Economic uncertainty is holding back housing market activity

wotsthat

http://www.bbc.co.uk/news/business-16139677

A growing proportion of surveyors believe that economic uncertainty is holding back housing market activity.

This was considered to be a bigger reason than the availability of mortgages and worries about house price falls, the Royal Institution of Chartered Surveyors (Rics) said.

However, the latest Rics survey shows a slight rise in buyer demand and sales in November.

More surveyors expect prices to fall in the coming months, than rise.

It's obvious that economic uncertainty is going to reduce housing market activity.Why remove a large chunk of cash from the bank if you think you might lose your job in the short term.

A bigger reason than fear of price falls and lack of mortgages though?

shortchanged_2

wotsthat wrote: »

A bigger reason than fear of price falls and lack of mortgages though?

Hamish, is that you?

This certainly doesn't tie in with Hamish's mantra even though it is pretty obvious the economic state is the main cause.

kabayiri

It's a fairly weak article, even if their suspicions might be correct.

If the local job market is a deciding factor you would expect significant differences in house buying patterns around the country. An argument for London commanding higher house prices is the greater density of jobs within easy reach.

Offering a belief of something is not a good analysis method.

MrRee_2

Why keep the money in the Bank at 3% - and at risk of a banking collapse.

Stuff it in property for 7% returns and for massive capital gains coming down the tracks.

shortchanged_2

MrRee wrote: »

Why keep the money in the Bank at 3% - and at risk of a banking collapse.

Stuff it in property for 7% returns and for massive capital gains coming down the tracks.

Hang on MrRee you're doing it again. You claim to be a balanced poster :rotfl: but that certainly looks like a blatant bit of property ramping to me.

MrRee_2

I am just presenting the facts, as I always do .... the wise hang on my words, the very clever act upon them.

AdmiralX

wotsthat wrote: »

http://www.bbc.co.uk/news/business-16139677 It's obvious that economic uncertainty is going to reduce housing market activity.Why remove a large chunk of cash from the bank if you think you might lose your job in the short term.

UK economy is based much on financial and other services which suffer also uncertainty also because of the eurozone debt.

Going4TheDream

MrRee wrote: »

Why keep the money in the Bank at 3% - and at risk of a banking collapse.

Stuff it in property for 7% returns and for massive capital gains coming down the tracks.

Fortune favours the brave it is true, however I am not sure with the current economic outlook and climate even with interest rates being low, how many would want to commit to a mortgage now, not knowing if they would still have a job in 12 months time. That fear is driving many to stay put I feel, despite what you are saying being predominantly correct

shortchanged_2

MrRee wrote: »

I am just presenting the facts, as I always do .... the wise hang on my words, the very clever act upon them.

Meanwhile back in MrReeland.............

'A battalion of mermaids fight off a rebellion by fairies riding unicorns wearing scuba gear.'

homelessskilledworker

shortchanged wrote: »

Hang on MrRee you're doing it again. You claim to be a balanced poster :rotfl: but that certainly looks like a blatant bit of property ramping to me.

He is just a frightened little man who has either purchased his council house/flat at a discount and is probably up for the first time in his life, as he see's it, or he has purchased around 2007 and is in deep dodo.

It is quite clear to me that he knows as much as the genuine bears on this board that a property crash is on the cards at the slighest shove or push

wotsthat

MrRee is one of the most entertaining sockpuppets we've had for a long time. Everyone does know he's a sockpuppet don't they?

I've had him on ignore for a couple of weeks but, as he's one of the most quoted posters here, I still seem to be getting the benefit of his wisdom.