Rightmove: +0.3%MoM, +5%YoY

paul1964_2

chucky wrote: »

if you were so impartial you would have highlighted more of the Rightmove's report apart from the more negative detail...

Oops! Looks like my post the other day has struck a nerve. I merely think it is possible to express oneself without continually trying to wind people up.

I never said I was impartial. Personally, I would prefer that house prices neither boom nor crash, but rather undergo a gradual correction. I believe that this would be in the best interests of the country. The report seems to suggest that there is a possibility that we could be heading that way.

chucky

paul1964 wrote: »

Oops! Looks like my post the other day has struck a nerve. I merely think it is possible to express oneself without continually trying to wind people up.

i doubt it but you'd come across better if you came out and admitted what your previous 'bearish' user name was though

Emy1501

I am seeing some of what rightmove are saying. In my search area the number of properties rose from 125 to 190 between Jan and the beginning of May. Fell back to 170 at the end of may and is now at 211 and rising.

Something will have to give soon whether its people buying again after the budget or prices falling if the trend of more available houses continue.

paul1964_2

chucky wrote: »

i doubt it but you'd come across better if you came out an admitted what your previous 'bearish' user name was though

I have not had a user name prior to this one.

Have you got any comment to make about Mr Shipside's forecasts?

chucky

paul1964 wrote: »

I have not had a user name prior to this one.

Have you got any comment to make about Mr Shipside's forecasts?

not really but... the last piece of the quote that you failed to highlight is interesting...

"Having seen average asking prices rise for ten out of the last 14 months, and a 7.4% increase in the first six months of 2010, we forecast that new seller prices will fall during the second half of 2010 to give an overall price standstill for the year."

paul1964_2

chucky wrote: »

not really but... the last piece of the quote that you failed to highlight is interesting...

I couldn't highlight everything in the quote. It would kind of defeat the object.

You are right. Rightmove say asking prices went up at the start of the year by 7.4% and are due to fall back by a similar amount during the second half. If they are correct, at least we are not starting another damaging boom/bust cycle at the moment.