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Rightmove 10.3%

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House price inflation in England and Wales eased to 10.3 percent in July from 13.2 percent last month, property Web site Rightmove said on Monday.

The figures suggest Britain's housing market is starting to come off the boil following five interest rate hikes since last August.

Rightmove said figures not adjusted for seasonal factors showed prices rising just 0.3 percent on the month, taking the average asking price to 240,001 pounds.

Photo

"This is further evidence that the mini boom is coming to an end," said Miles Shipside, Rightmove's commercial director.

http://uk.reuters.com/article/UKNews1/idUK...23?rpc=401&

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http://uk.reuters.com/article/UKNews1/idUK...23?rpc=401&

"Depending on local supply and demand, sellers are going to have to duck and weave with their asking prices, especially if there is another rise in interest rates," Shipside said.

http://wordnet.princeton.edu/perl/webwn?s=duck

duck

"S: (v) duck (to move (the head or body) quickly downwards or away) "Before he could duck, another stone struck him""

Weave

'S: (v) weave, wind, thread, meander, wander (to move or cause to move in a sinuous, spiral, or circular course) "the river winds through the hills"; "the path meanders through the vineyards"; "sometimes, the gout wanders through the entire body"'

Edited by Ash4781

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http://uk.reuters.com/article/UKNews1/idUK...23?rpc=401&

http://wordnet.princeton.edu/perl/webwn?s=duck

duck

"S: (v) duck (to move (the head or body) quickly downwards or away) "Before he could duck, another stone struck him""

Weave

'S: (v) weave, wind, thread, meander, wander (to move or cause to move in a sinuous, spiral, or circular course) "the river winds through the hills"; "the path meanders through the vineyards"; "sometimes, the gout wanders through the entire body"'

Why not DROP.

a decline in amount, degree, quality, value, etc.: a drop in prices.

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Interesting. Unfortunately that YoY figure will go up next month, as last August reported a 1.6% drop. I doubt we'll get YoY negative from Rightmove until April '08 when a 3.6% monthly rise falls out of the maths.

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Can someone explain this to me

"Rightmove said figures not adjusted for seasonal factors showed prices rising just 0.3 percent on the month, taking the average asking price to 240,001 pounds."

Surely this is the buying season so no adjustment means this is more bearish than it appears?

Thanks,

Phoney

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Can someone explain this to me

"Rightmove said figures not adjusted for seasonal factors showed prices rising just 0.3 percent on the month, taking the average asking price to 240,001 pounds."

Surely this is the buying season so no adjustment means this is more bearish than it appears?

Thanks,

Phoney

As far as I can tell, it's not like the summer is simply the buying season. I've heard it said that there's quite a lot of activity in the spring, a quietening down during the holiday season, then more activity again in the later part of summer and into autumn (when folks want to be 'moved in by Xmas').

It'd be interesting to see a graph of sales in a 'typical' year to see if this is true.

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http://uk.reuters.com/article/UKNews1/idUK...23?rpc=401&

"Depending on local supply and demand, sellers are going to have to duck and weave with their asking prices, especially if there is another rise in interest rates," Shipside said.
The survey covered
asking prices
for properties put on sale between June 10 and July 14.

An VI "expert" gives their opinion of the state of the market based on seller's asking prices in a market where exectations have been high ever since the beginning of Brown's miracle years.

RM's report bears no resemblance to the current state of the market.

Areas around the UK are beginning to repoprt MoM and QoQ falls. Here are just a few samples from the North, West and Wales.

http://www.pendletoday.co.uk/nelson-news?articleid=3048204

House prices
fall by 10%
House prices in Pendle have dropped, new report reveals
HOUSE buyers in Pendle could snap up a bargain after it was revealed property prices fell by almost 10% in the first quarter of the year.

http://property.timesonline.co.uk/tol/life...icle2103122.ece

From The Sunday TimesJuly 22, 2007
The Welsh wobble
Prices are falling in Wales

http://www.thisisbath.co.uk/displayNode.js...;pNodeId=163047

The latest Halifax House Price Index says the average house in the city sold for £263,948 in the 12 months to June - compared to £270,015 in the previous year.

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Rather a dramatic fall for an index which has over-stated rises recently by as much as the Home index has under stated things at the other extreme. A rare bit of good news on the indicies front.

Edited by crashmonitor

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http://uk.reuters.com/article/UKNews1/idUK...23?rpc=401&
"Depending on local supply and demand, sellers are going to have to duck and weave with their asking prices, especially if there is another rise in interest rates," Shipside said.
The survey covered
asking prices
for properties put on sale between June 10 and July 14.

An VI "expert" gives their opinion of the state of the market based on seller's asking prices in a market where exectations have been high ever since the beginning of Brown's miracle years.

RM's report bears no resemblance to the current state of the market.

Areas around the UK are beginning to repoprt MoM and QoQ falls. Here are just a few samples from the North, West and Wales.

http://www.pendletoday.co.uk/nelson-news?articleid=3048204

House prices
fall by 10%
House prices in Pendle have dropped, new report reveals
HOUSE buyers in Pendle could snap up a bargain after it was revealed property prices fell by almost 10% in the first quarter of the year.

http://property.timesonline.co.uk/tol/life...icle2103122.ece

From The Sunday TimesJuly 22, 2007
The Welsh wobble
Prices are falling in Wales

http://www.thisisbath.co.uk/displayNode.js...;pNodeId=163047

The latest Halifax House Price Index says the average house in the city sold for £263,948 in the 12 months to June - compared to £270,015 in the previous year.

RB, even RM thinks prices are falling in our area. Asking prices in Midlands down 2% in a month :)

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Eased from 13.2 to 10.3 yoy inflation!! Its starting to slow but thats still lunacy. Buy a house make 20k plus in one year!!! What the f*ck is going on

The simple average is the problem. In reality London property has probably increased by 20% and the rest of UK (except NI) has only increased marginally, with some areas and some types of properties actually falling. However the average is upwards.

I reall wish we could get the median price and exclude the top and bottom 10% (i.e. a 90:10 review).

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