Rising demand and contracting supply have pushed house prices up 0.5% in the last month, Hometrack reported this morning.
The firm said that in November, demand grew 3% while supply dropped back by 3.5%. Over the last six months, demand has gone up 10.2% and supply has declined by 0.6%.
According to Hometrack, the supply/demand balance is very varied by region. The greatest imbalance is in London and the south-east where prices are up by 4.8% and 3.2% respectively in the last six months.
In contrast, the imbalance is smaller in northern regions where price growth has been under 0.5% over the same period.
Hometrack says that much house price growth outside London remains muted and “far from what could be described as a housing bubble”.
However, in November there were house price increases in 46% of postcodes – the highest percentage for over nine years – and price decreases in only 3%.
Hometrack also says that the next phase of Help to Buy could fall “short of expectations” because of the high costs of the mortgages.
Richard Donnell, Hometrack’s director of research, said: “Faster sales rates are eroding the stock of homes for sale, adding to the scarcity of housing.”
He said of Help to Buy: “The new build part of the scheme will support around 3% of all housing transactions a year, so its impact on wider house prices is limited.
“The mortgage indemnity part of the scheme has a much greater potential impact but the pricing of Help to Buy loans means they are expensive when compared to the cost of renting, the primary tenure for most would-be buyers.
“Buying a two-bed home with a Help to Buy mortgage costs 30% more a month than renting the same property.
“While Help to Buy is delivering a clear confidence boost to the market, the level of actual take-up may well fall short of expectations.
“The real demand side story, which tends to be over-looked, is record low mortgage rates.
“These are providing buyers with more buying power now than at any time previously. The announcement by the Bank of England to curtail Funding for Lending for mortgages is likely to result in mortgage rates drifting higher and reducing the buying power of households reliant on mortgages to fund a home purchase.
“It is important to note, however, that home owners using a mortgage to buy a home account for just six in every ten sales. Two-fifths of transactions are cash buyers and buy-to-let investors with a mortgage.”
In a separate house price survey, Knight Frank has reported that prices in prime central London rose by 0.2% in November, the slowest growth rate in almost four years. Stock levels are down by a third from a year ago.
Knight Frank says that vendors are waiting for further price rises because putting their homes on the market.
* According to the Bank of England, there were 67,701 approvals for house purchase mortgages in October, compared with a monthly average of 60,685 over the previous six months.
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Comments
"...and I'm merely doing to PeeBee what he's been doing to others."
Actually - no you're not - but you will never recognise or accept that.
"You usually find the bully doesn't like it when someone stands up to them!"
That then proves I am not "the playground bully" you have labelled me as - I am truly LOVING this exchange! ;o)
"Anyway, I've got a life to get on with, so I'll say cheerio SIR. I might stop by sometime in the future..."
(skip into the future - SEVEN AND A HALF HOURS or so...)
"I really am off this time, there is absolutely no point in flogging a dead horse..."
(but the horse seems to have found breath once more, some eight hours later...)
"That really is it this time, bye bye!"
Yeah...right! watch this space!
I don't think that a 'conscience' can just be switched off like that... can it? ;o)
How often is it that folk flounce off ‘never to return’?
One thing is certain that both ego and paranoia ensure they always have a little peek and on finding something arrogance ensures they have to post.
" some are deliberately vexatious, some genuinely stupid and others who are irritatingly persistent"......And of course PeeBee falls into all of those categories!
"but I don't think we have ever had a genuine stalker troll whose only aim is to attack a single poster for no explained purpose"....... If you had read other posts, you would understand my purpose, I happened on this site by accident and my curiosity was aroused, and I'm merely doing to PeeBee what he's been doing to others. You usually find the bully doesn't like it when someone stands up to them!
"My theory on your insomnia, money worries." I'm sure you'll be pleased to hear that I don't have either insomnia or money worries, I, (not that it is any of your business) go to bed generally around 1.30am and rise at 7.30am, and have a reasonably paid job.
"IF we can believe you when you say you are not an Estate Agent it means you could be an Online Agent that takes money from gullible people wanting to save a few quid employing a property professional or my pet theory is you are a disgruntled ex-EPC chap. Given the late hour of your posting I reckon you could be now something to do with the late night Lady programmes" ...... Sorry, none of the above, have another guess! "Do you have a permanent moustache? ".... actually, I've got a beard.
That really is it this time, bye bye!
Awww... just when I was beginning to enjoy myself I lose my new penpal! Typical. I had some questions for him.
But before I list them anyway (I have no doubt he's lurking...) - Happy Chappy you are quite correct - this is not the thread where this conversation should be happening and I hadn't realised that until I posted my response to my 'Conscience'.
SO... I'll carry it back over to the correct thread - leave this one to its' own conclusion.
See you here instead:
http://www.estateagenttoday.co.uk/news_features/Stamp-Duty-threshold
Over the years man many posters have come on here and had different opinions, some are deliberately vexatious, some genuinely stupid and others who are irritatingly persistent but I don't think we have ever had a genuine stalker troll whose only aim is to attack a single poster for no explained purpose.
Quite frankly you have spoiled the autumn edition of Pete Hendy reckons and I for one will be glad to see the back of you.
My theory on your insomnia, money worries. IF we can believe you when you say you are not an Estate Agent it means you could be an Online Agent that takes money from gullible people wanting to save a few quid employing a property professional or my pet theory is you are a disgruntled ex-EPC chap. Given the late hour of your posting I reckon you could be now something to do with the late night Lady programmes- Do you have a permanent moustache?
Actually, you're right, as of course you always are, I couldn't leave that one, as it's yet more CRYSTAL CLEAR evidence of your COMPLETE lack of understanding of the English language.
How, EXACTLY, is making the point that you DIDN'T say something putting words into your mouth????????
I really am off this time, there is absolutely no point in flogging a dead horse, you clearly can't read, can't comprehend simple english, so what's the point! I've tried to just make you stop and think about what you say, and also the way you say it, but we know who the one with the ego problem is, don't we SIR!
Perhaps you should change you nickname on here to PeaBrain, it would somehow seem more fitting.
Nighty Nite, and goodbye SIR!
"...but NOWHERE do you say what is wrong with their assertion that a considerably higher number of properties are sold between £240,000 and £250,000 than between £250,000 and £260,000."
Here you go again - putting words into my mouth that I simply didn't say/type.
Weakens your position - I've warned you before.
Anyway - see if you can keep up with me on this one.
I have no doubt that THERE IS NOTHING WRONG with their statistics. No-one is disputing the numbers they are quoting and relying on.
I have absolutely no doubt whatsoever that the same set of academics would be able to show IDENTICAL - or even HIGHER - stats for the numbers of properties sold at £120,000 to £124,999, than those sold between £125,001 and £130,000.
It is MY argument that Stamp Duty thresholds affect the price paid - and NOT the number of transactions.
Who, in their right mind, wants to hand over an EXTRA £1250 (or in the case of the 3% threshold, and extra £5000), when they can 'negotiate' and get the price under the magical figure that attracts this tax?
Once you get a chunk over, then it becomes immaterial and the figures paid mean less until you approach the next step up in taxation class.
For your info, this particular subject, as I said earlier, is raised more often than Mr Spock's eyebrows. This is the FIFTH 'story' to bounce across our screens since 7 August. It is nearly as popular (I prefer to give it its' proper title - "tedious") as "which new website is going to save the estate agency world NEXT WEEK...", and "Online Agent 'X', 'Y' or 'Z' predicts he will be 'last man standing' within three months...".
And yes - I've dug out a post from one of these examples of tedium in which I state... wait for it... MY OPINION on the matter.
Here, for your delectation, mastication, digestion and no doubt regurgitation, it is:
"I've said it before - I'll say it again. Stamp Duty at ANY level is something that we as Estate Agents simply 'deal' with in the negotiating process. Anyone who can't - shouldn't be selling property."
Strangely - that opinion isn't usually swallowed easily by those Agents who may have pitched their tent in the 'can't' camp...
And don't excite people by promising to disappear off the radar for a while - as that simply ain't going to happen, is it?
It's my opinion YOUR ego won't let you walk away now! ;o)
I welcome your call for debate!! However, you are posting on the wrong thread if your question is about Stamp Duty. While we are here though, you say it is stamp duty is unfair. why what is unfair about it? Is it the principle, or the amount?
Dear Jack, (or should that be Mr Russell, SIR!)
Sorry to have got your breed wrong!
You see, if you look at your post on the tread about stamp duty, you'll see where my problem is, you 'shout' "OH, COME ON!" and suggest that the researchers need educating in common sense, but NOWHERE do you say what is wrong with their assertion that a considerably higher number of properties are sold between £240,000 and £250,000 than between £250,000 and £260,000.
Those figures are in support of their claim that the stamp duty threshold has a major impact on the market.
However, all you do is say they are wrong, and then belittle the people who did the research, and this is typical of your approach. WHERE is your opinion?
you are of course fully entitled to believe them to be wrong, and it is evident from other posters that to carry out this research might not have exactly been rocket science, but that does not give you the right to belittle their efforts. And if you think they are wrong, explain why, and what you think the answer is.
Why not just try it for once SIR, you might just find that there will be some respect for your opinion, I do realise that you get enormous pleasure from your style of posting, but you might find that a real debate is just as much fun!
I will give you some credit though for adding some entertainment value to this site!
"For your starter for ten - where are YOUR opinions or suggestions on this topic in question?" Just to remind you AGAIN, I'm not an estate agent, I'm not the right person to be giving an opinion on here, but for the record, I think stamp duty is an unfair tax and should be completely scrapped.
Anyway, I've got a life to get on with, so I'll say cheerio SIR. I might stop by sometime in the future to see how you are all getting on, but in the meantime, PLAY NICELY!
"I rest my case!"
VERY poor case to rest on, Sir. You see, there is a huge amount of defence evidence that I have simply not disclosed mainly because I believed no-one gives a shizzle!
Maybe I was wrong - although I would suggest that you also give shizzle-not-one but my post gave you good reason, you believed, to do your usual and try to prick the conscience I haven't got.
Your reference to my statement does not take into account that, roughly every three months, some 'body' or other comes up with the old cherry that SDLT is sh@99ing the market - and that I am sure that I am getting as sick of writing MY OPINION as regular readers and contributors of this website are of reading them.
From only last week - call it "Exhibit #1":
http://www.estateagenttoday.co.uk/news_features/NAEA-urges-Chancellor-to-reform-unfair-Stamp-Duty
I really can't be @r$ed to search the archive to find other exhinits - even one where I actually 'contributed' - and to be frank my offerings on the subject aren't what most Agents want to read so they're fairly unpopular anyways - but if you insist, I will, I guess...
See - always giving. ;o)
Back to the case for the prosecution, no doubt...
'Not Peter Hendry'...'PeeBee's Conscience'... and whatever other guises you have donned in the time you have posted here...
Firstly - I didn't think for a second that you WERE the man himself. He hides behind MANY guises - but under NONE of them does he claim to be 'no expert' in all things property...
Now - to your post. "Why am I doing it, to try to highlight the inadequacy of the man..." Why? I never claimed "adequacy" so surely there is nothing to highlight the "in" of.
"...who, it seems does not have opinions of his own..." Really? Maybe you're just not LOOKING for them? In MY opinion, I have plenty of opinions on plenty of matters. Did you miss THAT one as well?
"... but merely wants to prove certain individuals wrong because they do things differently to his 'norm'..." Wrong - BIIIIG style. In MY OPINION, I simply question CLAIMS; to highlight and disprove FALSITIES. I would like to think that, in doing so, I redress balances. I do this by taking the statements made and comparing them against previous statements. YOU don't see it that way - so YOUR opinion is different to mine.
You first mentioned the word - I will repeat it as it is uber-relevant here - CONSISTENCY accounts for everything.
I don't go back on what I say. Neither, then should others - when claiming 'this' or 'that'. It blows apart their argument when some eejit like me chucks in their faces what they previously relied on as 'fact'.
"EVERYONE else that posts here actually offers an opinion, or their suggestions on the topic in question..."
SORRY?? And you say that it is ME wearing blinkers?
For your starter for ten - where are YOUR opinions or suggestions on this topic in question?
"On another recent thread, he finally had to back down and tell another poster that he had no right to tell him how to run his business..."
With respect - 60110ck$. Re-read what I said: "You are the business owner - you have previously clearly stated that you don't expect to knock doors out of walls from day one - I therefore trust that you are happy with the way things are currently growing. And... most importantly... who am I to say whether you are wrong or right? You are right. Your call. End of."
That is not backing down. I am saying that HIS 'right' will prevail. History will show whether his right actually was right or wrong.
I actually hope he succeeds. I've got to quite 'like' Mr Wells during our discussions - I just don't 'like' some of his claims - which I have made clear. Nor do I 'like' some of those of Mr Day - again which I have made clear. But in both of those cases, I have voiced my OPINION - giving clear reason and evidence why. There's two more for your bagful of my opinions you should be collecting - just to remind you that I actually DO have them and state them.
"I'm sure that underneath it all, there probably lurks an intelligent man..." YOUR opinion - not sure how many would agree with you on that...
"...and it may well be of interest to hear some real opinions..." How many MORE do you want?
"There do seem to be certain people who are the 'red rag' for PeeBee..." Hmmm - I'll almost give you that one. It's not people - it's what is SAID BY them.
"So my challenge to him, is forget personalities..." Ditto to the last statement - however unfortunately it is the SAME PERSONALITIES that make the statements I disagree with... so there we have a problem!
"...and show the maturity that might be expected from someone of your age and experience."
Sorry - gonna disappoint you big-time there. It just ain't me. Not my style.
BUT... at least I'll continue to be consistent with my immaturity!
Lastly... it's a demented JACK RUSSELL, thank you! ;o)
I prefer 'challenging' to 'attacking'
Just found this from PeeBee on another thread, in his typical style, he says in a disparaging way that the information is wrong, but nowhere does he tell us what he thinks are in fact the correct figures, or offer any evidence that the statement is wrong.
I rest my case!
......"The £250,000-plus threshold at which Stamp Duty becomes payable at 3% has a ‘devastating’ effect on sales, says new research.
It says there are 930% more transactions of homes priced between £240,000 and £250,000 than between £250,000 and £260,000."
OH, COME ON!
Methinks 'Cass Business School' researchers urgently need educating in common sense and 'the way of the world' if they are going to produce such MDT.".......
Every single one of your PB's C posts have been aimed at attacking him, the crime you accuse him of.
Possibly the first place to start is finding out why Mr Hendry is a red rag not just to Peebee but every right minded individual who reads EAT.
You obviously missed out on his idea that every agent should buy every unsold property (at the asking price) after 3 months of marketing because Agents have deliberately set the price too high.
You have obviously missed out on the fact that Estate Agents should not do valuations because they are unqualified.
Every 3 months or so (i am gusessing when the meds wear low) he comes up with a new idea. to which Peebee and others help him by pointing out the reality of his latest lunacy.
Peter Hendry ignores reasonable questions and dismisses any post which points to any gap in his thinking. You will note he still hasn't told us of any properties he has bought and hasn't yet claimed the reason to be a 100% success rate.
Next time you see St Peter explaining Old Nick why he can't enter heaven best look into the reason why before getting involved. For if you are in any way involved with selling property Peter Hendry knows you are doing it all wrong.
Sorry to disappoint you chaps, but I'm not Peter Hendry, whoever he may be!
Trolling? actually, what I'm doing is EXACTLY what PeeBee claims to do so well, quoting back his own words and posing questions, so I guess if I'm a troll, then PeeBee must have a big wart on the end of his nose, and live under a bridge too!
Why am I doing it, to try to highlight the inadequacy of the man, who, it seems does not have opinions of his own, but merely wants to prove certain individuals wrong because they do things differently to his 'norm'. I'm sure I'm not the only one who has noticed this. EVERYONE else that posts here actually offers an opinion, or their suggestions on the topic in question, PeeBee has a very different approach, and described himself somewhere as a 'Demented Terrier' perhaps he got the first part of that description right. He also seems to have some difficulty in answering a straight question with a straight answer.
On another recent thread, he finally had to back down and tell another poster that he had no right to tell him how to run his business, although the fact is, in his own style, he was not actually telling him how to run his business, just telling him he was wrong!
There do seem to be certain people who are the 'red rag' for PeeBee, I've not seen the prolific posting on threads about what many may consider the weightier issues that confront your industry. I suspect that may be because of the blinkered approach he shows.
I'm sure that underneath it all, there probably lurks an intelligent man, and it may well be of interest to hear some real opinions. So my challenge to him, is forget personalities, make your posts relevant to the topic and not merely saying someone is wrong, and show that you have a thought out opinion of your own, and show the maturity that might be expected from someone of your age and experience.
I don't imagine for one minute that I've achieved anything, so I'm not holding my breath.
Bye Bye SIR!
I think it is fair to say that Peter Hendry has lost yet another scurmish in his war to leave a lasting legacy on the property world.
The pity is that he is now putting all his energies into trolling Peebee; nothing from the poster ‘Peebee's conscience’ has added to this discussion, it has just been a series of futile attempts to get one over on Peebee. Another fail!
"I presume therefore, that either you've had a meteoric rise to success to hold all those positions in a year or so, or you worked in agency but for one reason or another did not survive the last crash in 2008, WHICH AN OUTSIDE OBSERVER MIGHT FIND STRANGE FOR SOMEONE OF YOUR OBVIOUS VAST EXPERIENCE"
Why "presume", when all you actually had to do was R.E.A.D what I typed.
For the benefit of the challenged among us, I repeat - with capitals for extra emphasis - what I posted only a few short hours ago:
"the minute amount of understanding that I DO possess has just about seen me SCRAPE THROUGH ALL THESE PESKY PEAKS AND TROUGHS OVER THE LAST 34-ODD YEARS by the skin of my teeth... DURING WHICH TIME I blagged myself... de dah, de dum, yadda yadda...WITHIN THE HOMESELLING INDUSTRY"
I ALSO draw your attention to two sections of posts on the thread you decided to leech onto me like a lovestruck puppy:
" "so where is he, what experience has he got to be such an EXPERT!"
I've covered BOTH points many, many times previously on this site. If you're THAT interested - look further down the page (about half-way, give or take...) where I've covered it already for another who demanded to know my 'qualification'."
BUT... seeing as you SEEM not to have followed that simple instruction... here it is only a centimetre or so down - hopefully making finding it a tad less difficult:
"For what it's worth - entered the property world in 1978 at a ripe old age of 16. Been a tea-boy... sales neg... manager... area manager... director... (in each one of them, making tea is the most challenging task!).
35 years and counting."
Of course, I now realise that BOTH posters were in fact you - which makes the irony even more delicious.
Not only could you not be bothered to check your facts before spouting off like a sperm whale on Viagra; you didn't even read a post that gave you exactly the answers you asked for and then banged on about it again, in another guise, hoping to maybe get a different answer to then shove up my nose?
Sorry - my consistency comes up trumps again.
Now - "Who's the numpty?"
Erm... that would STILL be YOU, Sir - and now carved in stone by your own blunt, useless tool.
"And about me PeeBee said......
".....he whose firm belief is that "somewhere at the end of the line, you need a first time buyer"... "
Sorry - are you saying I misquoted you? Allow me to be EXACT with my cutting and pasting, then:
"I am no expert, but I've always understood that somewhere at the end of the line, you need a first time buyer..."
Is THAT better? Does THAT make you look less of a numpty?
You see, here's my problem PeeBee, as you ALWAYS do, you choose to completely IGNORE the ACTUAL SUBSTANTIVE PART OF THE POST, to carry on with your feeble attemps at scoring points from the other side. You then further prove my point about your ego by telling us your history.
Interesting there though, that you said in the other thread, WHEN IT SUITED YOU TO DO SO, that you were NOT WORKING AS AN ESTATE AGENT at the time of making various posts on here. I presume therefore, that either you've had a meteoric rise to success to hold all those positions in a year or so, or you worked in agency but for one reason or another did not survive the last crash in 2008, WHICH AN OUTSIDE OBSERVER MIGHT FIND STRANGE FOR SOMEONE OF YOUR OBVIOUS VAST EXPERIENCE.
Who's the numpty? Mr PeeBee SIR!
"You do post DRIVEL PeeBee, but at least you're consistent! I'm probably not the first to tell you that, and I don't suppose I'll be the last."
So - you didn't quite understand what I stated, I take it. Pity - as the person I aimed it at understood it perfectly.
Ask nicely and next time I'll draw you a diagram for clarity.
And for the record I have always said I'm consistent!
"And about me PeeBee said......
".....he whose firm belief is that "somewhere at the end of the line, you need a first time buyer"... "
Sorry - are you saying I misquoted you? Allow me to be EXACT with my cutting and pasting, then:
"I am no expert, but I've always understood that somewhere at the end of the line, you need a first time buyer..."
Is THAT better? Does THAT make you look less of a numpty?
"Must be a bit difficult for that enormous ego to find out that there are people from outside your industry that seem to have a better understanding of it that you do, SIR!"
Yeah... I'm proper gutted.
That being said - the minute amount of understanding that I DO possess has just about seen me scrape through all these pesky peaks and troughs over the last 34-odd years by the skin of my teeth... during which time I blagged myself three Senior/Area Manager and one (TWO, if you count the one I recently turned down...) Directors' positions within the homeselling industry - so it just shows that the old saying is true as ever and a little goes a long way, doesn't it!
I am far from blinkered, 'Conscience'. My eyes CAN see everything - but I exercise my right to pick my scene, and always view it through rose tinted lenses.
Show me ANYONE different in that respect.
Now - are we doing another midnight shift? You seem to be getting a tad tetchy over the fact that people are talking about our late night discussions - maybe you want to give them a rest?
Wardy
Ok so lets call it help for first time buyers only, It still means scrapping the current scheme as it stands.
But we need to ask ourselves why do first time buyers need help with finding a deposit? Wouldn't it be better to fix the root cause rather than apply a sticking plaster.
I think it should be scrapped because it's servicing the wrong people. Not because its inflating the market.
We have 27 sales in the pipeline at the moment and only one of them is a HTB and that's at a purchase at £460,000.
Madness
OK Its in In state of constant change that i agree with, why did you not just say it in the first place!!!! :O)
As for the government they are trying to ensure house price inflation continues infinitum.....i.e. they want no change.
Why? because 25% of conservatives have BTL portfolios.
HTB was policy to do this because you need NEW buyers if you want to keep the asset bubble inflated.
Hi Wardy I think it should be scrapped because it is leading to asking price inflation not rising transaction levels.
Why do you think it should be scrapped.
'The market' WILL never change, as it is in state of CONSTANT change.
Therefore, the only way that it will change, is if it stops changing."........
You do post DRIVEL PeeBee, but at least you're consistent! I'm probably not the first to tell you that, and I don't suppose I'll be the last.
And about me PeeBee said......
".....he whose firm belief is that "somewhere at the end of the line, you need a first time buyer"...
But - like me - he admits to being no 'expert'...
So the housing market will work well when there are no first time buyers left, will it? By 'proceedable' buyer, I assume you are then referring to a buy to let investor, well, that should slow things up when that's all you've got left!
Must be a bit difficult for that enormous ego to find out that there are people from outside your industry that seem to have a better understanding of it that you do, SIR!
Keep those blinkers on, you're doing well!
Oh and I think it's my choice what time I retire at night, and what I do with my time!
"Sorry I can't completly agree with
"The market will never change. It will, as it has for decades, continue to act out its cycles - its peaks and troughs and NOTHING that I, he, you or anyone else for that matter 'do' to change that will succeed." "
Happy Chappy - PLEASE don't tell me that YOU don't 'get' it either!
'The market' WILL never change, as it is in state of CONSTANT change.
Therefore, the only way that it will change, is if it stops changing.
"...we can't change it but a government CAN/COULD change it..... they just dont want to."
Erm... according to your thought process, the Government ARE CURRENTLY 'changing it' with the provision of the HTB scheme - not that I've seen a single shred of evidence of that here 'oop North. I've read about it, though...
The rules are... there are no rules. You only THINK you know where the goalposts are - and when you commit to shoot... then they move.
There speaks my enormous ego.
Funny, though - how my anonymity kinda ruins the ego trip theory of my conscientious and knowledgeable friend - he whose firm belief is that "somewhere at the end of the line, you need a first time buyer"...
But - like me - he admits to being no 'expert'...
Funny how the time stamp says 01:06. Normal people are in bed at that time and even with a valid excuse not to be asleep didn't ought to have such an empty life that they are stalking internet posters.
Happy, Did you read the article?
Not that I'm saying HTB shouldn't be scrapped but it accounts for just 3% of transactions and I would say that's an ambitious figure. It is a p**s in the ocean.
You are barking up the wrong tree with that one.
Peebee
Sorry I can't completly agree with
"The market will never change. It will, as it has for decades, continue to act out its cycles - its peaks and troughs and NOTHING that I, he, you or anyone else for that matter 'do' to change that will succeed."
Firstly massive HPI and the odd crash has only happend since the seventies .....so the market has changed
Secondly we can't change it but a government CAN/COULD change it..... they just dont want to.
HPI is a a desired outcome from both major parties and UKIP. (Mostly because banks make money out of lending money and most money is lent on mortgages and the UK economy is almost entirley linked to banks)
I have highligted some ways the current bubble can be deflated now
i.e
Scrap HTB
Insist on maximum lending mutiples
Invest in massive social house building program
Introducing LVT
These policies will not be adopted unless the voting majority insist on it (one way or another). Most likely it will happen when the non owners vastly outnumber the homeowners.
A party will then try to appeal to them, this is probably two generations away but hopefully before.
Ahhhh, I get it. HPC right?
Another that thinks the estate agency illuminate are responsible for the new world housing order.
I don't need to get up in the middle of the night to check if PeeBee has bitten, I can guarentee that his enormous ego will take care of that!
Anyway, we have now also established that reading and comprehension are skills where he is also lacking!
If anyone else is bothered to read what I've said, you'll see that I am not part of your merry band, and have absolutely no idea who "Mr RR" is, or what his ideas or methods of working are, the point is merely to demonstrate that PeeBee is a pompous arse, who, it seems, does not have any original thoughts or ideas, but takes a bully like pleasure in telling anyone that does not conform to his 'norm' that they are wrong.
Oh and......"The market" will never change. It will, as it has for decades, continue to act out its cycles - its peaks and troughs... and NOTHING that I, he, you or anyone else for that matter 'do' to change that will succeed."...... of course, experts as you are, you all saw the credit crunch coming, didn't you!.... or perhaps not, you were all too busy rubbing your hands with glee and thinking about the money you were making as you sold another overpriced house to a first time buyer borrowing six times their income, without a thought that this was unsustainable. Now, prices, so I'm told are close to the pre credit crunch levels, but of course lenders are more circumspect, making property unaffordable for many, but don't worry PeeBee, you keep the blinkers on, it'll all be alright!
Hope 'Circumspect' was not too long a word for you SIR!
Awww... and in the end he made it SOOO easy...
Thanks, 'PeeBee's Conscience'. I figured that you would be far too arrogant to check out Mr RR. FIRST mistake. Now - with the exception of ONE person (who, if he isn't already your Dad will want to adopt you...), you have given yourself a credibility rating of zero, I am afraid.
THEN, rather than find out WHY I and the rest of the Estate Agency world (INCLUDING, by the way, your preferred Online varieties...) have so much to say in the direction of the man, you simply chose to pick out what YOU THOUGHT from my post and shoved it in my face. SECOND mistake.
You see, when you continue "seems from your post on the other thread, to be unable to remember the price crashes of the late eighties/early nineties, and 2008, stubbornly refusing to accept any possibility that it could happen again!" - that is EXACTLY MY POINT - it is YOU that have failed to grasp it. "The market" will never change. It will, as it has for decades, continue to act out its cycles - its peaks and troughs... and NOTHING that I, he, you or anyone else for that matter 'do' to change that will succeed.
YOU try telling that to Mr RR. The rest of the world have - but he just keeps "thinking outside of that box" of his, as you would put it.
But, of course, you won't do that - you admire him for his 'vision'.
You'll be lonely at the RR Fan Club Christmas Party - but at least you'll be able to hold it inside his box.
Peebee has got a stalker who posts late into the night then gets up to check to see if Peebee has bitten, then comes back again to add a post script.
Mr Hendry I don't think it was unreasonable to ask you if you have ever bought one of the properties you haven't sold within 3 months so to dismiss them as not warranting a response is a tad churlish.
It wasn't some government or RICS idea thrust upon you, you were the one claiming that no-one was listening to your plans to reform the way properties are sold. Surely demonstrating the success of the idea is the best way to attract buy in. If the scheme doesn't work with you running the pilot, what hope is there for us who are sceptical?
Oh, and just in case you'd forgotton this as well,
"You are the business owner - And... most importantly... who am I to say whether you are wrong or right?
You are right. Your call. End of."
YOUR words!
Nighty Night SIR!
"You see - I have NO CONSCIENCE ISSUES WHATSOEVER over what I say here." Actually, as I've said on another thread, that is VERY apparent.
I've no intention of finding our what 'Mr Realising Reality' whoever he might be, does, but I'm sure I'm safe to assume that he has different ideas and methods of working from yourself, and so therefore is obviously in your eyes a complete idiot, as it seems is anyone who thinks or acts differently to yourself SIR!
Perhaps I should go and check him out, if I knew who he was, the world would be a poorer place without people who think outside the box!
I've got some difficulty as well in listening to the opinion of someone who is so blinkered that they think, QUOTE: "SOME things - like the housing market - never change."... and seems from your post on the other thread, to be unable to remember the price crashes of the late eighties/early nineties, and 2008, stubbornly refusing to accept any possibility that it could happen again!
Nighty nite, SIR
"PeeBee's Conscience"
So THAT'S what you plan to be, is it?
Wish I'd realised earlier - I could have saved you so much time and brainstrain.
You see - I have NO CONSCIENCE ISSUES WHATSOEVER over what I say here.
Instead of teeing yourself up for a monumental shafting by a number of individuals who have endured years of Mr Realising Reality - may I respectfully suggest that you actually do some homework on his 'plan' (make that planS - he has a new one with every passing season...)
His woeful blogsite is as good a place as any to start.
Go on - knock yourself out. You'll be SO pleased you did.
In fact - why don't you check out his website while you are on? It could be a revelation. You may find that he offers the ideal service you seek!
You don't even have to thank me again for the push in the right direction. Anything to oblige.
"OR, perhaps, it's simply that YOUR 'WAY' isn't universally accepted ANYWHERE except inside your own mind...
No doubt you will blow some more then blow away for another day. SOME things - like the housing market - never change."
Interesting that you seem to have a particular gripe about certain individuals SIR! and you need to wake up if you really think the housing market will never change!
A quote from PeeBee on a previous thread:
"And... most importantly... who am I to say whether you are wrong or right?
You are right. Your call. End of."
Sorry if that chucks the tiniest of spanners in your machine - but then that's what I do - isn't it...?
I'm watching you SIR!
"Large numbers of people hate estate agents..."
Aww, come on PeeBee, give the man some credit, that's probably the most factually accurate statement he's ever made ;)
"Large numbers of people hate estate agents..."
Hate?? What a childish word to use, Mr RR.
Me - I HATE sprouts... eeeeuch!! I don't 'hate' ANYONE.
"...because of the way they do things. I know this because I... have experienced the problems first hand. "
Such as...? Come on - blurt them out.
"It's just that you among many other agents don't seem to want to consider that it may be your own methods which need improving and your fellow members do, in my experience, tend to go to almost any lengths not to make the necessary effort to change for the better."
Why would that be? IF there was a 'way' put forward that would universally benefit the housing market, then WHY WOULDN'T it be universally welcomed?
You're not making any sense.
OR, perhaps, it's simply that YOUR 'WAY' isn't universally accepted ANYWHERE except inside your own mind...
No doubt you will blow some more then blow away for another day. SOME things - like the housing market - never change.
Just checked out the website mentioned below.
Ground breaking.
Mr Hendry - would that be the same website that is populated with agents properties?
Yes, property Match UK, the site that is to SEO what pandas are to sexual prowess.
Give it up.
RR, you are the comedy gift that just keeps on giving.
I am outside London and it looks bubblicious here!!!
Ooops i forgot London = London and south east now!
"A bubble could be described as a situation in which asset prices appear to be based on implausible or inconsistent views" wikipedia
When talking about housing bubles the key measure is affordability. So we should should measure median house prices to the median wage
Nationally This ratio has gone up from 3.54 in 1997 to a peak of 7.23 in 2007 we are currently at 6.74
But lets look at some regional figures over the same period
Cotswold Glos = 5.46 to 12.07
Exeter = 3.24 to 7.29
Eden Cumbria - 4.09 to 7.23
Trafford 3.75 to 6.71
Yorkshire Ryedale 4.91to 8.23
As far as i can see the bubble that formed in the noughties has never burst.
Nothing in the two comments below warrants a direct reply.
Despite all your rantings and reckonings, claims and superiority you have failed to demonstrate any improvement in the existing system in the 5 years you have been banging on.
You can't stand out the front gobbing off to the class like some sort of Dickensian teacher if everyone, even with limited intellect and experience, realises that you are using sentences that have no meaning.
Going back to the first idea I recall you having, have you bought any of the properties that you have had on the market for more than 3 months?
RR,
Please give one example of where your new formula for the marketing of property has had a beneficial effect on your clients in either a sale or a purchase scenario.
Also I now notice that you are claiming that you were an estate agent at some point, I thought you were a surveyor that jacked the job in on moral grounds?
Has your moral high ground resulted in you walking out of every job you've ever had or are you telling a little porky pie?
Large numbers of people hate estate agents because of the way they do things. I know this because I am one of the end users, a house owner and have experienced the problems first hand.
I also know this because I have been an estate agent and have seen how improperly things are done. I did not want to continue working in such a tawdry 'profession' when doing so would merely add to the deception..
Our web site offers alternative ways, and the advice to suit, as you well know.
It's just that you among many other agents don't seem to want to consider that it may be your own methods which need improving and your fellow members do, in my experience, tend to go to almost any lengths not to make the necessary effort to change for the better.
That is why I am commenting here. It is a shame I even have to spell this out though.
"It's the 'marketing of each property' that needs improving"
Given that Estate Agency and property marketing is what you specialise in, and seeing how you have all the answers, why aren't you, after all these years, the absolute dominant force in the market?
I take it you are bored and not getting enough attention or feedback on your blog site Mr Hendry, why don't you join Adam Day and Matts wells and really show us agents a things or two. What is the latest cunning plan?
Even if house prices outside London are not getting the feel good factor that's no reason to start bolstering them up using 'Help to Buy' etc. It's the 'marketing of each property' that needs improving - not better financial marketing.