Monday, May 20, 2013

Rightmove

Asking prices hit new highs amid signs confidence is returning to the housing market

There has been a 2.1 per cent month-on-month rise which pushed average asking prices to £249,841 in May, Rightmove has revealed, with new record prices set in London, the South East, and East Anglia. It marks the strongest start to a year for asking prices since 2004, with average prices rising by more than £20,000 so far in 2013.

Posted by happy mondays @ 07:54 AM (3325 views)
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9 thoughts on “Rightmove

  • The property ramping Express has another front pager on house prices today based on the same stats.

    Paste in this link NOW to see a picture of a pink house flying through the air:

    http://www.express.co.uk/news/uk/401004/Cheap-mortgages-fuel-big-rise-in-house-prices

    Now…what’s stopping you rushing out to buy?

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  • Classic stuff, isn’t it? There’s a demand side issue caused by mispricing on the supply side – so the Government (if it can be called that) intervenes to support the supply side, leading to further mispricing and…er…an even worse demand side issue.

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  • mark wadsworth says:

    The comments are almost unanimously bearish, to say the least.

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  • @Dill – spot on, I find this all very interesting as the outcome seems to be quite predictable:

    1, (asking) prices will fall once the interference stops
    2, There will be forever increasing levels of interference to keep the plates spinning.

    I think option 2 will be chosen and the UK will have a Fannie/Freddie setup offering 95% 6x multiples in the near future, this will have the effect fo further price inflation until it that route comes to an end.

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  • @ dill,
    “the Government (if it can be called that)”

    Farage writes in the Torygraph today:

    “Only an administration run by a bunch of college kids, none of whom have ever had a proper job in their lives, could so arrogantly write off their own supporters.” What the administration thinks of voters? ….well, I can’t write what I’m thinking – the webmaster would surely censor it!

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  • Not surprising – business confidence now at a high.

    This cycle will nearly be through, though. Then we can get back to the real world – let the fools have their fun.

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  • Farage – will slavishly follow the tories & labour in the need to keep house prices inflated. In fact even if we slashed taxes and social spending that would actually inflate house prices and rent as more a proportion of earned income would be absorbed into the monopoly that is housing.

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  • happy mondays says:

    It’s a funny old world 🙂

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  • Given that the Mule is writing primarily for the now famous ‘swivel eyed loons’ this makes perfect sense.

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