What estate agents think is happening, post the rate cuts

carolt

http://www.guardian.co.uk/business/2009/feb/06/housing-market-banks

Interesting mix. Pick a quote to suit your views. I like:

David Marsh from Marshall's estate agents in Penzance, Cornwall, said he did not believe the Halifax house price index. "Nothing like that is happening around here," he said."If people don't reduce their prices then they've got no hope of selling."

davilown

Gary Street at Pearson Ferrier estate agents in Bury, Lancashire, said house prices in the area had dropped about 10% over the past six to eight months. But viewing requests doubled in the last two of weeks of December, he said, and offers had become more reasonable. "I think we have hit the bottom. That's why buy-to-let investors and first time buyers are fighting to grab the bargains."

I do worry about some estate agents - How many have closed/lost their jobs? That would increase the interest in properties in an EA. 5 kebab vans for 200 people or 1 kebab van for 200 people. Plus there are still very few bargains on the market.

[Deleted User]

It can take a rate cut anything upto 18 months to make any real difference to anything,thats why this year is going to be so bad as it wont be till early 2010 till any of the rate cuts make an impact