Rightmove Up 0.6% September 2009

chucky

Only Rightmove for September...

The website reveals today that average asking prices are now just 1.5 per cent lower than a year ago, at £223,996, after jumping 0.6 per cent in the month to September 12.

Many of those buying are cash-rich investors and do not have a home that they need to sell in order to buy. The high demand — which has led to bidding wars and gazumping, in a frenzy that one Rightmove-registered agent has described as “awesome” — has prompted many sellers to demand more money for their homes.

Rightmove’s survey of asking prices reveals that all is not equal across the country. Asking prices remain substantially lower than a year ago in the North, North West, Yorkshire, East and West Midlands, Wales and South West. In all these regions, asking prices are now lower than a month ago, despite reputedly improved sentiment.

http://www.timesonline.co.uk/tol/money/property_and_mortgages/article6841949.ece

brit1234

People can only hold out so much before they have to sell, distressed sellers will increase as unemployment rises.

new_home_owner_3

brit1234 wrote: »

People can only hold out so much before they have to sell, distressed sellers will increase as unemployment rises.

I wonder if these distressed sellers will hang onto their signatures as long as you do??

Im sure i remember your signature saying house prices to fall 50% by christmas 2009, what a mug......:cool:

zappahey

chucky wrote: »

Rightmove’s survey of asking prices reveals that all is not equal across the country. Asking prices remain substantially lower than a year ago in the North, North West, Yorkshire, East and West Midlands, Wales and South West. In all these regions, asking prices are now lower than a month ago, despite reputedly improved sentiment.

Does that mean they've only risen in the South East?

inspector_monkfish

00:45 21Sep09 - UK Sep house prices rose 0.6% m/m - Rightmove
23:44 GMT - [UK] house prices continue to improve with Sep posting a 0.6% rise to Gbp223,966 after a 2.2% fall in Aug while the the y/y came in at -1.5%
which was the smallest since a 1% fall in Sep 2008 according to Rightmove.
It attributed the rise to the lowest level of stock in 18 months as well as sellers' confidence picking up at the onset of the traditional autumn moving season. Rightmove reported that the average amount of time it took a property to sell rose for a second straight month to 81 days in September from 79 days in Aug, while the average level of stock per estate agent slipped to 69 in Aug from 70 in July and June. Rightmove said that "Confidence is up, stock is down and the number of people searching is high" "there are lots of positives but too few buyers can out down the 40% deposits that are needed in order to secure the best mortgage deals".

Crash_Over

http://www.rightmove.co.uk/news/files/2009/09/september-2009...

:j:T:j:T:j

IveSeenTheLight

Interesting headline

"[FONT=Verdana,Bold]Demand pulls ahead of supply as stock dwindles[/FONT]"

If this is true and demand is still higher than supply, maybe there wont be so much falls over the winter as we expect

IveSeenTheLight

brit1234 wrote: »

People can only hold out so much before they have to sell, distressed sellers will increase as unemployment rises.

Brit, I've said before, but it's time to update your signature.
Once again it's factually incorrect. Right move is not down for the last two months. In fact two consecutive months down have not occured since Dec 08 / Jan 09

chucky

brit1234 wrote: »

People can only hold out so much before they have to sell, distressed sellers will increase as unemployment rises.

now, now Brit you're sound bites are getting a bit tedious now.

explain this one - the economy has contracted just over 5% but the employment rate has only dropped 2%.

in previous recessions there has been some correlation

why hasn't there been any correlation now?

ps. Brit i don't expect you to be able to answer that. you seem clinically unavble to post a thread without the usual copy and paste of sound bites or text from the Daily Mail in big large red bold font

lemonjelly

new_home_owner wrote: »

I wonder if these distressed sellers will hang onto their signatures as long as you do??

Im sure i remember your signature saying house prices to fall 50% by christmas 2009, what a mug......:cool:

You seem to remember an awful lot for someone who joined this month, on a board which has only been accessible to registered users for a while?

ruggedtoast

Brodders!?!