Right Move.....the Recovery Is Here!

[moonriver]

And the ramping carries on, over at Bloomberg.

The Rightmove spokesman appearing on Bloomberg tv just gave the usual reason for the increase in asking prices as,

"there is a shortage of supply underpinning the market."

Bloomberg ticker now saying "asking prices for UK homes rise, as confidence improves, Rightmove says".

[the flying pig]

More like, what the F*** is going on at Rightmove.

Last month East Anglian asking prices allegedly fell 8.3% according to Rightmove. This month we're asked to believe they're up 8.4%.

You couldn't make this stuff up - yet Rightmove do.

well, i do half believe that sep east anglia prices are down 0.6% from july, what they of course did not do is get there via an 8.3% fall in august followed by an almost exactly equal 8.4% rise in september.

or maybe they did.

RM is based on non mix adjusted asking prices. it is meaningless.

[THE BALD MAN]

Lets be serious here for a moment.

Are Rightmove any worse than you lot on here?

I remember about a year ago a big thread going something like this...

' Ladies and Gentlemen the crash is here'

Do you remember it?

Loads of people giving it the biggun.....

' Oh yes I think 70% off peak is fair now'

Need I go on?

I'm asking you now seriously.

Do you honestly think there has or will be a HPC in the near future? Say next 5 years?

One year or more has passed since you all posted 'It's here'.

Can you buy any house you wanted at 40%+ off?

Reality.

From where I'm sitting house prices have maybe dropped 10% from 2007 peak.

Better than average properties haven't dropped anything and in fact asking prices are up on 2007 prices.

House prices are rising.

Mortgage approvals are rising.

Banks lending.

Who's the fools?

Please answer me seriously.

Do you honestly believe you are going to see 40% or more come off houses in the next 5 years?

I believe you are really a bear in disguise posting to make all bulls look stupid. We are still in a recession. We have massive public debt which is difficult to finance. There will be spending cuts and tax rises. The pound is weakening and interest rates may have to rise. So with all this house prices will not continue to decline?

[SwampDonkey]

Yep, if you remove East Anglia from the equation and average the remaining 9 regions the average = -0.6% asking price fall for September.

Is that right. I'm from East Anglia so not good news for me :-(

[Alfie Moon]

Is that right. I'm from East Anglia so not good news for me :-(

How does the RM 8.4% rise tally with your anecdotal experience in East Anglia? Looking at Land Registry data are they selling many? As noted by flying pig, a fall over 8.5% in August and a rise of 8.4% in East Anglia for September makes a mockery of the RM stats.

[non frog]

I'm 99% sure you are wrong on that last point and the rightmove survey includes flats.

...

Well anyone can be wrong, but I am 100% certain the average property price asking/getting/made-up/whatever has not gone from 160 odd thousand to over 220 grand yesterday and it is not the entire front page story of every newspaper in the world. It would be on the TV, radio and every internet page there is. There must be a logical explanation why the figures are so different and I put forward my theory that the figures given by the poster were for houses and the normal property index includes flats. The phrased posted was "homes" so yes margin for error, but no other explanation that I can see??????

[non frog]

http://www.rightmove.co.uk/news/house-pric.../september-2009

HOUSE

Sorry I am right.

[awaytogo]

I believe you are really a bear in disguise posting to make all bulls look stupid. We are still in a recession. We have massive public debt which is difficult to finance. There will be spending cuts and tax rises. The pound is weakening and interest rates may have to rise. So with all this house prices will not continue to decline?

You forgot to include falling income BALD MAN.

[Ash4781]

http://www.bloomberg.com/apps/news?pid=206...id=aOp1dlynxT3g

Home price jumped a MASSIVE 0.6 % V a 2.2% fall last month.

What Planet are they on?

Mike

"“Confidence is up, stock is down and the number of people searching is high,†Miles Shipside, commercial director at Rightmove, said in the statement. "

Stock down - Isn't that bad news for Rightmove ?

Or is it the searches they need ?

[Ash4781]

More like, what the F*** is going on at Rightmove.

Last month East Anglian asking prices allegedly fell 8.3% according to Rightmove. This month we're asked to believe they're up 8.4%.

You couldn't make this stuff up - yet Rightmove do.

Reads like moving on low volumes

[Prof]

I stay on this site as I can't stand to see you lot all patting each other on the back talking shite.

Eh ?

[Coolfonz]

I'd like house prices to fall, as im in cash. But i dont know what they'll do.

I'm only really interested in London, prices have come down in a few areas, some more than others but I wouldn't call it a `crash`. London is sooooo rich as well. You just have to visit NY or Barca or even Munich and Vienna to remember how fackin' rich London is guv.

On the other hand people aren't in work, or don't have as much of it, and if you don't have a decent sized deposit you aren't going far on the credit front. So it's not a kind of boom time either.

There is definitely f all on the market though. And here is a point:

I think some estate agents are gaining market share in the downturn by over-valuing properties to gain a sales list. I see one particular agent in my area with say 20 properties under £500k and the others with 2 or 3. It makes sense for EAs, especially when the supply line is so tight. Very interesting - the parasite tw@ts. It is much easier for an EA to corner its local market when supply is limited after all.

I could quite easily see things just staying like this for a long time, even if, for example, you still had falls, maybe only 1-2pc/yr for a few years. Things would kind of stay the same, less volume, only small price falls - a bit like 2003-04 in some areas.

On the other hand we could get another economic aftershock and all bets are off.

[waitingandsaving]

How does the RM 8.4% rise tally with your anecdotal experience in East Anglia? Looking at Land Registry data are they selling many? As noted by flying pig, a fall over 8.5% in August and a rise of 8.4% in East Anglia for September makes a mockery of the RM stats.

I'm in Norfolk too, Home.Co.Uk stats for Norwich sales volumes are way down - and looking at my own postcode, the sales of flats have pretty much disappeared.

Anecdotally however, looking at RightMove and keeping track of properties within a mile of me, I've seen the number on RM roughly halve in the last year or so, but recently a lot have gone to "sold" - whether they'll reappear as "reavailable" or not remains to be seen. The properties that are going to sold are larger properties in nicer areas - if sales are down overall, and RM stats aren't mix ajusted, then just a couple of bigger properties selling would account for the mysterious increase in prices in the area...

I also have a friend in Kent, who a couple of months ago sold her house in 3 days, at full asking price - and the sale went through with no hitches - it was a starter home property, in a popular area, and there was a lot of interest in it (it went to sealed bids between 2 potential buyers).

Sibley - you've made some fair comments here, and I respect you for putting your reasons forth, and not just baiting people - you even conceed that a year ago, it looked possible to you that there would be a price crash!

I don't wish for financial hardship on anyone - I think a lot of us here wanted things to happen sooner, so the bump wouldn't be as hard as it will be now.

If this is the worst financial disaster since the great depression, then it can't just be over in 18 months with no real major pain - there's more to come, and that will change a lot of things - maybe even house prices!

[threetimesdead]

You know I live in SE.

I post about what I see and it's not bad round here.

I stay on this site as I can't stand to see you lot all patting each other on the back talking shite.

You need a reality check. You're wishing bad times on a lot of hardworking people not only greedy BTL yuppie landlords.

Not all but some of you need to just get that black cloud from over your head and do a dfays hard graft. Get some dough and buy a house. You'll be happier for it.

A lot of hardworking people will have to work even harder as they had worked very little with their brain going into debt

Another big lot of hardworking people will in the next 6-18 months releaved from any hard work altogether except for that of looking for new work, in vain

[threetimesdead]

I'd like house prices to fall, as im in cash. But i dont know what they'll do.

I'm only really interested in London, prices have come down in a few areas, some more than others but I wouldn't call it a `crash`. London is sooooo rich as well. You just have to visit NY or Barca or even Munich and Vienna to remember how fackin' rich London is guv.

On the other hand people aren't in work, or don't have as much of it, and if you don't have a decent sized deposit you aren't going far on the credit front. So it's not a kind of boom time either.

There is definitely f all on the market though. And here is a point:

I think some estate agents are gaining market share in the downturn by over-valuing properties to gain a sales list. I see one particular agent in my area with say 20 properties under £500k and the others with 2 or 3. It makes sense for EAs, especially when the supply line is so tight. Very interesting - the parasite tw@ts. It is much easier for an EA to corner its local market when supply is limited after all.

I could quite easily see things just staying like this for a long time, even if, for example, you still had falls, maybe only 1-2pc/yr for a few years. Things would kind of stay the same, less volume, only small price falls - a bit like 2003-04 in some areas.

On the other hand we could get another economic aftershock and all bets are off.

Rising unemployment

spending cuts

time-bomb of pending corporate re-financing deals

[munners]

You know I live in SE.

I post about what I see and it's not bad round here.

I stay on this site as I can't stand to see you lot all patting each other on the back talking shite.

You need a reality check. You're wishing bad times on a lot of hardworking people not only greedy BTL yuppie landlords.

Not all but some of you need to just get that black cloud from over your head and do a dfays hard graft. Get some dough and buy a house. You'll be happier for it.

As you are from the SE I totally understand your point of view and I see what you see, although my views are different.

Surrey has not been affected.

[Darxide]

You need a reality check. You're wishing bad times on a lot of hardworking people not only greedy BTL yuppie landlords.

I see, and your not wishing hard times on FTB'ers like myself? Would it make you happy to see an entire generation left behind, with no hope of ever owning their own home?

I work damn hard, I have since I left school, and there is not a hope in hell that I could buy a house at todays prices.

I'm not worried though, you'd have to be blind not to see that we're in the biggest bull trap in history.

[Dubai]

I'm not buying that.

If you are working you can buy. OK maybe not alone. You might need a girlfriend/boyfriend or mate to come in with you for 1st place. That's what 99% of people do.

I didn't have many friends who could afford their own place alone. It's a normal step when you get married etc.

Since when did it take two income earners to afford a first home? And when did that apply to 99% of FTB's? Do you have a date, or even a year?

[Tonkers]

Getting married mate. It's been going on for years.

You know same in Dubai. Your mum and Dad arrange you to marry your cousin. That sort of thing.

Sibbers! I've missed you! I have a large dowry, have you got any mates?

[waitingandsaving]

Getting married mate. It's been going on for years.

You know same in Dubai. Your mum and Dad arrange you to marry your cousin. That sort of thing.

Yep, people have been getting married for years. No - joint mortgages didn't used to be the norm.

People used to get married and then have babies. The wife/mother would stay at home and look after them. Mortgages used to be 3 x joint or 2.5 x sole income. If the woman went out to work, it was generally for "pin" money. Nowadays both parties have to work because of the demand on people to buy crap.

It's still possible to live what is now considered an old fashioned life style, you just have to choose to live differently, and to not buy endless stuff. A family I know lives on the earnings of 25 hours per week. (She's a professional, he's a stay at home Dad - they don't drive a flash car, and don't take expensive holidays).

Disclaimer: There's nothing wrong with women going to work, and both parties being professionals etc etc...

[tricksters]

I

I didn't have many friends....................

I think most people had already guessed that, Sibbers.

[Darxide]

I'm sure there are places where you live for £100k or less. That's a 1st time buy. The problem you have is if you keep listening to people on here you have been led to believe you will pick up a 4 bed detatched for that money. You won't and when you get real about what is a 1st time buy you will be on your way to owning your own home.

Oh I'm very real about what a first time buy is, trouble is your figure of £100K or less is not real, at least where I live.

My sister bought here in 2003 for £49k (small 3 bed terrace), now here we are 6 years later, just after a 'crash', and the house next door to her is on for £149k. I don't know about you, but my wages have not tripled in the last 6 years.

[Ash4781]

I'm not buying that.

If you are working you can buy. OK maybe not alone. You might need a girlfriend/boyfriend or mate to come in with you for 1st place. That's what 99% of people do.

Why not rent ?

Buying with the girlfriend asking for trouble! 2 bed