Rightmove March +0.9%

[Turnbull2000]

http://www.channel4.com/news/articles/busi...ncrease/3032677

House prices rose for the second month in a row during March as new sellers continued to be unrealistic about how much their homes are worth, figures have shown.

Edited March 16, 2009 by Turnbull2000

[mattyboy1973]

Asking prices rose for the second month in a row during March as new sellers continued to be unrealistic about how much their homes are worth, figures have shown.

Edited March 16, 2009 by mattyboy1973

[Yorkshire Lad]

But the group warned that the increase reflected a resistance among sellers to accept how far prices had fallen, rather than a rebound in the market.

Asking prices are a poles apart from actual selling prices. Sellers cant, or wont accept the realities of the failed state that they are living in.

Also, it seems that estate agents are once again shooting themselves in the foot by pricing them higher to attract properties onto their books, even though they have even less chance of selling them:

http://www.citywire.co.uk/personal/-/news/....aspx?ID=332742

However, Rightmove said the rise was partly down to the lack of properties available, adding it may reflect the fact that estate agents are having to compete for the limited number of good houses coming to market by agreeing to price them at unrealistically high levels.

Edited March 16, 2009 by Yorkshire Lad

[Kazuya]

Asking prices are a poles apart from actual selling prices. Sellers cant, or wont accept the realities of the failed state that they are living in.

They are going to have to succumb to the reality of whats happening in the housing market i.e a crash sooner or later.

Its called "capitulation"

[Bruce Banner]

http://www.thisislondon.co.uk/standard/art...rise/article.do

[BufferBear Bitcoin Bull]

http://www.lse.co.uk/MacroEconomicNews.asp...t_y/y-rightmove

Macroeconomic News

Monday, 16th March 2009

UK March house asking prices down 9 pct y/y-Rightmove

16-MAR-2009 00:16

LONDON, March 16 (Reuters) - Asking prices for houses in England and Wales were 9.0 percent lower than a year ago this month, slightly less than February's record 9.1 percent annual drop, property website Rightmove said on Monday.

Average asking prices rose by 0.9 percent in March, less than the usual increase for the time of year, and new listings were 57 percent lower than last year at 79,000, Rightmove said.

'Traditional spring impetus (is) limited as ... lending remains restricted as banks are only now facing up to declaration of toxic debt,' the survey said.

Rightmove said there seemed to be buyer interest in properties priced at around 25 percent below peak levels, and that sellers who initially overpriced their homes risked heavier losses later.

'Rightmove advised sellers in March last year to 'get smart' and price sensibly rather than chase prices down in a deteriorating market. Those that acted smartly may well have sold at half the discount that those who over-priced are now facing,' said the website's commercial director, Miles Shipside.

The average property asking price in March was 218,081 pounds ($301,700), compared with 216,163 in February.

February data from mortgage lenders Halifax and Nationwide showed that house prices have around fallen 20 percent from their peak in late 2007.

Asking prices for London property appear to be holding up better than elsewhere in England, with prices just 1.8 percent lower than a year ago and 2.9 percent up from February's level at 399,867 pounds.

But according to other surveys, London selling prices have fallen in line with those in the rest of the country.

(Reporting by David Milliken, editing by Mike Peacock)

((Reuters Messaging: david.milliken.reuters.com@reuters.net; david.milliken@reuters.com; +44 20 7542 5109)

[Bloo Loo]

Hang on.

I can feel myself getting ready to give it the biggun.

This is stage 2 for HPC gang.

Anger.

I bet there will be millions of reasons why this can't be true. BUT.......it is.

Houses are going up. QE was the answer.

Even Alan Sugars Amsprop company is buying property developments again.

That's the answer as far as I'm concerned. I'd trust his judgement more than anyone on here's.

fill your boots

[deeplyblue]

I bet there will be millions of reasons why this can't be true. BUT.......it is.

Houses are going up. QE was the answer.

You know, I'm almost beginning to believe the troll label. It's all so predictable.

Alas, we won't have the official RM document for another hour, but there is a summary on the Channel 4 website (probably breaking an embargo!)

House prices rose for the second month in a row during March as new sellers continued to be unrealistic about how much their homes are worth, figures have shown.

The average asking price in England and Wales increased by 0.9%, or nearly £2,000, during the four weeks to March 7, following a 1.2% jump during the previous month, according to property website Rightmove.

But the group warned that the increase reflected a resistance among sellers to accept how far prices had fallen, rather than a rebound in the market.

It added that it could also be due to estate agents agreeing to market properties at unrealistically high prices in a bid to win new business at a time when only a limited number of homes were being put up for sale.

Rightmove said there was evidence of "buyer appetite" for homes that cost around 25% less than at their peak, but warned that this discount appeared to be putting many people off marketing their home, limiting the traditional spring surge in properties being put up for sale.

Only 78,901 homes were put on the market during the four weeks, 57% fewer than during the same period of 2008 and the lowest level for March since 2003.

Channel 4 news

RM explicitly contradict your statement, if you meant that what people are paying for houses is going up. As you must know. Hence my query as to whether this post is indeed trolling.

db

[deeplyblue]

Anything you don't like to hear is labeled trolling.

How about all your posts seem like trolling to me?

I can't believe people actually believe what they post on this site. It's just want they would LIKE to see happen. When it doesn't go to plan the dummy comes out of the pram. I'm sure the hope is that somebody in power will browse the site and be influenced into making a statement to cause panic to the public.

This weekend, I spent some time with an important business person in Zurich. He made me smile when he told me a little story. He advertises in one of the big national newspapers and noticed they kept running doom and gloom economy stories. He rang the editor and said he would pull out unless they stopped writing rubbish about everything going bust and started printing the good things that are happening in the economy. Quite rightly he told him that there was no reason to pay good money to be in a paper telling people not to spend. He wants good news so people get their hand in their pocket. As I said last week, the company I work for is creating at least 30 new jobs in a depressed area. Why isn't that in the news?

If you think houses will drop 90% or you will be able to get a new car at a massive discount then don't let me put you off. Go and buy today.

You'll be living ooop north or in Wales though and your J reg Rover will blow up on the way to Asda.

The people with power in this respect are (i) the banks/government (if anyone can tell the difference) and (ii) the people who produce the figures - which do have an effect on the market. I am not vain enough to suppose that the people at RightMove, the Halifax or Nationwide read what I say or are in any way influenced by it.

I note your point that business people are calling papers and telling them what the news is, but the idea that the advertisers are the real masters of any newspaper is not a new one. The only wonder is, given what you saying, that anyone produces any bad news at all - at least not unless it's celebrity gossip.

I don't think houses will drop 90% and (as I grow a little weary of insisting) I don't want them to - I think that would be disastrous for the UK economy. 30%/35% would start putting them in a sensible zone on the earnings:house price ratios. That sounds sustainable to me.

You will notice - if you look at what RM says - that their message is "Lower your prices and sell, or don't and don't." This means that there is still an hpc in progress, and prices are not going to rise in the near future. OTOH, RM clearly doesn't think that you need to take it much further down than 25% to get a solid deal - at the moment.

Exactly what the report says we shall have to wait and see - it has not yet, I think, appeared on the RM site. (My apologies to those I maligned about using embargoed material, the release on the February one was 01.00, not 06.00)

I am looking to buy shortly - if we can find the right property for our rather specialised needs where we and the seller can agree on a price. I don't expect to be paying 90% off peak - even here in the North - but I'm not going to be rushing in with a 2% off asking price offer, in the hope that I won't be gazumped, on any property. No sensible price, no deal. We'll wait for anther house to come along if we have to.

We will take the risks on the car and the choice of supermarket.

db

[Guest DissipatedYouthIsValuable]

Hang on.

I can feel myself getting ready to give it the biggun.

This is stage 2 for HPC gang.

Anger.

I bet there will be millions of reasons why this can't be true. BUT.......it is.

Houses are going up. QE was the answer.

Even Alan Sugars Amsprop company is buying property developments again.

That's the answer as far as I'm concerned. I'd trust his judgement more than anyone on here's.

You're more stupid than you look, aren't you, Sibley?

[deeplyblue]

You're more stupid than you look, aren't you, Sibley?

Or been up much much too late. Classic Sibbers from another thread

I can't understand why you're trying to peddle doom and gloom when so many people are having the time of their lives in this recession.

db

[scott666]

One in every 56 UK business will fail in 2009, according to a report by accountants BDO Story Hayward.

The report estimates that the number of business failures will increase by 59% to 36,000. This compares with 22,600, or one in 87, that failed in 2008.

Construction and real estate firms will bear the brunt of the failures, along with manufacturing.

http://news.bbc.co.uk/1/hi/business/7944907.stm

Spin this Sibley.

[PotNoodle]

Houses are going up.

QE was the answer.

1. Asking prices have risen on Rightmove. Selling prices have not risen.

2. QE money is not yet available to house purchasers.

We want facts, not theories.

[red]

Hang on.

I can feel myself getting ready to give it the biggun.

This is stage 2 for HPC gang.

Anger.

I bet there will be millions of reasons why this can't be true. BUT.......it is.

Houses are going up. QE was the answer.

Even Alan Sugars Amsprop company is buying property developments again.

That's the answer as far as I'm concerned. I'd trust his judgement more than anyone on here's.

My car's gone up in price, too. I bought it for 10 grand 5 years ago. I have just increased the asking price to 15 grand. Nobody's bought it yet, though. Odd, that.

[red]

Anything you don't like to hear is labeled trolling.

How about all your posts seem like trolling to me?

I can't believe people actually believe what they post on this site. It's just want they would LIKE to see happen. When it doesn't go to plan the dummy comes out of the pram. I'm sure the hope is that somebody in power will browse the site and be influenced into making a statement to cause panic to the public.

This weekend, I spent some time with an important business person in Zurich. He made me smile when he told me a little story. He advertises in one of the big national newspapers and noticed they kept running doom and gloom economy stories. He rang the editor and said he would pull out unless they stopped writing rubbish about everything going bust and started printing the good things that are happening in the economy. Quite rightly he told him that there was no reason to pay good money to be in a paper telling people not to spend. He wants good news so people get their hand in their pocket. As I said last week, the company I work for is creating at least 30 new jobs in a depressed area. Why isn't that in the news?

If you think houses will drop 90% or you will be able to get a new car at a massive discount then don't let me put you off. Go and buy today.

You'll be living ooop north or in Wales though and your J reg Rover will blow up on the way to Asda.

How about you recognise the difference between asking prices and actual prices?

Why don't YOU go out and buy today, Sibbers? If you're so convinced prices have bottomed out and are going back up?

[Marc Beswick]

the simple FACTS are that unregulated/unsecured lending by the banks enabled the house prices to rise to the levels they reached and those days are over, i think we all agree on that?....where are the mortgages coming from to buy these houses, I see some of the trolls trying to encourage people to start buying again..........with what?

[Once in a lifetime]

http://www.channel4.com/news/articles/busi...ncrease/3032677

http://uk.reuters.com/article/domesticNews...16?rpc=401&

Asking prices for houses in England and Wales were 9.0 percent lower than a year ago this month,

slightly less than February's record 9.1 percent annual drop, property website Rightmove said on Monday.

Average asking prices rose by 0.9 percent in March, less than the usual increase for the time of year,

and new listings were 57 percent lower than last year at 79,000, Rightmove said.

[spivT]

http://www.channel4.com/news/articles/busi...ncrease/3032677

sheesh, did krusty herself pen that article, someone should tell c4 that not differntiating between house prices and asking prices is extremely misleading. also, first time i think i've seen anyone link to a channel 4 'news' item. They are no better than a gutter tabloid with headlines like this.

[grey shark]

Miles Shipside, commercial director at Rightmove, said: "Some sellers are still pricing wishfully high, though it is encouraging that elements of the market have adapted relatively quickly to find a new price floor at a discount of around 25% from peak."

Good to see Shipside still talking his own market down .

Expect to see after Easter many deluded sellers dropping their asking prices.

[shedfish]

Houses are going up. QE was the answer.

desperate

[Wannabe]

Hang on.

I can feel myself getting ready to give it the biggun.

This is stage 2 for HPC gang.

Anger.

I bet there will be millions of reasons why this can't be true. BUT.......it is.

Houses are going up. QE was the answer.

Even Alan Sugars Amsprop company is buying property developments again.

That's the answer as far as I'm concerned. I'd trust his judgement more than anyone on here's.

Thanks Sibley...!!! Just pebble dashed my screen after reading that nonsense.

.

You really do need to wake up to reality and stop peddling this SH1T.

[HPCatlast.]

Hang on.

I can feel myself getting ready to give it the biggun.

This is stage 2 for HPC gang.

Anger.

I bet there will be millions of reasons why this can't be true. BUT.......it is.

Houses are going up. QE was the answer.

Even Alan Sugars Amsprop company is buying property developments again.

That's the answer as far as I'm concerned. I'd trust his judgement more than anyone on here's.

Sibber's, you makes me day, always makes I smile.

Fact is, me and me boss (wife) spent the weekend looking at new houses (considering wether to buy again!!) and we have discovered some very, very tempting offers in this county.

NO WAY is new homes going up in price were we bin to, infact we bin offered a very spacious 3/4 bed terrace (with garage) for less than some paid for a 2 bed flat (no garage) on the same site (under £160K). Very tempted, but tryin to hang on till end of the year.

But, I still looks forward to your contributions Sibber's, don't leave us, we is all entitled to an oppinion, just that you be currently in a minority, but one day you will be correct (about 2012/3 I recon)

RiG

[repetitive bleats]

Even Alan Sugars Amsprop company is buying property developments again.

That's the answer as far as I'm concerned. I'd trust his judgement more than anyone on here's.

Then why don't you drop him a line and see if he has any of those Emailer machines left.

You could rent one if his many empty commercial properties off him and fill it with them.

I'm sure they'd sell like hot cakes - especially if you you bundled each machine with a

snazzy Woolworths share certificate. He probably has a few kicking about after he bought

4% of the failed store at the end of last year.

I can see why he'd be your hero.

[time 2 raise interest rates]

So the EA says asking prices are up, but the Halifax say they have crashed £40,000 this year,

the Natinwide say £38,000, and the LandReg say 15%. And mortgages are at a 30 year low.

[bungy]

Rightmove said there seemed to be buyer interest in properties priced at around 25 percent below peak levels, and that sellers who initially overpriced their homes risked heavier losses later.

This has happenned in my area. Prices peaked at £200,000 on my road. A few houses went on the market at 180 then 170 and finally at 150 they sold. And they sold rapidly after hitting 150k.

One house went on the market on the Friday at 150k and was sold on the monday.