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Topic: Housing gloom 'worst in 30 years'  (BBC)
Posted by: Mark Perry
Date/Time: 15/04/08 08:02:00

Major lenders are expecting house prices to fall in 2008
Confidence in the UK housing market fell in March to its lowest point in 30 years, according to a closely watched survey of property surveyors.

The Royal Institution of Chartered Surveyors' (Rics) said that 78.5% more surveyors reported a fall than a rise in house prices in March.

This was the gloomiest reading since Rics began the survey in 1978.

The results come after leading mortgage lenders offered similarly downbeat views on property prices.

Rics said the next six months would be crucial for homeowners and would-be buyers in the UK.

The Rics house price balance dropped for the eighth consecutive month. It exceeded the previously lowest reading in June 1990.

Jeremy Leaf, Rics spokesman, said the gloom was the result of the credit crunch and its effect in stopping mortgage providers lending to each other.

"Sentiment is at a very low ebb and will continue to remain depressed while the economy suffers from this unique liquidity blight," he said.

But he added that a significant crash in prices remained unlikely and buyers with access to large deposits had the chance to get their hands on property they could not previously aspire to.

The survey follows March reports from the UK's two biggest mortgage lenders which reported month-on-month falls in house prices and predictions of a fall throughout 2008.

The Halifax last week reported a 2.5% fall in prices in March, the biggest monthly decline since September 1992 and the slowest annual growth for 12 years.

Prime Minister Gordon Brown and Chancellor Alistair Darling are meeting banks and mortgage lenders to discuss liquidity - widely regarded as the key factor affecting mortgage availability.

This has meant lenders are keen only to attract low-risk customers who can offer a significant deposit.

Some 49% more surveyors reported a fall than a rise in new buyer enquiries, up from 39% in January.

"Many would-be buyers are either struggling to raise the necessary finance to precipitate a move or are exercising caution in the light of current economic uncertainty," Rics said.

Falls in price

The falls in prices are particularly marked for flats and maisonettes and in certain parts of the country.

The sharpest falls were in the East Midlands and East Anglia, while slower falls were recorded in north-west England, Wales and London.

Scotland continued to buck the trend, with house prices reported to be rising slightly.

The stock of unsold property on surveyors' books declined by 1.3% compared with February, but up 50% over the year.



Entire Thread
TopicDate PostedPosted By
Property sales19/03/08 12:05:00 D Moore
   Re:Property sales19/03/08 13:29:00 Emily Robinson
      Re:Re:Property sales19/03/08 13:34:00 Will Watson
         Re:Re:Re:Property sales19/03/08 13:49:00 Fiona Campbell
            Re:Re:Re:Re:Property sales19/03/08 14:00:00 Bobby Charlton
            Re:Re:Re:Re:Property sales19/03/08 14:01:00 D Moore
               Re:Re:Re:Re:Re:Property sales19/03/08 14:13:00 Fiona Campbell
                  Re:Re:Re:Re:Re:Re:Property sales19/03/08 14:26:00 D Moore
                     Re:Re:Re:Re:Re:Re:Re:Property sales19/03/08 14:41:00 Fiona Campbell
            Re:Re:Re:Re:Property sales19/03/08 14:05:00 Bobby Charlton
               Re:Re:Re:Re:Re:Property sales20/03/08 00:04:00 Stewart Dean
      Re:Re:Property sales19/03/08 19:44:00 Lynne bruce
   Re:Property sales19/03/08 14:57:00 Margaret Wilcocks
      Re:Re:Property sales19/03/08 15:05:00 Will Watson
      Re:Re:Property sales19/03/08 15:20:00 Michael Webb
         Re:Re:Re:Property sales19/03/08 16:46:00 Francis Thomas
            Re:Re:Re:Re:Property sales19/03/08 17:25:00 Marlene Plimley
   Re:Property sales19/03/08 17:47:00 D Moore
      Re:Re:Property sales19/03/08 18:17:00 Will Watson
         Re:Re:Re:Property sales19/03/08 19:10:00 Tom Pike
            Re:Re:Re:Re:Property sales19/03/08 19:14:00 Kim Tebbit
               Re:Re:Re:Re:Re:Property sales19/03/08 22:19:00 Francis Thomas
            Re:Re:Re:Re:Property sales19/03/08 19:16:00 Will Watson
               Re:Re:Re:Re:Re:Property sales19/03/08 19:41:00 Tom Pike
                  Re:Re:Re:Re:Re:Re:Property sales19/03/08 22:16:00 Emily Robinson
                     Re:Re:Re:Re:Re:Re:Re:Property sales19/03/08 22:27:00 Martin Hime
                        Re:Re:Re:Re:Re:Re:Re:Re:Property sales19/03/08 22:44:00 Iain Muir
                           Re:Re:Re:Re:Re:Re:Re:Re:Re:Property sales20/03/08 09:46:00 Claire Moran
                              Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Property sales20/03/08 10:13:00 David McNeil
                                 Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Property sales20/03/08 19:32:00 Emily Robinson
                                    Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Property sales09/04/08 19:08:00 Lou Valdini
                              Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Property sales20/03/08 15:56:00 Stewart Dean
                        Re:Re:Re:Re:Re:Re:Re:Re:Property sales20/03/08 10:17:00 Paul Pryce
                     Re:Re:Re:Re:Re:Re:Re:Property sales12/05/08 17:36:00 Mary OConnor
            Re:Re:Re:Re:Property sales20/03/08 10:23:00 Will Watson
               Re:Re:Re:Re:Re:Property sales20/03/08 12:09:00 Tom Pike
                  Re:Re:Re:Re:Re:Re:Property sales20/03/08 13:12:00 Marcus Allon
                     Re:Re:Re:Re:Re:Re:Re:Property sales20/03/08 15:31:00 Russell Baines
                        Re:Re:Re:Re:Re:Re:Re:Re:Property sales20/03/08 15:54:00 Stewart Dean
                           Re:Re:Re:Re:Re:Re:Re:Re:Re:Property sales21/03/08 08:10:00 Peter Greenbank
   Is it a blip?08/04/08 13:26:00 Will Watson
      Re:Is it a blip?08/04/08 14:08:00 Mark Perry
         Re:Re:Is it a blip?08/04/08 16:25:00 Colin Murphy
            Re:Re:Re:Is it a blip?08/04/08 17:33:00 Sara Nathan
               Re:Re:Re:Re:Is it a blip?08/04/08 18:26:00 Iain Muir
                  Re:Re:Re:Re:Re:Is it a blip?08/04/08 19:44:00 Sara Nathan
                     There'll be trouble now...08/04/08 19:47:00 Colin Murphy
                        Re:A fair return on investment?08/04/08 20:04:00 Iain Muir
                           Re:Re:A fair return on investment?08/04/08 20:15:00 Sara Nathan
                              Re:Re:Re:A fair return on investment?08/04/08 20:23:00 Sara Nathan
   Re:Property sales13/04/08 17:46:00 Ian Newbury
   Re:Property sales13/04/08 18:49:00 David McNeil
      Re:Re:Property sales13/04/08 18:59:00 Ian Newbury
   Re:Property sales13/04/08 21:30:00 Martin Hime
      Re:Re:Property sales14/04/08 13:00:00 D Moore
         Re:Re:Re:Property sales14/04/08 13:51:00 Nigel Hunt
            Re:Re:Re:Re:Property sales14/04/08 14:11:00 Will Watson
               Re:Re:Re:Re:Re:Property sales14/04/08 14:25:00 Malcolm Peltu
         Re:Re:Re:Property sales14/04/08 16:04:00 Ian Newbury
            Cheap Mini's available?14/04/08 16:33:00 Iain Muir
            Re:Re:Re:Re:Property sales14/04/08 16:43:00 David McNeil
               Re:Re:Re:Re:Re:Property sales14/04/08 17:28:00 Ian Newbury
                  Re:Re:Re:Re:Re:Re:Property sales14/04/08 17:52:00 D Moore
                     Re:Re:Re:Re:Re:Re:Re:Property sales14/04/08 18:06:00 Emily Robinson
                        Re:Re:Re:Re:Re:Re:Re:Re:Property sales14/04/08 18:26:00 Ian Newbury
                        Re:Re:Re:Re:Re:Re:Re:Re:Property sales15/04/08 12:59:00 Stewart Dean
                     Re:Re:Re:Re:Re:Re:Re:Property sales14/04/08 18:16:00 Ian Newbury
                        Housing gloom 'worst in 30 years'  (BBC)15/04/08 08:02:00 Mark Perry
                           Re:Housing gloom 'worst in 30 years'  (BBC)15/04/08 08:16:00 Will Watson
                              Re:Re:Housing gloom 'worst in 30 years'  (BBC)15/04/08 10:02:00 Mark Perry
                        Re:Re:Re:Re:Re:Re:Re:Re:Property sales15/04/08 11:10:00 D Moore
                           Re:Re:Re:Re:Re:Re:Re:Re:Re:Property sales15/04/08 12:44:00 Iain Muir
                              Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Property sales15/04/08 14:43:00 Martin Hime
                                 Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Property sales17/04/08 15:47:00 Iain Muir
                                    Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Property sales17/04/08 18:58:00 Verification Required
                                       Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Property sales17/04/08 19:09:00 Ian Newbury
                                    Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Property sales17/04/08 19:15:00 Martin Hime
                                       Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Property sales17/04/08 19:25:00 Iain Muir
                                          Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Property sales12/05/08 11:30:00 David McNeil
                                             Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Property sales12/05/08 13:22:00 Barbara Deane
                                                Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Property sales12/05/08 13:57:00 David Greene
                                                   Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Property sales12/05/08 13:59:00 Rob Reynolds
                                                      Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Property sales12/05/08 14:24:00 Stewart Dean
                                                         Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Property sales12/05/08 14:50:00 Micki Hawkes
                                                         Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Property sales12/05/08 17:55:00 Andrew Flinn
                                                      Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Property sales12/05/08 17:11:00 Barbara Deane
                                             Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Property sales12/05/08 14:06:00 Colin Murphy
                                                Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Property sales16/05/08 23:59:00 David McNeil
                                                   Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Property sales17/05/08 00:17:00 Verification Required

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