Estate Agents trying to talk up the market..

[nicko31]

Seems Estate Agents are doing their best to try and talk up the market. Our economy is smaller than it was in 2007, inflation continues to outstrip wage rises and national debt is still going up. Round here Estate Agents are doing their upmost to talk up the market and try and push it beyond 2007 levels. Don't these people ever learn?

 

[Tricky Dicky]

I know quite a few people who have looked to move in the last 6 months, and all of them managed it without problem. My mum sold hers in 2 days and bought another in the same week. Difficult to know what the market is doing.

 

[Guinness Boy]

Sold ours in a month, despite it being small, for more than we bought it for - and we bought in 2007. Been gazumped on one that we were going to buy and about to put in an offer on another if we don't get beaten again. In Brighton, Hove and Portslade the guy's right, the market is on the move again.

 

[Randsta]

Well they are greedy selfish b*stards!

 

[abc]

Seems Estate Agents are doing their best to try and talk up the market. Our economy is smaller than it was in 2007, inflation continues to outstrip wage rises and national debt is still going up. Round here Estate Agents are doing their upmost to talk up the market and try and push it beyond 2007 levels. Don't these people ever learn?

The market is showing signs of waking up but I don't think the economic factors that you mention are that relevant any more. There is such a supply/demand imbalance in the south east that the only way is up for house prices, until many more houses are built. However with the passionate opposition to housebuilding by those already luckily enough to have one, means that there may never be enough houses to bring things in balance and make houses affordable to first time buyers and younger people.

 

[Triggaaar]

Don't these people ever learn?

Learn what? They tell buyers to pay more, they tell sellers to accept less. When houses get sold, they get paid.

 

[butchy]

The way they put pressure on landlords in London to up the rent at every possible rent review is nothing short of a ruse.....a year or so ago our commercial landlord at our business premesis got carried away with himself and increased our rent (after the first 18 months) by 45%.....bearing in mind the amount of free office space in the centre of London these days it goes without saying that we looked elsewhere and went through the thoroughly unpleasant task of moving offices......

they are just as bad with the residential London market too

 

[dragonred]

as someone who works and has a business in the area, (not estate agency I'd add) I've seen that this town's financial prosperity is incredibly and closely tied up to property, more so than most places i've lived in - if it moves freely and people feel good about buying and selling there is a feelgood factor that leads to other businesses doing well here too (DIY, furnishings etc) - so if we want to minimise the recession I personally do hope the agents talk the market up because confidence is key and without it there's not a lot of other industry or businesses to boost the City's future prosperity!

 

[Steveapps71]

as someone who works and has a business in the area, (not estate agency I'd add) I've seen that this town's financial prosperity is incredibly and closely tied up to property, more so than most places i've lived in - if it moves freely and people feel good about buying and selling there is a feelgood factor that leads to other businesses doing well here too (DIY, furnishings etc) - so if we want to minimise the recession I personally do hope the agents talk the market up because confidence is key and without it there's not a lot of other industry or businesses to boost the City's future prosperity!

this!!!! If estate agents/restauranteurs/all businesses/all individuals said we are all doomed & talked down all the time it would lead us all into deeper recession.
As far as estate agents are concerned, if people can afford a property/get a mortgage then all people that buy property are adults so it their decision
& shouldnt be based solely on what an estate agent might or might not say.
Tell you one thing on the up is the albion

 

[Herr Tubthumper]

as someone who works and has a business in the area, (not estate agency I'd add) I've seen that this town's financial prosperity is incredibly and closely tied up to property, more so than most places i've lived in - if it moves freely and people feel good about buying and selling there is a feelgood factor that leads to other businesses doing well here too (DIY, furnishings etc) - so if we want to minimise the recession I personally do hope the agents talk the market up because confidence is key and without it there's not a lot of other industry or businesses to boost the City's future prosperity!

I think TV need to commission more property programmes like they did in the good ol' noughties. These bloody cookery programme won't get the economy moving will they ?

 

[nicko31]

as someone who works and has a business in the area, (not estate agency I'd add) I've seen that this town's financial prosperity is incredibly and closely tied up to property, more so than most places i've lived in - if it moves freely and people feel good about buying and selling there is a feelgood factor that leads to other businesses doing well here too (DIY, furnishings etc) - so if we want to minimise the recession I personally do hope the agents talk the market up because confidence is key and without it there's not a lot of other industry or businesses to boost the City's future prosperity!

So basically you are saying build the towns prosperity is built on hope. The problem with Estate Agents hope it runs out in the end, at some point on the quantative easing is going to come home to roost. We will see higher inflation and higher rates, thats when the likes of some of the banks will realise they have toxic debt up to their eyeballs and people that can only afford mortgages on low rates. Talking up the market is downright irresponsible...

 

[Guinness Boy]

So basically you are saying build the towns prosperity is built on hope. The problem with Estate Agents hope it runs out in the end, at some point on the quantative easing is going to come home to roost. We will see higher inflation and higher rates, thats when the likes of some of the banks will realise they have toxic debt up to their eyeballs and people that can only afford mortgages on low rates. Talking up the market is downright irresponsible...

The difference now is that the Bank of England sets interest rates and has an inflation target to meet (i.e. keep it BELOW this). During the housing bubble property went up everywhere whereas now it is starting to react correctly to supply and demand again. The Bank know that they need to keep interest rates low both to get people spending rather than saving in areas doing less well as well as not killing the resurgence in London and the South East. If they had any sense at all they would also have measured the amount of QE they carried out against their inflation target and carefully balanced the two. The best thing government ever did was remove itself from the setting of interest rates. We haven't seen the 15 - 17% rates associated with the end of Thatcher since.

 

[Herr Tubthumper]

The best thing government ever did was remove itself from the setting of interest rates. We haven't seen the 15 - 17% rates associated with the end of Thatcher since.

This.

 

[vegster]

I can't see the market taking off due to the increasing mortgage rates. Bank of England lending rate at a historic low for the last what, 3-4 years ? yet recently the lenders have started upping their rates.

 

[Uncle Spielberg]

I can't see the market taking off due to the increasing mortgage rates. Bank of England lending rate at a historic low for the last what, 3-4 years ? yet recently the lenders have started upping their rates.

No they have been reducing them almost weekly since FFL came in. The trouble is they still only really want 75% ltv and under mortgages and those over that pay a premium. Lender have no appetite to lend at 90% and haven't for 5 years now. A 90% rate is still nearer 5%.

 

[vegster]

No they have been reducing them almost weekly since FFL came in. The trouble is they still only really want 75% ltv and under mortgages and those over that pay a premium. Lender have no appetite to lend at 90% and haven't for 5 years now. A 90% rate is still nearer 5%.

Ah, right..... I'm swimming in the Deep End here and you have longer legs, I'm just going by a couple of friends whose fixed term rates have jumped up sharply at the end of their terms.

 

[Uncle Spielberg]

Ah, right..... I'm swimming in the Deep End here and you have longer legs, I'm just going by a couple of friends whose fixed term rates have jumped up sharply at the end of their terms.

If they have come to the end of their fixed rate they are no longer on a fixed rate and paying the lender's variable rate. They need to talk to me.

 

[Vegas Seagull]

Out of curiosity is anyone out there doing non status mortgages anymore? And if do what is % LTV (previously 30% Deposit was virtually enough on its own wasn't it?)

 

[Uncle Spielberg]

Out of curiosity is anyone out there doing non status mortgages anymore? And if do what is % LTV (previously 30% Deposit was virtually enough on its own wasn't it?)

They went in 2008.