UK annual house price growth lowest since June 2013

westv

jacko74 wrote: »

Here's a seemingly simple question which, hopefully, someone wiser than me can answer... Why, when all the stats for my area indicate that property prices are still approximately 15% below peak prices of 2007/8 is it that every property currently up for sale in this area has an asking price at least the same and usually higher than 2007/8 values?

Are these places selling or just hanging around?

floridaman

House prices will keep rising. It's a supply and demand issue.

jacko74

westv wrote: »

Are these places selling or just hanging around?

I've just gone through my list of 'saved properties' on Rightmove that I've accumulated over the last 8 months, out of 72 properties on the list-

23 are still on the market

15 are showing as SSTC

34 have been withdrawn from the market (with no indication that they were under offer or SSTC)

So yes, I think it's fair to say the large majority are hanging around... I won't comment on deluded vendors with unrealistic asking prices

padington

If you don't think certain parts of London or the South east can go over a certain affordable glass ceiling how can you explain why so many parts of London already have done exactly that ?

The south east is growing in demand. The supply is low. Money is cheap and will have to be because of supersonic government debt and the UK remains an important safe have for a number of reasons.

It's up up up folks in London and her satellite sisters for as long as the Tories manage the economy or we get another bad apple event like the credit crash ( which hardly scratched prices in London ).

wotsthat

jacko74 wrote: »

I've just gone through my list of 'saved properties' on Rightmove that I've accumulated over the last 8 months, out of 72 properties on the list-

23 are still on the market

15 are showing as SSTC

34 have been withdrawn from the market (with no indication that they were under offer or SSTC)

So yes, I think it's fair to say the large majority are hanging around... I won't comment on deluded vendors with unrealistic asking prices

I'd suggest that with only 23 out of the 72 still available for sale the large majority aren't hanging around.

Generali

wotsthat wrote: »

I'd suggest that with only 23 out of the 72 still available for sale the large majority aren't hanging around.

It sounds to me like reading what you want to read into some numbers. Anything not positively sold must be unsold.

chucknorris

jacko74 wrote: »

Here's a seemingly simple question which, hopefully, someone wiser than me can answer... Why, when all the stats for my area indicate that property prices are still approximately 15% below peak prices of 2007/8 is it that every property currently up for sale in this area has an asking price at least the same and usually higher than 2007/8 values?

Wow that sounds like a depressed area where you live, sold (not asking) prices in both my areas (where I live Dorking, and my investment properties in London) are up over 20% and 35% respectively.

chucknorris

padington wrote: »

If you don't think certain parts of London or the South east can go over a certain affordable glass ceiling how can you explain why so many parts of London already have done exactly that ?

The south east is growing in demand. The supply is low. Money is cheap and will have to be because of supersonic government debt and the UK remains an important safe have for a number of reasons.

It's up up up folks in London and her satellite sisters for as long as the Tories manage the economy or we get another bad apple event like the credit crash ( which hardly scratched prices in London ).

I must admit, the surge in London prices about 18 months ago, I can't remember exactly when it happened, (I only track prices every so often, so I actually missed it, when it happened) really did surprise me. To the extent that I am doubtful that they can go much higher (in real terms) but then despite what others on here may think, I do tend to be a little bearish on HPI, I think it is better to be pleasantly surprised, rather than disappointed.

martinsurrey

Generali wrote: »

It sounds to me like reading what you want to read into some numbers. Anything not positively sold must be unsold.

same could be said about your comment...

I could say anything not positively not sold must be sold.

Fact is Wotsthat was just looking at adverts, NOT sold data.

The house I bought went from available on Rightmove to just disappearing (as I insisted on it), so in Wotsthat's world I didn't buy my house.

wotsthat

martinsurrey wrote: »

same could be said about your comment...

I could say anything not positively not sold must be sold.

Fact is Wotsthat was just looking at adverts, NOT sold data.

The house I bought went from available on Rightmove to just disappearing (as I insisted on it), so in Wotsthat's world I didn't buy my house.

I was commenting on someone else's data analysis rather than agreeing that Rightmove is the arbiter of the status of a house.

If Jacko is concluding the majority of houses aren't shifting because 23 out of 72 are still available for sale after 8 months that's a conclusion that's likely wrong. Maybe there will be some follow up analysis to determine whether the real majority were sold or withdrawn.

Your house went from available to unavailable - I'd conclude it was sold or withdrawn from sale. There aren't any other variables.