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Rightmove Sept: + 0.9% MoM +6.4% YoY - New Record High
HAMISH_MCTAVISH
Posts: 28,592 Forumite
http://www.propertyindustryeye.com/drought-asking-prices-soar-to-new-record-as-stock-levels-dry-up/Asking prices have soared to a new record high, driven by high demand and low supply, according to Rightmove.
This morning Rightmove reports the biggest September rise for 13 years in asking prices for properties new to the market.
The average new asking price is now £294,834 up 0.9% on August and 6.4% on a year ago.
And yes, I know, it's only asking prices.
Sold prices however are showing very similar rises.
According to the ONS Prices are up 5% plus in the last year and the average price of sold houses in the UK as of July was £282,000.
“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”
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Comments
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But I thought prices would drop like a stone thanks to tightened lending criteria imposed by regulators?
Why is life sooooooooooo unfair?0 -
But I thought prices would drop like a stone thanks to tightened lending criteria imposed by regulators?
Why is life sooooooooooo unfair?
Don't panic, interest rate hikes are on the horizon. Millions of people will be in financial 'crisis' (there's a word you don't hear every day) and will wish they'd never borrowed well beyond their means almost ten years back when they were earning about a fifth of what they are today.
Oh, hang on... never mind:
NS&I cuts interest rate for thousands of savers
Bank of England may cut rates, says chief economist0 -
Locally there have been some eye-watering asking prices for new listings.....but almost all of them start to see reductions with a few weeks.
Going to see something at the weekend that has had the asking price reduced 5 times in about 4 months, total reduction abut 30%. If I offer it will be at about 15% below current asking price
I think....0 -
Strange. According to the HPC disciples, the market was supposed to be flooded with cheap ex-BTL properties from panic stricken landlords.HAMISH_MCTAVISH wrote: »...low supply...
Oh well. Don't blame me, I voted Remain.0 -
I'm struggling to find another buy to let due to the price rises. Have been considering different locations as a result.
High yield suggestions welcomed...0 -
mayonnaise wrote: »Strange. According to the HPC disciples, the market was supposed to be flooded with cheap ex-BTL properties from panic stricken landlords.
Ah well.
Another bonkers HPC theory consigned to the dustbin of history.
Has anyone kept track of how many there have been now?“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
Things are really heating up, I think this it, the big post election housing boom. The market Is speculating ten years of Tory rule and its pricing it in now and together with supply being so tight, the next two years or so will be fairly spectacular rises in some places.Proudly voted remain. A global union of countries is the only way to commit global capital to the rule of law.0
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I'm going to build my next house with gold bricks so that it remains neutral in value
#diversificationLeft is never right but I always am.0 -
Mistermeaner wrote: »I'm going to build my next house with gold bricks so that it remains neutral in value
#diversification
I'm looking into pig farming, apparently it offers very attractive returns.Proudly voted remain. A global union of countries is the only way to commit global capital to the rule of law.0 -
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