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Rightmove November -1.6% MoM, +1.6% YoY
Mr_Mumble
Posts: 1,758 Forumite
http://www.rightmove.co.uk/news/house-price-index/november-2009
http://www.uploadlibrary.com/rightmovenews/SeeMoreUK_newsletter/SeeMore_Nov09/Landing_page/UKHPI_Nov.html?utm_source=uknewsletter&utm_medium=email&utm_campaign=Nov09
The "time on market indicator" is at its highest level since February but for London alone the indicator is near yearly lows. Kensington and Chelsea continues to show they're on a different planet (+3.9% Month on Month compared to a next best in London of -1%), perhaps news from Dubai will knock 'em!
http://www.uploadlibrary.com/rightmovenews/SeeMoreUK_newsletter/SeeMore_Nov09/Landing_page/UKHPI_Nov.html?utm_source=uknewsletter&utm_medium=email&utm_campaign=Nov09
Overview
The onset of the winter market brings what we predict will be the first of three monthly falls before asking prices resume their recovery in February of next year. Average national asking prices fell by £3,744 this month as the traditional autumn buoyancy tailed off. The 1.6% decrease compares with falls of 2.9% in November last year and 0.7% in November 2007.
Miles Shipside, commercial director of Rightmove comments: “In all but the most buoyant of markets, home moving comes second to Christmas festivities. While the market has recovered from some dreadful lows, this month’s price fall proves that it does not yet have the strength to buck seasonal trends. We therefore expect three months of asking price falls before a tentative recovery in early spring, likely followed by pre-election jitters”.
The "time on market indicator" is at its highest level since February but for London alone the indicator is near yearly lows. Kensington and Chelsea continues to show they're on a different planet (+3.9% Month on Month compared to a next best in London of -1%), perhaps news from Dubai will knock 'em!
"The state is the great fiction by which everybody seeks to live at the expense of everybody else." -- Frederic Bastiat, 1848.
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Comments
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Queue a load of people saying they were right as they predicted falls over winter.0
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Price trends in the first half of 2010 will thus continue to be dominated by seasonal factors, with a “spring bounce” in prices expected from February as we enter the traditional home-moving season.
Wonder what size the "spring bounce" will be
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Graham_Devon wrote: »Queue a load of people saying they were right as they predicted falls over winter.
It's playing out much as predicted by both sides for winter, gains reducing on lagging indices, leading indices going negative, so there's not much to debate at the moment.
But I note the YoY gains are starting to kick in as expected. :beer:
Which is obviously not good for anyone who delayed purchase or STR-ed in hopes of falls. Up until now, at least they could console themselves with YoY falls, but that won't be the case for much longer.“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
Graham_Devon wrote: »Queue a load of people saying they were right as they predicted falls over winter.
I think you meant cue not queue.A journey of a thousand miles begins with a single step
Savings For Kids 1st Jan 2019 £16,112
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HAMISH_MCTAVISH wrote: »Which is obviously not good for anyone who delayed purchase or STR-ed in hopes of falls. Up until now, at least they could console themselves with YoY falls, but that won't be the case for much longer.
They have also spent thousands on rent in the last 12 months plus moving costs, so I don't think there is any consolation.A journey of a thousand miles begins with a single step
Savings For Kids 1st Jan 2019 £16,112
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Rightmove Asking Prices mean absolutely nothing, we all know that. Except when they're going down of course
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BACKFRMTHEEDGE wrote: »They have also spent thousands on rent in the last 12 months plus moving costs, so I don't think there is any consolation.
my grandparents str to rent in 2004, can you even imagine how much rent they've paid? (and they used to own outright too!)Prefer girls to money0 -
and other than my granddad doing a bit of part time stuff here and there nether of them even have a job!Prefer girls to money0
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Well as this doesn't cater for Northern Ireland i couldn't give a toss.
I rely on the website treesdontgrowtothesky.com which shows that house prices in Ireland are continually falling :j0 -
I rely on the website treesdontgrowtothesky.com which shows that house prices in Ireland are continually falling :j
Ummm, not quite. TDGTTS only deals with asking prices.... It's about as meaningless as the Rightmove index or property bee.
Nationwides house price index on the other hand shows what is happening with sold prices, which in fact have risen by 9% in the last quarter in Northern Ireland.
:beer:“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0
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