Rightmove Apr: +2.1% MoM +0.4% YoY

HAMISH_MCTAVISH

• New seller asking prices up by 2.1% (+£4,996) this month to £244,706, the highest April figure ever recorded

• Fourth consecutive rise sees property coming to market up by 6.9% (+£15,717) so far in 2013, the second highest national figure ever recorded and within £1,529 of all-time high

• Combination of more positive market sentiment and seller shortage fuel upward price pressure: - number of newly marketed properties down 4% compared to same period last year

• gap between last advertised asking price on Rightmove and sold price narrows to 2.95%

All regions have seen prices rise month-on-month except London, though this should be put into the context of prices in the capital outpacing the rest of the country over the last 12 months.

Miles Shipside, director and housing market analyst at Rightmove comments: “Transaction volumes may be historically low but, paradoxically, new seller asking prices are within a grand and a half of a new record high. With mass-market buyers still sitting on the sidelines, the size of the active market is a lot smaller, making it easier for an upswing in activity to feed through to an upturn in prices.

With London prices pausing for breath this month but likely to bounce back next, May looks like an odds-on bet to deliver a new asking price record. This should not be confused with an overall market recovery, as while spring may be here the ongoing chill of the recession is still in the air. However, it is true to say that more estate agents are reporting more activity in more segments of the market.”

Rightmove research shows a narrowing of the average gap between last advertised asking price on Rightmove and sold price recorded with the Land Registry. In December the discount stood at 3.39%. It has since narrowed to 2.95%.

“This indicates that sellers are negotiating less and buyers are willing or able to pay more” says Shipside. “While the discount from the asking price on an individual property is very much a product of how realistic that price was, it is a sign of a recovering market if they are paying closer to what sellers ask.

http://www.rightmove.co.uk/news/files/2013/04/april-2013.pdf

Graham_Devon

So prices will be up £60,000 (and average over 300k) by the end of 2013 if trends continue...

shortchanged_2

Graham_Devon wrote: »

So prices will be up £60,000 (and average over 300k) by the end of 2013 if trends continue...

Certainly looks that way.

HAMISH_MCTAVISH

Graham_Devon wrote: »

So prices will be up £60,000 (and average over 300k) by the end of 2013 if trends continue...

shortchanged wrote: »

Certainly looks that way.

[/petulant bear mode]

System

HAMISH_MCTAVISH wrote: »

[/petulant bear mode]

heh, I mean of course, the rightmove index never follows the same pattern every year or anything.

paul1964_2

I guess everyone here knows that the RM index is not seasonally adjusted, so it goes up for a few months and down for a few months. You can see from the graphs that it is flat over the year (+0.4%).

Won't stop the Daily Express telling its readership that property rises by £161 a day.

Percy1983

Rightmove index... still means very little, please move on nothing to see here.

moneyinmypocket

Houses are a rising. Good news all round is say.

marathonic

Percy1983 wrote: »

Rightmove index... still means very little, please move on nothing to see here.

Regardless of peoples opinion of the indexes methodology, the fact that it's yet another index showing upward momentum in prices is signficant.

Thrugelmir

Spring bounce is late this year. Probably due to the weather.

harpoboy

Fourth consecutive rise sees property coming to market up by 6.9% (+£15,717) so far in 2013, the second highest national figure ever recorded and within £1,529 of all-time high

Wow ! That's quite some jump since the start of the year

Is this

(a) To be disregarded as "Noise"
(b) To be disregarded as Rightmove record asking prices only
(c) Another welcome piece of evidence of the property market awakening from its slumber of the past 5 years?