Surely not Estate Agents!
2006-10-17 22:21:38 · 13 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
This question for UK people.
2006-10-17 22:26:29 · update #1
People who are stupid enough to pay the disproportionate prices
2006-10-17 22:28:47 · answer #1 · answered by Anonymous · 0⤊ 0⤋
There are many factors that determine the value of homes.The Consumer Price Index,the Unemployment rate,Supply and Demand,Interest Rates and several other factors have definite impacts.Low unemployment and interest rates mean more people are working and mortgage payments are lower,allowing more people to be able to afford the cost of a house and thus increasing consumer confidence.This in turn may affect the supply or number of properties available.Due to the turn around time needed to create more housing,the demand exceeds the supply.Thus,the remaining properties rise in price until such time that the supply can exceed the demand.
2006-10-18 07:20:57 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Estate agents definitely talk up prices in any area. Their industry is mostly unregulated and therefore pretty much anything goes.
A lack of good property in any given area also causes bidding wars between competing buyers. The buy to let mortgage phenomenon has also lead to a decrease in the number of properties coming on the market.
2006-10-17 23:51:25 · answer #3 · answered by Furball 3 · 0⤊ 0⤋
Estate Surveyors
2006-10-17 22:23:37 · answer #4 · answered by sweetyp 2 · 0⤊ 0⤋
The House Committee on Energy and Commerce Democrats :: Democratic Views
2006-10-17 22:29:35 · answer #5 · answered by denise a 1 · 0⤊ 0⤋
It the major lending institutions coupled with the Monetary Policy Commitee (who set interest rates).
Buyers can only buy a house if a lender is willing to give them that amount of money & the interest rates are low enough to make repaying the loan affordable.
2006-10-20 06:11:42 · answer #6 · answered by Anonymous · 0⤊ 0⤋
Property speculators.
It started with Hong Kong property developers and speculators needing a new market after the crash here. They chose quite a few place, but London seemed to respond best, now Londoners are fuelling it more.
Don't believe me?
Ten years ago who was financing the building of high-end condos in London, and who was buying them?
2006-10-17 22:36:31 · answer #7 · answered by Simon D 5 · 0⤊ 0⤋
It's the people who buy houses. Simple free-market economics. If demand exceeds supply, the price will rise. If supply exceeds demand, the price will fall.
2006-10-17 22:33:42 · answer #8 · answered by scotsman 5 · 0⤊ 0⤋
Demand vs. supply. Economics 101.
2006-10-18 06:40:53 · answer #9 · answered by Anonymous · 0⤊ 0⤋
The market for real estate. Buyers willing to pay.
2006-10-18 03:35:40 · answer #10 · answered by kingstubborn 6 · 0⤊ 0⤋