Rightmove Up 0.6% September 2009

house123

It attributed the rise to the lowest level of stock in 18 months

interesting, but confusing.
In the areas of Suffolk I look at I have seen more houses coming on the market in the last month than at any time this year. At the same time I am seeing fewer sales.

Does anyone else see this?

ruggedtoast

All markets are local markets - I cant imagine how RM could make a meaningful average of house prices if theyre including Chelsea mansions against terraces in Crawley. Who knows - things have been selling thats for sure.

Brother in laws house in the SE went within a week, someone else I know had their place on for over a year and has now gone STC, loads of viewings in the summer. Stuff in London has been moving - the bank of mum and dad has been most generous lately - I have heard it may be running a bit short of funds though.

IveSeenTheLight

house123 wrote: »

It attributed the rise to the lowest level of stock in 18 months

interesting, but confusing.
In the areas of Suffolk I look at I have seen more houses coming on the market in the last month than at any time this year. At the same time I am seeing fewer sales.

Does anyone else see this?

While there can be differences in specific areas, from rightmove own data, you can see the trend is for less supply

Graham_Devon

I must buy a house before it's too late and they double in price in 3 years.

I think I missed the boat!

chucky

Graham_Devon wrote: »

I must buy a house before it's too late and they double in price in 3 years.

I think I missed the boat!

if you're looking to sell - maybe you have missed that elusive boat.
asking prices have dropped in your area.

The South-West and London are within 1% of breakeven, with prices just 0.1% and 0.9% lower respectively.

i'm sure that you didn't mean that though

Graham_Devon

Break even with peak?

Ooooo, I'm back to having around 17k equity then!

I jest of course. Just think asking prices are a useless measurement really. Shows sentiment I would guess. Dunno who's sentiment it shows though. Sellers and estate agents?

chucky

Graham_Devon wrote: »

Break even with peak?

Ooooo, I'm back to having around 17k equity then!

I jest of course. Just think asking prices are a useless measurement really. Shows sentiment I would guess. Dunno who's sentiment it shows though. Sellers and estate agents?

it's just another lead indicator - the least accurate of the lot but does give an idea about sentiment for EA's and sellers.

even if you did decide to sell and upgrade you'd have to factor in all of the costs; solicitors fees, estate agent fees and the costs of the new place - stamp duty, solicitor fess etc...

so you'd still be moving at a loss - it will take a bit more than breaking even above peak to get people moving or upgrading to another property.

IveSeenTheLight

Graham_Devon wrote: »

Break even with peak?

Ooooo, I'm back to having around 17k equity then!

I jest of course. Just think asking prices are a useless measurement really. Shows sentiment I would guess. Dunno who's sentiment it shows though. Sellers and estate agents?

Totally agree with you Graham :eek:
As the thread is about rightmove though
Asking prices also have nothing to do with the amount of sellers there are(supply) as shown by the number of properties for sale per estate agent

mr_fishbulb

The reporting of asking prices is self-perpetuating. People see "house prices are up" headlines generated by Rightmove data and think "I could get a bit more for my house than I thought".

Also works when figures are negative.

ess0two

ruggedtoast wrote: »

Brodders!?!

Long live the king of mse.