Boom is back in town!

[DimPrawn]

http://www.telegraph.co.uk/finance/p...onth-high.html


House sales going stratospheric. New Labour's economy is bullet proof.

[DimPrawn]

You can get your asking price, you just have to wait 10 or 15 years.

[leeperry]

Asking prices mean nothing, what matters is the selling price and that's only going one way. Down.

[expat]

I'm prepared to pay £1 for your house, does that make it worth a £1?

No, a house is worth the most that someone is prepared to pay for it. Pedantic semantics.

[Bagpuss]

A house is worth what anyone is prepared to pay for it.

I'm prepared to pay £1 for your house, does that make it worth a £1?

[swamp]

Statistics can be misleading....

Asking prices in Kensington and Chelsea have risen over 20%.

Boomed? No, lots of top-end (ie £10m) houses are being dumped on the market as their owners are desperate for cash.

In the borough of Camden detached house prices (by sales) were up %127.

Boomed? No because only seven detached houses were sold in the last year. One sold for £55m which would rather skew the measurement!!

[Platypus]

Bloomberg: The U.K. property market is a screaming buy compared to rivals in continental Europe.

Strategists at New York-based Citigroup Inc. said in a report last week the pound is “among the most undervalued major currencies,” trading almost 15 percent below “fair value” versus the dollar. Barclays Plc predicts it will rise as much as 18 percent against the dollar and 11 percent versus the euro in the coming year. Goldman Sachs Group Inc. sees a 23 percent gain versus the dollar and 15 percent advance against the euro.

Damn - I'm still paid in dollars - so the days of plenty are over all too soon.

[Clippy]

http://www.home.co.uk/asking_price_i...ndex_MAY09.pdf

The mix-adjusted average Asking Price for homes on the market in England
and Wales has risen 1.1% since April.


http://miranda.hemscott.com/static/c...78/2116258.pdf

New sellers push up asking prices by 2.4%, driven by a mixture of ambition, optimism and necessity

This month sees a jump in new sellers’ average asking prices more reminiscent of a boom market.

This is the largest May rise Rightmove has measured since 2003, when property was seeing annual rises in excess of 15%.



You see, it's all sorted now, asking prices are going through the roof! This time next year CyberTory and I will want at least £1M for our humble sheds.

Seriously, do you have a gig?

Or do you spend all your time on house related websites?

You're not Paul Torissi are you?

[DimPrawn]

Bloomberg: The U.K. property market is a screaming buy compared to rivals in continental Europe.

FFS

Indeed, it's bargain city out there, with some properties £5 below their 2007 peak!

Fill yer boots!

[HairyArsedBloke]

Bloomberg: The U.K. property market is a screaming buy compared to rivals in continental Europe.

FFS

[Fred Bloggs]

Interesting psychology at work here. When a person is selling, they expect top dollar. Having acheived a sale, the same person expects a mega bargain. Houses are still probably 35% to 50% above the long term affordability criteria on the whole though.

[BrilloPad]

Obviously not, it is worth what the seller thinks it is, or it's not for sale.

The graph shows that there's no property crash in the seller's mind, infact it's mega boom time!

That has been confirmed by a friend of mine looking in St Albans. Asking prices are same as early 1997. I suppose at least they have not risen......

[DimPrawn]

A house is worth what anyone is prepared to pay for it.

Obviously not, it is worth what the seller thinks it is, or it's not for sale.

The graph shows that there's no property crash in the seller's mind, infact it's mega boom time!

[BrilloPad]

A house is worth what anyone is prepared to pay for it.

[DimPrawn]

http://www.home.co.uk/asking_price_i...ndex_MAY09.pdf

The mix-adjusted average Asking Price for homes on the market in England
and Wales has risen 1.1% since April.


http://miranda.hemscott.com/static/c...78/2116258.pdf

New sellers push up asking prices by 2.4%, driven by a mixture of ambition, optimism and necessity

This month sees a jump in new sellers’ average asking prices more reminiscent of a boom market.

This is the largest May rise Rightmove has measured since 2003, when property was seeing annual rises in excess of 15%.



You see, it's all sorted now, asking prices are going through the roof! This time next year CyberTory and I will want at least £1M for our humble sheds.