FT - UK house (asking) prices reach record high as Rightmove surges 1% in May

Turnbull2000

The government now just needs lending levels to match these prices so transaction levels can recover. Or alternatively, these owners will opt to retain their asset and rent out instead - reaping the rewards in the years ahead as the property shortage becomes chronically bad. Aren't accidental landlords now half the rental market?

http://www.ft.com/cms/s/0/ad02af98-b88f-11e1-a2d6-00144feabdc0.html?ftcamp=published_links%2Frss%2Fworld_uk_economy%2Ffeed%2F%2Fproduct

Not sure the real terms measure is as relevant as the FT make out, as inflation has moved ahead of earnings since 2007.

HAMISH_MCTAVISH

Rightmove average house asking price = £246,235

Acadametrics average house sold price = £223,207

Which would indicate sold prices are currently around 90% of the new record high asking prices, which are themselves 2% above previous peak.

(Acadametrics also use an "average" price, rather than the "typical price of a fictional house" as used by Haliwide)

homelessskilledworker

There is definitely something in this and not just for the housing maket, but the economy at large.
On friday I purchased a mars bar for 55p, this morning I have gone the weekend without eating it and decided to put it up for sale in our post office window for £5, that is nearly a ten fold increase.

Happy days are here again.... REJOICE!!

chewmylegoff

homelessskilledworker wrote: »

There is definitely something in this and not just for the housing maket, but the economy at large.
On friday I purchased a mars bar for 55p, this morning I have gone the weekend without eating it and decided to put it up for sale in our post office window for £5, that is nearly a ten fold increase.

Happy days are here again.... REJOICE!!

55p? They're only 49p in asda, you've been had. No wonder you can't afford a house if you overpay for everything by 12%.

homelessskilledworker

chewmylegoff wrote: »

55p? They're only 49p in asda, you've been had. No wonder you can't afford a house if you overpay for everything by 12%.

Mmmm, and I purchased an Ipod way back in 2008, which we all know is the death nail in property ownership.

MacMickster

So if I put my house on the market for £100 billion (even though it wouldn't sell for more than £500K), that would further increase the average asking price and show that the housing market has picked up even more?

I've heard of fantasy football before but it seems that we now have a new game of fantasy housing markets.

crash123

Rightmove is `initial asking prices` for newly listed properties.
How many get reduced soon after being listed?
Average asking price of all properties listed?
How long have they been on the market?
I am sure that Rightmove could give more information from the data that they have.

homelessskilledworker

MacMickster wrote: »

So if I put my house on the market for £100 billion (even though it wouldn't sell for more than £500K), that would further increase the average asking price and show that the housing market has picked up even more?

I've heard of fantasy football before but it seems that we now have a new game of fantasy housing markets.

Welcome to the world of Rightmove:)

The fact that ALL the indicies are now showing annual falls(nominal and real) is of no concern to some on here that actually take credence from these Rightmove fairytales.

The only thing I will be fair about when it comes to Rightmove is to point out even they show the south east and London as the main reason why prices have held up, my area fell -1% last month.

And just for the record I was slagging off Rightmove within the last year when they showed huge falls.

Pimperne1

http://www.housepricecrash.co.uk/forum/index.php?showtopic=179742

I bet when these guys joined HPC nearly 5 years ago they didn't think they would be submitting posts preventing new joiners from thinking that prices were on the up.

homelessskilledworker

Pimperne1 wrote: »

http://www.housepricecrash.co.uk/forum/index.php?showtopic=179742

I bet when these guys joined HPC nearly 5 years ago they didn't think they would be submitting posts preventing new joiners from thinking that prices were on the up.

Prices are not going up!

Where did you get that from?

wotsthat

homelessskilledworker wrote: »

Welcome to the world of Rightmove:)

The fact that ALL the indicies are now showing annual falls(nominal and real) is of no concern to some on here that actually take credence from these Rightmove fairytales.

The only thing I will be fair about when it comes to Rightmove is to point out even they show the south east and London as the main reason why prices have held up, my area fell -1% last month.

And just for the record I was slagging off Rightmove within the last year when they showed huge falls.

Rightmove's primary function is to provide a searchable database of properties for sale. As far as I can tell they seem to do a pretty good job of this.

Just because they index asking prices and you don't like the numbers doesn't mean there's something wrong with Rightmove does it?