Asking prices up 1.2%
While we are being told that the property market is completely shot yet another bit of data has come out to support the opposite.
Rightmove have said asking prices have risen by 1.2% in the month of February.
This is completely against the trend of what we are led to believe. Also the number of properties placed on the market was 75,000 compared to 137,000 last year. Here is the report:
It is really obvious to see what is happening. No one needs to sell anymore! Rates are so low vendors can hold out. Also with the lack of properties coming on to the market there is a question of supply.
With regards to my business we are not lacking in clients, we are lacking in properties if anything! (become a sourcer and earn £1,000 per deal).
I think this quantative easing is working. I do not want to speak too soon but you cannot help think that when there are millions of homeowners paying next to nothing on their mortgage we can all simply wait for the recession to blow over.
Stage 1: reduce rates to zero has nearly been completed
Stage 2: printing money is about to be completed
Stage 3: Jobs being created by Government to fill employment gap about to be released
Stage 4: Banks being forced to lend imminent
Could this whole thing be over? I reckon it might be......
PS just got an email from one of my top sourcers and properties are being bid over asking prices and first time buyers are back with their large deposits!
PPS Call us on 0870 990 3205 and we'll be happy to tell you more about our service.
Posted on: 18th Feb 2009