SunnySideUp

Lenders axe house price forecasts, they say that they have no idea whatsoever what is going to happen - so will not produce a forecast anymore until the markets settle! Holy Crap! Do they know something we don't?

BBC NEWS | Business | Lenders axe house price forecast

"We have never experienced conditions like this before"

Chris L

Do they know something we don't? - No, I'd say the complete opposite - they know no more than we do and have given up guessing what will happen to the market

Matteeboy

Now that is interesting!

I anticipate being able to buy the place we rent for £17.52 within two years.

lozgti

Think they tried to settle nerves a bit by spouting their daft %'s. Try and make it look a bit better than it was.

I'm a bit miffed having bought at the peak at what I reckon was a house overvalued by 35%...like the rest of the market.

Oh well.I'm not moving

dpb

probably too offputting stats for any prospectives - Cowards

fatherpierre

They've probably laid off the predictors as part of cost cutting

tanyatriangles

iTrader: (2)

Warned off by Lying Labour, just in time for a snap Spring election.

Who'd have thought it?

jjones

you keep on about this, but then in another breath mention they own the place outright. so why would they sell it when the market bottoms out??

njkmrs

It just shows even" Experts " dont know how or when things will pick up .

I take no notice of them now anyway .One says one thing then another contradicts them .

What will be, will be .!!

Crack on !!!

FlightMan

What don't you know Pete? Don't you know house prices will fall another
25 - 30%?

I'd wait 18 - 24 months before you buy that place on the beach.

dpb

Im not sure he can hang-on much longer - afterall its been a full 5 years since he predicted prices would dive

SunnySideUp

It's rare for me to be a bit unsure of what will transpire

However, I'm not really sure where the housing market is headed - this time.

dpb

LOL

unclebuck

Oh dear, and I thought you had just bought a luxury bungalow in an elevated sea view location in a prime area of the south coast for cash.

Bad news

cster

I'd be f*cking surprised if it's upwards - that's for sure!

SunnySideUp

Hmmmmmm, most say that would be impossible - but, where I am looking there are now more buyers looking with me than there were 2 months ago

Consequently, properties are starting to attract more than one offer - that would mean the prices are about where they need to be.

Confidence could fall away again in the New Year, of course. But some people are looking at their Bank Deposits and the pathetic returns they are getting and deciding that it would be safer and over the longer term, better, to put that cash into something else ....... maybe houses?

cster

I guess it's all about confidence and money supply.
I can't see the banks lending with the same gay abandon as they used to and that wont help.
The other thing is that if the banks don't offer decent interest to savers, where will they get the money to loan to borrowers?
As you can see my economic grounding is of a kindergarten level, but that should suffice for supply and demand issues(?).
Time will tell.

Leslie

It will be heading in the same direction as everything else when Flash runs out of money that he can borrow, same as they said to Callaghan.

Les