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Blog

House Prices....who do we believe?

20 Aug 2018   |   Sophie McKeown   |   0 Comments

If you were to search online house prices today you will be hit with several different news websites each having different stories or views on the housing market.

I have google alerts set up with “property prices” and each day I have at least one article sent to me.

Who do we believe, who should we listen to, what is the truth?!

Let’s take 2 examples I have received recently both with different stories/views and both from the same date.

Let’s take 2 examples I have received recently both with different stories/views and both from the same date.

“UK housing market is a bubble with Help to Buy pushing up prices, warns bank strategist” this was taken from the Property industry eye.

And

“Fall in house prices is just the beginning of a very bumpy ride” this from The Telegraph

So….the article from property industry eye talks about how the house prices are being pushed up due to help to buy scheme and that this could burst in the next recession, which would also wipe 80% off the value of equities and herald a new “ice age”. Basically in this article they are blaming ”free money” from this scheme and how we are lending buyers of new-build homes more money backed by the taxpayer to push up house prices even more.

Now the next article from The Telegraph have said house prices are falling and they claim the problem is that houses have become more of an investment than a place where people live and if only we could get back to the real purpose of homes – housing a family – prices would come down and the problem would be solved, they believe…..

These are the so called ‘experts’ and are paid to write about our industry, how much do they actually know?

Let me tell you what we know, we have been unexpectedly busy this year to date and although we are slap bang in the middle of the holiday period, the market isn’t showing any signs of this Armageddon style collapse. 

We are doing a lot of work on new build developments, but it is widely suggested that we are not building enough houses in the UK to meet the demand for homes anyway, so no danger signs there either.

None of our clients (the actual experts) are reporting a significant change in caseloads either so why these scare stories? could we be so cynical to think these news articles are deliberately contradicting each other just to keep us clicking away and keeping us coming back day after day to see if there is any  change of opinion?

I guess that is their job, but that seems more like marketing than journalism, so here is our pledge to you. We will keep you posted with any change in market direction, good or bad, but only when it happens, no guess work, no propaganda, just accurate data…..that is what we are experts in after all.

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