Rightmove sees housing market unaffected by global markets

The average selling price for a house now stands at £231,543 with quite a large fall of -2.2% is asking prices since Julys HPI figures. Also Rightmove believe any impact from the recent financial jitters to be very limited as they see the market "bumping along the bottom" already.


With all the recent financial unsets there is always a potential knock on impact to the property market.


However Rightmove believe any impact to be very limited as they see the market "bumping along the bottom" already, with supply of new sellers staying a low levels and the Bank of Englands base rate widely expected to not change until 2013!


Average House Price


The average selling price for a house now stands at £231,543 with quite a large fall of -2.2% is asking prices since Julys HPI figures.


The annual change since August 2010 are again down by -0.3%, suprisingly for the first time since September 2009.


Over the 4 years since the very start of the financial crisis, asking prices have falled by a total of -4.1%, or £9,930 on average.


Comments


Miles Shipside, director of Rightmove comments:



“While the world’s financial jitters are now playing havoc with stock markets and our future pensions, there are bound to be concerns about the impact on assets held as bricks and mortar.....


.....in spite of the continuing global economic unrest, the UK housing market has several unique factors that should help to insulate it from downside risks



The Regional Picture


Regionally things are not always the same. Indeed Rightmove have actually seen increases in asking prices in Yorkshire & Humberside and Wales, 0.1% and 0.8% respectively.


In contract the actual averaeg house price sales, which have seen London as a region bucking the trend, Rightmove saw the largest fall in asking prices in London, with -3.4%

Rate this blog entry:
Interview with the Empty Homes Agency
Progressive Property 2011 Emergency Property Buyin...

Related Posts

Comments

 
No comments made yet. Be the first to submit a comment