Rightmove Jan +0.4% YoY, -0.8% MoM

HAMISH_MCTAVISH

chewmylegoff wrote: »

what will be the express headline?

"House Prices Rise Despite Euro Gloom"

The Housing Market enjoyed more good news today as Rightmove, Britain's largest property portal, reported house prices had risen 0.4% over the last year.

In a further development, Rightmove reported interest from buyers had soared to new record highs, while supply continued to fall with the number of new listings falling to the lowest level since records began.

The organisation discovered that there were 44 million property searches on the website in the first 10 days of 2012, up by 27 per cent on the same period in 2011. However, estate agents are now marketing less than one new property per week.

It was suggested that a shortage of sellers is underpinning prices, while the "ongoing mortgage famine" is holding back pent-up demand from buyers.

Miles Shipside, director of Rightmove, said: “Old records are being shattered as search activity is up by a staggering 27% on this time last year. Potential buyers and sellers are looking more often and researching more thoroughly. In locations where there is little stock for sale, they appear to have become online junkies, ready to pounce on fresh property coming to market to see if it will satisfy their housing need. This search-addiction is in part caused by each estate agency branches currently listing an average of less than one new property per week, an all-time low and around half of pre-credit crunch levels."

ukcarper

ruggedtoast wrote: »

High service charges?



Try having to find 10 times average salary with a 25% deposit just to get a shoe box your parents could have bought on one wage.

Sheesh.

See what I mean not a clue both examples miles out.

Sibley

Oh well.
Geneer broken. HPC website in bits.

Great day.

Aberdeenangarse

Sibley wrote: »

Great day.

...and prices still dropping in Maidstone......Happy days! :j

chewmylegoff

HAMISH_MCTAVISH wrote: »

"House Prices Rise Despite Euro Gloom"

The Housing Market enjoyed more good news today as Rightmove, Britain's largest property portal, reported house prices had risen 0.4% over the last year."

So basically a headline which suggests disingenuously that house prices are rising despite the eurozone crisis. The Eurozone crisis which started half way through last year since which time rightmove's asking price index indicates falls of approximately 7%.

Also it's notable that rightmove's own analysis of the number of searches doesn't claim that there are more and more people looking - rather that the people who are looking are carrying out a higher number of searches.

Also, if the "all time lows" of new property coming to market (all-time = since rightmove's records began....) are a significant factor, then why have asking prices been falling for the last three months? surely with chronic undersupply, and people ritually monitoring new listings to "pounce" on them, asking prices for new listings would be pushed up?

ruggedtoast

ukcarper wrote: »

See what I mean not a clue both examples miles out.

Rubbish. If this were Cluedo you wouldn't even have a clue in a little envelope.

chewmylegoff

ruggedtoast wrote: »

Rubbish. If this were Cluedo you wouldn't even have a clue in a little envelope.

Probably because the game of cluedo doesn't involve putting any clues in a little envelope, I would imagine!

FTBFun

ruggedtoast wrote: »

High service charges?



Try having to find 10 times average salary with a 25% deposit just to get a shoe box your parents could have bought on one wage.

Sheesh.

I'll remember that picture for next time you post some crap up about how "bad" public sector pensions are.

ruggedtoast

FTBFun wrote: »

I'll remember that picture for next time you post some crap up about how "bad" public sector pensions are.

Public sector pensions are a good thing. It's losing them that is bad.

FTBFun

ruggedtoast wrote: »

Public sector pensions are a good thing. It's losing them that is bad.

Having an excellent deal go to a really good one isn't "losing them".