Monday, Jan 18, 2010
Rightmove says asking prices notched up
Channel 4 News: House prices register 1.2% rise
"House prices jumped by 1.2% during the first week of January as confident new sellers hiked their asking prices, research has shown. The steep rise in asking prices during the early days of 2010 helped the average cost of a home on the market in England and Wales increase by 0.4% during the five weeks to January 9 to £222,261. Property website Rightmove said the housing market had got off to a "buoyant start" this year, as record numbers of people logged on to its website to view property, with volumes up 26% compared with the same period of 2009." The disparity between asking prices and sale prices has been discussed on the blog before but it seems that the taste for debt may still be strong - at leats as long as interest rates are kept so low.
16 Comments
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1. will said...
Are house prices heading for a giant double top?
2. hpwatcher said...
I think the government will definitely try before the next general election..........
3. mark wadsworth said...
@ Will, nope. Round my way they are still drfiting slowly but surely, taking years to sell, being advertised as sold but the coming back on the market months later with £20,000 knocked off (which is a small percentage as round my way they are ridiculously expensive). The house that we used to rent has been empty for a year with a "Sold subject to contract" sign outside it.
4. Alessandro-lambeth said...
the current scenario is so unreal. Very few property are coming for sale in my area and actually have crazy asking prices (sometimes even 40% more than 6 months ago) these obviously stay unsold but with interest rates so low for old mortgages people can afford to have properties off the market. I hope QE will end soon as I fear a second deep recession coming soon after the elections when we have to come back to reality.
5. fjcruiser said...
"rising asking price"???? coming from Rightmove ???? Give us a shout when it sells at the asking price will you ?
6. phdinbubbles said...
Weren't wrongmove's asking prices down for the last couple of months? Whore's draws spring to mind.
"Rightmove said the housing market had got off to a "buoyant start" this year, as record numbers of people logged on to its website to view property, with volumes up 26% compared with the same period of 2009."
Snowed in with nothing else to do?
7. Neilb said...
Record numbers of people logging onto a website is not a measure of sales its a measure of window shoppers.
8. holyroller said...
@Neilb:
I guess estate agents will soon be counting the amount of people who look at the properties listed in their windows next and use that as an indication of demand increasing.
9. Thenewdoctorwho said...
@7 Neilb. I wonder if Estate Agents would ever put out a report saying "number of people standing outside in the rain, looking in through the window up 26%"?
Headline in today's Western Mail / Echo "House Prices fall in first weeks of 2010".
10. mr_smith said...
well I find it all a bit depressing. I've given up waiting and I'm looking for a house at the moment. I can tell you there seems to be a lot of people looking and a lot of properties selling fast. i.e. property bee only shows a few properties that have been on the market for ages and they are mostly pretty undesirable. lots of properties coming on the market and when you ring up they have gone.
it certainly doesn't feel like a buyers market. for all the theories about lack of supply not having an affect on prices there certainly seems to be a lack of supply for what ever reason which means the popential for doing a deal is certainly reduced given that lots of poepl are viewing properties. there is of course the occassional heart warming repossession but not enough of them.
11. jack c said...
mr_smith
The area(s) you are looking to buy? - if it's not to intrusive a question.
12. mark wadsworth said...
Mr Smith! Don't lose faith. Just buy Mrs Smith something nice every month or two to keep her happy/quiet*
* Delete as appropriate.
13. hpwatcher said...
well I find it all a bit depressing. I've given up waiting and I'm looking for a house at the moment. I can tell you there seems to be a lot of people looking and a lot of properties selling fast. i.e. property bee only shows a few properties that have been on the market for ages and they are mostly pretty undesirable. lots of properties coming on the market and when you ring up they have gone.
it certainly doesn't feel like a buyers market. for all the theories about lack of supply not having an affect on prices there certainly seems to be a lack of supply for what ever reason which means the popential for doing a deal is certainly reduced given that lots of poepl are viewing properties. there is of course the occassional heart warming repossession but not enough of them.
Sadly, we are in the middle of a debt fuelled boom, staged entirely for the benefit of the mindless UK masses. The idea is to put the arch incompetent back into number 10, for another 5 years. Nothing is going to happen until after the general election, then I expect things to start very interesting.
By the way, a nice walk round central London today revealed a great number of empty shops. So, I'm not entirely convinced about the ''recovery''.
14. Archiejc said...
Property in S Kent certainly isn't rising, although everyone seems to think it is. Have been watching for about 4 months and asking prices are falling, steadily. We're out looking for a home (more to watch and wait) and the estate agents admit that our only competition is coming from investors. It's all investment buying, even down here on the South Coast, but you can sense the investors are losing interest.
15. Chris said...
We sell commercial property and lately a number of large factories (we are selling because the companies in them have gone bust) are being bought by the big house builders. They are taking advantage of possible building land, which is half the price it used to be! Yes while house prices fell by 15 to 18 percent, building land fell by 50% because builders weren't building and therefore weren't buying land either! Brown field sites are the preferred choice for developers over green field sites as planning tends to be easier. The indications are that new residential property will be available on these sites by mid 2011 to early 2012.
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