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Debate House Prices
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Slumping auction prices point to fall in house prices
DaddyBear
Posts: 1,208 Forumite
A fall from 90% predicted price to 70% predicted price is a pretty big one. Looks like the cash buyers are running out. Round 2 here we come.
http://www.ft.com/cms/s/d80e588a-9d63-11de...;nclick_check=1
Auctions point to falls in house prices
By Chris Giles, Economics Editor
Published: September 9 2009 23:35 | Last updated: September 9 2009 23:35
A recent recovery in the housing market is likely to have been built on unstable foundations, a group of economists claims on Thursday, after a fall in demand and prices at property auctions over the summer.
The average property sold at auction in August achieved a price of only 70 per cent of the amount that the same home could be expected to achieve in the conventional market, where homes are bought and sold through estate agents.
http://www.ft.com/cms/s/d80e588a-9d63-11de...;nclick_check=1
Auctions point to falls in house prices
By Chris Giles, Economics Editor
Published: September 9 2009 23:35 | Last updated: September 9 2009 23:35
A recent recovery in the housing market is likely to have been built on unstable foundations, a group of economists claims on Thursday, after a fall in demand and prices at property auctions over the summer.
The average property sold at auction in August achieved a price of only 70 per cent of the amount that the same home could be expected to achieve in the conventional market, where homes are bought and sold through estate agents.
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Comments
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A recent recovery in the housing market is likely to have been built on unstable foundations, a group of economists claims on Thursday, after a fall in demand and prices at property auctions over the summer.
I claimed that on Wednesday. And the day before, and the day before, and....0 -
Many of us have said there will be falls over the winter
The article states“We would expect auction prices to react more quickly to changing market conditions than conventional measures, which suggests that we may see house prices falling again in coming months,” he said.
Hardly ground breaking news
P.S. your link didn't work for me.
Try this http://www.ft.com/cms/s/0/d80e588a-9d63-11de-9f4a-00144feabdc0.html:wall:
What we've got here is....... failure to communicate.
Some men you just can't reach.
:wall:0 -
I claimed that on Wednesday. And the day before, and the day before, and....
What do you want ?? A prize or something ?? :rolleyes:
I've got some Lollipops in my drawer............'In nature, there are neither rewards nor punishments - there are Consequences.'0 -
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What do you want ?? A prize or something ?? :rolleyes:
I've got some Lollipops in my drawer............
give him a break. It's nice to be right for once (although technicaly still only a prediction at this stage).
As they say, every dog has it's day
:wall:
What we've got here is....... failure to communicate.
Some men you just can't reach.
:wall:0 -
Falls, over winter?????
Really?
Cause it's not like we've been predicting that for months now or anything.:rolleyes:
Perhaps it's time to bump the "bear trap coming soon" thread.“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: »Falls, over winter?????
Really?
Cause it's not like we've been predicting that for months now or anything.:rolleyes:
Perhaps it's time to bump the "bear trap coming soon" thread.
yeah, but its gonna be a bl00dy long winter :cool:Please take the time to have a look around my Daughter's website www.daisypalmertrust.co.uk
(MSE Andrea says ok!)0 -
So are the volumes of house going to auction increased?
Or is the fact more repos are being sold through EA's and only the ones that are the poorest of quality going to auction.
Our local paper had one estate sold the savels auction that went for 30% over valuation.
Auctions are an extream view of a market. They are not the standard housing market.
If some one can prove more houses are being sold through auction than last year I will eat my words. (could be a very long wait )0 -
Keep em, sounds like you need em
Now I know how much 'money' I've lost in the last year, you're probably right :eek:'In nature, there are neither rewards nor punishments - there are Consequences.'0 -
most people have said this so whay are people now saying
do they want a chocolate watch as a prize?I claimed that on Wednesday. And the day before, and the day before, and....0
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