Sunday, June 22, 2014

Will he take action ?

Mark Carney to take action on housing market

Mark Carney is this week expected to unleash new measures to control the housing market, introducing strict requirements in an attempt to limit risky mortgage lending. The Bank of England's Financial Policy Committee (FPC) will use its biannual Financial Stability Report to take action on mortgages, after developments in the housing market have seen fears resurface that home loans are putting the strength of the financial system at risk.

Posted by housesearch @ 05:13 PM (3782 views)
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One thought on “Will he take action ?

  • I am expecting that the changes will be minor, but they could be significant enough to shift sentiments on the margins that drive the market direction, since it matters not if 100 people go for a house, it is the top 5% bidding higher, or not, who drive prices. Shift them slightly in one direction, or move investors to unload portfolios and you can see massive shifts.

    I’ve been looking for a house in London. Noticed a panic today with some agents pestering me, when previously it was the other way around. I think they are freaking out, because interest was already WAY down on Christmas and the winter rush we had and so they are concerned that prices may have to drop if further curbs are put in place.

    At the moment Agents and owners have decided that prices will rise in the long run, but that they will not rise. That they will stay about the same for a period. However, prices rarely flat line, they tend to rise or fall. From a sentiment of flatlining, sentiment towards falling prices is a small step to go.

    What I am hearing is, that owners have held onto properties on the way up to not lose out on gains, but that if they sense falls, they will panic sell and flood the market.

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