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rantnrave

Rightmove Asking Prices - 'strongest Ever Start To New Year'

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Utterly predicatable. Wonder how many of the MSM will spin this as sold prices?

• Average asking prices up by 1% (+£2,406), the largest ever January rise in the price of property coming to market

• Year-on-year increase up to 6.3% (+£14,432), the highest since November 2007

• New sellers and their agents are optimistic on price expectations – but is this well-founded?

- Over first two weeks of January 2014, both website traffic and email leads to agents and developers hit records for the time of year, up nearly 20% on 2013

- At 58 properties per branch, lowest stock of property for sale since February 2007• Are more making 2014 the year to move? Number of newly marketed properties rises 4% in the first week of January compared to the same period last year

Download January 2014 HPI

Edited by rantnrave

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read the title as 'strangest ever start to the new year' :) - must get new glasses.

have noticed a tiny edge upwards in asking prices on new properties ( suspect a bit of inflation thinking) but those that were on sale in 2013 or 2012 even in my neck of the woods show a slashing of prices by perhaps 10% - still unrealistic though.

Edited by olliegog

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one of the two people I know who told me they are trying to escape from their house ( bought at peak prices ) told me last night they are borrowing some cash to do their house up as the prices were now back to what they paid for it, the were going to Sell To Rent.

I had a look on the land registry and someone had bought one of their neighbours houses last year ( July ) for a peak 2007 price...every other sale was £40K less.

I personally hope he sells but, as I predicted, you can see the wave of desperate sellers coming....

Edited by TheCountOfNowhere

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Does anyone get the feeling Miles Shipside was 'got to' by the government? I remember last year he was a lot more anti HPI and I thought his comments were as rounded as they could be.

Now he sounds just like an estate agent. I guess when he has banners across his entire site for Help To Buy then one wonders. "Take the 10x market rate advertising money and toe the line Shipside"!!

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Does anyone get the feeling Miles Shipside was 'got to' by the government? I remember last year he was a lot more anti HPI and I thought his comments were as rounded as they could be.

Now he sounds just like an estate agent. I guess when he has banners across his entire site for Help To Buy then one wonders. "Take the 10x market rate advertising money and toe the line Shipside"!!

Invasion of the BTL snatchers...

http://www.youtube.com/watch?v=WFnSxeDfENk

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I've been looking in Sheffield S10 and the surrounding area. Asking prices seem to be up a few % over a few months ago and many houses I've tracked are SSTC. Those which completed went for near asking. At the moment there isn't much of any quality around either. In particular, £300-500k family homes are poor value. Many are in need of a major update and at prices which few families can afford now. When I've looked around, owners typically seem to be near retired teachers or people in basic office jobs, i.e. those who would have no chance of buying such houses now.

The only people I know who have bought in the last few years are:

- Bank of mum and dad (£30k upwards)

- Those who bought in the late 90s/early 2000s and had a lot of equity - tend to have moved sideways price wise however.

For couples buying around here it's quite possible to get a reasonable first home on a joint income given a strong deposit and no debt, but the next step is double the price if you wish to stay in the nearby area. I don't know of any families who have stepped up, and all but two I've known decided to stay put rather than move out of the area. The other two - one is moving further out and one moved to another city for work.

There is extensive BTL here to both students and professionals and rents have gone up 15-20% in the last few years.

Edited by miggy

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Looks like the "The number of days a property is on the market has decreased in the last year" is actually trending upwards since June.

From what I see round here June/July was the end of the bull market

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Looks like the "The number of days a property is on the market has decreased in the last year" is actually trending upwards since June. From what I see round here June/July was the end of the bull market

Could be. The two lows on that chart correspond roughly with the introduction of HtB1 and 2.

It's possible they were expecting more from HtB1 and chose to bring forward the second part to compensate for the fall in activity.

article-2542221-1AD26CFE00000578-876_634x416.jpg

Edited by zugzwang

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one of the two people I know who told me they are trying to escape from their house ( bought at peak prices ) told me last night they are borrowing some cash to do their house up as the prices were now back to what they paid for it, the were going to Sell To Rent.

I had a look on the land registry and someone had bought one of their neighbours houses last year ( July ) for a peak 2007 price...every other sale was £40K less.

I personally hope he sells but, as I predicted, you can see the wave of desperate sellers coming....

I keep popping posts on the Regional House Prices at HPC because I keep stumbling across properties that disappeared from Rightmove last year so I thought they were sold and are now reappearing having gone up £10,000 to £20000 or more from last year.

This one sold in North Bradley in 2010 from new at £163,000 was on last year for £190,000 is now on for £209,000

This one I posted last week is in St Just Penzance , Rightmove have changed the wording (do they look at HPC did they read my previous post) This said last week that it was refurbished in 2007 the original blurb said (been a holiday let since ) was bought in September 2013 for £147,000 but is now on the market for £199,950!

I could just keep on seeing property that has been on last year and either taken off and now reappearing up £10,000 £20,000 + or stayed on and just having £10,000 + added to the price.

I guess given all the hype why not add 10% to 2007 prices or more, this market can only go up, right? :o)

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I keep popping posts on the Regional House Prices at HPC because I keep stumbling across properties that disappeared from Rightmove last year so I thought they were sold and are now reappearing having gone up £10,000 to £20000 or more from last year.

This one sold in North Bradley in 2010 from new at £163,000 was on last year for £190,000 is now on for £209,000

This one I posted last week is in St Just Penzance , Rightmove have changed the wording (do they look at HPC did they read my previous post) This said last week that it was refurbished in 2007 the original blurb said (been a holiday let since ) was bought in September 2013 for £147,000 but is now on the market for £199,950!

I could just keep on seeing property that has been on last year and either taken off and now reappearing up £10,000 £20,000 + or stayed on and just having £10,000 + added to the price.

I guess given all the hype why not add 10% to 2007 prices or more, this market can only go up, right? :o)

No one wanted to buy them at the old price....I doubt anyone will want to buy them at the new price.

All they are doing is giving people hope and trying to spin the plates till the next election. The men in charge are mice.

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This is an early warning that we are totally at risk of an imminent house price Melt up.

There is no normal... The market is either going up... An bull market.... Or it's going down... A bear market...

The LOW in inflation adjusted terms was Q1 2013 almost exactly were we expected it to be (a lot of people forecast 2012)Prices have rallied significantly since then.Inventory is at a seven year low.People are all over right-move something like 20% up on last year..January obviously is a tough month to be selling houses.. The fact that prices are rising at all this month should be setting alarm bells going

You have maybe 8 weeks now until the 'spring bounce' in case you haven't experienced it before as a buyer it feels horrible... Estate agents listing all the new stuff mark it up at this summers prices ...I.e. significantly more than last years prices...

This site provides no end of entertainment for watching people trying to say that up is down and that blue is red.... You accuse the MSM of spin and yet so people are blind to their own spin. Housing markets have so much momentum they take forever to change direction... Years normally.

Clock is ticking...Spring bounce is on the way soon.

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58.Lowest stock per agent since Feb'2007. Time on market slightly down year in year But rising. So what is going on? is this longer chains making a comeback?

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This is an early warning that we are totally at risk of an imminent house price Melt up.

There is no normal... The market is either going up... An bull market.... Or it's going down... A bear market...

The LOW in inflation adjusted terms was Q1 2013 almost exactly were we expected it to be (a lot of people forecast 2012)Prices have rallied significantly since then.Inventory is at a seven year low.People are all over right-move something like 20% up on last year..January obviously is a tough month to be selling houses.. The fact that prices are rising at all this month should be setting alarm bells going

You have maybe 8 weeks now until the 'spring bounce' in case you haven't experienced it before as a buyer it feels horrible... Estate agents listing all the new stuff mark it up at this summers prices ...I.e. significantly more than last years prices...

This site provides no end of entertainment for watching people trying to say that up is down and that blue is red.... You accuse the MSM of spin and yet so people are blind to their own spin. Housing markets have so much momentum they take forever to change direction... Years normally.

Clock is ticking...Spring bounce is on the way soon.

An early warning.

:lol::lol::lol:

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I've been looking in Sheffield S10 and the surrounding area. Asking prices seem to be up a few % over a few months ago and many houses I've tracked are SSTC. Those which completed went for near asking. At the moment there isn't much of any quality around either. In particular, £300-500k family homes are poor value. Many are in need of a major update and at prices which few families can afford now. When I've looked around, owners typically seem to be near retired teachers or people in basic office jobs, i.e. those who would have no chance of buying such houses now.

The only people I know who have bought in the last few years are:

- Bank of mum and dad (£30k upwards)

- Those who bought in the late 90s/early 2000s and had a lot of equity - tend to have moved sideways price wise however.

For couples buying around here it's quite possible to get a reasonable first home on a joint income given a strong deposit and no debt, but the next step is double the price if you wish to stay in the nearby area. I don't know of any families who have stepped up, and all but two I've known decided to stay put rather than move out of the area. The other two - one is moving further out and one moved to another city for work.

There is extensive BTL here to both students and professionals and rents have gone up 15-20% in the last few years.

S10

June 2004 average sale price was £238k (the peak of the run up).

Sep 2013-latest data available-average sale price was £249k.

Rising prices are really a Southern phenomenon in the main.

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S10

June 2004 average sale price was £238k (the peak of the run up).

Sep 2013-latest data available-average sale price was £249k.

Rising prices are really a Southern phenomenon in the main.

I track the local prices very closely and they didn't move much in that period at all (peaked then dropped). There has been a recent change in asking prices at the lower end. At the mid end it's much harder to sell unless the house is really good and well located.

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1390248129[/url]' post='1102452485']

An early warning.

:lol::lol::lol:

You laugh but not a lot on the market right now... And plenty of buyers esp the FTB... In the last few months I've heard of sellers pulling out of sales and gazumping... you think that more price rises won't follow...

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You laugh but not a lot on the market right now... And plenty of buyers esp the FTB... In the last few months I've heard of sellers pulling out of sales and gazumping... you think that more price rises won't follow...

There's no question that prices in London & SE have been on a tear for 12 months or more. Not much evidence of it out in the provinces. City crooks leveraging their undeserved winnings from ZIRP & QE is my explanation, what's yours?

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1390251214[/url]' post='1102452513']

There's no question that prices in London & SE have been on a tear for 12 months or more. Not much evidence of it out in the provinces. City crooks leveraging their undeserved winnings from ZIRP & QE is my explanation, what's yours?

Your totally wrong about 'city crooks'... It's the foreign dollar that's running the prime market... The ripples out from there... Every pound the London to regional arb trade widens the more incentives to relocate to the regions...

Sell London and buy elsewhere?

I have (renting in London) friends talking about buying/securing back home... Out in the regions this year because London is so hard and hot right now and regional prices a value...

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You have maybe 8 weeks now until the 'spring bounce' in case you haven't experienced it before as a buyer it feels horrible... Estate agents listing all the new stuff mark it up at this summers prices ...I.e. significantly more than last years prices...

This site provides no end of entertainment for watching people trying to say that up is down and that blue is red.... You accuse the MSM of spin and yet so people are blind to their own spin. Housing markets have so much momentum they take forever to change direction... Years normally.

Clock is ticking...Spring bounce is on the way soon.

You're got a point about people being blind to their own spin, because banks are not dragging people in to borrow, for the victim status so many buyers have been awarded for years, and even for buyers buying today. When they're the ones pushing up values, paying higher prices. They don't need to get permission from people on this forum, who consider themselves to be the only ones who should set values and decide what people should be doing. Buyers/borrowers are responsible for their own decisions. More responsible seeing so many have amnesia about credit crunch 1.0 (in the modern era).

Housing markets can change overnight, with a trigger. It didn't take forever for initial leg down in 2008-09. Conditions were in place where sellers sold for lower prices, bringing down values for all owners, until Gov market-intervention reflation policies.

Clock is ticking... world liquidity will tighten with as the US taper plays out throughout this year, so enjoy your short lived Spring Bounce from your penthouse.

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1390254650[/url]' post='1102452540']

You're got a point about people being blind to their own spin, because banks are not dragging people in to borrow, for the victim status so many buyers have been awarded for years, and even for buyers buying today. When they're the ones pushing up values, paying higher prices. They don't need to get permission from people on this forum, who consider themselves to be the only ones who should set values and decide what people should be doing. Buyers/borrowers are responsible for their own decisions. More responsible seeing so many have amnesia about credit crunch 1.0 (in the modern era).

Housing markets can change overnight, with a trigger. It didn't take forever for initial leg down in 2008-09. Conditions were in place where sellers sold for lower prices, bringing down values for all owners, until Gov market-intervention reflation policies.

Clock is ticking... world liquidity will tighten with as the US taper plays out throughout this year, so enjoy your short lived Spring Bounce from your penthouse.

I guess I kind of disagree with you that housing markets change overnight there are... There we're many clues last time that foreshadowed the eventual change in direction of the market... Like the near disintergration of the financial system. Early warning signs were failures of SIVs a number of fixed income hedge funds the move down from par value of the CCC grade ABX... The eventual peak was flagged before that by super high prices and then reversal for subprime mortgages... Which then reversed when these actually went bad...

But seriously underwriting standards are still much much tighter than they were back in the day 7 times income anyone? 120% ltv? Not seen anything even close yet...... I am looking at macro conditions and will trade what I see... But we still have a rate rise cycle to complete...

I will derive no pleasure from any spring bounce if it happens. I don't care where prices go too much... I'm just bringing it up because it does happen...annoyingly... Estate agents ...what can you do?

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Your totally wrong about 'city crooks'... It's the foreign dollar that's running the prime market... The ripples out from there... Every pound the London to regional arb trade widens the more incentives to relocate to the regions...

Sell London and buy elsewhere?

I have (renting in London) friends talking about buying/securing back home... Out in the regions this year because London is so hard and hot right now and regional prices a value...

City crooks/Wall St. crooks, what's the difference? It's one big pool of effluent and they all play in it. Bernanke's QE infinity sent the US stock market parabolic last year, naturally a lot of that 'wealth' ran up the Thames like the tide and left a similar stink behind as it passed. But Osborne's bubble is very different from Brown's. London specific. Cash based rather than debt based. Speculation driven rather than owner-occupier driven, and likely to endure only as long as ZIRP and QE are likely to endure. Osborne is the one variable I can't factor. How much he spends this year trying to win the GE could hold the market up into 2015, I'll give you that.

Net-lending.jpg

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