Radio5 - houses to rise 40% in 4 years.

meanmachine_2

mr.broderick wrote: »

Devils curve sir...We're heading for an amazing turn of events very shortly...I will be around to say i told you so...;)

An amazing turn of events? What, like you backing up your arguments with facts rather than "feelings"?

I'd love to know how the housing market is going to turn around in the next six months when further falls have already beein baked into the cake, thanks to dismal mortgage approvals over the last six months.

kingkano

neverdespairgirl wrote: »

Less than a year ago, and oh so wrong.....

Not exactly. It depends on where in the sth east. For example -
avg price - quarter increase - annual increase - number sales

Sevenoaks
£401,403 9.3% 12.6% 328
Tunbridge Wells
£311,847 3.4% 3.2% 338
Dartford
£221,372 2.2% 8.4% 362
Gravesham
£215,683 5.7% 11.9% 300

some areas aren't faring so well

Tonbridge And Malling
£272,770 -7.7% 3.4% 326
Swale
£188,472 -2.1% 3.4% 469
Thanet
£181,689 -4.3% 3.4% 645
Medway
£174,149 -3.6% 2.7% 948

Sth east average though -

Change in last quarter: -1.2%

Change in last year: 5.9%

slipthru

mr.broderick wrote: »

Devils curve sir...We're heading for an amazing turn of events very shortly...I will be around to say i told you so...;)

Come on then share your secret then? Were all dying to know what your crystal ball says.

mr.broderick

meanmachine wrote: »

An amazing turn of events? What, like you backing up your arguments with facts rather than "feelings"?

I'd love to know how the housing market is going to turn around in the next six months when further falls have already beein baked into the cake, thanks to dismal mortgage approvals over the last six months.

Interesting meanie, so sentiment and feelings have nothing to do with all this then?Good to have you back anyway, sniff of a crash and they all come back out of the woodwork

mr.broderick

slipthru wrote: »

Come on then share your secret then? Were all dying to know what your crystal ball says.

Why would anyone want to know my insider knowledge ? It is pretty clear that !!!!!! and meanmachine don't value my input anyway ?

macaque_2

spurs_nut wrote: »

Only slightly more credible than those fools who think house prices will crash by 30%.

It's ok numpties, You just hang in there....... It will come, eventually.

Lol

Anoraks.

I think this post has more to do with hope than conviction. Prices increases of 150% over a few years are perfectly reasonable but, for you, a modest 30% correction is impossible.

Current UK house prices can only be sustained in a climate of artificially cheap mortgages and easy credit. The credit crunch has put an end to this. Mortgages will have to get back to a more sustainable 3.5-4 times earnings. That means a house price correction (not a crash) of at least 40%. Distressed sales at auction are already seeing discounts of up to 50%.

The next next problem we face will be inflation. My suspicion is that the government will suspend the BOE targets. At some point however we can expect higher interest rates accompanied by rising unemployment. We have had 10 years of credit fueled boom and now we have to face the bust.

aardvaak

suffolkb wrote: »

Some eggheads from the Oxford Forecasting group (something like that) are predicting this. Taking the average house price to £300,000. Seems unlikely, but I suppose their crystal ball is as good as anyone elses.

I have a crystal ball shall I have a look in it for you?

slipthru

mr.broderick wrote: »

Why would anyone want to know my insider knowledge ? It is pretty clear that !!!!!! and meanmachine don't value my input anyway ?

Just thought you would want to take the opportunity to back up your statments that the housing market will be on the rise again in six months with some evidence.

What with the banks still having problems and that not looking to go away for a while yet, how exactly is the bubble going to continue all of a sudden?

Doc_N

Just found this old thread. Still not getting any better, is it? At least, not if you're a BTL merchant who bought at the peak!

phlash

*Chuckles*