Debate House Prices


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Housing Market "is being stifled" - RICS

http://www.bbc.co.uk/news/business-11983859
The housing market is being stifled by a lack of first-time buyers and economic confidence, according to surveyors.


More reported prices falling than rising in November - a similar picture to the previous month, said the Royal Institution of Chartered Surveyors.
New buyer enquiries, newly agreed sales and average sales per surveyor all fell in November, the survey found.


Prices were falling across the UK and activity remained slow.
What goes around - comes around
«1

Comments

  • DervProf
    DervProf Posts: 4,035 Forumite
    edited 14 December 2010 am31 8:43AM
    "The housing market is being stifled by a lack of first-time buyers and economic confidence, according to surveyors."

    Just making up for the housing market excesses of the years leading up to the credit crunch. Tough. You`ll get your boom back, eventually, but in the meantime !!!!!!.
    30 Year Challenge : To be 30 years older. Equity : Don't know, don't care much. Savings : That's asking for ridicule.
  • zappahey
    zappahey Posts: 2,252 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    DervProf wrote: »
    ... but in the meantime !!!!!!.

    Me or RICS?
    What goes around - comes around
  • DervProf
    DervProf Posts: 4,035 Forumite
    zappahey wrote: »
    Me or RICS?

    Not you !

    The bleating estate agents can though.
    30 Year Challenge : To be 30 years older. Equity : Don't know, don't care much. Savings : That's asking for ridicule.
  • chucky
    chucky Posts: 15,170 Forumite
    10,000 Posts Combo Breaker
    zappahey wrote: »
    Me or RICS?
    hopefully you Mr T.R.O.L.L.

    how's that gold and silver ramping doing....
  • ......yawn......
    ........zzzzzzzzzzz.....
  • Wrong. There are plenty of first time buyers out there. Just very few of them in possession of £20k cash for a deposit. Demand has been stifled a bit by the recession, but people still need somewhere to live. Its the banks killing things at the moment - they've gone from giving a mortgage to anyone to giving a mortgage to no-one.
  • Around where I am FTB seem to be on the increase to be honest, FTB type properties are starting to shift and as a result everythiing else is moving too as other people trade up. Mortgage wise I have not heard of anyone being declined providing they have the deposit and valualtion is stacking up. I must admit the people I know who are buying or have bought (including us) have not been applying for a silly salary multiple all have been either under 3x single or 3x joint. According to the movers we used the 3rd and 10th December was the busiest they had been since June.
    MF aim 10th December 2020 :j:eek:
    MFW 2012 no86 OP 0/2000 :D
  • doire_2
    doire_2 Posts: 2,280 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    edited 15 December 2010 am31 9:27AM
    Wrong. There are plenty of first time buyers out there. Just very few of them in possession of £20k cash for a deposit. Demand has been stifled a bit by the recession, but people still need somewhere to live. Its the banks killing things at the moment - they've gone from giving a mortgage to anyone to giving a mortgage to no-one.

    The banks being sensible when it comes to mortgages? Long may it continue
  • Orpheo
    Orpheo Posts: 1,058 Forumite
    very few of them in possession of £20k cash for a deposit.

    So true.
    Demand has been stifled a bit by the recession, but people still need somewhere to live.

    People need somewhere to live, that's profound insight indeed. Whenever I step out of my house I can't move for the crowds of people with nowhere to live.
    Its the banks killing things at the moment - they've gone from giving a mortgage to anyone to giving a mortgage to [STRIKE]no-one[/STRIKE] those who can afford a mortgage and those who can provide a 25% deposit in order to help cushion the bank against further falls in house prices.

    Corrected for you.
    Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam
  • The housing market is what it is.

    To say it is being "stifled" by credit, is the same as saying the nation is being "stifled" by credit card limits and theres a limit in place on spending money we don't have.

    The economy is being "stifled" by this. Jobs are too. We could be absolutely booming if we all had no ceiling on our credit cards.
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