Rightmove Feb: +2.8% MoM +1.2% YoY

the_flying_pig

HAMISH_MCTAVISH wrote: »

...Banks continue to subvert intent of BOE with FFL, as not increasing funding for FTB-s.

:rotfl:

wasn't FFL when it was announced mostly trumpeted as something primarily about lending to, & I know it's a dirty word round here, but, well, business?

ruggedtoast

Over on hpc.co.uk this news has been greeted by deafening silence, and a few peeps of derision.

HAMISH_MCTAVISH

johnny_storm wrote: »

So the high street is closing down en masse as no one is spending any money and you are expecting house prices to bounce in the spring?

Does not compute.

There's a nice article on Money Week about houseprices

http://www.moneyweek.com/news-and-charts/economic-indicators/uk-house-prices

Which tbh I put more credence in than people with vested interests on a forum about saving money.

And yet house prices are rising.:)

Asking prices up, selling prices up, and with mortgage approvals also up this looks likely to continue.

Harry_Boyle

Good news for people who are in negative equity. It's also an indicator of the health of the wider economy, so perhaps things are starting to pick up?

Sibley

HPC are trying to stifle the news...hahaha

Percy1983

How many times do we need to say this, the rightmove index means nothing.

The methodology is a little loose and its based on asking prices which do not equate to selling prices.

Seriously can we all just agree there is little meaning in this index and just leave it alone?

james_toney

ruggedtoast wrote: »

Over on hpc.co.uk this news has been greeted by deafening silence, and a few peeps of derision.

:rotfl:

they will never learn

Conrad

shortchanged wrote: »

So higher house prices at a time when more and more are being financially squeezed = a boost of consumer confidence?

Yes.

+ People buy into an inflating asset journey. It slowly engenders self confidence as financial security edges closer, year by year.



+ Thier inflating asset also spring boards them up the ladder later on. My generation in the South East now typically sit on several hundred thousand pounds worth of equity. People bang on about other assets being better at providing capital but it just isn't on the average persons radar. Property equity is. It acts like a central anchor in your life, a safety valve.


+ I for example now have the confidence to have recently carried out various home improvments. Growing equity helps one feel more right headed in terms of this expenditure.

ruggedtoast

I had a look on RM for my banlieu, and it does seem that after significant asking price falls over the Winter, sellers are buoyed by the early sunshine and are standing firm in the face of house destroying Fifth Columnists coordinated by the shadowy hpc.co.uk organisation.

Who will win come the summer is anyones guess and this year looks to be a long and hard-fought campaign for house price supremacy.

Rumours that Realistbear will be selling his property at 30% of what he paid for it to a young couple to get the Sussex price crash going are as of yet, unsubstantiated.

brit1234

Harry_Boyle wrote: »

Good news for people who are in negative equity. It's also an indicator of the health of the wider economy, so perhaps things are starting to pick up?

Why?

You do know this is initial asking prices for 1 month, none of it has been converted to actual sales.

The Rightmove index will be worthless junk unless they include all their properties on their books till point of sale or removal. The index ignores if older properties asking prices have gone up or down, thus it is meaningless junk.