Rightmove Feb: +4.1% - Prices rise at fastest rate in a decade!!!

Mr._Pricklepants

AndyGuil wrote: »

Of asking prices, yes. Selling prices are still falling.

Yes we know, dropping so fast that there's now a 73K gap on average. :T

AndyGuil wrote: »

The average asking price is £233,252 and the average selling price is £160,384 (and falling).

AndyGuil

Mr._Pricklepants wrote: »

Yes we know, dropping so fast that there's now a 73K gap on average. :T

Yes there is a disconnect between the actual selling price and the asking price. That is why it is important to highlight this difference.

myhouse_2

Given that the last thing the economy needs is for the house market to boom again, shouldn't the bank step in with increased interest rates? Even at the expense of growth in the wider economy which is their entire focus at present.
Of course, I suspect this rise is more delusion that anything else, but it is possible that the present high prices are sustainable while rates are low.

EchoLocation

myhouse wrote: »

Given that the last thing the economy needs is for the house market to boom again, shouldn't the bank step in with increased interest rates? Even at the expense of growth in the wider economy which is their entire focus at present.
Of course, I suspect this rise is more delusion that anything else, but it is possible that the present high prices are sustainable while rates are low.

Part delusion and part greed, but not a chance of a new boom. I'm not bothered by this expected rise in asking prices, all that will result in the next few months is the increased volumes remaining unsold and subsequently competing on reductions.

The BOE really shouldn't have the housing market in mind when setting rates, but I suppose given that it's pretty clear that the housing market is the economy they can't just go mad and crank them up. They should never have put them down so low, let alone leave them there for nigh on 3 years, but the damage is done; though it's obvious that the prop will have to be removed at some point.

Sibley

Given that the last thing the economy needs is for the house market to boom again, shouldn't the bank step in with increased interest rates? Even at the expense of growth in the wider economy which is their entire focus at present.
Of course, I suspect this rise is more delusion that anything else, but it is possible that the present high prices are sustainable while rates are low.

Sorry but millions of homeowners won't agree with you.
We want our houses worth as much as possible.

I can't be bothered to post it but here in Asia, London property is being offered as an investment.

Prices will be rocketing. The pound is low and these deals look really good. We are on the verge of a big boom.

Sorry for those priced out but they have to deal with it like we did. No free dinners here. Move along.

AndyGuil

Sibley wrote: »

Sorry but millions of homeowners won't agree with you.
We want our houses worth as much as possible.

I can't be bothered to post it but here in Asia, London property is being offered as an investment.

Prices will be rocketing. The pound is low and these deals look really good. We are on the verge of a big boom.

Sorry for those priced out but they have to deal with it like we did. No free dinners here. Move along.

Those days are over. The boom and bust time was a symbol of all we are leaving behind.

HAMISH_MCTAVISH

AndyGuil wrote: »

Those days are over. The boom and bust time was a symbol of all we are leaving behind.

:rotfl:

"No more boom and bust".

Now, where have I heard that before? :think:

robmatic

HAMISH_MCTAVISH wrote: »

:rotfl:

"No more boom and bust".

Now, where have I heard that before? :think:

It's different this time.

Percy1983

HAMISH_MCTAVISH wrote: »

:rotfl:

"No more boom and bust".

Now, where have I heard that before? :think:

When Labour where in charge...

Sibley

http://www.express.co.uk/posts/view/303263

Now the full power of the Daily Express is behind the rise.