Monday, Nov 16, 2009

Three months of price falls expected. Only Three??!

Right Move: Asking Prices fall 1.6% m.o.m.

Three months of price falls expected as new sellers drop asking prices by £3,744 (-1.6%).
Low stock and improvement in mortgage availability fail to buck seasonal price-fall trend.
No rush to beat stamp duty deadline as lenders’ high deposit requirements make the incentive almost irrelevant

Posted by c'mon correction @ 06:28 PM (1180 views)
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1. David Brewer said...

Yes, only 3 months of decline expected, at least for now.

Last year, asking prices rose 1.0% in October, and fell 2.9% in November. This year, they were up 2% in October and fell 1.6% in November. So the trend is running about 1% higher than last year. Last year there were three months of falls - November, December, and January - and these falls were all more than 1%. So there will probably be three months of falls this year too.

From February, asking prices pick up as the Spring sale season starts.

If this indicator is to be used to assess house price trends, then some formula for seasonal adjustment is needed. Sure, these are never perfect, but they are better than basing conclusions on what are primarily seasonal variations.

Monday, November 16, 2009 07:04PM Report Comment

2. nomad said...

Maybe the 2010 Spring Bounce will be under way before the 2009 version has run its course.

Monday, November 16, 2009 07:28PM Report Comment

3. Cheekie Charlie said...

This can't be true it isn't reported on the BBC!

Monday, November 16, 2009 07:44PM Report Comment

4. Alfie said...

I dont know how anyone can read any kind of prediction from Rightmove, they didnt predict the crash, they havent got a clue of what is around the corner. They are just pulling figures out of their pockets, the right pocket that is, because the left one is full of money, and thats the one they are protecting.

I dont know what next year is going to bring, but if you look at the real figures and the situation Britain is in, prices will fall, its a matter of when.

Monday, November 16, 2009 08:50PM Report Comment

5. mystie010 said...

Does anyone know the dates of the Nationwide and Halifax announcements?

Tuesday, November 17, 2009 10:13AM Report Comment

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