Sunday, Jul 19, 2009
Rightmove: Asking prices up 0.6% in July
Times: Rise in house prices boosts hopes of resurgence in property market
Property prices rose by nearly £1,500 this month, while the number of sellers jumped by a fifth, boosting hopes that the housing market may be over the worst.
The average asking price this month is £227,864, up from £226,436 in June, figures from Rightmove show. This is the fifth rise in the past six months, prompting Rightmove to say that the market has already bottomed out.
Spokesman Miles Shipside said, "Last winter a few brave buyers correctly called the bottom of the market. In most parts of the country, prices have consistently improved during spring." He predicted house price changes of between zero and +5% this year.
Posted by little professor @ 10:14 PM (1173 views) Add Comment
9 Comments
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1. cyril said...
"Rightmove said that it foresaw the market remaining stable for the rest of the year.... however, it said that if more lenders loosened their lending criteria, prices could rise by a further 5 per cent this year, taking the total annual gain to 12 per cent....Rightmove also conceded that there could be a “double dip”, with asking prices falling by a further 10 per cent unemployment continuing to rise and the number of repossessed properties coming onto the market surging."
So the market could be up, down or stay the same. Very informative.
2. Fallingbuzzard said...
What a load of toss from Miles. Based on feeling not logic although you can't blame him really. Rightmove doesn't want any more agents to go bust or drop them for advertising. So they have to talk the market up. I bet they won't be buying the house price futures though!
3. little professor said...
Annual rate of decline is now just 3.3%, if you believe rightmove's figures
4. mrflibble said...
The more I hear this 'bottom is in' rubbish the more I believe we have a lot further to fall.
Only in the UK can bullsh*t be spun this think.
To suggest we can have a resurgence in property prices in the middle of a recession is just daft.
5. george monsoon said...
bottom schmottom....
The UK is entering the darkest financial crisis it has probably ever seen.. and the VI's still can't stop spewing vomit.
Its laughable... house prices up ... ... Humph!
6. Neil B said...
It's sad to think that some nieve people are going to believe this tripe and buy into a plunging market and tens of thousands of pounds of negative equity within months.
7. house said...
To be very honest, I do not see any sign of recession. People are still spending without any difficulty. Obviously people are earning enough to carry on the lifestyles they are used to. Rightmove are probably right in what they are saying. I have actually experienced in my neck of woods that the asking price is increased and the property then sells. I am sure that my comments may provoke some kind of reaction but I am also surprised to see how resilient the property market is this time compared to the 1990's. I can only assume for the good of the country, the prices may not drop but it should not go up anymore for the next 10 years.
8. mander said...
Common sellers bring your properties on to the market because recession is over. I am not saying anything about a shortage or supply and demand.
9. greenshootsandleaves said...
house @ 6 wrote: 'I have actually experienced in my neck of woods that the asking price is increased and the property then sells (...) I am sure that my comments may provoke some kind of reaction'
I don't know what your neck of the woods is, Mr/Mrs/Ms House, but you're absolutely right!!! I've got my eye on a couple of properties in my neck of the woods (possibly the same as yours, who knows?). I'm just waiting for the asking price to go up so I can put in an offer.