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LondonBound

Rightmove Dec -2.6% m/m

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Some good analysis here:

http://www.propertyindustryeye.com/uplift-in-new-stock-of-nearly-5-is-reported-by-rightmove/

Uplift in new stock of nearly 5% is reported by Rightmove

More property looks to have come to the market over the last few weeks than this time a year ago, with new listings up nearly 5%.

This morning Rightmove published its latest house price index between November 5 and December 2, based on 77,731 new asking prices.

For the same period a year ago Rightmove at first reported having measured 80,695 new asking prices but it subsequently restated last year’s figures to 74,100 new asking prices – meaning there is an uplift in volume of 4.9% year on year.

But Rightmove is due to restate all its figures again next month, and so the uplift is likely to be adjusted.

Today’s latest Rightmove report shows average new asking prices at £302,865, down 2.6% on a month ago and 0.8% down on this time last year. The monthly fall, equivalent to an average of £8,178, is the largest in five years.

However, annual asking price inflation is still up – at 1.2%.

The monthly fall of 2.6% is the steepest this year, and more than the average fall of 2.1% at this time of year over the last seven years.

Rightmove is also forecasting that new asking prices will rise only 1% next year.

It said that while shortages of properties in some areas will push up asking prices, this will be offset by other new sellers having to trim their initial price aspirations.

Director Miles Shipside said: “Increasingly stretched buyer affordability, exacerbated as intended by tighter lending criteria and increased Stamp Duty for second-home owners, is taking its toll on upwards price pressure.

“It is aided by a slowdown in the higher-end markets, with the influence of a readjusting London being a weighty factor on the national averages.”

He predicted that most of next year’s price hotspots will be in the north.

As mentioned, a further restatement of all numbers is expected by Rightmove next month which, for the first time, will also be specifically including Scotland in its monthly reports.

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I caught the BBC's summary of the newspaper front pages last night. Despite the news about snowfall and Brexit dominating the headlines, the paper reviewers addressed this headline first.

Their insight? We always see drops in December. A small drop in asking prices and the Government's stamp duty exemption make this a great time for FTBs. Expect more mad gainz soon!

We'll see.

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Just now, Sperm Donor said:

I know it's a rubbish index but with the current lack of a black swan anything that damages HPI sentiment is happy days. I'll have an extra pint tonight to celebrate.

Indeed. Gotta love the Metro headline's omission that this is asking prices...

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12 minutes ago, Fairyland said:

'Rightmove Dec -2.6% m/m'

Can't wait for the decimal to shift one place left. 

Rightmove -0.26% m/m? :P

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4 minutes ago, frederico said:

It's not a rubbish index , it is what it says on the tin.

Yes, but an index that uses initial asking price is open to abuse by estate agents. Perish the thought that they might list at a high price and reduce almost immediately.

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32 minutes ago, Dorkins said:

Rightmove -0.26% m/m? :P

LOL . Ohh.. got me there. My brain is under the snow. Rightmove will be left move. Perhaps wrong move.

Edited by Fairyland

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1 hour ago, Fairyland said:

'Rightmove Dec -2.6% m/m'

Can't wait for the decimal to shift one place left. 

you mean one place right to make it -26%

Edited by suresh786

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2 hours ago, LondonBound said:

Central -6%m/m

Top end London -11% m/m

Rightmove-House-Price-Index-11-December-

Is Mile End considered as Central or not? sorry if its stupid question to ask

Edited by suresh786
grammer

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  • 407 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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