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RICS: worst set of figures since records began

poppy10_2
poppy10_2 Posts: 6,597 Forumite
Part of the Furniture 1,000 Posts Photogenic Name Dropper
in Debate House Prices & the Economy
RICS reports that the balance of surveyors reporting house price falls hit 95%, up from 79% last month. The is the worst since records began in 1978.

Also, there were record lows reached in the number of transactions and in the number of new buyer enquiries.

Ouch! :money:
poppy10
«134567

Comments

  • brit1234
    brit1234 Posts: 5,385 Forumite
    1678038.jpg

    Great Breakfast reading
    :rotfl:
    or The Times as well.:D
    http://business.timesonline.co.uk/tol/business/money/property_and_mortgages/article3919487.ece
    :exclamatiScams - Shared Equity, Shared Ownership, Newbuy, Firstbuy and Help to Buy.

    Save our Savers
  • oldMcDonald
    oldMcDonald Posts: 1,945 Forumite
    poppy10 wrote: »
    RICS reports that the balance of surveyors reporting house price falls hit 95%, up from 79% last month. The is the worst since records began in 1978.

    Also, there were record lows reached in the number of transactions and in the number of new buyer enquiries.

    Ouch! :money:

    More RICS members are reporting falls now than they did in 1989-92? Does anyone know if there is somewhere online you can compare / view RICS data?

    I'm not doubting this news as it is good news for me and what I want to hear (!), but I'm interested in what the figures were back then.
  • Turnbull2000
    Turnbull2000 Posts: 1,807 Forumite
    RICs, CML, Haliwide media rent-a-quotes these past three years...

    2006 "House prices will rise as the fundamentals remain strong"

    2007 "House prices will stagnate as the fundamentals remain strong"

    2008 "House prices will fall only a small amount as the fundamentals remain strong"

    2009?

    :rotfl:
    Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam
  • poppy10_2
    poppy10_2 Posts: 6,597 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    Turnbull2000 wrote: »
    RICs, CML, Haliwide media rent-a-quotes these past three years...

    2006 "House prices will rise as the fundamentals remain strong"

    2007 "House prices will stagnate as the fundamentals remain strong"

    2008 "House prices will fall only a small amount as the fundamentals remain strong"

    2009?
    2009: "Fundamentals, fundamentals, lama sabachthani?" :A
    poppy10
  • carolt
    carolt Posts: 8,531 Forumite
    Looking forward to hearing some of our resident bulls put a positive spin on this one.... :D

    Aaah, I see it coming: But it's different this time...yes, it's worse.....:eek:
  • WTF?_2
    WTF?_2 Posts: 4,592 Forumite
    This is a great buying opportunity. Get in now before all those savvy investors jump in and snap up all the bargains. Don't miss out!

    :rotfl:
    --
    Every pound less borrowed (to buy a house) is more than two pounds less to repay and more than three pounds less to earn, over the course of a typical mortgage.
  • oldMcDonald
    oldMcDonald Posts: 1,945 Forumite
    carolt wrote: »
    Looking forward to hearing some of our resident bulls put a positive spin on this one.... :D

    Aaah, I see it coming: But it's different this time...yes, it's worse.....:eek:

    Or 'They won't let it happen'....

    or 'Once the BOE 50billion (or whatever amount it was) is released into the market then the credit crunch will be over'......

    or 'House prices will never drop in Cambridge/Poole/Scotland etc etc'

    Anyone else got one to add?
  • greektony
    greektony Posts: 143 Forumite
    Bagshot prices will never fall :)
  • pickles110564
    pickles110564 Posts: 2,374 Forumite
    !!!!!!? wrote: »
    This is a great buying opportunity. Get in now before all those savvy investors jump in and snap up all the bargains. Don't miss out!

    :rotfl:
    Not quite yet but it will be great, cant wait to be able to offer loads more of quality rental stock to those for unfortunate souls.
  • carolt
    carolt Posts: 8,531 Forumite
    pickles110564 wrote: »
    Not quite yet but it will be great, cant wait to be able to offer loads more of quality rental stock to those for unfortunate souls.

    Fantastic! Then we get a larger choice of places to rent, thus driving down rents, while you take on all the financial risk as prices fall! And then we get to buy them dirt cheap when your crumbling BTL empire is repossessed!

    Thanks mate - that's very public spirited of you!
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