House Prices Set To Soar Next Year - Daily Mail Today!

bing0

Its the age long question "what came first,the chicken or the egg " ?

Lots of people want the market to go up,and likewise lots want it to go down...!

As long as everybody gets a 100% tax refund,free food,free cars,free holidays,interest free loans,15 weeks full paid holidays,perfect neighbours,free dental/medical care in the private sector who cares ?

Well most of the above were there for people who constantly borrowed off their property value,now its payback time.

LETS GET REAL,you get nowt for out in this world.The dream is over,back to reality and hard work for some of us.

I guess it will be years before the market stabilises,so good luck to one and all,and may everything you wish for (up or down) come true !

Personally good health and my family mean more to me.:j

Lotus-eater

mstar wrote: »

nope i lived in my house for 11 years actually and was going to sell next year, but not yet. Are you tryng to buy by any chance?

and you trying to buy and hence wantig prices to drop??

Mmmm, you were wondering if the house you bought 11 years ago price was going to be released by the land registry?
http://forums.moneysavingexpert.com/showthread.html?p=12045759#post12045759
Kinda strange, but OK, I assumed you had just got it.

And no I'm not waiting to buy, so you can cross me off the bitter and twisted/ waiting to buy a home list.


Wow weird.

mstar wrote: »

hi guys i just moved into a new house, and i need to sort out all utility bills onto my name.

http://forums.moneysavingexpert.com/showthread.html?p=9802475#post9802475

ruggedtoast

Yet the demand for new housing continues from groups such as divorcees and immigrants.

Its come to something when the Daily Nazi is looking to two of its three most hated demographics to rescue its doomed property ramping aspirations.

The irony is that a lot of Mail readers will be contemplating eating their shoes by the time the recession ends, let alone looking for hpi. And lets all take this CEBM forecast with a pinch of salt, they and people like them are; after all, the same school of financial geniuses who have ploughed the world into every recession since the 1930's, and are conveniently incapable of seeing the next one coming every time it comes to taking our money.

I feel mildly sorry for people who have a vested emotional or financial interest in house prices going up again but that doesnt change the facts on the ground, its over, you bought into a pyramid scam thats collapsed; and itll be a long time before its back. Regardless of how many immigrant divorcees there are in the next two years.

Toast out.

carolt

According to the FT, people who put their money where their mouth is, ie bet on the future direction of housing, believe house prices will FALL by 30% by 2011:

"House prices are expected to fall by almost 30 per cent during the next three years according to the leading indices of property price futures, with more investors than ever looking to bet on long-term property prices as the value of their own homes fall.

About £50,000 ($98,752) will be wiped off the value of the UK average house price of £185,000 by 2011 judging by current trading on spread betting platforms, more than most commentators currently expect.

Residential price derivatives, which are commonly used by institutional investors, are also implying a fall of between 25 per cent and 30 per cent, according to Philip Ljubic, director of property derivatives at ABN Amro.
...
Tradition, an interdealer broker, meanwhile says that the average UK house price is expected to fall to £153,591 next year and to £137,233 in the next three years, and only begin its recovery in 2011."

http://www.ft.com/cms/s/0/a24ab0be-61a9-11dd-af94-000077b07658.html?nclick_check=1

confused31_2

carolt wrote: »

According to the FT, people who put their money where their mouth is, ie bet on the future direction of housing, believe house prices will FALL by 30% by 2011:

"House prices are expected to fall by almost 30 per cent during the next three years according to the leading indices of property price futures, with more investors than ever looking to bet on long-term property prices as the value of their own homes fall.

About £50,000 ($98,752) will be wiped off the value of the UK average house price of £185,000 by 2011 judging by current trading on spread betting platforms, more than most commentators currently expect.

Residential price derivatives, which are commonly used by institutional investors, are also implying a fall of between 25 per cent and 30 per cent, according to Philip Ljubic, director of property derivatives at ABN Amro.
...
Tradition, an interdealer broker, meanwhile says that the average UK house price is expected to fall to £153,591 next year and to £137,233 in the next three years, and only begin its recovery in 2011."

http://www.ft.com/cms/s/0/a24ab0be-61a9-11dd-af94-000077b07658.html?nclick_check=1

I hope your right , but i just cant see it happening, people go on about a house crash but to be honest i havent seen massive drops. I hope so because im hoping to move up the ladder so any price drop will be great for me, but i think a lot of people who are expecting massive drops are being over optimistic,

Jazzypap

The latest news of a possible ‘stamp duty holiday’ will only fuel a decline in purchasers, who will wait until this is officially announced (if at all, as it's only on the drawing board) or cause buyers to pull out of transactions they are currently involved with - I'm not sure why though, it's pennies in the scheme of things.


Vendors who don't need to sell, will sit it out until the market turns in their favour again and with a huge potential housing deficit on the horizon, prices will eventually rise again, as demand starts to outstrip supply. The trigger for this will be when the banks start to lend again at reasonable rates and first time buyers can then afford a mortgage, which, even with a healthy deposit, they are unable/unwilling to do at the moment.

The possible ‘stamp duty holiday’ IMO won't help the first time buyers, who often buy below the threshold anyway and without the influx of first time buyers, the rest of the market stutters or grinds to a shuddering halt - I really can't see how a possible ‘stamp duty holiday’ will help stimulate the market at all!

Lots of new house builds have been either cancelled or put on hold, effectively destroying any chance of the government target for new housing being achieved – builders are in effect storing up work for the future, as inevitably, these new houses will still be needed due to the acute housing shortage we have in the UK.
Depending on how long many new builds remain in abeyance, will determine how acute this shortage will be – with a government target of 240,000 and only 110,000 new homes built this year and say 80,000 next year, this shortage will be only too obvious.

Jumping_Bean

pickledpink wrote: »

Pinkshoes,Happy days are on there way!:T :j :T :j :rotfl: :T :j

Could you explain why "House Prices set to soar" = "Happy Days"?

guppy

Its nice to see the Daily Mail return to form. I was starting to think they'd lost their touch.

GDB2222

carolt wrote: »

Residential price derivatives, which are commonly used by institutional investors, are also implying a fall of between 25 per cent and 30 per cent, according to Philip Ljubic, director of property derivatives at ABN Amro.
...
Tradition, an interdealer broker, meanwhile says that the average UK house price is expected to fall to £153,591 next year and to £137,233 in the next three years, and only begin its recovery in 2011."

http://www.ft.com/cms/s/0/a24ab0be-61a9-11dd-af94-000077b07658.html?nclick_check=1

A small point, Carol, but that is double-counting. ABN AMRO is quoting the same figures as Tradition (who run the derivatives market). The derivatives market does strike me as pretty compelling evidence, as it is an inter-bank market, with a minimum deal size of £5 mill. So, it's professionals putting large amounts of money where their mouth is. The fall there may be overdone, as there may be more sellers than buyers, but it will take that sort of fall to bring prices back towards the long-term average of house prices to earnings. So, it looks realistic to me.

IveSeenTheLight

Interesting thread for reflection