Estate Agents: Property falls not stagnation

brit1234

Chesterton Humberts revises forecasts downwards

Chesterton Humberts has revised downwards its forecast for the housing market in 2012.

It is now predicting that prices will end the year 2.5% lower . It initially predicted that average national house prices would remain flat.

The firm says that its reforecast has been prompted by quarterly contractions in the economy, and that despite Government initiatives to try and improve mortgage availability, approvals continue to slump and consumer appetite for borrowing remains weak.

Nick Barnes, head of research at Chesterton Humberts, said: “The property market is not in the position we expected it to be in this time last year.

“The uncertainty surrounding the economy has had a knock-on effect, with mortgage lending in particular, the appalling weather we have had since May and the distractions of the Queen’s Diamond Jubilee and the Olympic Games all impacting negatively on buyer activity.”

http://www.estateagenttoday.co.uk/news_features/Chesterton-Humberts-revises-forecasts-downwards

Things seem to be getting a bit pessimistic now.

I always thought when Estate agents talk of stagnation they actually mean falls. So when they call falls do they actually mean crashing falls.;)

FTBFun

http://www.chestertonhumberts.com/global/CHROME%20August%202012%20FINAL.pdf

I like the picture that shows 6.3% annual growth in London to June 2012.

I'll type your answer out for you:

Yeah but you're forgetting all the foreign investors that have propped up house prices are now flocking to Berlin for some reason I haven't explained; as well as liar loans, 125% mortgages, the stamp duty changes which increase stamp duty on homes over £2 million which of course affects loads of people like me, and when interest rates go back to normal etc

chewmylegoff

Brit, have you ever considered transferring to a different police force and just buying a property somewhere else. Chesterton Humberts seem to think that the East Midlands might be a good place for buyers.

I suppose if you did that you wouldn't have anything to go on about.

Aberdeenangarse

chewmylegoff wrote: »

Brit, have you ever considered transferring to a different police force and just buying a property somewhere else. Chesterton Humberts seem to think that the East Midlands might be a good place for buyers.

I suppose if you did that you wouldn't have anything to go on about.

I believe there's some ace bargains to be had down Maidstone way

brit1234

chewmylegoff wrote: »

Brit, have you ever considered transferring to a different police force and just buying a property somewhere else. Chesterton Humberts seem to think that the East Midlands might be a good place for buyers.

I suppose if you did that you wouldn't have anything to go on about.

It wouldn't be a good career move, far less opportunities, plus loose my pension if I need to transfer back. Anyway I an in a position to wait it out and the London market is really starting to weaken again.

FTBFun

You should have bought in 2009.....

wotsthat

Aberdeenangarse wrote: »

I believe there's some ace bargains to be had down Maidstone way

Thanks for the tip but you might have been misinformed. The houses there look really expensive.

Aberdeenangarse

wotsthat wrote: »

Thanks for the tip but you might have been misinformed. The houses there look really expensive.

No Sibbers told me there was a Housepricecrash, his home fell into the Medway :rotfl:

Mr._Pricklepants

chewmylegoff wrote: »

Brit, have you ever considered transferring to a different police force...

You telling me that the forum member who just recently admitted to electoral fraud on these forums is actually...a police officer? :rotfl:

Pete111

brit1234 wrote: »

It wouldn't be a good career move, far less opportunities, plus loose my pension if I need to transfer back. Anyway I an in a position to wait it out and the London market is really starting to weaken again.

It is?

I must tell my mate this when I see him tomorrow. He may not believe me given he's just sold the (basically unaltered) Wimbledon house he bought for half a mil in early 2007 for 730k.

But I will try to convince him...

brit1234

Mr._Pricklepants wrote: »

You telling me that the forum member who just recently admitted to electoral fraud on these forums is actually...a police officer? :rotfl:

What's the fraud please and where is the admission. Lots of people stay in London for work and then go home for days off. I challenge you to find any law about that but you won't so stop being so stupid and changing the subject.



Come on Sibley argue why the Estate Agents are wrong to say prices are falling?