According to the RICS, there is an army of buyers out there, ready to jump into the property market and stabilize prices. Estate agents are inundated with enquiries. In fact, the volume of enquiries is actually higher than during the bubble years.Hungry buyers, the lowest interest rates in 400 years, and a government committment to stabilise house prices at any cost - that sounds like a recipe for a housing bubble.
Well said Mike - my thought exactly.
ReplyDeleteMost of the enquiries probably end up in cheeky offers. So a rising number of enquiries does not mean there will be rising house prices. If anything this will accelerate the falls. Most sellers who failed to sell at the peek are in still in a state of denial in my opinion.
ReplyDeletePerhaps we have passed peek committment. (Sic)
ReplyDeletemike - the data doesn't support your view. House prices are rising again. But don't let facts stand in the way of your opinion.
ReplyDeleteBuyer enquiries does not alter the simple fact that housing is overpriced in the UK. Who cares if some other sucker pays up?
ReplyDeleteThe banks cannot finance a housing recovery, they can barely roll over their existing debts, so all the UK idiots attempting to borrow their life away on housing won't change anything.
Gahh... the way some people talk you would be forgiven for assuming that 2007 prices were normal.