More Information on Housing Bubbles!
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 – “London prices rise unsustainably, beating previous high by nearly £30k.”
Home.co.uk – “Recovery Spreads North and West as London’s Bubble Expands.”
Hometrack – “House prices up 0.5% in October. Rising time on market points to increasing buyer sensitivity.”
Nationwide – “House prices continue to rise in October.”
Halifax – “House prices in the three months to October were 1.6% higher than in the previous three months; this rate is below the increases of 2.0-2.1% recorded in each of the previous four months.”
NAEA – “Supply of houses increase as serious house hunters keep steady.”
Acadata – “Transactions and prices continue to climb across the country.”
Land Registry – “The September data shows a monthly price change of 1.5 per cent.”
Kate Faulkner comments on Report Headlines:
“I don’t know how many times I’ve said there is no housing bubble. There is a housing recovery which is strong, as it was in the late 90s, but a recovery does not equal a bubble! However, it’s understandable the media are continuing with this story while property report headlines continue to fuel with some scare mongering headlines. Ask those who want to give good, independent advice, and they all agree ‘there is no bubble, prices are increasing after a huge six year slump’. However, interesting that Hometrack haven’t recorded increases in the time to sell, and the time to receive an offer has gone back up to 8.3 weeks, signs that may be the post slump recovery is settling down.”
Read the full version of Kate Faulkner’s latest 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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