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Property has potential, but work required.....
HAMISH_MCTAVISH
Posts: 28,592 Forumite
http://www.telegraph.co.uk/finance/newsbysector/constructionandproperty/6142660/Property-shows-potential-but-work-required.htmlA surge in new buyer inquiries, and rises in mortgage approvals have signalled that conditions have bottomed out.
The most startling trend though has been house prices. Nationwide has reported house price rises in five of the past six months, and is now expecting prices overall in 2009 to rise in the region of 0-5pc.
Rival Halifax has reported fewer rises – two out of the last four months – but is expected by economists to say this week that house prices rose again in August.
So undeniably the picture is looking rosier for the housing market, and house prices are likely to continue to stabilise for the rest of this year and into 2010.
An interesting, and balanced, look at the housing market from The Telegraph.
Explores the conflicting pressures and risks, but concludes that we are now in for a period of stabilisation, followed by stronger rises several years down the line.
This is becoming very much the consensus opinion amongst the majority of forecasters and economists as well.
Odd that so many bears are still in denial.
“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”
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Comments
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HAMISH_MCTAVISH wrote: »Odd that so many bears are still in denial.
About as odd as the fact that you chose not to quote parts of this article that don't support your own view, such as:But the prices we have seen over the past six months do not necessarily signal the beginning of a smooth or strong recovery, and risks remain which could threaten to derail recovery in the market where the recession began.However, when recovery does come, it is expected to be weak, and there are fears that it will not last long. If the UK economy suffered any unexpected shocks and experienced a double dip recession – where growth returns briefly only to be followed by another period of contraction – it would not be good news for the housing market.Clearly the price rises over the past month are not the beginning of a return to the booming housing market, which began to unravel with the global downturn. Not until unemployment stabilises are larger increases likely to occur. The high levels of household debt relative to income, prevalent in the UK, are unlikely to foster a booming housing market.0 -
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HAMISH_MCTAVISH wrote: »http://www.telegraph.co.uk/finance/newsbysector/constructionandproperty/6142660/Property-shows-potential-but-work-required.html
An interesting, and balanced, look at the housing market from The Telegraph.
Explores the conflicting pressures and risks, but concludes that we are now in for a period of stabilisation, followed by stronger rises several years down the line.
This is becoming very much the consensus opinion amongst the majority of forecasters and economists as well.
Odd that so many bears are still in denial.
You are an annoying Tube0 -
About as odd as the fact that you chose not to quote parts of this article that don't support your own view, such as:
I quoted the opening paragraphs.
I also stated clearly that it explored the conflicting pressures and risks.
Thats why it's an interesting, and balanced, article. Precisely because it explores those risks you quoted.
However it's conclusion is still the same.
That the most likely direction of the market is flat then up....“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
If everybody ignores him, maybe he will go away?0
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HAMISH_MCTAVISH wrote: »"Nationwide has reported house price rises in five of the past six months..."
Not 7 then ?0 -
HAMISH_MCTAVISH wrote: »I quoted the opening paragraphs.
I also stated clearly that it explored the conflicting pressures and risks.
Thats why it's an interesting, and balanced, article. Precisely because it explores those risks you quoted.
However it's conclusion is still the same.
That the most likely direction of the market is flat then up....
I was going to buy up to 3 houses this or next year, but have now decided not to, not because I don't think it's a good time to buy (although next year IMO would be better) but because I am 51 and have realised that I don't really want to be a landlord beyond 60 (it's hard work at times). Although I will of course sell my existing properties beyond 60 if market condition dictate to do so. I don't think it's a good idea to buy investment property with a timeframe of only around 9 years in mind.
For anyone buying their own place I don't see the need to rush into buying just yet as they can get good rental deals at the moment, they'd be better off keeping their powder dry just for now and keep a close eye on the market. Again probably next year or the year after might be the optimum time, but they can afford to take their time it's not as if prices are suddenly going to rocket.Chuck Norris can kill two stones with one birdThe only time Chuck Norris was wrong was when he thought he had made a mistakeChuck Norris puts the "laughter" in "manslaughter".I've started running again, after several injuries had forced me to stop0 -
If everybody ignores him, maybe he will go away?
How can he? he has been banned from most other places for being a troll so he ended up here with no other place to go...It is nice to see the value of your house going up'' Why ?
Unless you are planning to sell up and not live anywhere, I can;t see the advantage.
If you are planning to upsize the new house will cost more.
If you are planning to downsize your new house will cost more than it should
If you are trying to buy your first house its almost impossible.0 -
How can he? he has been banned from most other places for being a troll so he ended up here with no other place to go...
*yawn*
As you are well aware, ALL the prominent bulls were banned from hpc for being right. No coincidence it happened all on the same day, "night of the long knives" style, when prices started rising markedly.
And I've never been banned from anywhere else, so thats just another baseless accusation from you Geoff.
You really must try harder.;)“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
HAMISH_MCTAVISH wrote: »*yawn*
As you are well aware, ALL the prominent bulls were banned from hpc for being right. No coincidence it happened all on the same day, "night of the long knives" style, when prices started rising markedly.
And I've never been banned from anywhere else, so thats just another baseless accusation from you Geoff.
You really must try harder.;)
The trolls were banned.
I'm using HPC to read stuff. There are still bulls posting. Just not the annoying ones starting 20 threads a day saying house prices are up up up.0
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