Experts Don’t Have A Clue About UK House Prices

Written by The Landlord on 09 Feb 2007

It’s come to my attention that no one really knows whether house prices are going up or down, not even the experts. I have no qualms if someone doesn’t know the answer to a question, because that was me all through school, but there’s something distasteful about an expert just “blagging it”.

Evidently, the experts don’t have a clue because their opinions are conflicting with one another, so the question is, who are we to believe?

Examples of how “experts” opinions vary from another…

6th August 2006
Article on how after 3 consecutive months of minor rises, the market takes a knock, and prices drop in value by 0.6%.
House Prices Feel The Heat

13th November 2006
Asking prices jump by 1.3% according to the latest Asking price Index report.
House Prices Surge Toward A ‘Tipping Point’

13th November 2006
Analysts believe that UK house prices will fall by 20%. Apparently the heated market is about to cool down.
UK House Prices To Fall By 20%

8th December 2006
Halifax announce that property in the UK are still rising, making the annual change to 9.6%

19th December 2006
November saw the 13th consecutive rise in property prices. It’s the first time since March that their survey has not indicated significant growth in price (strangely enough that’s not what the other reports say).

30th January 2007
House prices rose by 0.3% in January, the slowest pace for eight months, according to the Nationwide.
UK house prices ‘start to cool’

What can we conclude from all this? No one has a fucking clue. Cheers.

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