Doomed

[PRC1964]

http://uk.reuters.com/article/busine...LA209220071031

LONDON (Reuters) - Housing market will remain subdued into next year, while North America will remain "extremely challenging," the country's biggest housebuilder, Taylor Wimpey (TW.L: Quote, Profile, Research), said in a trading update on Wednesday.

[shaunbhoy]

UK house price growth 'picks up'

Observers are trying to work out which way the market is going
UK house prices rose at their fastest rate in four months during October, mortgage lender Nationwide has said.
Prices rose 1.1% in October from the previous month, taking the average house price to £186,044, it said.

On an annual basis, house prices rose by 9.7% from the same month in 2006, up from September's figure of 9%.

House prices in the three months to October rose by 1.9% compared with the previous three months, up from September's figure of 1.7%.

The three-month on three-month figure is often seen as a more accurate gauge of underlying price movements.

According to the Nationwide, house prices are currently being supported by a number of factors, including the low level of properties coming onto the market.

"Different factors could be driving the low level of instructions, including a reluctance to trade up amid current uncertainties and the fact that low unemployment is limiting the number of forced sales," said Nationwide chief economist Fionnuala Earley.

"The overall result is that the stock of unsold homes is still relatively low, and this is providing some residual support to prices," she added.

Other recent surveys from big mortgage lenders, the Royal Institution of Chartered Surveyors (Rics) and the Department of Communities and Local Government, have all been pointing in the same direction.

However, while there is evidence of a slowing in house price growth in many areas of the UK, it does not necessarily mean that the market will fall, the Nationwide said.

Referring to a report by the International Monetary Fund which claimed that UK house prices were overvalued, Ms Earley said it was "indisputable" that property values had climbed ahead of certain key indicators, particularly earnings.

But that did not mean that house prices were "destined to fall", she added. "In fact, in the absence of an early 1990s-style shock to unemployment or interest rates, they are unlikely to do so," she explained.

Shurely shome mishtake??

[Bagpuss]

LONDON (Thomson Financial) - House prices in the UK fell in October for the first time in two years and could well drop further over coming months, according to a leading property website.

Hometrack revealed that house prices fell by 0.1 pct in October. That follows two months of zero growth.

As a result, the annual rate of increase has dipped to 4.4 pct from 5.0 pct in September, providing further evidence that higher mortgage costs are beginning to bite.

'The fall in prices over October is not unexpected,' said Richard Donnell, Hometrack's director of research.

'After several months of weaker buyer confidence, falling levels of demand and declining sales volumes, prices were bound to be affected,' he added.

Donnell said he expects further small price falls in the months ahead but added that these are likely to remain limited because of supply constraints.

'If anything, the current uncertainty appears to be resulting in a decline in the numbers of homes coming to the market which is likely to support underlying prices in the coming months,' said Donnell.

A more detailed look at the survey shows that the areas registering above average house price falls in October of between -0.3 and -0.5 pct are largely concentrated in the higher value areas of London and the South-East.

[DimPrawn]

LONDON (Thomson Financial) - House prices in the UK fell in October for the first time in two years and could well drop further over coming months, according to a leading property website.

Hometrack revealed that house prices fell by 0.1 pct in October. That follows two months of zero growth.

As a result, the annual rate of increase has dipped to 4.4 pct from 5.0 pct in September, providing further evidence that higher mortgage costs are beginning to bite.

'The fall in prices over October is not unexpected,' said Richard Donnell, Hometrack's director of research.

'After several months of weaker buyer confidence, falling levels of demand and declining sales volumes, prices were bound to be affected,' he added.

Donnell said he expects further small price falls in the months ahead but added that these are likely to remain limited because of supply constraints.

'If anything, the current uncertainty appears to be resulting in a decline in the numbers of homes coming to the market which is likely to support underlying prices in the coming months,' said Donnell.

A more detailed look at the survey shows that the areas registering above average house price falls in October of between -0.3 and -0.5 pct are largely concentrated in the higher value areas of London and the South-East.

http://forums.contractoruk.com/gener...e-explain.html

[Bagpuss]

The one with the vested interest says rises when everywhere else including the RICS says falls. That tells you taking a mean of the whole UK is meaningless, but that wouldn't stop some numpties infering their property had risen.

[shaunbhoy]

The one with the vested interest says rises when everywhere else including the RICS says falls. That tells you taking a mean of the whole UK is meaningless, but that wouldn't stop some numpties infering their property had risen.

But some "numpties" would be correct in assuming their properties had risen due to regional variations etc. Those "numpties" of course being of the variety that own properties as opposed to the "numpties" that missed the boat and have been desperately praying for an "adjustment" for the last 4-5 years.

[Bagpuss]

Who missed the boat? anyway where's Spot (AssGuru)?
I bet one of the trannies on here has said something slightly sexual to him and he's off pulling his plonker again in the traps

[sasguru]

...he's off pulling his plonker again in the traps

I can find mine without the help of tweezers.

HTH

[sasguru]

Baggy's grandson (from a long line of artificial insemination): "So gramps, how much money did you make during the Biggest Property Boom in History?".

Baggy: "Err - have you done your homework?"