mrpleasant Posted February 19, 2012 Share Posted February 19, 2012 Mortgage broker friend (South East) complains Feb has been his worst month EVER - £zer0. Any panic to beat the stamp duty holiday has probably fallen out of the figures and we had a fall last month anyway. Having said that, I've seen a couple of properties come on in recent weeks (Cardiff) for beyond-stupid asking prices. (There's 'trying it on' and there's barking.) Without looking at previous Febs, I'd guess it's one of those months that always sees a rise and I'm preparing myself for such. Quote Link to comment Share on other sites More sharing options...
kev-all-in Posted February 19, 2012 Share Posted February 19, 2012 It's the 'spring bounce' innit.... blah blah blah. Quote Link to comment Share on other sites More sharing options...
Asheron Posted February 19, 2012 Share Posted February 19, 2012 95% mortgages are back ? Quote Link to comment Share on other sites More sharing options...
lurker07 Posted February 19, 2012 Share Posted February 19, 2012 Asking prices are irrelevant. Quote Link to comment Share on other sites More sharing options...
Pent Up Posted February 19, 2012 Share Posted February 19, 2012 Asking prices are irrelevant. Yep, this index is a waste of time. It only dropped about 6% at the worst other than that it's been roughly the same since 07. Quote Link to comment Share on other sites More sharing options...
Democorruptcy Posted February 19, 2012 Share Posted February 19, 2012 +5.3% (Feels like my area contributed most to the rise) Quote Link to comment Share on other sites More sharing options...
Northern Ruck Posted February 19, 2012 Share Posted February 19, 2012 Was a big jump last February that will fall out of the numbers.(+3.10 % to £230,030) YOY change should bomb to -2.6% even if they say this month was flat and prices stay around £224,000 Asking prices that is. Could cause some nice headlines tomorrow, but only if Greece situation doesn't go boom !! Quote Link to comment Share on other sites More sharing options...
NEO72 Posted February 19, 2012 Share Posted February 19, 2012 easy to call +1.5% at least guaranteed 100% Agreed. Although, lack of new stock = EAs getting more desperate to win new instructions = even more ludicrous valuations. A 3 or 4% wouldn't even surprise me - cue Miles telling vendors that they're deluded, fundamentals won't support rises like this etc etc. Quote Link to comment Share on other sites More sharing options...
rantnrave Posted February 19, 2012 Share Posted February 19, 2012 This index is NOT seasonally adjusted. In the hope of any Spring Bounce (ha ha!) I would expect UP something in the region of 3%. Quote Link to comment Share on other sites More sharing options...
danlee74 Posted February 19, 2012 Share Posted February 19, 2012 Always +ve in Feb!!! 2005 +2.3% 2006 +2.7% 2007 +0.9% 2008 +3.2% 2009 +1.2% 2010 +3.2% 2011 +3.1% In my opinion, anything below 1.2% would be interesting. Also, I remember the previous report where they highlighted a 1.6% increase in two weeks during January. I would not be at all surprised to see a figure around 3% tho - got to keep the public confidence in piles of bricks high :angry: . Quote Link to comment Share on other sites More sharing options...
plummet expert Posted February 19, 2012 Share Posted February 19, 2012 Asking prices are irrelevant. I absolutely agree! The only thing that counts is sold prices and transaction numbers. The number of sales going through is fairly low. So many houses come back on with anew agent trying it on again. The difference in price between 'homes that are selling' and the asking prices of 'homes that stay on the shelf' is now very substantial indeed. It is as if 2 markets are apparent. One with a flicker of reality attached and another in the parrallel universe where a few old victorian bricks and a new kitchen= £up to a million pounds in London or even a half million elsewhere. Spoke to an agent on Friday - looked at a rental which is also for sale - he was strangely loose with info - no interest in the property as a sale atall - 3 viewers for rent - all had put in vastly lower rent offers (30% below asking). So we put in a 25% below rent offer. Lovely house, but half the price to rent than buy. Does that tell you anything? SE Quote Link to comment Share on other sites More sharing options...
The Masked Tulip Posted February 19, 2012 Share Posted February 19, 2012 It will be up. The media will latch on to it in a frenzy, as will EAs. It is all meanginless. Banks are lending less and the housing market appears caught up in spin and hype. Quote Link to comment Share on other sites More sharing options...
danlee74 Posted February 19, 2012 Share Posted February 19, 2012 Are these mom then? Yes ... http://www.forexfactory.com/calendar.php#chart=40583. Quote Link to comment Share on other sites More sharing options...
timebandit Posted February 19, 2012 Share Posted February 19, 2012 Over on MSE they are reporting arise of +4.1% Average Property Asking Price £233,252 £224,060 Change in Month +4.1% -0.8%% Change in Past Year +1.4% +0.4%M· Quote Link to comment Share on other sites More sharing options...
rantnrave Posted February 20, 2012 Share Posted February 20, 2012 Over on MSE they are reporting arise of +4.1% Correct Quote Link to comment Share on other sites More sharing options...
inflating Posted February 20, 2012 Share Posted February 20, 2012 Asking prices may be skewed upwards by people such as a vendor on RM who is trying to sell an utter dump for £199K that the vendor he bought it from had struggled a year to shift at £160K in 2010/11 These optimists will impact the index. It's the eventual selling price that matters In late Jan I saw a lot of asking prices fall anyway after they tried it on, or tried to skew the RM index - let's not forget that some idiotic agents don't realise they are shooting themselves in the foot by talking the market and vendors' expectations up on their forums and Industry mags Quote Link to comment Share on other sites More sharing options...
sims Posted February 20, 2012 Share Posted February 20, 2012 Interestingly though, London prime areas are nowhere near as positive with K&C at -1.9 and Camden at +0.2 mom. Quote Link to comment Share on other sites More sharing options...
phead Posted February 20, 2012 Share Posted February 20, 2012 LOL, I was going to go for a "greed is good" guess of 5% The market seems slightly bonkers, there are some things out there at a "reasonable" price, then I find two identical houses next door to each other with a 60K difference. Quote Link to comment Share on other sites More sharing options...
thecrashingisles Posted February 20, 2012 Share Posted February 20, 2012 Good to see home owners sticking together and not letting the lack of sales intimidate them. Another few weeks of this and people will be forced to buy. Sibley would be proud. Quote Link to comment Share on other sites More sharing options...
inflating Posted February 20, 2012 Share Posted February 20, 2012 In November it was record drops http://www.thisismoney.co.uk/money/news/article-2064167/Rightmove-Sellers-drop-asking-prices-largest-start-recession.html Now it's record rises, highest in 10 years http://online.wsj.com/article/BT-CO-20120219-705182.html It's laughable really, smells a tad fishy It is supposedly NEW to the market sellers' asking prices Prices rose in all regions covered by the survey, the largest was a 6.9% rise in south-east England, followed by a 5.6% increase in northern England over the same period. Quote Link to comment Share on other sites More sharing options...
RufflesTheGuineaPig Posted February 20, 2012 Share Posted February 20, 2012 Trouble is it only takes a few people with unlimited ready cash to believe this and houses start to move at more than their true value. Fixed. Quote Link to comment Share on other sites More sharing options...
getknk Posted February 20, 2012 Share Posted February 20, 2012 Thanks for digging those numbers up. Illustrates beautifully the complete nonsense that is the Rightmove index. Notice how the biggest monthly rises have occurred post 07. A totally deluded and utterly pointless index that doesn't correlate with final selling prices in any way. I still feel RM index is Ok.. just shows the mentality of sellers !! (apart from that, pure crap) Quote Link to comment Share on other sites More sharing options...
inflating Posted February 20, 2012 Share Posted February 20, 2012 It will be up. The media will latch on to it in a frenzy, as will EAs. It is all meanginless. Banks are lending less and the housing market appears caught up in spin and hype. The WSJ article says more banks are lending 90% I do hope that even if that is true, the overall lending figure is down - the last thing we need is more QE and credit-fuelled HPI, especially as when the home buyers lose their jobs or find they can't comfortably afford to repay it seems to be Johnny Taxpayer and the beaten up savers rescuing them Quote Link to comment Share on other sites More sharing options...
Venger Posted February 20, 2012 Share Posted February 20, 2012 The 4.1% month-on-month increase took the typical asking price of a home on the market to £233,252, according to the property website Rightmove.co.uk. http://news.sky.com/home/business/article/16173390 It's still gutting. ******* low interest rates, SMI, QE and not enough properties on the market. And no relief on HPC with still too many people feeling sorry for those who bought, instead of being concerned about their own selves. Quote Link to comment Share on other sites More sharing options...
19 year mortgage 8itch Posted February 20, 2012 Share Posted February 20, 2012 http://news.sky.com/home/business/article/16173390 It's still gutting. ******* low interest rates, SMI, QE and not enough properties on the market. And no relief on HPC with still too many people feeling sorry for those who bought, instead of being concerned about their own selves. Surprised its only 4% after seeing the houses come on the market locally. Completely detached from reality. House put on a week ago 20% over too high 2010 price getting multiple viewings already. Unbelievable. Quote Link to comment Share on other sites More sharing options...
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