Experts: Colchester's property market is healthy

Essex County Standard: Experts: Colchester's property market is healthy Experts: Colchester's property market is healthy

North Essex residents are being reassured national tales of looming problems in the housing market will not affect them.

Nationwide released statistics showing average house prices in the UK had leapt 11.1 per cent in just 12 months. 

Experts said such rises were unsustainble and could lead to another financial crisis. 

But Colchester experts say such fears are unfounded, with the market remaining much more stable.

They estimate price rises are about 4 per cent. 

Perry Rose, branch manager at Haart, said: "The Colchester market is moving, its strong, there are a lot of buyers, a lot of first time buyers and a lot of investors.

"The market is definitely strong, I don't feel there is a housing bubble in Colchester, I find it is steady."

 

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8:33pm Mon 9 Jun 14

Nom De Plume says...

Experts: Colchester's property market is healthy

The Definition Of An Expert?
Experts: Colchester's property market is healthy The Definition Of An Expert? Nom De Plume
  • Score: 3

12:05am Tue 10 Jun 14

Boris says...

Never trust an estate agent. What is "healthy" about a housing market where so many people can never afford to buy, and thus are forced to rent at high prices from private landlords? What we need is thousands of new council houses for rent.
Never trust an estate agent. What is "healthy" about a housing market where so many people can never afford to buy, and thus are forced to rent at high prices from private landlords? What we need is thousands of new council houses for rent. Boris
  • Score: 0

7:44am Tue 10 Jun 14

wormshero says...

Your expert is someone who profits from the property market? Couldn't make it up...
Your expert is someone who profits from the property market? Couldn't make it up... wormshero
  • Score: 1

9:29am Tue 10 Jun 14

Catchedicam says...

anyone can be an estate agent, no qualifications needed.. so how would that make him an 'expert' good old gazette..making it up as it goes along.
anyone can be an estate agent, no qualifications needed.. so how would that make him an 'expert' good old gazette..making it up as it goes along. Catchedicam
  • Score: 3

10:12am Tue 10 Jun 14

zt00013 says...

In 1998 the median house price to median earnings ratio in Colchester was 3.83. A ratio of 3 is considered affordable, anything above 4 and a sizable portion of the population begin to be excluded from the market. Thus requiring social homes or help vis-a-vis housing benefit. The ratio in 2013 was 7.13, still below the 2007 peak but it is fast catching up. 4% house price inflation far exceeds real wage increases and so further squeezes disposable income. Fundamentally, demand is sky high and there remains a desperate lack of land which restricts supply. The planning system has made land a scarce resource and is the root of many problems in the system. While the economic fundamentals remain so imbalanced the housing crisis can only get worse.

This guy at Haart is no expert. The people at SERC for example are housing policy experts, for crying out loud Gazette.

A good blog ran by academics from LSE for anyone interested in housing and planning policy: http://spatial-econo
mics.blogspot.co.uk/
In 1998 the median house price to median earnings ratio in Colchester was 3.83. A ratio of 3 is considered affordable, anything above 4 and a sizable portion of the population begin to be excluded from the market. Thus requiring social homes or help vis-a-vis housing benefit. The ratio in 2013 was 7.13, still below the 2007 peak but it is fast catching up. 4% house price inflation far exceeds real wage increases and so further squeezes disposable income. Fundamentally, demand is sky high and there remains a desperate lack of land which restricts supply. The planning system has made land a scarce resource and is the root of many problems in the system. While the economic fundamentals remain so imbalanced the housing crisis can only get worse. This guy at Haart is no expert. The people at SERC for example are housing policy experts, for crying out loud Gazette. A good blog ran by academics from LSE for anyone interested in housing and planning policy: http://spatial-econo mics.blogspot.co.uk/ zt00013
  • Score: -1

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