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MSE News: Rise in housing market asking prices
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Former_MSE_Natasha
Posts: 672 Forumite
This is the discussion thread for the following MSE News Story:
"The housing market has showed further signs of a spring revival as asking prices rose by 2.6% over the past month, according to figures today ..."
These threads have been merged to avoid duplication. Thanks to HAMISH_MCTAVISH for the original post.
"The housing market has showed further signs of a spring revival as asking prices rose by 2.6% over the past month, according to figures today ..."
Read the full story:
Rise in housing market asking prices
Rise in housing market asking prices
These threads have been merged to avoid duplication. Thanks to HAMISH_MCTAVISH for the original post.
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Comments
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THE housing market has shown more signs of revival as asking prices rose by 2.6 per cent over the past month, according to figures released today.
Property website Rightmove said the average price of a UK property increased to £235,512 between March 7 and April 10 in a marked improvement on the 0.1 per cent lift in the month before.
The number of new properties coming on to the market also rose sharply with buyers enjoying the greatest choice since October last year.
The ditching of stamp duty for first-time buyers of properties under £250,000, announced in last month’s budget, is believed to have boosted the traditional spring housing market price rise.
Other recent figures also showed that first-time buyers are returning to the housing market.
Research from the Council of Mortgage Lenders found that the number of mortgages to first-time buyers rose by 13 per cent in February to 12,600.
The number of loans had collapsed between December and January from 24,800 to 11,200. The total number of mortgages lent was 49 per cent higher than in February last year and worth £5billion, an increase of 67 per cent on 12 months earlier.
Today’s statistics show the average value of a property is now six per cent higher than a year ago. The improvement follows a stumbling at the turn of the year as the cold weather compounded the traditional winter slowdown.
News of the increases comes after the Royal Institution of Chartered Surveyors announced that selling activity in March had soared to its highest level since May 2007.
Property economists are hoping that the price rises coupled with the Bank of England’s decision to leave interest rates at a record low of 0.5 per cent for the 14th month running, means the housing market could be entering a period of sustained growth. But Rightmove warned that over-supply could force prices down later in the year.
Recovery continues.
: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 -
The ditching of stamp duty for first-time buyers of properties under £250,000, announced in last month’s budget, is believed to have boosted the traditional spring housing market price rise.
Thats great so the stamp duty cut is completly neglected in one go.
Hamish please tell me who these buyers are going to be and where from?:exclamatiScams - Shared Equity, Shared Ownership, Newbuy, Firstbuy and Help to Buy.
Save our Savers
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Also from property bee in West London prices are only going down. This rise must be caused by people putting new homes on the market which undoubtly fall in price as no one can offord them.:exclamatiScams - Shared Equity, Shared Ownership, Newbuy, Firstbuy and Help to Buy.
Save our Savers
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Well I can only speak from where I live. Three years ago a house across the road from me sold for £170k, there is an identical house on the market that came up last week and the asking price is £125k.
Stop taking those pills Hamish. It's plain as day nothing is selling, nothing is going up and the market is correcting itself and you are getting spun a yarn. For your sake Hamish don't get burnt.0 -
Is that story taken from the Daily Express? -who famously ran front page headline, "House prices on the rise" , and the next day, "House prices crash"
If you follow the logic of that story then the stamp duty cut has just made homes even more unaffordable for FTBs if they have leapt 2.6%.
Its usual Express rubbish, pay no attention kids.0 -
Las time I looked (a couple of weeks ago), it was still falling asking prices in my town with only 2 properties out of the entire stock of them, increasing their price....by £50 and £1k.We made it! All three boys have graduated, it's been hard work but it shows there is a possibility of a chance of normal (ish) life after a diagnosis (or two) of ASD. It's not been the easiest route but I am so glad I ignored everything and everyone and did my own therapies with them.
Eldests' EDS diagnosis 4.5.10, mine 13.1.11 eekk - now having fun and games as a wheelchair user.0 -
As the great Hamish himself once said when asking prices were falling...
Asking prices are neither here nor there. It's selling prices that count.0 -
Graham_Devon wrote: »
Asking prices are neither here nor there. It's selling prices that count.
Very true, at best it's no more than a leading indicator for sentiment.....
But it makes a bit of a mockery of all the anecdotal observations of falling prices on Rightmove.....;)
And of course, selling prices are rising too.......“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 -
Also from property bee in West London prices are only going down. This rise must be caused by people putting new homes on the market which undoubtly fall in price as no one can offord them.
Really??
Property around my area is up 10-15% over the past year. Lots of new sellers and buyers coming onto the market too, dramatically raising transaction levels.
One of the early criticisms of the recent mini-boom was that it has been based on low transaction levels, and was thus not sustainable. This rise in transaction levels shows that the price rises are here to stay
:T
Never mind - next crash along in 15 years0 -
nollag2006 wrote: »
:T
Never mind - next crash along in 15 years
That's great news.
Let's have another boom and bust where various people and the country as a whole will suffer. Much better than stability.0
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