Green Shoots (Finally)

mr.broderick

http://news.sky.com/skynews/Home/Business/Green-Shoots-Housing-Minister-Margaret-Beckett-Claims-Signs-Of-An-Upturn-In-The-Property-Market/Article/200901315205565?lpos=Business_First_Home_Article_Teaser_Region_5&lid=ARTICLE_15205565_Green_Shoots%3A_Housing_Minister_Margaret_Beckett_Claims_Signs_Of_An_Upturn_In_The_Property_Market

1sue23

Well next doors for sale sign is covered in ivy ,is that a good sign of recovery?:rolleyes:

chrisandanne

I'm sorry, it's my fault....this anectdotal evidence of a bit of an upturn in interest......I rang an estate agent on Friday and enquired about a house that had just come on the market.....not buying it...just nosey.

A

brit1234

Lets see how these green shots do this week with the monthly housing figures. I think they will be killed off with all that house price pesticide.

Market crashing and the worsening economy means it is likely to get far worse before it gets better.

Oh by the way, how many of these interested parties want to buy now and how many have saved up the 25-40% deposit. :rotfl:

ManAtHome

Wan't she something important in the past - bit of a come-down to Minister for Green Shoots** innit..? ** Shouldn't it be Spotlights of Recovery (MGS is a bit 90's).

chrisandanne

brit1234 wrote: »

Lets see how these green shots do this week with the monthly housing figures. I think they will be killed off with all that house price pesticide. .

Squirt...-1.9% for January.

A x

Kez100

I think she is right in her initial comments. I too have heard the same. However for a registration of interest to be seen through to a housing Market recovery - even if recovery is seen as a small movement in sold signs is going to take much more.

dopester

I keep forgetting Flint has become Minister for Europe.

Ridiculous article.

High LTVs required, unemployment sky-rocketing, banks on life support, businesses which could only survive in boom conditions going under... house prices only down some 16% (officially) after 10 years of house prices near tripling.

GTH New Liebour.

Green shoots... ?

More like out-of-control forest fire, lapping away on all the old-dead wood, and coming in from all directions.

Davesnave

Judging by anecdotes in this site, I think there may well be a bit of a revival in the early part of the year, but I don't expect it to be sustained.

There are a lot of none-too-subtle articles from vested interests on the Internet, suggesting that now is a great time to secure a 'bargain.' It will be easy for those with little resolve to be sucked into a belief in that sort of talk, especially if they've become bored with waiting.

Even here, you read someone every week who talks about 'missing the bottom,' as if it's going to be really difficult to avoid the 'mad rush!'

Kez100

All I know is that we were caught out in the 1990s on a three month upturn and then prices dropped again. It is true there is pent up demand but not with such hugh deposits. FTBs are what we need for sustained Market and there isnt enough of them with deposits yet, is there?

Generali

Meanwhile, back in the real world.....

n its Winter forecast, the ITEM Club says it expects UK GDP to fall by 2.7% over 2009, business investment to fall by 17% and half a million people to lose their jobs. Headline RPI will turn sharply negative this year, raising the spectre of a decade of deflation.

http://www.ey.com/global/content.nsf/uk/economic_outlook

They also reckon house prices will fall 16% in 2009.

Now what is interesting about the ITEM Club prediction for house prices is that the ITEM Club use the same economic model as The Treasury so either:

- Margaret Becket has started making economic forecasts without checking what the experts in the Treasury think or
- Margaret Becket is trying to put an 'optimistic' spin on things and is in fact lying

I leave it down to you to decide which you think is the case.