House prices rising in uk

brit1234

marblesfound wrote: »

Brit,

I agree with much of what you said above however there was also a joker in the pack - QE. Pre QE in 2008 house price falls were made worse by the prospect of deflation. In a deflationary scenario you want to liquidate assets as cash is king. However post QE the situation has changed - cash is being trashed therefore the last thing you want to do is sell an asset - this has helped to keep the bubble from deflating too rapidly. People are now terrified to hold cash for fear of it becoming worthless.

There is a big argument if we are going to have deflation or inflation.

I personally think inflation will remain high even with the VAT being so called knocked off. The BOE has had a terrible record on inflation these last few years, why trust Mr King now. More QE in UK, USA and now even in Europe if Germany gets overridden will lead to assets inflation and higher costs for us.

High inflation combined with wage freezes will help for house prices down.

nollag2006

brit1234 wrote: »

I personally think inflation will remain high even with the VAT being so called knocked off. The BOE has had a terrible record on inflation these last few years, why trust Mr King now.

Is their record as bad as your own on house price predictions on here over the years?

My own personal favourite is your claim in Q1 2009 that house prices would drop 50% by Christmas.

How did that work out for you?

Thermidor

First time buyers have struck gold!

http://www.dailymail.co.uk/news/article-2064111/Taxpayer-help-time-buyers-Cameron-plan-underwrite-new-mortgages.html

marblesfound

Fenix wrote: »

[FONT=Verdana, arial, helvetica, sans-serif]Itprobably hasn’t escaped your notice that house prices are still rising. [/FONT]

Considering all of the bad news in the economy recently why do you think house prices are still rising?

Do you think they will continue to rise in the face of high unemployment, falling wages and high inflation?

NEO72

Fenix wrote: »

[FONT=Verdana, arial, helvetica, sans-serif]Itprobably hasn’t escaped your notice that house prices are still rising. [/FONT]

I think somebody had better tell those actually trying to sell that prices are rising.

House sellers drop asking prices by 3.1%

The asking price of homes being put up for sale has fallen by 3.1% in the past month, according to the property website Rightmove.
The average asking price of newly marketed properties fell during November by £7,528 to £232,144. Rightmove said prices, and the number of homes up for sale, were being depressed by economic uncertainty. The fall in asking prices was the biggest in cash terms that Rightmove had recorded since December 2007.

http://www.bbc.co.uk/news/business-15790738

December 2007? And what happened next..hmmm

House sellers are typically knocking nearly £20,000 off their original asking prices - the biggest discount in two years, property website Zoopla.co.uk says.

Two out of five UK homes currently on the market have been reduced in price, showing sellers have become "more realistic and more desperate" as winter closes in, Zoopla said.

Homes where the asking price has been slashed have seen typical reductions of £19,500, a figure which is £3,500 more than the average cut this time last year, Zoopla said.

Sellers are shaving 7.4% off original house asking prices, compared with a 6.1% reduction during the same period in 2010.

The latest figure is the biggest discount in money and percentage terms for two years and represents £5 billion worth of price cuts across the UK, Zoopla said.

http://www.google.com/hostednews/ukpress/article/ALeqM5jrvHkgiE0LNrNiqqQxv9LOevTTbA?docId=N0018621321982514391A

Oooh, typical reduction of nearly 20K (so far)- that has to hurt!! Perhaps they should put the prices up instead what with prices going up and all :rotfl::rotfl::rotfl:

geoffky

Asking prices in Yorkshire & Humberside are down 5.3%, in East Anglia 6.9% and in the South West 6.0%. These are drops over the last month, not the last 12 months.


http://www.estateagenttoday.co.uk/news_features/Asking-prices-plummet-as-sellers-stay-away

MrRee_2

In the South they are rising fast ............

brit1234

nollag2006 wrote: »

Is their record as bad as your own on house price predictions on here over the years?

My own personal favourite is your claim in Q1 2009 that house prices would drop 50% by Christmas.

How did that work out for you?

I have answered you the same question about 10 times now but you keep repeating it. Infact that is all you say, no debate but childish posts.

However you refuse to state by how much house prices will rise or fall by mid 2012. Why do you avoid the question? Is the answer you know prices are falling?

NEO72

Thermidor wrote: »

First time buyers have struck gold!

http://www.dailymail.co.uk/news/article-2064111/Taxpayer-help-time-buyers-Cameron-plan-underwrite-new-mortgages.html

Hey you're right! Its only for newbuilds so should encourage lots more building and all these new owners will no longer be renting, so rents will drop too! It also means that demand by FTBs for pre-owned homes will go through the floor, collapsing a lot of chains and putting more downward pressure on prices - so all FTBs should benefit. Struck gold indeed!!

NEO72

MrRee wrote: »

In the South they are rising fast ............

Ooooookay....

Although London remains the most resilient area of the UK, pressure appears to be building with nearly a third (32.6%) of properties for sale in the capital having been reduced in price.

http://moneyfacts.co.uk/news/mortgages/sellers-making-record-reductions-to-asking-prices221111/