year’s recovery in house prices. It is an unfortunate concatenation of events that disrupts what was sort of passing as normal service, where investor appetite provided an uneasy balance to the first-time-buyer-starved market. A surge of HIP-free properties has come to the market, and mortgage-reliant buyers and wary investors are failing to match the increased supply.

Posted by dill @ 09:41 AM (1915 views)
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6 thoughts on “June 2010 Report

  • Is it not the case that if the investors cannot see a quick buck in the horizon then they are not going to invest. Everybody wnats to make money fast forever. What I do not understand is that when there is a winner then there should be a loser ! Ah but QE that increased the money supply to keep the party going or should I have said kept the party going. I hope the new government put’s an end to all this rubbish of higher prices is good for property.

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  • Exactly as you say, why do house prices have to go up.. What’s the point? We all have to live somewhere, why are people so greedy. Estate agents are the worse people in this, with wanting their cut! You live in a house, you want to move, then just sell your house for goodness sake and be happy, a little profit from cost of living is good enough; why try and make money from something you live in and more likely then not, have decided to move because there is a problem with your house or neighbours and someone else comes in to ‘buy’ all your problems and you get into a deeper mess!!!! Mad! People should stop being so greedy, but they never will will they!!!!

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  • What would Estate Agents prefer: Quantity or High Prices? They clearly can’t have both.

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  • ontheotherhand says:

    Wow! It looks like all the factors are lining up for a crash. I’ve never seen such negative commentary, even pointing out that inflation eroded all the nominal gains last year.

    I think, however, unless interest rates go up or unemployment goes up, or banks and Developer companies have a problem rolling their debt, this will just be a temporary blip. Sellers are trying the market for free without having to pay for HIPs. When they don’t get their price they will sulk off and put the mortgage repayments on the credit card again.

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  • @2 +1

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  • Problem is, lots of people are so thick they see rocketing house prices as “normal service” (as Miles Shitside says). I am completely taken aback at such collective stupidity. High house prices do nobody any good, I long for this to become the accepted attitude….

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