British House Prices Probably Won’t Fall This Year, RICS Says

Graham_Devon

Really2 wrote: »

Transaction levels and type of transactions (EG less repos more job security etc) no mention of mortgages.

You can come across a bit hysterical some times GD.

You are ignoring how transaction levels got to where they were.

It's not hysterical, it's simply looking at the whole market. You said normal, I asked you what normal was. You say transaction levels.

I say how can transaction levels get back to that "normality" without the prodcuts enabling people to transact. i.e. mortgages. It's merely a question.

Lance

So the 'experts' believe no rises this year! They will probably be correct unless prices rise in which case they will be described as 'baffled' or 'shocked' but never clueless because they are experts and will always provide a good headline.

I believe, not an expert, that massive debt will force cutbacks that shake our economy to it's roots. Unemployment / people who don't want to work is rising...... despite people forced into part-time jobs and shorter hours not counting in the figures. Tax reciepts drop as jobless costs rise. Last year we have QE, car scrappage, reduced VAT, reduced Stamp Duty and massive employment by the government into the public sector to massage employment figures even more. With all of that GPD 'grew' 0.3% in dodgy figures. Have you seen the roadworks in North London!!!!!! They are everywhere..... never seen so many but after 31st March that will go. The pound is falling through the floor which helps our small exports but increases costs of our massive imports. Our AAA rating is in danger with borrowing costs rising already as Moody etc hold back. Yeah, looks good for housing and the economy.

abaxas

Turkey prices to rise says Bernard Matthews.

chucky

Graham_Devon wrote: »

You are ignoring how transaction levels got to where they were.

It's not hysterical, it's simply looking at the whole market. You said normal, I asked you what normal was. You say transaction levels.

I say how can transaction levels get back to that "normality" without the prodcuts enabling people to transact. i.e. mortgages. It's merely a question.

it doesn't matter if it's normal or not - 100%/125% mortgages are not normal

2009 transactions support 2009 house prices
2010 transactions look like they will be supporting 2010 house prices

Graham_Devon

LOL.

It's a SIMPLE question. How is this "normal" transaction level going to be achieved? Are we all suddenly going to just get richer overnight, to be able to support those transaction levels WITHOUT the products enabling us to do so?

Remember, normal was defined as the stuff pre bust. If it wasn't defined that way, how the hell was it defined....as nothing since then has been remotely "normal".

The 2 lines about transactions levels you have just used chucky have absolutely nothing to do with what I asked really2.

Really2

Graham_Devon wrote: »

Y

It's not hysterical, it's simply looking at the whole market. You said normal, I asked you what normal was. You say transaction levels.

It is as I have never advocated 100% mortgages ever.

But we do have history to tell us even before 100% mortgages and that data is still fairly different to where transaction levels are today (and not that far off 2002-2006 levels).

So when transactions get near to the historical (I actually wrote hysterical) average that would be a normal market IMHO. They will get back to that Graham one day believe me and that will be when all this blows over and the recession was a few years in the past.

abaxas

Graham_Devon wrote: »

LOL.

It's a SIMPLE question. How is this "normal" transaction level going to be achieved? Are we all suddenly going to just get richer overnight, to be able to support those transaction levels WITHOUT the products enabling us to do so?

Remember, normal was defined as the stuff pre bust. If it wasn't defined that way, how the hell was it defined....as nothing since then has been remotely "normal".

The 2 lines about transactions levels you have just used chucky have absolutely nothing to do with what I asked really2.

Exactly. It's about the point you define as normal and if what came bfore was normal?

Pre credit crunch can never be described as normal, bank and stake collapse is NOT normal. *

* unless you are an eastern european country.

chucky

Graham_Devon wrote: »

LOL.

It's a SIMPLE question. How is this "normal" transaction level going to be achieved? Are we all suddenly going to just get richer overnight, to be able to support those transaction levels WITHOUT the products enabling us to do so?

Remember, normal was defined as the stuff pre bust. If it wasn't defined that way, how the hell was it defined....as nothing since then has been remotely "normal".

The 2 lines about transactions levels you have just used chucky have absolutely nothing to do with what I asked really2.

i don't think you understand graham - that's why you think it has nothing to do with it.

oh well :wall:

Pete111

MissMoneypenny wrote: »

My aunt withdrew some equity from her house in London, a couple of years ago. She was telling me house prices have dropped since then in her area. I checked on ourproperty.co.uk and she was right. The asking prices on RM are a long way down from the 2007 selling prices.

Still can't sell my mother's house in a well thought of, easy travel to the city, part of the SE:( Gonna have to drop the price soon, as we want her to cash in on this calm before the storm.

I have been watching a house I sold a few years ago, stuck on the market for 3 years now. They still have it on for the same asking price as they originally put it on for in 2007! They have changed EA 3 times.

As I say, I'm only going on (increasing amounts of) anecdotal evidence primarily in one area only. An interesting one will be a freind of mine in Putney who will shortly be marketing his flat for what looks to be approximately peak price on the advice of a couple of local EA's.

The proof is in the pudding metihinks - I will observe and report back!

P

PS good luck with your sale too!

chucky

Pete111 wrote: »

As I say, I'm only going on (increasing amounts of) anecdotal evidence primarily in one area only. An interesting one will be a freind of mine in Putney who will shortly be marketing his flat for what looks to be approximately peak price on the advice of a couple of local EA's.

The proof is in the pudding metihinks - I will observe and report back!

P

PS good luck with your sale too!

i put something on the market about a month ago - it went under off in less than 10 days.