London house prices up 4.2% in a month

[Deleted User]

Looks like the heavy investment of the financial sector into the conservatives paid off nicely.

http://www.guardian.co.uk/business/2011/feb/21/london-property-prices-bankers-bonuses

To be fair though without 'Operation Merlin' the avg asking price might have been £430,681 not £430,680

AD9898_2

Yes thought it was the elite market pushing those prices up, the rest of the UK is heading down, so it's no surprise those with huge sums of money can buy.

Irrelevant in the end to most of the populous, it's like saying the sales of Ferrari's have doubled, it makes no difference to the people who work at Ford or Vauxhall.

the_flying_pig

yeah but, well, asking prices are meaningless, aren't they?

yorkshire asking prices increased by 7% last month.

Loughton_Monkey

I believe the correct annual price rise to January is only 10.3%

http://www.aboutproperty.co.uk/uk-property/2011/02/10/london-property-prices-rise-in-january

According to the latest Prime Central London Index from Knight Frank, average values had increased by 1.1 per cent last month, with recent price performance contributing to an annual rise of 10.3 per cent in the 12 months to January.

[Deleted User]

the_flying_pig wrote: »

yeah but, well, asking prices are meaningless, aren't they?

yorkshire asking prices increased by 7% last month.

Asking prices are significant as with any market. Though they do not translate exactly into final prices the rate of change is a fair indicator and worth watching as obviously the asking price will change before the final price.

We have low volumes at the moment so the figure are likely to be more volatile.

ILW

Loughton_Monkey wrote: »

I believe the correct annual price rise to January is only 10.3%

http://www.aboutproperty.co.uk/uk-property/2011/02/10/london-property-prices-rise-in-january

I believe Knight Frank only deal with high end property.

FTBFun

This is my borough, which has a greater variety of property than that listed with Knight Frank I suspect.

http://www.wheresmyproperty.com/prices/London/Southwark.htm

London really is in its own world when it comes to property prices. Although you try telling that to one particular poster.

drc

"4% rise in asking prices"

Says it all...people getting greedier.

Llubrevlis

There was another thread about rightmove reporting asking rices actually went u. But everyone knows house prices are falling.

DVardysShadow

[quote=[Deleted User];41414832]Asking prices are significant as with any market. Though they do not translate exactly into final prices the rate of change is a fair indicator and worth watching as obviously the asking price will change before the final price.

We have low volumes at the moment so the figure are likely to be more volatile.[/QUOTE]
It is only a fair indicator when viewed over a sustained period. What we see here is purely a seasonal change in marketing strategy for the spring

Dell

Even if it is 4% up that is still less than inflation.