UK property prices surged in January taking them higher than a year ago, figures show

[Nicholas Wallwork]

Asking prices for UK residential property are 6.1% higher than a year ago after the biggest*monthly increase since April 2007, according to the latest figures to be published.

The average asking price nationwide in February was up 3.2% on January and is now at a*non-seasonally adjusted £229,398, according to the date from Rightmove.

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[geoffa]

Asking prices in this market mean nothing..i am asking 50k for my ford escort....now the tap has been turned off we are about to see the real economy and what state it is in...all this quantitative easing has been doing is like its been giving whiskey to a alcoholic and now he has been told he can have no more...will he survive...the housing market has been propped up these last five years by cheap cheap credit and now we are going to see it perform in the middle of a recession without major support it has had these last twelve months..house prices are still 40 % overvalued and we have to get back to good affordability levels for the first time buyer to become a player in the market again as they have been on the sidelines since 2006..i expect a 30% fall over the next three years and some major players in the btl market to go under...ie the wilsons are allegedly in trouble with banks taking active roles in their portfolios....the recession is just beginning now the tap has been turned off and house prices are going to fall much more...anyone disagree and why?

Remember transaction levels on mortgages are down 50%
ltv ratios are for a decent rate 75%
prices are 40% overvalued according to the imf..
wages are not going up and will not be going up....

anyone tell me why they think its all over and we are back to normal (Elliot wave!!!)

 

[Lysos]

Spot on, geoff !. A voice of sanity & reason. UK plc is bankrupt. If it was a home owner it would have been repossessed.

 

[johnwww]

The status of the capital city of one of the most affluent countries in the world results in high prices. Thus, in the best parts of London the price per square meter varies from £ 8 thousand to £ 30-40 thousand.

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homes for sale,http://proferty.co.uk/ UK property, property for sale

 

[chris-sussex]

remember the UK economy is starting to recover more quickly then all but one G7 nations. So this increse may be a trend as far as economic forecasts are concerned. hmmmmmmmmmmm


From: Callaways Estate and Letting Agents Brighton and Hove