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

recapture_is_evil

Wow, what a thread!

Humm, as always people can ask whatever they like for an asset. A price rise like this could just be a lot of people in heavy debts after Christmas, wanting out. We'll have to wait a few months to see if this converts into sales when the land registry indexes come out.

I can't quite understand why people think house price rises are a good thing, it really only benefits you if you are selling up and getting out of the market.

With house rises, if you want to buy anything (moving etc..) your estate agent fees are higher, your mortgage fees are higher and your stamp duty is going to be more - particularly if you are moving to a larger property.

Why is this seen as positive, if you are not an estate agent, involved in mortgages/banking or hmrc?

Percy1983

CRASH_BANG_WALLOP wrote: »

dude just ignore him, mr ree, mr pinkpants etc etc etc the idiot will soon get bored.
you have hit a nerve with this looser otherwise why would the dude go and make up a new username about you? you have won, he on the other hand is hurting dude. sit back and laugh at him dude. you have a house a business and a girl. he has his sockies. so who is the looser dude?

By all means I already know this but thank you.

I will say it does give me a good laugh and doesn't upset me as I know the good things in my life are happening if he/she/it believes me or not.

By all means I am flatered that I am doing so well he/she/it finds it hard to believe.

MrRee_2

Let me say that I simply report on things happening .... and an upturn in house demand and prices is there for all to see.

Percy - I have never slagged off your achievements .... I admire winners like you. CBW and his sockies are the sad, lonely losers you would do well to ignore!

CRASH_BANG_WALLOP

MrRee wrote: »

Let me say that I simply report on things happening .... and an upturn in house demand and prices is there for all to see.

Percy - I have never slagged off your achievements .... I admire winners like you. CBW and his sockies are the sad, lonely losers you would do well to ignore!

look dude we all know you are PERCY_LIVES_WITH_MUMMIE or whatever you call yourself plus mrs ree plus mr pinkpants. everytime you post man you show yourself up
the thread by hamish about sockies has now spooked you hence you trying to take the morla high ground dude. the mods are watching you so grow up dude and get a life.;)

your are jealous of the dude percy and made up a username to attack him. you need banned dude for the good of the board and your health

nollag2006

HAMISH_MCTAVISH wrote: »

New sellers increase average asking prices by 4.1%, highest monthly increase since April 2002

• Surprisingly strong spring ‘price-pump’ by scarce sellers fuelled by cash-rich market sectors where demand exceeds supply, though also some evidence of increasing housing market confidence:

- More mortgage deals - number of products available with 10% deposit up a third on a year ago

- Nationally five out of ten view property as a lower risk asset class, while six out of ten state they feel the current market favours buyers suggesting buyer bidding-power

- Evidence of dormant buyers ‘springing back to life’ suggests some adjustment to the current volume-constrained but stable market as the new norm

• Upwards price-pressure sustainable in active cash-rich micro-markets with stock shortages – London prices now within 1% of an all-time high, as new listings down 9% on this time last year

Adjusting to ‘the new norm’
Record January search activity on Rightmove indicates a pent-up desire to move that out-weighs the uncertain economic outlook. With sales transaction numbers having been depressed for the last four years, many households will have a pressing need to move, and some of those that are able to do so seem to be springing back to life.

Shipside comments: “Search activity on Rightmove is up by 19% on January 2011, and it could be a sign that some of those who can afford to move have decided to get on with their lives, driven either by desperation or by coming to terms with the constant barrage of negative economic news being the new norm. You can get tired of gloomy news, or get used to it, and indeed for some cash-rich buyers life has moved on to such an extent that it’s like the Lehman Brothers collapse never happened”.

Dwindling stock
Some agents report that sales achieved in the last quarter of 2011 have now left them short of saleable stock. In October last year average unsold stock per estate agency branch was 75 properties, and this has now fallen to 67.

This is further evidence of a pick-up in buyer confidence and demand starting to eat away at the rump of unsold stock. Lack of capacity in the new-build sector and sellers’ reticence to come to market also means that properties that are coming off the market are not being replaced at the same rate.

Average weekly listings are currently running at circa 30% below pre-credit crunch levels, and new seller numbers continue to be as depressed as those of 2011. The weekly run-rate of 24,406 new listings is virtually unchanged on the 24,327 recorded in the same period last year. Upwards price-pressure is likely to be sustainable in active cash-rich micro-markets with a shortage of new listings. For example, London asking prices are now less than 1% off their all-time high, with property coming to market down 9% on this time last year.

http://www.rightmove.co.uk/news/files/2012/02/february-2012.pdf

But how did this all happen?

We have had a massive increase in mortgage approvals consistently in the past six months, and all indicators show that the economy is set for a boom.

The sensible money is on house prices being 5-8% higher this time next year

nollag2006

CRASH_BANG_WALLOP wrote: »

look dude we all know you are PERCY_LIVES_WITH_MUMMIE or whatever you call yourself ...

Hello Jimmy31! How is the caravan ce soir?

CRASH_BANG_WALLOP

nollag2006 wrote: »

But how did this all happen?

We have had a massive increase in mortgage approvals consistently in the past six months, and all indicators show that the economy is set for a boom.

The sensible money is on house prices being 5-8% higher this time next year

yeah sure we have dude :rotfl:

banks to clamp down on lending
unemployment rising
economy going nowhere
euro criris still not resolved
cost of living keeps rising
inflation twice the target

yeah dude boom times ahead :rotfl:

MrRee_2

I did notice that CBW appeared just when Jimmy31 disappeared ..... another sad sockie then?

MrRee_2

nollag2006 wrote: »

But how did this all happen?

We have had a massive increase in mortgage approvals consistently in the past six months, and all indicators show that the economy is set for a boom.

The sensible money is on house prices being 5-8% higher this time next year

There is no doubt whatsoever that a boom is just starting, certainly in the South it's been underway for 8 months now.

MrRee_2

Sorted ....