FT: House prices to start rising steadily as soon as October

Dan:_4

Four million homeowners in the UK are playing a waiting game with the property market, watching for the best moment to trade up and cash in on cheaper home-ownership before prices start to rise.

According to research from First Direct, these homeowners are now sitting on a savings pot of £20.2bn which is ready to be ploughed into the housing market when the time is right.
The survey found that with the property market already showing small signs of recovery, the average Brit expects house prices to start rising steadily as soon as October 2010.

http://www.ftadviser.com/FTAdviser/Mortgages/News/article/20090416/3532d7f4-29d6-11de-8da9-00144f2af8e8/House-prices-to-start-rising-steadily-as-soon-as-October.jsp

Really2

I don't know about rising but falls stopping around there to the first 1/4 2010. that would be my punt.

Generali

Dan: wrote: »

Four million homeowners in the UK are playing a waiting game with the property market, watching for the best moment to trade up and cash in on cheaper home-ownership before prices start to rise.

According to research from First Direct, these homeowners are now sitting on a savings pot of £20.2bn which is ready to be ploughed into the housing market when the time is right.
The survey found that with the property market already showing small signs of recovery, the average Brit expects house prices to start rising steadily as soon as October 2010.

http://www.ftadviser.com/FTAdviser/Mortgages/News/article/20090416/3532d7f4-29d6-11de-8da9-00144f2af8e8/House-prices-to-start-rising-steadily-as-soon-as-October.jsp

£20,000,000,000 is baggur all unless they can leverage up. There are some obvious problems surrounding that right now.

CountingPenniesClaire

Poor old FTBers

Cannon_Fodder

October....2010....

Fine.

Dan:_4

Cannon_Fodder wrote: »

October....2010....

Fine.

If your going to wait till 2010, then keep an eye on the interest rates as it could end up costing a lot more long term.

stephen163

Dan: wrote: »

If your going to wait till 2010, then keep an eye on the interest rates as it could end up costing a lot more long term.

Someone will have to do a quick calculation to prove that to me because I can't see how the negligible amount you would have paid off your mortgage between now and October 2010 will be saving you much money long term - unless you get a good fix, which a lot of people might struggle to get.

Thrugelmir

CountingPenniesClaire wrote: »

Poor old FTBers

With 4 million people looking to trade up. This should release more property on the lower rungs of the ladder. If prices up the ladder are falling then people will accept less for their current property as well.

This will be of little benefit to highly leveraged borrowers and BTL investors looking for rapid rise in prices. More than likely the market will behave in a more measured and rational way.

ad9898_3

CountingPenniesClaire wrote: »

Poor old FTBers


Mortgage Start: Nov 2001 / £149,400
Mortgage Current: Feb 2009 / £93,000
Mortgage Free Est: Jan 2012

I quoted your sig, because I'm a FTB'r, yet I will be mortgage free before you are, poor CountingPenniesClaire.:D

besonders1

Dan: wrote: »

Four million homeowners in the UK are playing a waiting game with the property market, watching for the best moment to trade up and cash in on cheaper home-ownership before prices start to rise.

According to research from First Direct, these homeowners are now sitting on a savings pot of £20.2bn which is ready to be ploughed into the housing market when the time is right.
The survey found that with the property market already showing small signs of recovery, the average Brit expects house prices to start rising steadily as soon as October 2010.

http://www.ftadviser.com/FTAdviser/Mortgages/News/article/20090416/3532d7f4-29d6-11de-8da9-00144f2af8e8/House-prices-to-start-rising-steadily-as-soon-as-October.jsp

I find it unusual that anyone can actually predict a specific month when prices will start to rise, like when we were at the top of the market no-one really knew until a year later that the top had been reached, plus different regions up north were still booming right up to the beginning of 2008. I can see the same for the bottom of the market.

ad9898_3

Generali wrote: »

£20,000,000,000 is baggur all unless they can leverage up. There are some obvious problems surrounding that right now.

Agreed, that mighty sum of money would keep the housing market going for 3 weeks in 2007, and seeing as we have seen 20% drop from peak prices, I can't see many lenders wanting to leverage much of that money, if and when people decide to jump in.