MSE News: House asking prices rise for third consecutive month

Former_MSE_Helen

This is the discussion thread for the following MSE News Story:

"Renewed activity in the housing market is managing to outweigh the impact of economic uncertainty, says Rightmove ..."

Read the full story:
House asking prices rise for third consecutive month

Reaper

How can you do a news story saying prices have risen 3 months in a row just after you do a new story saying mortgage lending stalled in February?

All it really shows is the figures can't be trusted. In particular estate agent asking prices tell you practically nothing. Only the price houses have sold at matters.

regbrown

yes its an odd one isnt it. apparently a website whose goal it is to sell houses is suggesting things are picking up... almost comical really. its hard enough understanding all the data from proper unbiased sources. this just feels like an obvious PR stunt...

Honest_EA

This is another example of a misleading article that starts off with a bold statement but turns out to be something very different once you actually read the content. It basically says that asking prices from new sellers on rightmove were higher than last month. That doesn't mean house prices are going up - it simply means that the people listing their property on rightmove are 'testing the water' to see what interest they get before the big 'spring bounce'. There are few forced sellers because interest rates are so low and most people are still choosing to believe estate agents who give them the highest valuation rather than going with a lower valuation from another agent.
In the same article there is a contradictory result from zoopla:

Meanwhile, property website Zoopla.co.uk says house prices had hit an eight-month low, after dropping by 11.09% since July, wiping £26,240 off the value of a typical home.

The headline basically takes the higher asking prices on rightmove as the basis for the positive headline instead of actual data from zoopla which points towards a much more negative market. Figures can be manipulated in any way you like but remember folks that on the ground, us estate agents are seeing the reality of the economy and its not rosey like this article points out.

MiserlyMartin

More fictional figures and a misleading headline which should read "House ASKING prices rise". House prices continue to drop by every other index even halifax/nationwide, yet ASKING prices rise by deluded sellers. Amongst a terrible economic backdrop. Sellers detached from reality egged on by estate agents who advise these crazy prices.

Eton_Rifle

Reaper wrote: »

How can you do a news story saying prices have risen 3 months in a row just after you do a new story saying mortgage lending stalled in February?

Yeah, we want our news censored so it fits our agenda ...

edinburgher

They can ask all they like - we're not paying!

I'm now able to buy a house, but am a FTB on strike until vendors get realistic

Running_Horse

RenovationMan wrote: »

What's going on?

They like to let the lunatics out once in a while.

They'll all be along shortly.

In fairness, most of them ignore discussions asking for help and only jump on specific price discussions.

Eton_Rifle

Running_Horse wrote: »

In fairness, most of them ignore discussions asking for help and only jump on specific price discussions.

You give too much credit to the house price reply bots.

hazyjo

There's always a bit of a boost at this time of year - plus tonnes of new stuff came on after Christmas. Again, perfectly normal in any market.

Also, people are getting wise to just about everyone offering 10% below asking price (or thereabouts) and are putting the price up. People like to think they've got a bargain so some sellers are drastically upping their asking prices in order to actually get what they want.

Absolutely irrelevant that asking prices increase. If that was selling prices, might be a different story.

Jx

danothy

MiserlyMartin wrote: »

More fictional figures and a misleading headline which should read "House ASKING prices rise". House prices continue to drop by every other index even halifax/nationwide, yet ASKING prices rise by deluded sellers. Amongst a terrible economic backdrop. Sellers detached from reality egged on by estate agents who advise these crazy prices.

I didn't see the headline before now, but it seems your comments have been addressed in the headline ... good scrutiny there