Tuesday, April 12, 2011

+0.4% MoM -0.9% YoY

Asking Price Index April 2011

The spring bounce continues in the UK home market. Seasonal optimism has lifted home prices a further 0.4%, although they remain 0.9% less than in April 2010. Supply of properties remains strong (9.5% more new properties appeared on the market in March 2011 than in March 2010) and continues to put downward pressure on asking prices. Hence, vendors continue to resort to price-cutting: 29% more properties were reduced in price in March 2011 than compared to March 2010.

Posted by dill @ 12:36 PM (3104 views)
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4 thoughts on “+0.4% MoM -0.9% YoY

  • sibley's b'stard child says:

    Another pointless index; mind you, strangely HPC-esque commentary at the end:

    ‘One might conclude that the purpose of current UK economic policy is to benefit the heavily indebted: government, banks, business and mortgagees. Meanwhile, savers and those with capital tied up in property pay a heavy price.’

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  • ASKING PRICES. Spring bounce in delusion only

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  • mark wadsworth says:

    To be fair, the YoY figure looks farily reliable to me, the MoM is clearly a bit dodgy.

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  • Must say that every time I see these graphs I get thoroughly PO’d that the Labour government managed to actually increase house prices after their 2009 trough. They should have allowed the long-overdue correction to happen (maybe stopping it from a sudden crash) but went for vote-catching HPI instead. Hence all these silly shared ownership schemes and VIs advising (grand)parents to release the equity in their house to ‘help’ their (grand)children, as well as thousands more people taking on such massive mortgages that they would be sunk if the base rate rose to 1%.

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