Rightmove listings: a big increase, more than usual for January?!

skap7309

MatteH wrote: »

I've noticed a huge surge in supply over the last week, certainly more noticeable than last January Anecdotally .

Where can you find YoY figures (for the amount of properties on the market), Jan'09 -jan'10?

Could this be the turning point? Its always been about low transactions keeping house prices buoyant......... :beer:

HAMISH_MCTAVISH

skap7309 wrote: »

Could this be the turning point? Its always been about low transactions keeping house prices buoyant......... :beer:

:rotfl:

You may have noticed this thing called "winter" occurring outside at the moment.

Prices should be falling. Transactions should be declining. Inventory should be increasing.

None of these things appear to be happening as much as expected, if at all.....

Edited to add, the Rightmove numbers are in......

House prices jumped by 1.2% during the first week of January as confident new sellers hiked their asking prices, research has shown.

The steep rise in asking prices during the early days of 2010 helped the average cost of a home on the market in England and Wales increase by 0.4% during the five weeks to January 9 to £222,261.

Property website Rightmove said the housing market had got off to a "buoyant start" this year, as record numbers of people logged on to its website to view property, with volumes up 26% compared with the same period of 2009.

It also estimates that the stock of homes for sale is currently at its lowest level this century, suggesting that the mismatch between supply and demand will continue to push up prices in the short term.

The latest increase, which followed two months during which the cost of property had fallen, left the average asking price 4.1% higher than at the beginning of January 2009.

Miles Shipside, commercial director of Rightmove, said: "This rise in asking prices is an early indicator that new sellers in 2010 have the confidence to try for a higher price, as the index was lined up for a fall until the turn of the year.

"We were expecting a drop of about 1% as the majority of this month's index falls in December, but the optimism of those early January sellers flipped it around."

The group said the factors that led to the unexpected buoyancy in the housing market during 2009 were continuing.

The average estate agency branch now has just 63 properties on its books, the lowest level since January 2008.

But the group said the overall number of homes for sale was likely to be far lower than two years ago, as many estate agency branches had closed during the period.

2010 is off to a flying start..... We may not need to wait for spring for the bounce after all.

MatteH

HAMISH_MCTAVISH wrote: »

:rotfl:

You may have noticed this thing called "winter" occurring outside at the moment.

Prices should be falling. Transactions should be declining. Inventory should be increasing.

None of these things appear to be happening as much as expected, if at all.....

Edited to add, the Rightmove numbers are in......



2010 is off to a flying start..... We may not need to wait for spring for the bounce after all.

That's for December. Let's see Feb's, or perhaps the march figures to take into account the rise in supply?.

I wonder what a massive increase in supply means, without the means to pay?