House Prices increase!!

[Aberdeen Shrimper]

Nationwide have just announced a rise of almost 1% in house prices, making the 5th month in a row that house prices has risen.

Surely a good indicator that we have reached the brow of this resection and are now on the decent, or maybe not??

I know everyone has been effectted in diffrent ways during this recesion, but I can honestly say that we have not noticed any diffrence what so ever in our daily lives, other than our mortgage has dropped by a huge amount.



http://uk.reuters.com/article/idUKTRE5910UN20091002

 

[Ron Manager]

I think it's a sign that the worse is over and a recovery (all be it a sloe one is on it's way). Just be wary of a double-dip, or W line if lessons aren't fully learned and people just sit back on their laurels that houses prices are on their way back up and their home is an ever increasing asset to be borrowed against.

I think this is where the high cost of funds to the banks may be a good restraining factor. They (we) are having to be very choosy who we lend to and be certain it's a good risk because we have limited finds to lend. This is no bad thing and a more considered, sensible and frankly old fashioned approach. Hopefully we never go back to the free for all of a few years ago where anyone and everyone could get a mortgage somewhere.

 

[Mad Cyril]

I think the rise has been caused by those who are desperate not to miss out on the next property price boom which they assume will occur as soon as the recession is over. After reading a few optimistic stories in the paper they have taken the punt that the market has bottomed out and now is the time to buy.

If the propert market is picking up I doubt I would have got a letter from the estate agent that sold my house four years ago asking us to recommend them to our friends.

If the recession is over no one has told Southend and every time I visit the high street (about every 2 months) it seems to have gone further downhill.

 

[SARF]

Billions of new made up pounds printed.. Never mind the recession worry about inflation! Best in that situation to own houses and shares

 

[number11]

I think the rise has been caused by those who are desperate not to miss out on the next property price boom which they assume will occur as soon as the recession is over. After reading a few optimistic stories in the paper they have taken the punt that the market has bottomed out and now is the time to buy.

If the propert market is picking up I doubt I would have got a letter from the estate agent that sold my house four years ago asking us to recommend them to our friends.

If the recession is over no one has told Southend and every time I visit the high street (about every 2 months) it seems to have gone further downhill.

The agents contacting you doesnt surprise me. As someone who is trying to buy at the moment, it looks like any rise in prices is being caused by lack of supply. Speaking to the agents they really appear to be scrambling around for houses to sell....and those few decent houses that are being put on the market are being snapped up, often for asking price or over. We haven't really found something suitable in other 4 months of looking....meaning if something suitable did come up we would probably have to consider paying slightly over the odds.

 

[Strykr]

The agents contacting you doesnt surprise me. As someone who is trying to buy at the moment, it looks like any rise in prices is being caused by lack of supply. Speaking to the agents they really appear to be scrambling around for houses to sell....and those few decent houses that are being put on the market are being snapped up, often for asking price or over. We haven't really found something suitable in other 4 months of looking....meaning if something suitable did come up we would probably have to consider paying slightly over the odds.

this is my current experience, estate agensts down here offereing free HIPS and everything. all the best places not even reaching the marketplace, just being sold to buy to let investors, sometimes without even seeing the flat!
bites...

 

[MK Shrimper]

Mrs MK's house is on the market and the estate agent told her that he's selling properties again within 4 weeks, though if that's estate agent ******** is another matter. I'm definitely seeing more "sold" signs up.