House Price Crash forum: Rightmove Asking Price Index Out Tomorrow (Mon) - House Price Crash forum

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Rightmove Asking Price Index Out Tomorrow (Mon) Hard to call Rate Topic: -----

#61 User is offline   snugasabug 

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Posted 21 February 2012 - 05:40 PM

I have another theory about this ridiculous jump in asking prices.
We're coming up for 5 years since peak prices.
How many people bought at peak using liar loans, self cert and interest only mortgages. Lots will have had 5 year deals so now are facing remortgaging without their previous access to easy money and a nice dose of negative equity to go with it.
For many it will be a last ditch attempt to pass the debt to somebody else before the bank takes their house off them.

#62 User is online   satch 

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Posted 21 February 2012 - 06:00 PM

'Joy for Richmond Home Owners as prices soar by 16% in one month.'

So they will be 200% more expensive by the end of the year. Buy now or miss out.
Osborne says; “Printing money is the last resort of desperate governments when all other policies have failed.”

George Osborne December 2008; “Savers and pensioners are the forgotten victims … They are innocent bystanders and it’s simply not good enough for the Government to walk on by."

In his 1997 Budget speech, Gordon Brown said, "I will not allow house prices to get out of control and put at risk the sustainability of the future". He went on to say that he did not want a return to "instability, speculation and negative equity" of the 1980's and 1990's.

#63 User is offline   Unsafe As Houses 

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Posted 21 February 2012 - 06:04 PM

View PostPent Up, on 21 February 2012 - 02:31 PM, said:

The increased interest is probably due to the stamp duty holiday ending. Agents see some slight interest so value slightly higher. I don't think many vendors ring up an agent and tell them the price to put it on at. They just go with what the 'property experts' tell them. So I suppose you could use it to gauge agent sentiment but even then it's quite misleading without a seasonal adjustment.


Yes, I agree with all of that - Agent + seller sentiment with no seasonal adjustment of data to take into consideration.

Seller sentiment will have some bearing - everyone's a 'property expert' nowadays :P

This post has been edited by Unsafe As Houses: 21 February 2012 - 06:09 PM

#64 User is offline   mrpleasant 

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Posted 21 February 2012 - 07:22 PM

Just checked my 'barometer' postcode in the South East on Rightmove and... two decent price drops today and two sold STCs going back to Available. Obviously the 'good news' hasn't reached there just yet.

#65 User is offline   rantnrave 

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Posted 22 February 2012 - 08:52 AM

View Postsnugasabug, on 21 February 2012 - 05:40 PM, said:

I have another theory about this ridiculous jump in asking prices.
We're coming up for 5 years since peak prices.
How many people bought at peak using liar loans, self cert and interest only mortgages. Lots will have had 5 year deals so now are facing remortgaging without their previous access to easy money and a nice dose of negative equity to go with it.
For many it will be a last ditch attempt to pass the debt to somebody else before the bank takes their house off them.

Good insight for a first post!
2012 Predictions - made January 1st 2012
  • Inflation to drop sharply and to a level that makes pay rises and savings account rates seem half decent
  • BTL to be revealed as the next financial disaster in the making as potential tenants buy lower priced houses
  • Progress to be made toward the market bottoming out from 2015, so more falls but not as seen in 08-09

#66 User is offline   snugasabug 

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Posted 22 February 2012 - 01:11 PM

First time poster, long time lurked ;-)
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