UK Landlord Forum / Life

QuoteThe average asking price of a UK home unexpectedly rose during May, but the housing market is continuing to struggle despite the surprise uptick, according to property website Rightmove.

The average asking price rose 1.2 percent to 242,500 pounds in May from 239,521 pounds in April, but the website said the rise was caused by optimistic new sellers in the south of England and masked year-on-year falls across much of the rest of the country.

'New sellers can see the storm clouds overhead but seem to believe it's only raining on other people,' said Rightmove commercial director Miles Shipside, adding they are unlikely to get a price close to what they are asking.

On a year-on-year basis, house prices were 2.2 percent higher than a year earlier, up on last month's 1.3 percent.

Source: full article here

Radio talk this am, they where saying the city is expecting house prices to fall to 40% of what they are worth today.
Interesting, looks like the good old days are coming back, where you can pick up a house for a song.

They also said that many many jobs are being lost in the industry at the moment due to the property crash, !

Quote from: Uncle Norman on May 19, 2008, 12:07:12 PM
Radio talk this am, they where saying the city is expecting house prices to fall to 40% of what they are worth today.
Interesting, looks like the good old days are coming back, where you can pick up a house for a song.

They also said that many many jobs are being lost in the industry at the moment due to the property crash, !

Yeah, I read the exact same thing in the papers this morning. Lovely.

No it was bad reporting on telly and in press what they were trying to say (badly) was that house sales would fall 40% - not prices

Oh right, thx Hopson, thank god we have got people like youaround to pick us up when we fall ! lol