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Today's Headlines:

House prices fall or rise (take your pick)
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House prices went up slightly – by 0.4% – in July, the Land Registry has reported. It

Knight Frank stay quiet after conman is jailed
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A tenant who faked his identity when renting through Knight Frank has been jailed for three

Rich overseas buyers keep prime London market aloft
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Chinese buyers are expected to replace Russian investors as major players in the prime central London

Moving occasion: today's the day!
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The most popular moving date is today, September 1, the Post Office has revealed. The two next

Prospective first-time buyers sink to new low
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The proportion of buyers expecting to buy for the first time in the next 12 months

Housing market 'edging towards double dip' claim
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Net lending plummeted in July to the second lowest monthly figure since records began in 1993,

Henry Pryor Blog
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Welcome to a new monthly blog by Henry Pryor, estate agent turned entrepreneur, inventor and expert

Rightmove profits climb 39% as more agents sign up
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A rise in the number of agents and an overall willingness to pay more to Rightmove

Portal creates new 'check out your competition' stats
1 comments
Property portal Home has created some new statistic pages on its site which we reckon will

Six in ten mortgages are now for house purchase
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The proportion of mortgages being taken out for purchases, as opposed to remortgages, is at its

News Story

Banks expect house price rise over next 12 months

Monday 22nd June 2009

Property prices are expected to rise by an average of 1.4% over the next year, according to the latest Building Societies Association tracker survey.

It found that cautious optimism has returned to the housing market. Previous results showed that respondents predicted a 6.1% fall in prices in the March survey and a 7.1% annual fall in June 2008.

However, 61% of respondents cited job security as a major barrier to house purchase – the same proportion as in the March survey.

Paul Broadhead, head of mortgage policy at the BSA, said: “People clearly recognise that with both property prices and mortgage rates having fallen, there are potential bargains to be found, meaning that now is a good time to buy.

“However, for many, concerns over job security mean that they are unlikely to actually go ahead and buy. They will need to see confidence in the jobs market return before they make their move in the property market.”

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Posted By PeeBee on Thursday 25th June 2009 16:17:42

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MonkeyTennis - your upset is understandable. You had a 50:50 call - you made the right decision unfortunately too early for it to work in your favour. You could so easily have been right, of course - in which case you'd have a completely different outlook on the current situation. This is the problem - that NO-ONE has a 100% unbiased opinion on the market. In reality, everyone should look to property value growth as a good thing - it is the uncontrollability (and rapid onsets) of the rises and falls which cause the laughter and tears. Just remember, by the time you see a rise in the market, you will already have cost yourself in terms of purchase price. If your next home will be, as you so aptly put it, simply a roof over your head, should you not consider doing the deed now and not let if's, but's and maybe's cloud your decision? Even a smaller property than your last one will at least give you a foothold...

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Posted By MonkeyTennis on Thursday 25th June 2009 15:48:30

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PeeBee it was certainly not you that upset me and just the situation. When will people realise that a house is for living in and not just a cash machine thats what upsets me. I sold my house in 2004 as I could see an almighty crash comming and moved back home with my mum and dad. Now I cant afford to by my old house back unless prices fall 50%. from 2007's peak. So now you know why im so bitter.

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Posted By PeeBee on Thursday 25th June 2009 13:57:00

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Monkey Tennis - you say "Ok maybe I went over the top with 50-60% I was just upest and picking a figure from thin air." Not like you, Sir - your posts are normally well thought-through and on the mark. Respect for owning up to your little overreaction - although I hope it was 'the situation' that upset you, not yours truly...

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Posted By PeeBee on Thursday 25th June 2009 12:56:03

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Peebrain - not at all. If you look you will note the FIRST comment to this story is in fact mine. I then responded to Monkey Tennis' post. MY point was...still IS...that 'good' news never seems to attract any comment from EAT readers - you all simply want to add weight to negative press. Self fulfilling prophecies are just that - and you now all seem not only to believe them, but are quite happy to allow them to worsen the situation. An Estate Agent's primary function is to achieve the best possible result (ie highest price in the optimum timescale tailored to the clients' needs) for their client - in the vast majority of cases, the seller. Downselling just to get a property off their books/'sold' sign up/make up the numbers to appease the boss should not come into the equation. But we ALL know that it does.

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Posted By Big fat banker on Wednesday 24th June 2009 21:08:27

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.............come on then banks if its all okay then start lending and get prices back up so all us agents can go to barbados on holiday again and get a new 911, most of all it would be great just to wind BIG BILL up whos obviously a peasant that could last afford a house in 1991

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Posted By MonkeyTennis on Wednesday 24th June 2009 13:55:06

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Ok maybe I went over the top with 50-60% I was just upest and picking a figure from thin air. But the truth is I dont want to stay living with my Mum and Dad for ever and its not fair that I didnt buy a house when they were cheaper and its just not fair.

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Posted By Mike Shitside on Wednesday 24th June 2009 13:50:58

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Monkey Tennis "you remind me of a young jonathan davis" 50-60% fall!!! Dont get me wrong I am a realist and dont expect to see a huge turn in the market upwards, but I am will to take a bet that prices dont come down 50-60% you doom mongering, rent for ever, bitter and twisted tosser.

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Posted By Peebrain on Wednesday 24th June 2009 12:36:23

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Took someone esle to let you comment Peebee?

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Posted By BIG BILL on Tuesday 23rd June 2009 16:16:19

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Well said monkey tennis , house prices are still unaffordable to the vast majority out there .
Prices NEED , MUST and WILL drop to more affordable levels despite what various vested interests might want .

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Posted By PeeBee on Tuesday 23rd June 2009 11:45:08

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MonkeyTennis - you took your time...but you came up with a beaut! Knew I could rely on the regulars to pee on the fireworks!

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Posted By MonkeyTennis on Tuesday 23rd June 2009 09:44:31

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Its very simple. Fiscal Stimulus + 0.5% base rate have made properties affordable. Any house price rises we get now will be shortlived as the fiscal stimulus + 0.5% base will ensure a build up of inflation in the near future. This in turn will lead to higher interest rates to stave off inflation = higher mnortgage repayments. Add the growing failure of business and rising unemployment, house price will be ridiculously out of reach. In the nadir of 1995 affordability for a strater 1 bed flat was 2x average wage. Now its 5 x average wage. So about 50%-60% fall in house prices to come basede on the last property recession. Happy days.

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Posted By PeeBee on Monday 22nd June 2009 13:09:25

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The silence from you all is deafening! Wassup - finding it hard to turn a positive into a negative?

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Editorial Contact Details - Rosalind Renshaw | rosalind.renshaw@estateagenttoday.co.uk | 01252 843 566.