| Topic: | Re:Tories told to sell up and leave Chiswick | |
| Posted by: | Francis Rowe | |
| Date/Time: | 26/06/15 17:40:00 |
| David, I think your suspicion on the origin of this item is spot on. It shows an embarrassing lack of knowledge of the way markets work. The fall in the number of transactions does not represent a fall in demand but a mismatch between demand and supply. In this case, as the article published on this site quoting a number of agents who seemed to know what they are talking about made clear, the problem at the moment is not one of falling demand but falling supply. If you don't want to believe estate agents the RICS (the surveyors' professional body) reached the same conclusion. My own view is that this is a structural change in the market. To buy a more expensive property transaction costs mean that it is not worth making a marginal upgrade. This in turn means that even someone with a substantial amount of equity in their existing property still needs to get a sizeable mortgage and in the current market these can be difficult to get. There are still plenty of buyers at the top end (anecdotally I'd say a lot of these are European bankers) who are permanently moving to work in the City particularly from France. But with more and more people reluctant to move there just aren't homes for them to buy. However I'd be interested to hear from someone who doesn't just form their opinions on what is going on based on conversations with friends and neighbours (i.e. like me). |
| Topic | Date Posted | Posted By |
| Tories told to sell up and leave Chiswick | 25/06/15 14:43:00 | David McLoughlin |
| Re:Tories told to sell up and leave Chiswick | 25/06/15 15:02:00 | Claire Moran |
| Re:Tories told to sell up and leave Chiswick | 25/06/15 15:03:00 | Charles Ryder |
| Re:Re:Tories told to sell up and leave Chiswick | 25/06/15 15:37:00 | Adrian Irving |
| Re:Re:Re:Tories told to sell up and leave Chiswick | 25/06/15 15:40:00 | Andy Pease |
| Re:Re:Re:Re:Tories told to sell up and leave Chiswick | 25/06/15 18:39:00 | Anne England |
| Re:Re:Re:Tories told to sell up and leave Chiswick | 25/06/15 18:58:00 | Peter Millman |
| Re:Tories told to sell up and leave Chiswick | 26/06/15 17:40:00 | Francis Rowe |
| Re:Re:Tories told to sell up and leave Chiswick | 26/06/15 17:52:00 | Adrian Irving |
| Re:Re:Re:Tories told to sell up and leave Chiswick | 01/07/15 16:26:00 | Lou Valdini |