A country of two halves is painted by the Hometrack survey of the housing market, out this morning.
While house prices have risen in 14.8% of postcodes, three-quarters of these are in London and the South-East. Almost half of London postcodes (48%) registered rises, as did 26% of other South-East postcodes.
In the North, however, house prices remain under downward pressure.
Hometrack warns that house prices in the South are likely to be driven by a shortage of stock, with high Stamp Duty costs acting as a disincentive to sellers to move house.
The survey of 1,250 agents across the country shows that house prices are unchanged – they have grown by just 0.1% since the start of the year – and that new applicants in February rose by 14%, consistent with previous years.
However, this sign of new demand varied across the country. In the North-East and in Yorkshire & Humberside, new buyer registrations grew by under 5%.
The number of new properties coming on to the market rose by 8.7%, but this was off a low base. In London, one agent says that housing supply was at its lowest for five years.
After the lows of January and December, 25% more sales were agreed in February than in the previous month.
Despite the usual seasonal bounce in demand, some agents reported market conditions to be less buoyant than they had been expecting.
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Comments
"those that think they can change thing when they can't. "
So why have YOU spent a year on here using a million and one different names to lob abuse at anyone who isn't talking the housing market up?
Me thinks you've spent too much time worshipping at the throne of Krusty and Phil and expected to be a property squillionaire by now. Turns out though that financial illiterates like yourself can't just borrow a load of money, sit on their arses and get rich. Others are realising this, you're just slow. I hope you're one of those with Bank of Ireland who are getting this lesson right now, I really do.
Of course you have as a total bore I would have expected you to! XX
I love it you missed the irony Brian used! In the life of Brian it is all about taking the mick out of people who actually think they matter when of course they don’t, and those that think they can change thing when they can't.
I wish I HAD thought of it, genius stuffing!
Thanks for making me crack up every time you type it, got ya!
Howdy Brian.
There's a story on the LAT site about how many BTLers are actually losing money on their investments. I've commented on that one too.
Shock , horror! A stroy on price that rantrave does not feel compelled to comment on, what are we meant to think if he does not tell us, again and again and boring again.