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Rightmove March +1.6% Mom +6.8% Yoy

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"• Average asking prices of property coming to market hit new record high of £255,962 – "

Worst time in history to buy.

"- only flood-hit South East and South West lag behind the spring seller rush""

There you have it....they rush to sell has started :lol: Good luck...who's buying ?

POP.

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I have to say, a lot of family houses over 500K locally with hardly any STC now (many of those were jacked another 50K+ in last few months - makes you sad when they sold for 250 in 2009 ...).

One scenario here is that we just stagnate at this level - people not selling below what it is worth. Nobody outside London with a salary high enough to pay 300+ for a house - even with all the assistance.

But then there are a lot of 95%s around now, if the lenders start pushing to 100% it could keep plates spinning for a while longer.

Having been burned predicting a collapse in '08 I just can't call this now. Still feels like there is a lot of ways to keep this going (MIDAS, 30yr loans, stamp duty lowering).

HPCers hoping for next economic event (China?) to have some impact - but I suspect that will just cause IR to remain lower longer.

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I have to say, a lot of family houses over 500K locally with hardly any STC now (many of those were jacked another 50K+ in last few months - makes you sad when they sold for 250 in 2009 ...).

One scenario here is that we just stagnate at this level - people not selling below what it is worth. Nobody outside London with a salary high enough to pay 300+ for a house - even with all the assistance.

But then there are a lot of 95%s around now, if the lenders start pushing to 100% it could keep plates spinning for a while longer.

Having been burned predicting a collapse in '08 I just can't call this now. Still feels like there is a lot of ways to keep this going (MIDAS, 30yr loans, stamp duty lowering).

HPCers hoping for next economic event (China?) to have some impact - but I suspect that will just cause IR to remain lower longer.

But you were right in '08! House prices did collapse in NI, and fell sharply in the North and Midlands. Were it not for 'Super Keynes' in No. 11 prices would have corrected in London and the South East too. The lunatic should reveal his next market defying subsidy in this week's budget.

PS There's already an economic event underway in China. It's transmitting itself into the global economy via higher IRs as the emergent markets attempt to hold up their currencies against dollar flight. Credit conditions are tightening all over Asia and around the world.

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I have to say, a lot of family houses over 500K locally with hardly any STC now (many of those were jacked another 50K+ in last few months - makes you sad when they sold for 250 in 2009 ...).

One scenario here is that we just stagnate at this level - people not selling below what it is worth. Nobody outside London with a salary high enough to pay 300+ for a house - even with all the assistance.

But then there are a lot of 95%s around now, if the lenders start pushing to 100% it could keep plates spinning for a while longer.

Having been burned predicting a collapse in '08 I just can't call this now. Still feels like there is a lot of ways to keep this going (MIDAS, 30yr loans, stamp duty lowering).

HPCers hoping for next economic event (China?) to have some impact - but I suspect that will just cause IR to remain lower longer.

Agree, I don't bother predicting any more. I'm just building up my cash pile. HPC or not, I won't think about buying until I see a livable 2/3 house for sale at, no more than 4 times plus 10% my wages. Fat chance of that in the SE at the moment.

Edited by renting til I die

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But you were right in '08! House prices did collapse in NI, and fell sharply in the North and Midlands. Were it not for 'Super Keynes' in No. 11 prices would have corrected in London and the South East too. The lunatic should reveal his next market defying subsidy in this week's budget.

PS There's already an economic event underway in China. It's transmitting itself into the global economy via higher IRs as the emergent markets attempt to hold up their currencies against dollar flight. Credit conditions are tightening all over Asia and around the world.

I don't think Osborne has as much to do with it as he would like. Major Cities around the world have all held their prices well during the last crash. Its easy to point to 50% plus falls in Detroit but how much did prices fall in New York? Not so much and they came back quickly. There seems to be a worldwide real estate bubble in prime areas. The biggest bubbles appear to be to in China, where most of this money is coming from!

Edited by renting til I die

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I don't think Osborne has as much to do with it as he would like. Major Cities around the world have all held their prices well during the last crash. Its easy to point to 50% plus falls in Detroit but how much did prices fall in New York? Not so much and they came back quickly. There seems to be a worldwide real estate bubble in prime areas. The biggest bubbles appear to be to in China, where most of this money is coming from!

Won't you think of the buyers paying such high prices, pushing up HPI month after month, year after year. And encouraging sellers to come to market with ever higher asking prices.

Always carry them on your shoulders forever; your superiors, who just wanted a home, no matter what the high asking price, given bankers must have dragged them into the banks and forced them to borrow so much debt. Or that they had no option but to believe in forever HPI.

At least more houses coming to market, even if many of them will just be testing the water and not prepared to "sell for less than it's worth."

Country gets moving

-recovery in property supply to help meet buyer demand as more sellers are enticed to market

Lap it up... record price this, set to increase more that... never ending buyer demand....

Miles Shipside, Rightmove director and housing market analyst comments: "Spring is in the air and the country is finally on the move. With prices on the up and set to increase more, there is a greater sense of urgency among buyers, and as an increasing number of them are

existing home-owners, the supply of property for sale is starting to increase to meet growing buyer demand. The mass property market is starting to unlock after years of being handcuffed by fragile consumer confidence and a lack of low-deposit mortgages. The result is a new national asking price record, driven by a mortgage market that allows pent-up demand to be released combined with a welcome economic recovery."

The new record asking price beats the previous peak of £253,658 set in July 2013 by 0.9% (+£2,304). While London's price surge continues

-total of 114,996 new properties advertised in the last four weeks, up 3.4% on last month and up 8.7% on last year.................woop woop.

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I have to say, a lot of family houses over 500K locally with hardly any STC now (many of those were jacked another 50K+ in last few months - makes you sad when they sold for 250 in 2009 ...).

One scenario here is that we just stagnate at this level - people not selling below what it is worth. Nobody outside London with a salary high enough to pay 300+ for a house - even with all the assistance.

But then there are a lot of 95%s around now, if the lenders start pushing to 100% it could keep plates spinning for a while longer.

Having been burned predicting a collapse in '08 I just can't call this now. Still feels like there is a lot of ways to keep this going (MIDAS, 30yr loans, stamp duty lowering).

HPCers hoping for next economic event (China?) to have some impact - but I suspect that will just cause IR to remain lower longer.

MIRAS, I think you mean. Midas was a king who, when he touched things, they turned into gold.

Signed,

Inspector Pedant of the Grammar Police.

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