RICS Say it's close to bottoming

PasturesNew

Fewer homes, more buyers

http://www.myfinances.co.uk/news/mortgages/property/house-prices/fewer-homes-and-more-buyers-hold-up-house-prices-$1302377.htm

Prices up in the North for the last 3 months and expected up for the next 3 months

http://breakingnews.iol.ie/news/ireland/rise-in-norths-house-sales-to-continue--survey-414080.html

Buyers returning

http://www.telegraph.co.uk/finance/economics/houseprices/5476901/House-prices-recovering-as-buyers-return-say-estate-agents.html

MRSTITTLEMOUSE

We live in the north and houses are shifting no problem.
Even houses which were on the market for ages have had sold boards up in the past couple of weeks.
I have'nt seen a huge drop in prices either,not compared with the south of the country anyway.

ad9898_3

Haven't the VI's been saying it's close to bottoming for about 4 months now ?, having read some of the more knowledgeable posts on HPC about dead cat bounces, and how they destroy hope, I'm getting the feeling this is what we are seeing, most people on here know that further -ves in the indices will happen.

However out there in the big wide world where people just watch Big Brother, Corrie etc and may only catch the odd headline before turning over and watching Neighbours, these people believe what the VI's are spinning them about the bottom approaching, hope will be taken away, accelerating falls again as we go into the latter part of the year.

You can only keep telling people the bottom is approaching for so long before they think you're just lying.

lostinrates

I don't really understand how stats can show that something is ''bottoming out''. I understand they can show a rise, or a fall, or no change, but how do they predict the future? Especially when RICS allow there are still ''obstacles to overcome''?

ad9898_3

MRSTITTLEMOUSE wrote: »

We live in the north and houses are shifting no problem.
Even houses which were on the market for ages have had sold boards up in the past couple of weeks.
I have'nt seen a huge drop in prices either,not compared with the south of the country anyway.

It would be interesting to see what the LR say, I have seen quite a few sold boards in my area in the last 4 months, yet when I look on the LR, I see that in 2007, 395 houses were sold, 2008, 150 houses sold, and wait for it......... 2009 so far have seen 32 house sold upto 31st May. Now if that's recovery, I wouldn't like to see another dip.

chewmylegoff

PasturesNew wrote: »

Fewer homes, more buyers

http://www.myfinances.co.uk/news/mortgages/property/house-prices/fewer-homes-and-more-buyers-hold-up-house-prices-$1302377.htm

Prices up in the North for the last 3 months and expected up for the next 3 months

http://breakingnews.iol.ie/news/ireland/rise-in-norths-house-sales-to-continue--survey-414080.html

Buyers returning

http://www.telegraph.co.uk/finance/economics/houseprices/5476901/House-prices-recovering-as-buyers-return-say-estate-agents.html

you considering buying again yet?

System

ad9898 wrote: »

Haven't the VI's been saying it's close to bottoming for about 4 months now?

Is that the same 4 months where house prices have remained static?

Uhuh.

pickles110564

PasturesNew wrote: »

Fewer homes, more buyers

http://www.myfinances.co.uk/news/mortgages/property/house-prices/fewer-homes-and-more-buyers-hold-up-house-prices-$1302377.htm

Prices up in the North for the last 3 months and expected up for the next 3 months

http://breakingnews.iol.ie/news/ireland/rise-in-norths-house-sales-to-continue--survey-414080.html

Buyers returning

http://www.telegraph.co.uk/finance/economics/houseprices/5476901/House-prices-recovering-as-buyers-return-say-estate-agents.html

I have noticed that there is more movement now but until the results get published we will not know whether or not the sellers were desperate and people have been taking advantage of the situation.

Really2

ad9898 wrote: »

so far have seen 32 house sold upto 31st May. Now if that's recovery, I wouldn't like to see another dip.

The average sale takes 3 - 4 months to show on LR anything added May was likely sold Feb/March. (Mine took over 3 months to show)

ad44downey

PasturesNew wrote: »

RICS Say it's close to bottoming

Take your pick of the porkies:

Labour says election results weren't as bad as they could have been

2nd hand car salesmen say it's a great time to buy a car

Estate Agents say the property market is on the up.

StevieJ

ad44downey wrote: »

Take your pick of the porkies:

Labour says election results weren't as bad as they could have been

2nd hand car salesmen say it's a great time to buy a car

Estate Agents say the property market is on the up.

Well, it is a great time to buy a car, and yes Labour results could have been worse.
What is your point