House prices SURGE in October - Express hails new BOOM

Generali

ruggedtoast wrote: »

Over on hpc.co.uk they are downbeat about this data. They are disparaging.

Did you thrust your groin at them while singing this?

http://www.youtube.com/watch?v=oVHrvx-Ua68 (SFW)

Conrad

chucknorris wrote: »

I would like to be wrong but I just can't see house prices increasing for about 3 years, I don't see any crash though, I think we will be flat nominally so in real terms probably falling about 7-8% during that period.

Im my area in the shires outside London, rentals are rocketing. Is this the case elsewhere does anyone know?

My 2011 thread in discussion time predicts now to be the dawn of the new boom and I am very confident the pieces are falling into place.

shortchanged_2

breadlinebetty wrote: »

It'a actually in all the papes - not just the Express.

I'm not disputing the figures after all they are only asking prices.

You just have to love the spin the Express tries to put on it.

I think it's time the Express renamed itself 'Property Ramper Gazette'.

Conrad

shortchanged wrote: »

So sellers think that rising prices in a market that is not functioning is the answer!

I have a lettings dept' in my mortgage shop and the trend we're seeing is renters wanting to buy due to rapidly rising rental prices.
This is augmented with more landlord demand attracted by the same rising rents.

This together with the rebalanacing economy as evidenced by things such as increasing private sector employment and new business creation, tells me the trend is tilting towards quite significant property price rises.

The mortgage famine is real, but rising rents are a function of this, so in this sense rising property prices are more than feasible.

Generali

HAMISH_MCTAVISH wrote: »

Rightmove oct. +3.5% mom +1.5% yoy.

Asking prices usually rise in October though, so not unexpected.

Do they? Seems a bit weird.

wotsthat

Generali wrote: »

Do they? Seems a bit weird.

They do.

+1.0%, +2.8%, +3.1%, +2.8%, +3.5% - that's 2008 onwards.

Not sure what the explanation is.

mystic_trev

Conrad wrote: »

My 2011 thread in discussion time predicts now to be the dawn of the new boom and I am very confident the pieces are falling into place.

Not those Green shoots again! :rotfl:

Conrad wrote: »

The economy is turning around fast - you won't percieve this as your mind filters out upswing evidence and only files downside evidence.

I can't be @ssed to go into the evidence this time as it will fall on deaf ears.

All I'll say is, remember these words - by summer this year the new prosperity era will be underway and plenty of green shoot (ah yes those shoots) will be visible by then.

Of course you will dismiss this nonsense, afterall your'e a realist right:beer:, neg heads are always realists:rotfl:

Generali

wotsthat wrote: »

They do.

+1.0%, +2.8%, +3.1%, +2.8%, +3.5% - that's 2008 onwards.

Not sure what the explanation is.

Thanks wotsthat.

A bit of pre-Christmas optimism perhaps? Beating the Spring bounce to it? A bit of Octimism?

hildosaver

breadlinebetty wrote: »

I don't think the UK has ever followed on after Northern Ireland It's always London that leads.........and then the rest usually follows:)

I have head, though, that Northern Ireland prices have halved in the last couple of years. Things must be very tough for those who bought at the peak.:(

In some places they have halved, it's a total disaster for many people I know. My own situation isnt great but better than some over here - I bought a 3 bed semi about a year or so after the first year of crashing prices - at the peak this house was worth around £160-£180k and I got it for £132k, now it would be valued around 100k, its dramatic and means Im stuck in negative equity and unable to benefit from a better mortgage deal or sell for the forseeable future.

Sadly I believe that this situation will continue for at least 5 years, hope I am wrong.

wotsthat

Generali wrote: »

Thanks wotsthat.

A bit of pre-Christmas optimism perhaps? Beating the Spring bounce to it? A bit of Octimism?

A last minute rush before the clocks change? I'm always surprised at how seasonal the largest purchases of peoples lives are anyway.