Is the housing market really heating up, or will it cool over the summer?
We track most of the monthly reports on property prices produced on a monthly basis. This report summarises what’s being said about the market and includes Kate Faulkner’s comments on what this means primarily for the general public, but also for the industry, market and economy.
Rightmove – “Rightmove doubles 2013 forecast from 2% to 4% as ‘aggregation of marginal gains’ fuels 4.8% annual growth”
Home.co.uk – “Home prices hit 5-year high”
Hometrack – “House prices post another strong increase in June”
Nationwide – “Pick up in house price growth continued in June”
Halifax – “House prices continue to rise steadily”
RICS – “Confidence building”
Acadametrics – “House prices hit record high in June, but it is London driving
Land Registry – “The May data shows a monthly price change of 0.1 per cent”
Kate Faulkner comments on Report Headlines:
“These headlines all look amazing until you get to the last two which record what has ‘actually’ happened to sales prices! The asking prices for property reported by Rightmove and Home clearly show sellers are buying into the idea of rising prices by putting their properties on at higher prices than before. This rise in sellers’ advertised prices is turning into real growth in the housing market prices, from an offer, mortgage and surveyor’s perspective. However, when it comes to actual sold prices, they have yet to show the same growth. This is partly due to timing. Sold price trends are typically a few months behind the current market, so we will need the data over the summer to see if higher sellers’ expectations are translating into higher prices paid at a national level. ”
Read the complete Property Price Summary here, including:-
- Regional Property Price Differences
- Demand for Property
- Supply of Property
What to do next? For more help, from Kate and her team, join Property Checklists for free.
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