The article linked to below shows that confidence in rising house prices is now at the level it was in 2007. It seems that when the majority believe prices will go up then they go down and when the majority thing prices will go down then they go up (see confidence at the beginning of 2009).
Does this mean that prices are about to go down? I don’t know about that but it does show that you can’t trust surveys on confidence.
http://www.thisismoney.co.uk/mortgages-and-homes/house-prices/article.html?in_article_id=502424&in_page_id=57
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There's a house for sale in Enfield with market price higher than the record sale price for the particular street (record achieved in 2007).
ReplyDeleteMeanwhile a house I could actually afford in the same area literally had no front door. I wish that was a joke. If a software consultant can't afford a house with no front door, then house prices are way over priced. Yes maybe they'll sneak up during the Spring... but let's see what treats a change of Government brings.
Be patient, I reckon. Black September is on its way.
Seen any decent ISA deals? I haven't.
Well it wasn't black September, but a record 3.6% monthly decline on the HPI is a pleasing grey hue.
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