Rightmove House Price Index

[DimPrawn]

http://www.rightmove.co.uk/news/file...ruary-2011.pdf

Apart from vendors putting their asking prices UP by and average of 3.1% in a single month (recession, what ******* recession!), it makes an interesting read, especially since twice as many properties have come onto the market as mortgages approved.

Overall, sellers are holding out. Low unemployment, no real cuts being made and low interest rates mean absolutely no reason for house prices to fall. BoE and government will protect debtors no matter what the cost to the real economy.

Perfect time for anyone to get into BTL in a big way.

[TimberWolf]

http://www.rightmove.co.uk/news/file...ruary-2011.pdf

Apart from vendors putting their asking prices UP by and average of 3.1% in a single month (recession, what ******* recession!), it makes an interesting read, especially since twice as many properties have come onto the market as mortgages approved.

Overall, sellers are holding out. Low unemployment, no real cuts being made and low interest rates mean absolutely no reason for house prices to fall. BoE and government will protect debtors no matter what the cost to the real economy.

Perfect time for anyone to get into BTL in a big way.

BBC News - UK unemployment total rises again

I thought unemployment was booming, hence the need for more Bobs.

[DimPrawn]

2.5 million is not high when you consider the population of the UK has risen dramatically due to immigration. That would have been low in the 80's let alone now.

[DimPrawn]

This says it all:

In the more economically depressed areas of the country where forced sales are becoming more
prevalent, some sellers are falling prey to the ‘bargain hunting bottom-feeder’ investors. These cash-rich
buyers seek out distressed sales and represent the third tier of the current market. When interest rates
rise, increasing the likelihood of more forced sellers coming to market, they will benefit from greater
opportunities. This may well happen in the second half of the year and will push prices down in the
areas worst affected. There is evidence of growing competition to lend in this traditional first-time buyer
market segment. However, lenders are not looking to support the greater volume of deposit light firsttime
buyers, but are reportedly gearing up to chase the minority market of equity-heavy buy-to-let
investors. If substantial lending returns to help buy-to-let investors snap up lower priced properties
rather than helping to support the mass market of potential first-time buyers, it shows that mortgage
funds are available in this price bracket but are being denied to those who need them most. Agents
report that cherry-picking lending practices are leading to some dysfunctional and desperate behaviour
to solve housing needs.


Boomed!

[MarillionFan]

http://www.rightmove.co.uk/news/file...ruary-2011.pdf

Apart from vendors putting their asking prices UP by and average of 3.1% in a single month (recession, what ******* recession!), it makes an interesting read, especially since twice as many properties have come onto the market as mortgages approved.

Overall, sellers are holding out. Low unemployment, no real cuts being made and low interest rates mean absolutely no reason for house prices to fall. BoE and government will protect debtors no matter what the cost to the real economy.

Perfect time for anyone to get into BTL in a big way.

I don't think so. The article I read earlier b4 you posted it, and it has a view that less than 40% of houses will sell and that sellers who are holding out are stupid.

With the kick in unemployment, VAT and rising costs yet to kick in, house prices are bound to fall by the end of the year as it bites.

Hold off.