Realistbear Posted March 1, 2010 Share Posted March 1, 2010 http://www.bloomberg.com/apps/news?pid=20601102&sid=a0ovfoBmarjA U.K. February Home Prices Rise Most Since 2007, Hometrack Says Share Business ExchangeTwitterFacebook| Email | Print | A A A By Zijing Wu March 1 (Bloomberg) -- House prices in England and Wales rose in February at their fastest pace since the financial crisis began as a shortage of properties for sale persisted, Hometrack Ltd. said. The average cost of a home gained 0.3 percent, the most since June 2007, to 157,600 pounds ($241,000), the London-based research group said in a statement today. Prices rose 0.4 percent from a year earlier, the first annual increase since March 2008. Hometrack said the increase reflected a lack of supply rather than a balanced recovery. While recent gains were encouraging sellers to seek higher prices, growth in sales agreed last month slumped to a third of its eight-year average. The genral public (sheeple) will not look too deeply into what is behind the illusion of further house price rises in the face of worsening recession but it may have been enough for them to see that Brown is the man for the job and that he ought to be getting on with it as he shoves aside the opposition. I was annoyed with the possibility of 5 more years of political thuggery but on reflection justice demans he is the man in office when the Piper comes knocking again. Quote Link to comment Share on other sites More sharing options...
Realistbear Posted March 1, 2010 Author Share Posted March 1, 2010 (edited) http://www.bloomberg.com/apps/news?pid=20601102&sid=asHzUsZ3qlZc March 1 (Bloomberg) -- Luxury-home prices in central London jumped 17 percent in February from a year earlier, the biggest gain in almost two years, as more buyers competed for a dwindling number of properties, Knight Frank LLP said. 17% MOM increase in London may have more to do with the Sterling crash? Its frenzy time out there again, that is for sure. Edited March 1, 2010 by Realistbear Quote Link to comment Share on other sites More sharing options...
lets get it right Posted March 1, 2010 Share Posted March 1, 2010 I find myself imagining the following surreal situation ... let's go forward 2 years. March 1st - 2012 Hometrack said today that house prices rose faster than ever before - up 43% in February 2012. A spokesman cautioned that not too much should be read into the astounding figure as the data is based on only one transaction. Yes, just one property changed hands in February. Quote Link to comment Share on other sites More sharing options...
dances with sheeple Posted March 1, 2010 Share Posted March 1, 2010 The good (or bad?) news is, that whoever wins the election, and they are both about spin and lies, the UK will be getting a large dose of medicine, administered on a wooden spoon right to the back of the tonsils by a very pissed off Nanny (think "Misery"). One way or another, the sheeple, and all of us are in for a very bumpy few years? Quote Link to comment Share on other sites More sharing options...
geoffk Posted March 1, 2010 Share Posted March 1, 2010 Looks like the south east is bucking the trend and you are all paying a HIGH PRICE for living down there.Meanwhile here in the sunny northwest we continue to have a market that is doing what a market should be in these times...every month i am tracking falls in prices with my area Just for the last 6 months at -6% officially.i really hope you people down south dont lose faith.. as if the rises were in my area i would be so bloody angry it wopuld not be funny..Some of my houses in my search are celebrating there third birthday on the maket this month...i send a card to the estate agent via right move just to make them happy.. Quote Link to comment Share on other sites More sharing options...
interestrateripoff Posted March 1, 2010 Share Posted March 1, 2010 House prices create wealth..... Quote Link to comment Share on other sites More sharing options...
tomandlu Posted March 1, 2010 Share Posted March 1, 2010 Looks like the south east is bucking the trend and you are all paying a HIGH PRICE for living down there.Meanwhile here in the sunny northwest we continue to have a market that is doing what a market should be in these times...every month i am tracking falls in prices with my area Just for the last 6 months at -6% officially.i really hope you people down south dont lose faith.. as if the rises were in my area i would be so bloody angry it wopuld not be funny..Some of my houses in my search are celebrating there third birthday on the maket this month...i send a card to the estate agent via right move just to make them happy.. Indeed - I suspect that a foreign land-grab is in progress in the prime areas. That, plus low transactions is pushing this ever outwards into the less desirable areas of London... FFS... Quote Link to comment Share on other sites More sharing options...
OnlyMe Posted March 1, 2010 Share Posted March 1, 2010 Looks like the south east is bucking the trend and you are all paying a HIGH PRICE for living down there.Meanwhile here in the sunny northwest we continue to have a market that is doing what a market should be in these times...every month i am tracking falls in prices with my area Just for the last 6 months at -6% officially.i really hope you people down south dont lose faith.. as if the rises were in my area i would be so bloody angry it wopuld not be funny..Some of my houses in my search are celebrating there third birthday on the maket this month...i send a card to the estate agent via right move just to make them happy.. The people down south are going pay for their high prices with their offshored employment prospects. Quote Link to comment Share on other sites More sharing options...
headrow Posted March 1, 2010 Share Posted March 1, 2010 Looks like the south east is bucking the trend and you are all paying a HIGH PRICE for living down there.Meanwhile here in the sunny northwest we continue to have a market that is doing what a market should be in these times...every month i am tracking falls in prices with my area Just for the last 6 months at -6% officially.i really hope you people down south dont lose faith.. as if the rises were in my area i would be so bloody angry it wopuld not be funny..Some of my houses in my search are celebrating there third birthday on the maket this month...i send a card to the estate agent via right move just to make them happy.. Same here in East Yorkshire. Loads of reductions in the local paper this week , some with a good 10% reduction. Lots of property available to rent too , thus removing the chance of other people renting their house out instead of selling it. I'd say the 4 bed detacheds are dropping by 1k a month. Quote Link to comment Share on other sites More sharing options...
Timm Posted March 1, 2010 Share Posted March 1, 2010 The average cost of a home gained 0.3 percent, the most since June 2007, to 157,600 pounds ($241,000), the London-based research group said in a statement today. Prices rose 0.4 percent from a year earlier, the first annual increase since March 2008. The bulls will be going mental over this one... Quote Link to comment Share on other sites More sharing options...
iron_chic Posted March 1, 2010 Share Posted March 1, 2010 Same here in East Yorkshire. Loads of reductions in the local paper this week , some with a good 10% reduction. Lots of property available to rent too , thus removing the chance of other people renting their house out instead of selling it. I'd say the 4 bed detacheds are dropping by 1k a month. maybe cause half of east riding will be under water in the next 50 yrs Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.