Housing confidence reaches two year high
Confidence amongst home buyers and sellers has reached a two year high with buyers’ confidence exceeding that of sellers for the first time in more than two years.
Research carried out by Propertyfinder.com, the UK’s premier property portal, indicates that for the first time in two years buyers believe that house prices will increase at a faster rate than do sellers over the next twelve months.
Buyers are forecasting a rise in prices of more than 7.5% over the next 12 months demonstrating continued confidence in the housing market.
The continued rise in buyers’ positive outlook highlights the pent up demand in the market place resulting from a shortage of properties available on the market.
Warren Bright, CEO of Propertyfinder.com said
This acceleration in buyer’s price expectations should be good news for sellers as it suggests that buyers will want to purchase properties before further price rises make them less affordable
Propertyfinder.com’s survey results over the past two years have proven to be a reliable predictor of future market activity. The latest month’s numbers suggest the market shall remain competitive into the summer months and that prices should continue on their current upward trend.
Comments
An awful lot of building is going on constructing new flats and apartments around the UK. However, I keep hearing from 'the man in the pub' that their is a glut of these types of properties on the market and prices will fall in this sector. Has anybody heard anything to support this or is it all complete nonsense ?
Posted by: kevin | May 27, 2006 09:18 AM
Strange how this prediction by house buyers is seen as "Confidence" in the market? Ah, the way the survey results can be taken to be positive.
I would see it as despair by a lot of house buyers, particularly first time buyers, one of which I am. I see house prices rocketing out of control, this is not a confident outlook on my part, it's disbelief and frustration about not being able to afford to buy a house.
Oh well, anything to swell the estate agents coffers even further!
Posted by: Chris | May 28, 2006 06:44 PM
Complete poppycock! If the market is so stable then how come my local property papers now have more 'New Price' properties than 'New' ones? The sooner people realise that houses are for making homes in and not 'profit on' the better. Ever rocketing house prices suceeds in doing very little that is good. It has succeeded in making it almost immpossible for first time buyers to ever own their own home whilst creating a thriving environment for parasitical 'developers' intersted in nothing other than a fast profit at all our expense! Just remember, if the value of your home has increased significantly so has everything else, so the potential 'profit' is completely negated unless you sell and live in a tent. Don't be misled by the hype of buy now before it's too late, most of this scare mongering comes by way of lenders trying to maintain demand and, hence, their share of the business.
A thought: if all the buyers of today took a year off their search then prices would drop like a stone. Those that had bought within the last few years would lose money but everyone else would still sell for more than they paid and then have to borrow less to move up the ladder. Now that wouldn't suit the building societies, would it?
Posted by: DJ | May 31, 2006 09:00 AM
You have got to be kidding!!?
Nobody that I know is at all 'confident' in the housing market (except of course Estate Agents and Lenders).
The stock markets are tumbling, Interest rates are on the way up, inflation is rampant.
The next few years may well prove to be very interesting for those connected with the property market!
Posted by: David | June 14, 2006 02:36 AM
I don't trust the surveys, a lot of gazumping is going on! The estate agents are pushing the prices up! They do not even pass offers to customer and say no to any offers. Even when an offer has been accepted, the estate agents put ads in the local papers and ask for any higher offers! The estate agents are price fixing the property prices!
Posted by: Dhyani Mehta | June 29, 2006 12:42 PM
my 2 cents...
Have a look at this graph:
http://www.housepricecrash.co.uk/#predictions
If you were born in the last 11 years, and therefore have no memory of prices going down, buy... after all, house prices always go up, don't they ?
If you want somewhere to live that is your own, and you plan to stay there for a long time, buy.
If that graph scares the hell out of you, and you believe that history repeats itself, sell, and run for the hills !
Posted by: Nick | June 29, 2006 01:58 PM
I met a couple of Americans in Regents Pk in 1997 and we were discussing the housing market and I predicted that prices would fall in the latter half of 2006, they were horrified it would take that long. Watch out. I predicted Charles Kennedy would resign, Tony Blair would not resign as promised and if he does in the next 2 years Gordon Brown will not be the nextPrime Minster - someone we haven't heard of will step in from no where. These I informed my friends long before any of these happen. Although I did say that England would win the Worldcup but that was just wishful thinking. My gut feeling is that property price will fall by end of 2006/2007 and we can help it by no paying the extortionate prices - you are fooling yourself - you are not making money if you are living in your home. As someone said previously - it is time we start thinking it's a home and not an investment.
Posted by: Silvie | August 9, 2006 10:08 PM
Hi there. Yes the country is over loaded with flats. I have flats in Scarborough and I can't sell at all, and its becoming near impossible to rent out. The developers are still continuing to buy up old peoples homes and develop them into flats. When will they realise what an overload they are causing.
Posted by: mandy | August 21, 2006 12:48 PM