Monday, June 20, 2011

Vendors “romp away from reality”. Brilliant.

Asking prices rise yet again to new June record

'Altogether, asking prices for properties coming on to the market have risen 8.1% or an average of £17,984 this year.' The delusion index is looking more and more robust each month; I do wonder if there's an inverse correlation between levels of delusion and the parlous state of the publics' finances?

Posted by sibley's b'stard child @ 10:21 AM (1581 views)
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4 thoughts on “Vendors “romp away from reality”. Brilliant.

  • The comments section is well worth a read – an over supply of Estate Agents indeed – well lets hope the Government dont intervene to prop that lot up.

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  • mark wadsworth says:

    From the article: “Rightmove is now predicting that asking prices will fall 7% over the rest of the year, noting that the overall market is stagnant with mortgage levels at half those of 2007, and a lack of buyers… “With mortgage approvals stuck at half the normal level…”

    Nope.

    Mortgages are about one third of 2007 levels, not half (see articles posted later on today), and who’s to say that 2007 was normal? I’d call it pretty extreme.

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  • Miles Shipside has done his best to ‘spin’ up the housing market over the last few years, and it seems to have worked. The vast majority of vendors believe that their homes are still going up. Shipside may have lost control, and the bubble keeps expanding.

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  • Rental John says:

    Asking prices mean nothing…it is the actually (or attainable) selling price that matters. Estate agents and sellers build in an extra % to offset the % that a buyer will think he is negotiating down…. nothing new in that, except the estate agents/sellers are setting higher and higher buffer.

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