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Academagictrix Say House Prices Still Rising Due To Pent Up Demand


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http://www.bloomberg.com/news/2011-03-11/u-k-house-prices-rise-0-3-on-pent-up-demand-acadametrics-says.html

U.K. House Prices Rise 0.3% as Pent-Up Demand Offsets Mortgage Restraints
.K. house prices rose in February as “pent-up demand” supported values and countered mortgage- lending constraints, research company Acadametrics Ltd. and LSL Property Services Plc said.
The average price of a home in England and Wales rose 0.3 percent from January to 222,456 pounds ($357,300), the groups said in a report in London today. From a year earlier, values fell 0.5 percent, the first annual decline since October 2009.../
The number of transactions rose about 5 percent to 41,200 in February, Acadametrics said.
That’s the second-weakest February since 1995,
when Land Registry data began, and is about 61 percent of the average monthly sales transactions over the last 16 years.

Pure rollox, of course.

Edited by Realistbear
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The housing market is now so FUBAR that it feels like we have a paper housing market running alongside the real one goosing up the prices.

The alternative is we have a country full of fools paying over the odds, best not to speak of that though as it tends to upset people.

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“For January, we reported that four regions were recording price falls on both a 3 monthly and annual basis. In February, there were seven regions where this was the case – the North, North West, Yorkshire and Humberside, East and West Midlands, East Anglia and Wales. Only Greater London, the South East and the South West are now showing annual price increases. There is a sense here of a gathering momentum around a falling annual index; however fluctuations around zero % are likely to become the norm for most of the regions as the effect of strong growth recorded in early 2010 drops out of the figures. Any further prognosis must be on the downside."

:rolleyes:

Over the last year, we have seen prices increase by 5% in Greater London with the average property now costing £385,386. At this level the current price comfortably exceeds the highest price experienced during the previous property boom in 2007/08 of £375,857, which was recorded in February 2008, just prior to the slide in London house prices from March 2008 to April 2009.

:blink:

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