Big jump in sellers coming onto the market

Kate Faulkner’s Latest Property Price Summary

Report Headlines:-
Rightmove – “Prices up by 3.3% despite 18% jump in new seller numbers.”
Home.co.uk – “Price Hike Alert: London Leads the Charge.”
NAEA – “House hunters set new six year high as supply continues to fall.”
Hometrack – “House price rises across more than half the country as recovery spreads – highest coverage of growth for a decade.”
Nationwide – “House prices continued to rise in February.”
Halifax – “House prices in the three months to February were 2.1% higher than in the three months to November.”
Acadata – “Average prices up £1,348 in January, setting a new record high.”
Land Registry – “The January data shows a monthly price change of 1.0 per cent.”

Kate Faulkner comments on Report Headlines:
“The property price surveys are all in agreement that prices are rising. The discussions now though, are very much around – are prices rising ‘too fast’ and therefore causing an unsustainable bubble which will burst? In London, it certainly seems a few areas, such as Hackney, are racing away and year on year, prices are growing more than their long term annual average. However, just because prices are rising, doesn’t mean it’s not sustainable. We have quickly forgotten that first time buyers and other property owners who have had six years to save and contemplate moving. Over this time, only half the normal number of people have bought and sold, so it’s not really a surprise demand has grown quickly as soon as confidence has come back into the market. So we should be celebrating price rises which are heading ‘back to normal’ rather than fearing them. They are good for the industry and the economy.”

Read the full version of Kate Faulkner’s latest summary  Big jump in sellers coming onto the market  including:-

• Regional Property Price Differences
• Demand for Property
• Supply of Property

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