Asking prices for UK homes rise in unison for 1st time in 14 years

[TheCountOfNowhere]

38 minutes ago, Pop321 said:

It’s mixed near us but certainly slowing for overpriced stuff.

 

I did a mid month Property Lion Index check and most regions have fallen slightly in 2 weeks.  Listing volumes down around 1%, not a big drop off given the time of year.

Seeing plenty stuff "added today" having gone SSTC 6 months ago, each time they put the price up  

[Pop321]

21 minutes ago, Twenty Something said:

Is this like the 'froth' of the last however many years? According to your observations, things have been 'slowing' pretty much non stop for the past 18 months or so. Given the continued increase in prices that have undeniably occurred, where is the slowing? I guess if you keep posting that things are slowing you will be right at some point in the future. As per @MonsieurCopperCrutchabove, how many times are you people going to keep being wrong before you assess your world view?

 

 

Ebb and flows. Winter 2020was good for us…so glad my lad didn’t jump in during the summer 2020  

Sorry for suggesting people do research, exercise some caution and try buy well at the moment.😉

[MonsieurCopperCrutch]

2 hours ago, gruffydd said:

Good God the stamp duty holiday ended all of... 19 days ago! 

I thought it had began to be wound down early Summer? 

[Twenty Something]

48 minutes ago, Pop321 said:

Ebb and flows. Winter 2020was good for us…so glad my lad didn’t jump in during the summer 2020  

Sorry for suggesting people do research, exercise some caution and try buy well at the moment.😉

But as we've covered previously, that is common sense rather than insightful, and I cannot imagine anyone not doing research and trying to get the best deal they possibly can, however stupid you think the man on the street is. That isn't what I am commenting on however, which I suspect you understand, but won't of course address. I am commenting on your ability (and you are far from alone) to repeatedly state that you are observing things happening that are clearly not, and then when pulled up on it (again), are unable to even consider that you have been wrong. I get it, it's the internet and nobody is going to lose face, but I suspect you are seeing what you want to see, as opposed to what is actually happening. Confirmation bias as it were. Things haven't been 'slowing'. The market hasn't been 'frothy'. Prices have been accelerating upwards at pace both anecdotally and factually, yet again and again you are of course seeing the opposite and have anecdotes about how your neighbour paid £200,000 more than you for a comparable property. You can only cry wolf so many times before people who exist outside of this echo chamber are just going to laugh.

[fellow]

Don't forget the Rightmove figures use initial asking prices only and do not include any price drops since the initial listing price.

 

I am now seeing a lot more price drops on Rightmove (I was hardly seeing any in the Summer) but these are not included in the figures so the official data is showing asking prices increasing when they may actually be falling overall.

[Zzzzzzzzzzzzzzzzzzzzzzzzzz]

58 minutes ago, MonsieurCopperCrutch said:

I thought it had began to be wound down early Summer? 

The ending of the winding down was 30 Sept. 

[Pop321]

1 hour ago, Twenty Something said:

But as we've covered previously, that is common sense rather than insightful, and I cannot imagine anyone not doing research and trying to get the best deal they possibly can, however stupid you think the man on the street is. That isn't what I am commenting on however, which I suspect you understand, but won't of course address. I am commenting on your ability (and you are far from alone) to repeatedly state that you are observing things happening that are clearly not, and then when pulled up on it (again), are unable to even consider that you have been wrong. I get it, it's the internet and nobody is going to lose face, but I suspect you are seeing what you want to see, as opposed to what is actually happening. Confirmation bias as it were. Things haven't been 'slowing'. The market hasn't been 'frothy'. Prices have been accelerating upwards at pace both anecdotally and factually, yet again and again you are of course seeing the opposite and have anecdotes about how your neighbour paid £200,000 more than you for a comparable property. You can only cry wolf so many times before people who exist outside of this echo chamber are just going to laugh.

I would love to share the personal specific details of the purchases made with street names…..but that not going to happen.

Thanks for your interest. Onwards and upwards. 

[MonsieurCopperCrutch]

1 hour ago, gruffydd said:

The ending of the winding down was 30 Sept. 

But for sales to take advantage of the cut I’m sure that said sales will have to have been well advanced well before 30th September.
 

I fully understand your frustration though. I get it. What has happened to housing in the western countries is criminal. But you cannot let your frustrations cloud your judgement on reality.  

[moonriver]

7 hours ago, Pop321 said:

Sorry for suggesting people do research, exercise some caution and try buy well at the moment.😉

Don't be sorry, as I found your post very helpfull.

[moonriver]

7 hours ago, TheCountOfNowhere said:

I did a mid month Property Lion Index check and most regions have fallen slightly in 2 weeks.  Listing volumes down around 1%, not a big drop off given the time of year.

Seeing plenty stuff "added today" having gone SSTC 6 months ago, each time they put the price up  

Thanks for the Property Lion update.  Interesting, as this autumn is so difficult to predict.

During the the past week, we too have noticed an increase in properties that were SSTC last spring/summer, coming back to market.

And most here too had increased the price.

We viewed one (with a view to only making a low offer) and the agent was downbeat, saying how the summer buying rush was over now.

When I said I noted how many failed sales (including this one) there were, he said it was a combination of sellers not being able to find a property last summer, and buyers struggling to find mortgages.

[Zzzzzzzzzzzzzzzzzzzzzzzzzz]

5 hours ago, MonsieurCopperCrutch said:

But for sales to take advantage of the cut I’m sure that said sales will have to have been well advanced well before 30th September.
 

I fully understand your frustration though. I get it. What has happened to housing in the western countries is criminal. But you cannot let your frustrations cloud your judgement on reality.  

I'm a financial analyst - I couldn't give a fig one way or the other. The sales numbers for Sept will have been agreed earlier. 

[PeanutButter]

Back on market after sstc earlier this year... 😆

https://www.rightmove.co.uk/properties/53707581#/?channel=RES_BUY

 

Price Change History

03/09/2021	Price changed from £665,000 to £775,000
24/09/2020	Price changed from £640,000 to £665,000
25/05/2019	Price changed from £650,000 to £640,000
22/04/2018	Initial entry found: £650,000

[Debt Slaves]

12 minutes ago, PeanutButter said:

Back on market after sstc earlier this year... 😆

https://www.rightmove.co.uk/properties/53707581#/?channel=RES_BUY

 

Price Change History

03/09/2021	Price changed from £665,000 to £775,000
24/09/2020	Price changed from £640,000 to £665,000
25/05/2019	Price changed from £650,000 to £640,000
22/04/2018	Initial entry found: £650,000

Couldn't sell in 2019 for £640,000, still unsold in 2021 and adds £135,000.  Bet he's thanking the government and the printing presses. What ya gonna dooo? when the mania RUNS wild on YOU!

[househunter123]

Hi all. My area in the East Midlands, 2 beds are now going for what 3 beds were right up to March 2020 which is now around the 190-200k mark for a 2 bed semi in a less desirable area

A sold house in April '21 sold for 200k, back on the market last week for 215k and sold within a couple of days. 

It's still hot here, no sign whatsoever of slowing down.