Tuesday, 3 November 2009

Property prices on the up - or not

"Property cheer at last" - that was the front page headline in last Saturday's Western Morning News with its report that house prices continue to inch up. But in its piece the WMN records the comments of a few estate agents who were not quite so bullish about the housing market as one might expect: in my opinion they are usually far to eager to talk things up! And the massive problem of affordability for the first time buyer was flagged up being a huge stumbling block in much of this low wage peninsula.

So what will happen with house prices? I hope if nothing else that they are stable now and into the future. It's noticeable that the WMN weekly property supplement is getting a little thicker and that top of the range properties continue to be advertised for quite ludicrous prices. Near me two Cornish cottages are for sale (different vendors and estate agents) at prices that I would describe as "very optimistic" and I shall be interested in seeing how much they eventually sell for. I have to say that with the economy being very fragile and with more unemployment to come I am glad not to be in the property game.

A current news story concerns a family - somewhere in Devon I believe, don't know where - who were facing eviction from their rented property because their landlord had fallen behind on his mortgage payments. What a horrendous situation! But with their plight having been highlighted somebody has come to the rescue and that story seems to have a happy ending.

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