Home sales expected to rise, says Rics

MrRee_2

Sales expectations for the next three months were at their highest level since May 2010, the Royal Institution of Chartered Surveyors' (Rics) said.

The 1% stamp duty rate for first-time buyers, on properties worth between £125,000 and £250,000, is being reintroduced on 24 March.

Surveyors said that the mild winter had also helped activity.

Fewer surveyors than before expect prices to fall in the coming months.

This is IT - hang onto your hats .... we are in for a massive Spring bounce in House Prices!!

Mr._Pricklepants

Great news, thanks Mr.Ree. :T
Waiting for the usual doom & gloomers and their sockies to butt in
crash_bang_muppet? neg equity sockie? jimmy? you're slow today

MrRee_2

Thanks Mr. Pricklepants - I do believe it is good news.

What we are witnessing is the return of the FTB - they have now had 4 years to save a deposit (at £1,000 a month saved they are sitting on £48,000 as a deposit).

Trouble is, with them competing with the BTL Landlords, we shall see a mini boom in House Prices until the Stamp Duty holiday ends.

AndyGuil

Stamp duty holiday coming to an end causing a spike in demand. The overall demand is down. This does not bode well, especially with the stamp duty coming back. The Eurozone issue is hitting our shores now with the AAA rating under threat, this will make borrowing harder and more expensive. Inflation (which is coming down) is still ahead of salary growth and this has constricted cash flow for FTBs. The market is strangled and falling away. What was feared the most for the market was the rise in the cost of the mortgage which was believed to be controlled by the base rate, not when the cost of debt goes up, the base rate won't save stop the inevitable.

CRASH_BANG_WALLOP

Mr._Pricklepants wrote: »

Great news, thanks Mr.Ree. :T
Waiting for the usual doom & gloomers and their sockies to butt in
crash_bang_muppet? neg equity sockie? jimmy? you're slow today

mr ree with another sockie dude fails to see stamp duty ends soon. classic fail again

MrRee_2

Inflation down - payrises continuing at a pace - FTB's returning to the market in droves - cheapest money for a generation - cheapest house prices for decades.

This doesn't sound and look like a disaster unfolding to me ...... moodys can go sling their hook, the UK is in a great place - we are a nation of fighters - most will win through and are doing just that as we speak.

2012 will be the year where the winners stood up and took control of events ...... where the economy will be revived ........ losers will, sadly, still be losers

Mr._Pricklepants

MrRee wrote: »

Trouble is, with them competing with the BTL Landlords, we shall see a mini boom in House Prices until the Stamp Duty holiday ends.

Stamp Duty holiday ending won't have any negative effect at all.
Still nothing to pay under 125K so lots of FTB homes will stay exempt anyway.
And you can always chuck it into the mortgage. With the excellent fixed and variable deals around nowadays, the difference will be minimal.

Happy days indeed :T

AndyGuil

Mr._Pricklepants wrote: »

Stamp Duty holiday ending won't have any negative effect at all.
Still nothing to pay under 125K so lots of FTB homes will stay exempt anyway.
And you can always chuck it into the mortgage. With the excellent fixed and variable deals around nowadays, the difference will be minimal.

Happy days indeed :T

Not in the South there isn't. I expect most of that spike was houses in the 125-250k band and located in the South.

CRASH_BANG_WALLOP

MrRee wrote: »

Sales expectations for the next three months were at their highest level since May 2010, the Royal Institution of Chartered Surveyors' (Rics) said.

The 1% stamp duty rate for first-time buyers, on properties worth between £125,000 and £250,000, is being reintroduced on 24 March.

Surveyors said that the mild winter had also helped activity.

Fewer surveyors than before expect prices to fall in the coming months.

This is IT - hang onto your hats .... we are in for a massive Spring bounce in House Prices!!

The dude sibley has been outed!
Gotcha dude! :T

Sibley wrote: »

This is it. Hang on to your hats.

https://forums.moneysavingexpert.com/discussion/3792473

Mr._Pricklepants

AndyGuil wrote: »

Not in the South there isn't. I expect most of that spike was houses in the 125-250k band and located in the South.

Linky? Or is it just what you expect?

AndyGuil

MrRee wrote: »

Inflation down - payrises continuing at a pace - FTB's returning to the market in droves - cheapest money for a generation - cheapest house prices for decades.

This doesn't sound and look like a disaster unfolding to me ...... moodys can go sling their hook, the UK is in a great place - we are a nation of fighters - most will win through and are doing just that as we speak.

2012 will be the year where the winners stood up and took control of events ...... where the economy will be revived ........ losers will, sadly, still be losers

That is a very naive statement. The market is very dangerous at the moment. External issues are threatening the market now and this may cause severe long term damage to the market.