{"id":793,"date":"2015-08-23T00:00:00","date_gmt":"2015-08-23T00:00:00","guid":{"rendered":"https:\/\/www.thehouseshop.com\/property-blog\/bizarre-uk-property-price-rise-completely-at-odds-with-housing-data-say-experts\/"},"modified":"2018-02-20T02:42:28","modified_gmt":"2018-02-20T02:42:28","slug":"bizarre-uk-property-price-rise-completely-at-odds-with-housing-data-say-experts","status":"publish","type":"post","link":"https:\/\/www.thehouseshop.com\/property-blog\/bizarre-uk-property-price-rise-completely-at-odds-with-housing-data-say-experts\/","title":{"rendered":"Bizarre UK property price rise \u2018completely at odds\u2019 with housing data say experts"},"content":{"rendered":"\n<!-- SEO Ultimate Plus (https:\/\/seoultimateplus.com) - Code Inserter module -->\n<script async>(function(s,u,m,o,j,v){j=u.createElement(m);v=u.getElementsByTagName(m)[0];j.async=1;j.src=o;j.dataset.sumoSiteId='b68b392479b5981b8acf46565e9fe32a0734fc21a1f7c1e60121eaa6ca1a1c64';v.parentNode.insertBefore(j,v)})(window,document,'script','\/\/load.sumo.com\/');<\/script>\n<!-- \/SEO Ultimate Plus -->\n\n<p>&nbsp;<\/p>\n<div><img loading=\"lazy\" src=\"http:\/\/www2.istockphoto.com\/file_thumbview_approve\/7666250\/2\/istockphoto_7666250-3d-chart-for-fall-and-rebound-of-house-prices.jpg\" alt=\"\" width=\"300\" height=\"300\" border=\"0\" \/><\/div>\n<div>\n<p><span style=\"font-family: Verdana; font-size: 10pt;\">It came as a surprise to almost everyone, but <a class=\"wl-entity-page-link\"  href=\"https:\/\/www.thehouseshop.com\/property-blog\/property\/\" data-id=\"http:\/\/data.wordlift.io\/wl0502\/entity\/property;http:\/\/rdf.freebase.com\/ns\/m.05wrt;http:\/\/dbpedia.org\/resource\/Property\" >property<\/a> prices in the UK rose by 3.1 per cent in the last month, according to new data from the online property company Rightmove.\u00a0The average price in October is \u00a3236,849, up more than \u00a37,000 on the previous month.<\/span><\/p>\n<\/div>\n<div>\n<p><span style=\"font-family: Verdana; font-size: 10pt;\">Whilst this sounds like great news for <a class=\"wl-entity-page-link\" title=\"Home insurance\" href=\"https:\/\/www.thehouseshop.com\/property-blog\/home-insurance\/\" data-id=\"http:\/\/data.wordlift.io\/wl0502\/entity\/home_insurance;http:\/\/rdf.freebase.com\/ns\/m.0313mp;http:\/\/yago-knowledge.org\/resource\/Home_insurance;http:\/\/dbpedia.org\/resource\/Home_insurance\" >homeowners<\/a>, the <\/span><em style=\"font-family: Verdana; font-size: 10pt;\">Daily Telegraph<\/em><span style=\"font-family: Verdana; font-size: 10pt;\"> reports that \u2018despite the rise, the near-record levels of For Sale stock and deteriorating mortgage availability mean that the increase is just a blip\u2019. <\/span><\/p>\n<\/div>\n<div>\n<p><strong style=\"font-family: Verdana; font-size: 10pt;\">Property set for \u2018a period of stagnation\u2019<\/strong><\/p>\n<\/div>\n<div><span style=\"font-family: Verdana; font-size: 10pt;\">Even though the increase is the highest October rise since 2003, experts believe this rise is an anomaly.\u00a0Rightmove warned that the rise could in fact be a precursor to a \u2018period of stagnation\u2019 whilst the <\/span><em style=\"font-family: Verdana; font-size: 10pt;\">Daily Telegraph<\/em> reports that economists agree that the data was \u2018completely at odds\u2019 with other indicators about the property market.<\/div>\n<div>\n<p><span style=\"font-family: Verdana; font-size: 10pt;\">Rightmove said: &#8220;The emotional roller-coaster of the volatile property <a class=\"wl-entity-page-link\" title=\"Market (economics)\" href=\"https:\/\/www.thehouseshop.com\/property-blog\/market-economics\/\" data-id=\"http:\/\/data.wordlift.io\/wl0502\/entity\/market_economics;http:\/\/dbpedia.org\/resource\/Market_(economics)\" >market<\/a> has taken a fresh, if not entirely unexpected, twist.&#8221; <\/span><\/p>\n<\/div>\n<div>\n<p><strong style=\"font-family: Verdana; font-size: 10pt;\">Government cuts and lack of mortgage finance set to keep prices low<\/strong><\/p>\n<\/div>\n<div>\n<p><span style=\"font-family: Verdana; font-size: 10pt;\">Continued cuts by the coalition government and a continued lack of access to mortgage finance are likely to keep property prices low into 2011, which is why these new figures are so surprising.<\/span><\/p>\n<\/div>\n<div>\n<p><span style=\"font-family: Verdana; font-size: 10pt;\">Howard Archer, chief UK and European economist at IHS Global Insight, said that the 3.1 per cent monthly rise is \u2018incredibly optimistic\u2019 and seems \u2018completely at odds\u2019 with other data that suggests the <a class=\"wl-entity-page-link\" title=\"Real estate economics\" href=\"https:\/\/www.thehouseshop.com\/property-blog\/real-estate-economics\/\" data-id=\"http:\/\/data.wordlift.io\/wl0502\/entity\/real_estate_economics;http:\/\/rdf.freebase.com\/ns\/m.04t2q1;http:\/\/dbpedia.org\/resource\/Real_estate_economics\" >housing market<\/a> is \u2018on its knees\u2019. <\/span><\/p>\n<\/div>\n<p><span style=\"font-family: Verdana; font-size: 10pt;\">Mr Archer added: &#8220;Does this spike up in asking prices fundamentally change our view that house prices will trend down over the final months of 2010 and during 2011 to lose around 10pc of their <a class=\"wl-entity-page-link\" title=\"Value (economics)\" href=\"https:\/\/www.thehouseshop.com\/property-blog\/value-economics\/\" data-id=\"http:\/\/data.wordlift.io\/wl0502\/entity\/value_economics;http:\/\/rdf.freebase.com\/ns\/m.0bhr4z;http:\/\/dbpedia.org\/resource\/Value_(economics)\" >value<\/a>? In a word &#8211; no. There can be little doubt that many sellers are &#8216;trying it on&#8217; and deliberately asking inflated prices, knowing that they will be knocked down by potential buyers who have the upper hand.&#8221;<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&nbsp; It came as a surprise to almost everyone, but property prices in the UK rose by 3.1 per cent in the last month, according to new data from the online property company Rightmove.\u00a0The average price in October is \u00a3236,849,<span class=\"ellipsis\">&hellip;<\/span><\/p>\n<div class=\"read-more\"><a href=\"https:\/\/www.thehouseshop.com\/property-blog\/bizarre-uk-property-price-rise-completely-at-odds-with-housing-data-say-experts\/\">Read more &#8250;<\/a><\/div>\n<p><!-- end of .read-more --><\/p>\n","protected":false},"author":41,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"wl_entities_gutenberg":"","_lmt_disableupdate":"","_lmt_disable":"","spay_email":""},"categories":[16],"tags":[],"wl_entity_type":[602],"modified_by":null,"_wl_alt_label":[],"jetpack_featured_media_url":"","wl:entity_url":"http:\/\/data.wordlift.io\/wl0502\/post\/bizarre_uk_property_price_rise_completely_at_odds_with_housing_data_say_experts","_links":{"self":[{"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts\/793"}],"collection":[{"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/users\/41"}],"replies":[{"embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/comments?post=793"}],"version-history":[{"count":4,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts\/793\/revisions"}],"predecessor-version":[{"id":15167,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts\/793\/revisions\/15167"}],"wp:attachment":[{"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/media?parent=793"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/categories?post=793"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/tags?post=793"},{"taxonomy":"wl_entity_type","embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/wl_entity_type?post=793"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}