Tuesday, May 31, 2011

House prices kept high by faith and belief

House prices 'to rise by 4% a year' (but recovery doesn't start until Christmas)

''A four-year recovery in house prices – driving them up by 4 per cent a year – is predicted to start by the end of the year. The UK property market has hit rock bottom and will begin to turn around ahead of Christmas, it is claimed. But the recovery will be slow rather than a return to boom and bust, according to the Centre for Economics and Business Research.''

Posted by hpwatcher @ 08:14 AM (1402 views)
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8 thoughts on “House prices kept high by faith and belief

  • Dead cat bounce or just a blip? UK’s love of housing seems set to continue.

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  • Thecountofnowhere says:

    Is this the “rock bottom” that is slightly higher than the “rock bottom” of 2 years ago ?

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  • @1. hpwatcher

    Would it be possible to make a daily mail projected graph so that we can all have a good laugh.

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  • Would it be possible to make a daily mail projected graph so that we can all have a good laugh.

    Tha Daily Mail tend to be more balanced abouyt housing. The Daily Express is the one that’s completely nuts……

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  • mark wadsworth says:

    @ HPW, surely it’s a DCB?

    Turnover is down by half, prices have fallen (a lot in some areas, not at all in others), and don’t forget that the UK government (both of Labour and Lib Con variety) have been throwing absolutely everything at bailing out banks and propping up house prices for the last four or five years (and they were doing their best to blow the bubble before then). I may be wrong, but I wouldn’t recommend buying a house in the UK for the time being.

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  • There was a real “expert” on 5live this morning… said the 2 things stopping FTB’s buying were inability to save the required deposit and fear of being rejected by the mortgage company… Absolutely no reference to the fact that houses are too expensive. How many people do they seriously reckon, when faced with a lifetime of debt for a shoebox, think “Oh I don’t want to fill the form in, in case they say no”?
    I’ll tell you what the 2 REAL reasons are…
    1. House prices are too high
    2. House prices are going to fall
    If these 2 weren’t absolutely certain then banks would be willing to lend. But they are, so they’re not.

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  • need-a-crash says:

    hpwatcher: as you say if the 2001 trajectory had continued ie. we hadn’t had the boom years, we’d still have ended up with house prices at the level they are now?

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